wmu marketing 2500 midterm- Dr. J

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Which of the following is true of advertising in the new marketing communications model?

Advertisers are increasingly shifting toward digital media.

_______ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.

Advertising

Which of the following is most likely a difference between advertising and sales promotion?

Advertising can be used to build up a long-term image for a product while sales promotion effects can be short lived.

Millie Foods, producers of baby food, offers a monetary sum to retailers who agree to feature its new products on their shelves for a considerable time period. In this case, the promotion tool used by the company is referred to as a(n) ________. A) price pack B) rebate C) sample D) allowance E) discount

Allowance

Serivce

Any activity that fulfills a human want or need and returns money to those who provide it.

product

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need

Positioning

Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

The Changing Marketing Landscape

As a result, advances in digital, social, and mobile media have taken the marketing world by storm. . And today's big data and improved marketing analytics, such as artificial intelligence, not for profit, globally enaged responsibility

____ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

B) Marketing research

Which of the following is most likely a true statement about generational groups in the United States?

B) The Generation Xers are the most educated generation to date.

The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

B) exploratory

as with other types of marketers, a primary goal in wholesaling is to

Build value adding customers relationships

experimental research

Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________.

Which of the following is true of a good marketing information system?

C) It balances the information that a firm wishes to have with the information a firm actually needs.

7) The marketing manager at Frizzles' Eateries targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Frizzles' approach is best referred to as ________ segmentation.

C) benefit

Which of the following is a traditional direct marketing tool?

Catalog

attraction

Companies that practice marketing by ________ create offerings and messages that engage consumers rather than interrupt them.

market offerings

Consumers' needs and wants are fulfilled through ________.

Rather than just creating and placing "TV ads" or "print ads" or "Snapchat branded story ads," many marketers now view themselves more broadly as ________ managers.

Content Marketing

descriptive research

Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________.

Which of the following statements is true of international marketing research?

D) Language translation in international marketing research typically increases costs and raises the risk of errors.

attitude

Describes a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea

Which of the following is most likely true able the digital age with regards to marketing

Digital networks allow marketers many ways to build customer relationships

Which of the following is most likely true about the digital age with regards to marketing

Digital networks allow marketers many ways to build customer relationships

________ Marketing involve engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships

Direct and digital

Which of the following account for the largest portion of firms' online advertising spending?

Display and search related advertisements

Which of the following is most likely true about business legislation?

E) Business laws that are enforced by government agencies have a major impact on a company's marketing performance.

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Silkskin's line of eye makeup? A) the natural ingredients B) the Silkskin brand C) the products' revolutionary packaging D) the hypoallergenic properties of the products E) the desire for having beautiful eyes

E) the desire for having beautiful eyes

Sales promotions constitute the interpersonal arm of the promotional mix

False

Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms.

False

The goal of any logistics system should be to maximize sales, not profits

False

The more loyal a firm's profitable customers, the lower its customer equity.

False

in consumer product companies such as P&G or Nike, the sales force works directly with customers

False

Introducing intermediaries into a distribution chain increases the number of direct channel transactions between a manufacturer and its customers

Flase

change the packaging of the toy

Gershwin, a musical toy for toddlers, is in the maturity stage of the product life cycle, and Gershwin managers have decided to modify tterm-39he product. What will Gershwin managers most likely do to achieve this goal?

Charging higher prices on an everyday basis, coupled with frequent sales and other price promotions to increase store traffic, create a low-price image, or attract customers who will buy other goods at full prices is referred to as pricing

High-low

business analysis

Hollingsworth is a retail company that is planning to release a new line of luxury personal care products. Its managers are now reviewing the sales history of similar products and conducting marketing surveys to estimate minimum and maximum sales for the product. In which of the following stages of the new product development process is the product?

Which of the following is a characteristic of an inside sales force?

It conducts business from an office via telephone

Which of the following is true of a conventional distribution system?

It has each channel member acting as a sperate business unit trying to maxmize its own profits

Which of the following is true of a vertical marketing system

It has one channel member owning all the other channel members or has contracts with all other channel members

Which of the following is true of direct and digital marketing?

It is suited for highly targeted marketing efforts and for building one-to-one customer relationships.

