Marketing Final

During concept testing, who is the product concept actually tested on?

Groups of target customers

According to the text, the most successful new products satisfy three criteria. What are these criteria?

They solve a major customer problem, are differentiated, and offer a compelling value proposition.

If a company finds that a new product concept is acceptable and should be moved forward, what is the next step in the new product development process?

Marketing strategy development

During the idea generation stage of the new product development process, it is important that __________.

Companies create a large number of ideas

Which of the following statements about new product development strategy is correct?

Innovation can be very expensive and very risky

One recent development in generating new product ideas is for a company to invite broad communities of people—such as employees, customers, and even the public at large—into the innovation process. This is known as __________.

crowdsourcing

Which of the following statements regarding socially responsible product decisions is correct?

The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition.

What must companies do to create successful new products?

Understand its consumers, markets, and competitors and develop products that deliver superior value.

A firm improves product quality and adds new product features and models. It also shifts some advertising from building product awareness to building product conviction and purchase. At which stage of the product life cycle would this be a recommended strategy?

growth

Installing an innovation management system to collect, review, evaluate, and manage new product ideas represents a(n) __________ approach to new product development.

systematic

Which of the following statements concerning new products is correct?

Modified and improved products are considered new.

A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity is called a(n) __________.

fad

Which of the following statements regarding the growth stage of the product life cycle is correct?

Companies face a trade-off between high market share and high profits

What is the first step of the new product development process?

Idea generation

Which of the following would be an appropriate strategy during the maturity stage of the product lifecycle?

Modify the market, product offering, or marketing mix.

What is a product concept?

A detailed version of a new product idea stated in meaningful consumer terms

When Dr. Footcare developed and launched a revolutionary new walking shoe, he knew that during the introductory stage of the product life cycle (PLC) __________.

sales would be slow and profits nonexistent

Most products today are in which stage of their product life cycle?

Maturity

Which of the following statements regarding standard test marketing is correct?

Test marketing can be costly and delay commercialization of the product

Which government agency has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law?

The Consumer Product Safety Commission

To succeed in France, McDonalds had to __________.

tailor their operations to local French preferences

Companies should take a holistic approach to new product development. This means that the process should be __________.

customer-centered, team-based, and systematic

At which stage of the new product development process is a physical product first developed?

product development

In the decline stage of the product life cycle, some companies continue to offer the product but reduce various costs, hoping that sales hold up. This is known as __________ the product.

harvesting

Which of the following statements is true regarding standardizing products for international markets?

Standardization decreases product design, manufacturing, and marketing costs

During concept testing, who is the product concept actually tested on?

Groups of target customers

According to the text, the most successful new products satisfy three criteria. What are these criteria?

They solve a major customer problem, are differentiated, and offer a compelling value proposition.

If a company finds that a new product concept is acceptable and should be moved forward, what is the next step in the new product development process?

Marketing strategy development

During the idea generation stage of the new product development process, it is important that __________.

Companies create a large number of ideas

Which of the following statements about new product development strategy is correct?

Innovation can be very expensive and very risky

One recent development in generating new product ideas is for a company to invite broad communities of people—such as employees, customers, and even the public at large—into the innovation process. This is known as __________.

crowdsourcing

Which of the following statements regarding socially responsible product decisions is correct?

The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition.

What must companies do to create successful new products?

Understand its consumers, markets, and competitors and develop products that deliver superior value.

A firm improves product quality and adds new product features and models. It also shifts some advertising from building product awareness to building product conviction and purchase. At which stage of the product life cycle would this be a recommended strategy?

Growth

Installing an innovation management system to collect, review, evaluate, and manage new product ideas represents a(n) __________ approach to new product development.

systematic

Which of the following statements concerning new products is correct?

Modified and improved products are considered new.

A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity is called a(n) __________.

fad

Which of the following statements regarding the growth stage of the product life cycle is correct?

Companies face a trade-off between high market share and high profits

What is the first step of the new product development process?

Idea generation

Which of the following would be an appropriate strategy during the maturity stage of the product lifecycle?

Modify the market, product offering, or marketing mix.

What is a product concept?

A detailed version of a new product idea stated in meaningful consumer terms

When Dr. Footcare developed and launched a revolutionary new walking shoe, he knew that during the introductory stage of the product life cycle (PLC) __________.

sales would be slow and profits nonexistent

Most products today are in which stage of their product life cycle?

