Test 2 Fundamentals of Marketing and Technology

JCPenney pays $16.50 for a six-ounce bottle of cologne and sells it for $25.95. Its markup as a percentage of cost is approximately ____% for this product.

57

Which of the following pricing objectives sets prices to recover cash as quickly as possible?

Cash Flow

By installing automated check-in kiosks in some airports, airlines have increased production capacity and reduced the number of personnel. This results in a decrease in

Customer Contact

In the context of business analytics, which method reviews past events, analyzes the data, and reports on what happened in a given period?

Descriptive analytics

Which of the following service characteristics results in variability of service quality yet provides the opportunity for customizing services to match the specific needs of individual customers?

Heterogeneity

Which of the following statements about customer contact in services marketing is false?

High-contact services are less expensive to deliver because they are typically equipment based

In the context of the types of data in a database, which is a source of external data?

Tax records

In large organizations, database design and management is handled by a database _____.

administrator

Client-based relationships are least likely to be developed by

appliance repairmen

Maintaining or increasing market share

can be achieved even if industry sales are flat or decreasing

The main characteristic of a ____ is that customers are satisfied to the point that they use a service repeatedly over a period of time

client-based relationship

When products in an industry are relatively homogeneous and price is a key purchase consideration,

competition-based pricing becomes more important

In contrast to data in a database, data in a data warehouse is described as subject-oriented, which means that it _____.

focuses on a specific area

In a relational database model, a _____ is a field in a relational table that matches the primary key column of another table.

foreign key

Production and consumption of services must simultaneously occur due to the ____ characteristic of services.

inseparability

Adidas is establishing a ______ pricing objective to maintain or increase its product's sales in relation to total industry sales

market share

A data _____ is usually a smaller version of a data warehouse, used by a single department or function.

mart

When a theater entices customers to see movies during the daytime by offering tickets at a reduced price, it is trying to solve the services marketing problem of

off-peak demand

A problem associated with ____ is that consumers can predict when prices will be lowered and delay purchases until that time

periodic discounting

Demand-based pricing most closely relates to the ____ of services.

perishability

When Texas Instruments first introduced its line of graphing calculators, it set the price quite high; it has lowered the price as competitors have entered the market. The pricing strategy initially used by Texas Instruments is called

price skimming

In a relational database, every record must be uniquely identified by a _____ key.

primary

If a business decides to reduce its prices once in a while on an unsystematic basis, it is using

random discounting

The willingness and readiness of employees to meet the needs of the customer while providing the service is an important dimension of service quality called

responsiveness

In a relational database model, which operation searches data in a table and retrieves records based on certain criteria?

select operation

Markup is measured either as a percentage of ____ or a percentage of ____.

selling price; cost

In a(n) _____, records in files are organized and processed in numerical order

sequential access file structure

When service companies change high-contact services into low-contact services, the

service becomes less personalized

A price-skimming strategy assumes that

the initial demand is highly inelastic

In many service industries, customer-contact employees are

the lowest-paid and least-trained employees

In the context of big data, velocity is _________

the speed with which the data has to be gathered and processed

Competition-based pricing is

used when costs and revenues are secondary to competitors prices

A data _____ is a collection of data from a variety of sources used to support decision-making applications and generate business intelligence.

warehouse

In service marketing, the most important link to the customer is

well-trained contact employees

A _____ is software for creating, storing, maintaining, and accessing database files.

database management system

Data warehouses are sometimes called hypercubes because they _____.

store multidimensional data

Who judges service quality?

Customers

____ marketing includes activities conducted by individuals and organizations to achieve some goal other than ordinary business goals such as profit.

Nonprofit

Which of the following would be used in setting the price of a new product if considerable competition is expected?

Penetration pricing

Which of the following is the best example of a high-contact service?

Plastic surgery

In the context of business analytics, which method prepares a decision-maker for future events?

Predictive analytics

Risks associated with big data technology include which of the following?

Privacy breaches, loss of anonymity, and discrimination

What are the three primary ways that marketers deliver services?

Service facilities, customer's home, or from a distance

In a relational database model, the columns are called _____.

attributes

A market share objective

can be used effectively whether total industry sales are rising or falling

If a local Texaco gasoline station looks at nearby Valero stations' prices as the primary source of determining its own prices, Texaco is using

competition-based pricing, which considers costs to be less important than competitor's prices

The federal government often uses ____ pricing when it grants defense contracts.

cost-plus

The necessary interaction between service provider and customer that allows a service to be delivered is called

customer contact

The heterogeneity characteristic of services provides marketers with tremendous opportunity to

customize their services to meet unique individual needs.

The _____ stores data types for fields, default values for fields, and validation rules for data in each field.

data dictionary

A _____ acts as an interface to a database, retrieving data for users and allowing users to enter data in the database.

data-driven Web site

A _____ converts logical requests from users into their physical equivalents by interacting with other components of the database management system (DBMS).

database engine

The three primary bases for developing prices are

demand, competition, and cost

If a product is priced based on how many or how few people want it at a particular time and place, ____ pricing is being used.

demand-based

Client-based relationships are most likely to be developed by

doctors

In a(n) _____ access file structure, records can be accessed in any order, regardless of their physical locations in storage media.

random

Maintaining a certain market share, meeting competitors' prices, maintaining a favorable image, and achieving price stability are all associated with a ____ pricing objective

status quo

Which pricing objective de-emphasizes price and can lead to a climate of nonprice competition in an industry?

status quo

A service is usually offered as part of a bundled package of services with a core service and one or more ____ services.

supplementary

Running a big sale in order to generate enough cash to pay creditors can occur in a situation in which a firm's primary pricing objective is

survival