Which of the following is true of an intensive distribution strategy

It strives to make products available where and when consumers want them

Providing a host-country partner the right to use a company's manufacturing process, trademark, patent, trade secret, or other item of value is referred to as ________.

Licensing

marketing myopia

Many of​ Zappos' more traditional rivals focus greater attention on the attributes of the products and services they sell rather than on the benefits and experiences produced by their market offerings. This trap is sometimes referred to as​ __________.

Under Armour increasing its advertising spending and offering an ever-increasing range of styles and colors in its original apparel line is an example of ?

Market penetration

Which of the following best describes the term "Madison and Vine"?

Merging advertising with entertainment

________ can provide on-the-go product information, price comparisons, advice and reviews from other consumers, and access to instant deals and digital coupons

Mobile Marketing

Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment.

Natural

Which of the following is the first stage of the buyer decision process

Need recognition

________ creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.

Omni-channel retailing

In managing their international marketing activities, most companies first ____

Organize an export department

8. Window Concepts has introduced a new line of windows that offer the same benefits as solar panels in reducing heating and cooling costs in homes. The state-of-the-art windows will also contribute to the slowing of global warming while providing energy reliability. The company sends a team of representatives to the National Doors and Windows Trade Show to promote the new line of windows. Which promotion mix tool has Window Concepts used in this scenario?

Personal Selling

Some companies intentionally manufacture their products with materials or components that will break, wear, rust, or rot sooner than they should. This practice is called

Planned obsolescence

Cracker Jack, an American brand snack of caramel-coated popcorn and peanuts, has been in existence since 1896. The brand became popularized due to its free prize inside every box. Which of the following promotion tools does this exemplify?

Premium

Veggie delight, a leading manufacturer of frozen vegetarian burgers, has recently entered the middle east markets. Based on its research, consumers in the middle east prefer spicier burgers than in the United States and other countries. So the company alters the ingredients in its burger to meet the local preferences. in this scenario, veggie delight is using an _________ strategy to market its product.

Product adaption

Karen Rogers is a salesperson for Solar Panels Inc. She attends builder trade shows to identify potential customers in an effort to build long-term profitable relationships. Karen Rogers is engaging in which step of the selling process?

Prospecting

Buyer Decision Making Process

SEE CLASS NOTES

managing the marketing function begins with a complete analysis of the companies situation. a though ________ is typically undertaken to guide decision making

SWOT

In a marketing communications mix, ________ refers to any short-term incentive that encourages the purchase or sale of a product or service.

Sales promotion

Food Galore is a regional chain of supermarkets in the Midwest. The primary role of the staff is to restock shelves and operate cash registers. Customers locate, compare, and select their groceries and other sundry items. Food Galore is most likely a ________.

Self service retailer

Lakeland inc. employees get 40 hours paid leave each year to pursue volunteer projects. The company runs a service day that hosts projects in 25 countries, and it supports a nonprofit that brings young people into public service for a year. lakeland could be most accurately described as practicing __________ marketing.

Sense-of-mission

Which of the following statements is true of retailing

Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed

Which of the following is most likely a true statement about social class?

Social classes show distinct product preferences in areas such as clothing.

idea

The "Stop the Texts. Stop the Wrecks." campaign co-sponsored by the Ad Council and the National Highway Traffic Safety Administration is an example of a marketing offering for a(n) ________.

Which of the following is true about trends in wholesaling

The demand for lower prices and higher quality has increased

market growth rate and relative market share

The two dimensions the BCG approach uses to evaluate and manage SBUs are ________.

Which of the following is true of consumers in the new marketing communications model?

They are better equipped to find product and brand information on their own.

Which of the following is an advantage of primary data?

They are more relevant than secondary data

Which of the following is true of marketing strategies that are being developed in the new marketing communications model?