Maturity

Which of the following statements regarding standard test marketing is correct?

Test marketing can be costly and delay commercialization of the product

Which government agency has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law?

The Consumer Product Safety Commission

To succeed in France, McDonalds had to __________.

tailor their operations to local French preferences

Companies should take a holistic approach to new product development. This means that the process should be __________.

customer-centered, team-based, and systematic

At which stage of the new product development process is a physical product first developed?

product development

In the decline stage of the product life cycle, some companies continue to offer the product but reduce various costs, hoping that sales hold up. This is known as __________ the product.

harvesting

Which of the following statements is true regarding standardizing products for international markets?

Standardization decreases product design, manufacturing, and marketing costs

Which factor sets the floor on setting a product's price?

product costs

The strategy of __________ means that the firm attempts to offer the right combination of quality and good service at a fair price.

good-value pricing

Which of the following statements about price is correct?

Customers have put increasing pricing pressures on many companies.

Which of the following statements is correct regarding different types of markets?

Under oligopolistic competition each seller is alert and responsive to competitors' pricing strategies and marketing moves

Luxury automobile manufacturers typically add quality, services, and other features to differentiate their offers and thus support their higher price. This is an example of __________.

Value-added pricing

On a break-even chart, the break-even volume is located __________.

At the intersection of total revenue and total costs

New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound and super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing?

Value-added pricing

Which of the following correctly identifies the three major pricing strategies used by marketers?

Customer value-based pricing, cost-based pricing, and competition-based pricing.

Which type of market consists of many buyers and sellers trading over a range of prices rather than a single market price?

Monopolistic competition

Retailers such as Macy's and JC Penney charge higher prices on an everyday basis, but run frequent promotions to lower prices temporarily on selected items. This is an example of __________.

high-low pricing

In which type of market does no buyer or seller have much impact on setting the going market price?

Pure competition

Which of the following statements is true regarding costs?

Average cost tends to decrease with accumulated production experience.

Which of the following is true regarding the price-demand relationship?

If demand is elastic, sellers will consider lowering their price.

Price is the only part of the marketing mix that __________.

produces revenue

What is the first thing marketers must do when using value-based pricing?

Assess customer needs and value perceptions

Which factor sets the ceiling on setting a product's price?

customer's value perceptions

Internal factors that affect pricing include __________.

the company's overall marketing strategy, objectives, and marketing mix.

Beyond the nature of the market, demand, and the economy, what other factors in a firm's external environment must a company consider when setting prices?

Resellers, the government, and social concerns

What is target costing?

Setting a price and then setting costs that will ensure that the price is met.

The amount of money charged for a product is its __________.

price

How is price determined using cost-plus pricing?

The price is set by adding a standard mark-up to the cost of the product

Which of the following is a cost-based pricing approach?

Break-even pricing.

A(n) __________ shows the number of units the market will buy in a given time period at different prices.

demand curve

Two external factors which must be considered in pricing decisions are __________.

Demand and the nature of the market.

Which of the following statements regarding customer valued-based pricing is correct?

In using this strategy, companies often find it hard to measure the value customer attach to their product.

A company has set a low price on a new product it introduced. They want to maximize their market share and attract a large number of buyers quickly. Which new product pricing strategy should the company use?

Market-penetration

When Apple Computer Company introduced their iPhone, they priced the new product at $599, considerably higher than either their iPod or competing cellular phones. Apple Computer was pursuing a(n) __________ pricing strategy

market-skimming

Which of the following statements is true concerning new product pricing strategies?

For a market-skimming strategy to be successful, the costs of producing a smaller volume cannot be so high that they cancel the advantage of charging more

One major objective of a market-penetration pricing strategy is to __________.

win a large market share

Whirlpool washers and dryers are offered in many different models. Whirlpool will use __________ pricing to determine the price steps between the different models.

product line

Which of the following is a concern when using optional-product pricing?

which products to include in the base price and which to offer as options

Gillette charges a fairly low price for their razors (relative to costs) and a high price for razor blades. They are using a strategy of __________ pricing.