They are more targeted, social, and engaging

perceptual positioning map

They are used to analyze consumer perceptions of a brand relative to competing products a technique to visually describe where brands are "located" in consumers' minds relative to competing brands

Which of the following statements is true of consumer promotions

They include a wide range of tools like samples, coupons, refunds.

exchange

This act of obtaining a desired object from someone by offering something in return is known as​ __________.

components of a positioning statement

To (target segment and need) our (brand) is (concept) that (point of difference)

Most international companies strive to adapt global brands to local needs

True

diversification

Under Armour's recent expansion into the digital personal health and fitness tracking market through acquisitions of three fitness app companies is a ________ strategy.

the growth of the internet caused many traditional companies to ________ in response to customer demands and a changing market place

Use omni Channel retailing

A _____ is made up of a company, its suppliers, its distributors, and ultimatly, customers who "partner" with eachother to improve the performance of the entire system

Value delivery network

jetBlue's promise to "put you above all" by "bringing humanity back to travel" is their

Value propisition

more Americans moving to micropolitan areas

Which of the following is a geographic shift that has been observed in the United States in recent times?

family

Which of the following is a social factor that influences consumer buying behavior?

more relevant than secondary data

Which of the following is an advantage of primary data?

undifferentiated marketing

Which of the following is an approach where firms target a whole market based on common consumer needs?

organizational factors

Which of the following is considered a major influence on business buyer behavior?

The Generation Xers are the most educated generation to date.

Which of the following is most likely a true statement about generational groups in the United States?

supplier performance review

Which of the following is most likely the final stage of the business buying decision process?

Safari Unlimited recently conducted national research to generate ideas for a new line of fatigues geared to women. The company uncovered a number of ideas about clothing and accessory preferences as well as important benefits such as built-in sunblock and durability. The Safari Unlimited product development team will most likely use ________ next to arrive at a realistic number of products for the new fatigues line.

idea screening

which of the following sets the upper limit for a products pricing

consumer perceptions of value

The two major citizen action movements to keep businesses in like are __________

consumerism and environmentalism

Which of the following is true of focus group discussions

consumers are not always honest and open about their opinions

marketing offerings

consumers' needs and wants are fulfilled through second of marketing process used to satisfy a need or a want include persons places organizations info and ideas are not limited to phyial products

More than 80 percent of McDonald's Restaurants worldwide are owned and operated by franchisees. This illustrates a __________ marketing system

contractual vertical

Laundry detergent, candy, magazines, and fast food are purchased frequently by customers

convenience

Lovely Skin is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The company has decided to add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a ________ approach to price the new moisturizer.

cost plus

Which differences to promote

important, distinctive, superior, communicable, preemptive, affordable, profitable

a company adding new features to a product will most likely assess each features value to customers relative to its

cost to the company

Pricing involves setting prices based on the expenses involced in producing, distributing, and selling a product plus a fair rate of return for a company's effort and risk

cost-based

For most companies, the first step in conducting online marketing is to

create a web site

The nation's poor areas have 30 percent fewer supermarkets than do affluent areas. As a result, many low-income consumers find themselves

in food deserts

A country's ______ shapes its product and service needs, income levels, and employment levels.

industrial structure

When demand hardly changes with a small change in the price of a product, then the demand for the product is best described as ________.

inelastic

a doctor performing hip surgery on a patient illustrates how a service can be produced and consumed simulatniously

inseperability

Four Service Characteristics

intangibility, inseparability, variability, perishability

Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases.

internal

In which stage of the product life cycle will promotional expenditures be significantly high in an attempt to create consumer awaremeness of a product and its features

introduction

Which of the following is generally regarded as the toughest issue of public policy and ethics confronting the direct marketing industry

invasion of consumer privacy

What do most companies today focus on when it comes to protecting the environment

investing heavily in pollution prevention

Crowdsourcing

inviting broad communities of people - customers, employees, independent scientists and researchers, and even the public at large - into the new product innovation process

Defining the problem and research objectives

is often the most difficult but most critical step in the research process.

market

is the set of actual and potential buyers of a product or service

price

is the sum of all the values that customer gain the benefits of having of using a product or service

which of the following is true of strategic planning in a firm

it deals with adapting the firm to take advantage of changing marketing opportunities

which of the following statements about break-even anaylsis is most likely true

it fails to consider customer value and the relationship between price and demand

Which of the following is true about the product life cycle

it is generally difficult to forcast the sales level at each plc stage

Companies often form ___________ ventures to merge their complementary strengths in developing a global marketing opportunity

joint ownership

________ is a method of entering a foreign market by associating with foreign companies to procduct or market products or services

joint venturing

when establishing prices, its important for a manager to understand that "good value" is not the same as

low price

demographic, economic, natural, technological, political, and cultural forces for the

macroenvironment

A common criticism of the marketing system is that intermediaries

mark up prices beyond the value of their services

the first target store opened in 1972, its initial strategy was to set prices low to attract a large number of buyers wuickly and win a large market share

market penetration pricing

the first generation apple ipod was introduced in 2001 and sold for $500 the following year a mini version was introduced for $250. Apple initially used a _____ strategy to price their digital music innovation

market skimming

product, price, place, and promotion make up the elements of a firms marketing mix

marketing mix

Exploratory Research

marketing research to gather preliminary information that will help define problems and suggest hypotheses

generational marketing

marketing to members of a generation, who tend to share the same outlook and priorities

refer to a form of of products that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible

services

Which of the following is most likely a true statement about shipping products

shopping less than convience

Grace and her fiance visit several furniture stores in and around their hometown of Milwaukee. They use their smartphones to capture information about manufacturers and pricing, and ultimatly decide to purchase their favorite items online

showrooming

product positioning

simplify the buyers process consumers are likely to position products in their minds

Cosmetic retailer Lush knows that doing what's right benefits both customers and the company. Their premium beauty products are made by hand from the freshest possible natural ingredients. This is an example of the ________ concept.

societal

When a company makes marketing decisions by considering consumers' wants and interests, the company's requirements, and society's long-run interests, it is most likely practicing _____ marketing

societal

The american tie company, a necktie retailer, offers a deep assortment of Man's neckties. The American tie Company is best described as an

specialty store

Chips of Joy, a leading chocolate chip cookie manufacturer, has decided to use the same marketing strategy approaches and marketing mix worldwide for all of its brands. The only change that will be made is language translation on the various packaging. Chips of Joy is using a(n) ________ marketing strategy.

standardized global

Which of the following statments is true in the context of the BCG growth share matrix

stars often need heavy investment to finance their rapid growth

Retailers must decide on three major product variables: Product assortment, services mix,

store atmosphere

Managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers is known as ________.

supply chain managment

________ marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and business while also preserving or enhancing the ability of future generations to meet their needs

sustainable

undifferentiated

targeting a whole market based on common consumer needs

actors in the microenvironment

the company, suppliers, marketing intermediaries, competitors, publics, customers

brand equity

the differential effect that knowing the brand name has on customer response to the product or its marketing

how has the internet most likely affected direct and digital marketing

the expenditures on direct and digital marketing have increased

wants

the form of human needs take as they are shaped by culture and individual personality like junk food jewelry makeup these become demands

value proposition

the full positioning of a brand - the full mix of benefits on which it is positioned

marketing

the process that companies engage customers build strong customer relationships and create customer value in order to capture value from customers in return capturing value is the final step

which of the following demonstrates the real value of a company's marketing research and information systems

the quality of customer insights it provides

the value chain of the a company

the series of departments that design produce market deliver and support the companies products

Which of the following is part of the micro environment of a firm's marketing environment

the suppliers who work with the company

marketing research

the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

Which of the following statements is most likely true about direct and digital marketing

they build customer engagement and constitute a complete and rapid model for doing business

Which of the following is most likely true about a sales force in the field

they build relationships with customers through face-to-face collaboration

Which aspect of niche online social niche online social media makes the medium most appealing to marketers

they cater to the needs of small communities of like minded people

Which of the following is most likely true about direct and digital marketing

they provide buyers with anytime, anywhere access to products.

Which of the following statements is true of salespeople

they represent a company to its customers by communicating and selling

Which of the following is an impact of the Great Recession on retailing trends

tighter consumer spending patters

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. The CEO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company?

to give customers the complexion they dream about by providing products suited to their needs

Sales promotion tools used to persuade re sellers to carry a brand, give it shelf space, promote it in advertising, and push it to consumers are collectively called promotions

trade

A business marketer normally deals with far fewer buyers than a consumer marketer

true

A firms marketing department must partner with other company departments to produce superior value for customer

true

Branding has become so strong today that hardly anything goes unbranded

true

Business and consumer marketers use many of the same variables to segment their markets

true

people who buy magazines that they like or who opt into email, social media, or mobile marketing programs rarely complain about ads bc they involve products/service interest. This is counter to the claim that marketing system creates __________

cultural pollution

factors that influence consumer behavior

cultural, social, personal, psychological

A child in the United States is exposed to many values including achievement and success, freedom, individualism, hard work, and material comfort. These are symbolic of American ________.

culture

the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is

customer relationship management

Which sustainable marketing principle emphasizes building long-run consumer engagement, loyalty, and relationships?

customer value marketing

which of the following is true of the new product development proccess

customers, competitors, distibutors, and suppliers are major sources of new product ideas

Which of the following is a difference between the marketing concept and the selling concept?a. The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customers.

d. The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products

------ is often the most difficult but most critical step in the research process

defining the problem and research objectives

Which of the following is a function of an integrated marketing communications system?

delivering a clear, consistent, and compelling message on the product to each brand contact

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables.

demographic

Jones & Company, a major retail chain across the United States, offers a wide range of consumer goods such as clothing, furniture, home appliances, cosmetics, jewelry, and food. Jones & Company is best described as a ________.

department store

descriptive research

describe characteristics of a population or phenomenon being studied

Product Life Cycle

describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline

Eric Dylan is the marketing director of a charity that raises funds to help provide educational services to children and families in developing countries. Eric targets a selective market of individuals who have recently donated to international charities by sending them a letter with the proposed plan for charity and instructions for those who are interested to participate. Eric uses ________ in this scenario.

direct mail marketing

cognitive dissonance

discomfort caused by post purchase conflict

Changes in technology and the explosive growth of direct and online marketing are having a profound impact on the nature and design of marketing channels. One major trend is toward ________ insofar as product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones.

disintermediation

Segmentation

dividing a market into several sections of customers is known as dividing a market into smaller pieces based on one or more meaningfully shared characteristics or behaviors and who might require separate marketing strategies or mixes

personal

effective sources of info about a product tend to be

Brands very in the amount of power and value they hold in the marketplace, iconic brings like apple, google, and harley davidson have achieved substantial brand

equity

High-end luxury brands like Bentley for cars, Louis Vuitton for handbags, and Rolex for watches use ________ distribution, giving a limited number of dealers the sole right to sell products in a specified geographic territory.

exclusive

The simplest way to enter a foreign market is through

exporting

In the marketing mix, product refers to activities that communicate the merits of a product and persuade target customers to buy it

false

Most producers sell their goods directly to final users

false

People use the same products and services as they progress through each life-cycle stage.

false

acquisitions are not considered a source of new products for organizations

false

marketers typically limit their market segmentation anaylsis to a single variable in order to simplify the process

false

unlike the other marketing mix elements, price plays a major role in creating customer vlaue and building customer relationships

false

Which of the following is a social factor that influence consumer buying behavior

family

needs

felt deprivation like food water shelter things that are needed for everyday life.

capturing value from the customer

final step in marketing process

more for less

firms that position themselves as caterers of the best products at economical prices

check 8 qustions

fjlksnl

what is the last step in the selling process

follow up

Consumer Insight

fresh marketing information-based understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships

P&G was among the first to use ________ segmentation when it introduced Secret, a deodorant brand specially formulated for women's chemistry.

gender

When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.

generating person-to-person brand conversations

Many organizations no longer have a clearly defined home market. Nor do they have home-office staffs. Instead, multicultural managers operate out of facilities located all around the world, bringing diverse cultural perspective

global organizations

In the ___________ stage, a firm most likely faces a trade off between high market share and high current profits

growth

which of the following statments is most likely true about the product life cycle

growth is a period of rapid market acceptance and increasing profits

Value Marketing

has become a watch word

compared with undifferentiated marketing, differentiated marketing is more likely to lead to

higher costs of doing business

ColaBlue, a soft drink manufacturer, is sued by an environmental group for not meeting certain safety standards in its waste disposal. ColaBlue remedies the problem by adding higher-grade filters and purifiers. Which of the following actions by ColaBlue would constitute a public-relations effort to address the effects of the lawsuit and the consequent damage to its brand image?

holding a press conference to explain the remedial steps that ColaBlue has taken

A channel Arrangement in which two or more companies at one level join together to follow new marketing opportunity is refered to as a

horizontal marketing system

The new product development process usually starts with

idea generation

Casey's is a large supermarket that practices everyday low pricing. Therefore, consumers should expect few discounts or sales if shopping at Casey's regularly

true

Dynamic pricing is particularly suitable for internet-based companies like amazon who want to be responsive to shoppers desired and market place changes

true

Even if a segment has the right size and growth and is structurally attractive, the company must consider

true

In today's digital, mobile, and social media environment, many buyers are more receptive to or even prefer phone and online contact versus the high level of face-to-face contact once required

true

Some retailers in the United States are growing faster than product retailers

true

The distinction between a consumer product and an industrial product is based on the purpose for which the product is purchased

true

While the societal marketing concept considers the future welfare of consumers and the sustainable marketing concept considers future company needs, the strategic planning concept considers both.

true

during the decline stage of the product life cycle, product sales may plunge to zero or may drop to a level where they can continue for many years

true

some cmpanies deemphasize price and use other marketing miz tools to create non-price positions in the market place

true

the moral of the product life cycle is that companies must continually innovate: otherwise they risk extinction

true

when consumers react more favorably to a brand than to a generic or unbranded version of the same product, the brand is said to have positive brand equity

true

According to the five-step model of the marketing process, the first step in marketing is ________.

understanding the marketplace and customer needs and wants

which of the following is an approach to where firms target a whole market based on common consumer needs

undifferentiated marketing

Critics who assert that the marketing system promotes too much interest in material possessions are most likely concerned that the result of successful marketing will be ________.

unsuitable overconsumption

not for profit

use informal research methods to obtain marketing insights

A pricing strategy for an offering begins with an assesment of customer needs and perceptions. then a target price is set based on customer needs and perceptions of worth

value based

Which of the following is most likely a true statement about diversity in the united states

various ethinic groups mix together but also retain their diferences

life insurance

which of the following is an example of an unsought product

________ includes all the activities involved in the selling goods and services to buying them for resale or business use

wholesaling

Which of the following is most likely true about a global organization

worldwide policies are planned by top corporate management

false

Acquisitions are not considered a source of new products for organizations.

actors in the macroenvironment

1. Demographic 2. Economic 3. Natural 4. Technological 5. Political 6. Cultural

Requirements for Effective Segmentation

1. Measurable 2. Accessible 3. Substantial 4. Differentiable 5. Actionable

Evaluating Market Segments

1. Segment size and growth 2. Segment structural attractiveness 3. Company objectives and resources

inseparability

A doctor performing hip surgery on a patient illustrates how a service can be produced and consumed simultaneously. This is an example of which service characteristic?

Which of the following is most likely true of a global firm?

A global firm manufactures and markets goods wherever it can do the best jobs

customer lifetime value

A key metric that measures the​ long-term profitability of individual customers or groups of customers is known as​ __________.

Zeal is a popular automobile brand, and its positioning statement reads as follows: "For upscale American families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?

A) point of difference

Kevin Pinker is a freelance computer programmer who writes computer algorithms for companies such as SoftStar and BlueHill. SoftStar and BlueHill use these algorithms to make specific programs based on online market research. These programs are then sold to the online retailer, Abundon, which then sells them to individual consumers and businesses. Which of the following is a marketing intermediary in this chain? A) SoftStar B) BlueHill C) the consumer D) Abundon E) Kevin Pinker

Abundon

Buying attitudes and preferences

__________ are a type of buyer response.

In which stage of the following cased is crowdsourcing used for new product development

a company creates a forum where anyone can contribute new product ideas

Which of the following is an example of a combination of sales promotions and direct marketing?

a company sending an e-mail to a customer about a discount on a product during a holiday season

Which of the following would be considered an upstream partner in a company's supply chain?

a firm the provides technical expertise in the production of a product

product line

a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges

Brand

a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products

brand

a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products

motive

a need that is sufficiently pressing to direct the person to seek satisfaction of the need

competitive advantage

a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition

customers are the most important

actors in the micro environemtn

Critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers most likely respond to this criticism by arguing that advertising ________.

adds value by giving consumer product information

Harry potts is a salesperson for a national pet food company. He meets karen sharp, a buyer for a large, specialty pet retailer, and speaks to her at length about the product categories and brands of pet food the retailer currently carries as well as future needs. At which step of the selling process is harry potts in the above scenario?

approach

focus group participants

are not always honest

marketing stimuli

are such things as product, price, place, and promotion and are considered part of the environment that influences the buyer's black box.

product positioning

arranging for a product occupy a clear distinctive and desirable place relative to competing products in the of the target consumers

Online visitors can't buy anything at ESPN.com. Instead, the site creates a virtual experience for sports enthusiasts and fans that can be customized to meet their needs. This is most likely an example of a(n) ________.

branded community website

Consumer buyer behavior

buying behavior of final consumers

establishing prices for razor companies must be used with a razor blade system is known as

captive product pricing

____________ is a discomfort caused by post purchase conflict

cognitive dissonance

Which of the following sources of product information can marketers control completely

commercial

Introducing a new product into the market is called ________.

commericaliation

When adapting advertising messages, media may also need to be adapted internationally because media availability and regulations vary from country to country. This illustrates ________.

communication adaptation

competition

companies that practice marketing --- create offerings and messages that engage consumers rather than interrupt them.

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

competitive marketing intelligence

product mix

consists of all of the product lines offered by an organization

Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the company has had remarkable sales and Krayons has remained unchanged. However, over the last few years, sales of Krayons have been stagnant. Competitors have begun marking prices down, and increasing their advertising and sales promotions. Craft's Krayons is most likely in the ________ stage of the PLC. A) introduction B) maturity C) growth D) decline E) incubation

maturity

compared to standardized global marketing, adapted global marketing

modifies marketing strategies to meet local needs

differentiated market

more likely to cost more

Which of the following strategies is most likely to be followed by firms that position themselves as caterers of the best products at economical priced

more- for less

a baby boomer decides to purchase a BMW to impress others with her success. This illustrates the importance of understanding the role of ______ in the marketing process.

motive

A marketing intermediary would most likely help a firm by

moving the firm's goods from production points to distribution centers firms that help the company to promote, sell, and distribute its goods to final buyers

Victoria's Closet, a manufacturer of bohemian-style clothing and accessories, sells its products through its online Web site, a catalogue, and specialty boutiques that target women. Which kind of channel arrangement does Victoria's Closet employ to distribute its products?

multichannel distribution system

Which of the following would most likely use informal research methods to obtain marketing insights?

not for profit or family owned

According to the text, the most logical budget-setting method in advertising is the ________ method.

objective and task

Co-branding

occurs when two established brand names of different companies are used on the same product

refers to marketing via the internet using company web sites, online advertising and promotions, e-mail marketing, online video and blogs.

online marketing

Which of the following is considered a major influence on business buyer behavior

organizational factors

____ is the process by which people select, organize, and interpret information to form a meaningful picture of the world

perception

the most effective sources of information about a product tend to be

personal

the most effective sources of information about product tend to be

personal

Wisconsin Cheddar has introduced an aged jalapeno cheddar. Displays are set up at various retail cheese stores in the state and patrons are offered free samples as well as $2 off coupons. Which promotion tool is Wisconsin Cheddar most likely using?

point of purchase promotions

PRIZM

popular geodemographic technique that stands for Potential Ratings Index by ZIP Market

VALS

popular psychographic method in consumer research that divides consumers into groups based on resources and consumer behavior motivations

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

Salon Du Jour offers special combination packages at a reduced price. Separately, a haircut is $30 and a conditioning treatment is $35. But the combo price is $50. This is referred to as ________ pricing.

product bundle

Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________.

product mix

Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called?

psychographic

Which of the following promotion mix approaches involves a producer promoting a product to different channel members who in turn promote the product to customers?

push

marketing surveys

quantitative approach to research

How have social media tools most likely affected personal selling?

reducing the use of person-to-person selling efforts

Market Targeting

refers to the process of evaluating each market segments attractiveness and selecting one or more segments to enter involves evaluating each market segment's attractiveness and selecting one or more segments to enter

_________ refers to their activities involved in selling products or services directly to final consumers for their personal, non business use.

retailing

innovative marketing most likely involves

seeking real product and marketing improvements

Segmentation Variables

segmentation, targeting AND differentiation and positioning 6.1

Both market penetration strategies and market development strategies primarily involve ________.

selling a companies current products

A class action lawsuit was brought against a national burger chain, charging that its food contributed to the national obesity epidemic. The suite was eventually dismissed, but critics continue to point out the health dangers of many fast food menu items. It can be concluded that these critics are concerned that the fast food industry is

selling harmful products

When a company chooses to divest a particular strategic business unit, it

sells off or phases out the strategic bus unit


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