Captive-product

Many amusement parks charge a daily ticket or season pass charge plus additional fees for food and other in-park features. This is called __________.

two-part pricing

Cheese makers in Wisconsin sell their leftover brine to local city and county highway departments, which use it in conjunction with salt to melt icy roads. Which product mix pricing strategy does this represent

By-product pricing

Many personal care companies combine toothpaste with a toothbrush at a reduced price. This is an example of __________ pricing.

product-bundle

Basic price adjustments known as __________ are used to reward customers for certain responses

discounts and allowances

A soda pop company offers a discount to a grocer. In exchange, the grocer agrees to provide in-store advertising for the soda pop and additional sales-support. This is an example of __________.

promotional allowances

One form of __________ is when movie theaters charge one price for adults and a different price for senior citizens.

customer-segment pricing

Which of the following statements regarding segmented pricing is correct?

Segmented pricing practices can cause consumer resentment

Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Because she does not know much about wine, she will likely use the price of the wines as a(n) __________.

indicator of quality

Promotional pricing tactics include __________

discounts, special-event pricing, and limited time offers.

Which of the following statements regarding dynamic pricing is correct?

Dynamic pricing could cause consumer resentment and damage customer relationships

Which of the following statements is true regarding initiating price cuts?

Cutting prices in an industry with excess capacity may lead to price wars.

Assume a competitor has cut prices and a company determines they should respond. Effective actions that the company could initiate include __________.

launch a low-price fighter brand

When would a competitor most likely react to a firm's price change?

When the number of firms involved is small

Which of the following statements regarding initiating price increases is correct?

The company should consider ways to meet higher costs or demand without raising prices

Recently, Amazon.com has been accused of ___________, which is the practice of selling products below cost to harm competitors.

predatory pricing

What is the purpose of the Robinson-Patman Act?

To prevent unfair price discrimination

Which of the following statements regarding public policy and pricing is correct?

Companies can, under some circumstances, price items below cost.

__________ occurs when retailers set an artificially high "regular price" and then advertise a "sale price" which is actually close to their everyday price

Deceptive Pricing

Company, suppliers, distributors, and customers who open double quote"partnerclose double quote" with one another to improve the performance of the entire system make up the __________.

value delivery network

One key function of channel members is __________, which involves shaping offers to meet the buyer's needs, including activities such as manufacturing, grading, assembling, and packaging.

Marketing

The length of a channel is determined by __________.

the number of intermediary levels

Which of the following is a reason that producers use marketing channels and channel intermediaries?

Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.

Which of the following statements is correct regarding the functions channel members perform?

Channel members create greater efficiencies than manufacturers could achieve on their own

In 2001, Apple opened its first Apple stores in the United States. These stores were owned and operated by Apple. This is an example of which type of vertical marketing system (VMS)?

Corporate

Walmart has a lot of power and exerts strong influence on the suppliers they buy from. This channel power is an example of a(n) __________ vertical marketing system (VMS).

administered

Which of the following statements regarding marketing channel behavior and design is correct?

The success of individual channel members depends on the overall channel's success

Due to changes in technology, a recent trend is for product or service producers to cut out intermediaries and go directly to final buyers. This is one form of __________.

disintermediation

Firms producing consumer electronics, furniture, and home appliance brands typically distribute their products __________.

selectively

What does the process of designing marketing channels start with?

Analyzing consumer needs

When setting channel objectives, companies should state the objectives in terms of __________.

targeted levels of customer service

Which of the following statements regarding marketing channel design is correct?

Channel alternatives should be evaluated against economic, control, and adaptability criteria

Which of the following is an example of horizontal channel conflict?

A Ford dealer complaining that another Ford dealer is advertising in their territory.

After the company has defined its channel objectives, it should next identify its major channel alternatives in terms of the types of intermediaries, the number of intermediaries, and __________.

The responsibilities of channel members

Which of the following statements regarding international distribution channels is correct?

Due to logistics costs in China, the majority of companies can only access affluent areas of major cities

CVS pharmacy stores have recently stopped selling cigarettes. For cigarette manufacturers, this highlights the challenge of __________ channel members.

selecting

Companies now use __________ and supply chain management software to help recruit, train, organize, manage, motivate, and evaluate channel partners.

partner relationship management

__________ is a practice whereby a producer agrees to sell a brand to a dealer only if the dealer agrees to sell some or all of the rest of its line.

Full-line forcing

Some sellers require that dealers not handle competitor's products. This strategy is called __________.

exclusive dealing

What are the four major functions of logistics?

Warehousing, inventory management, transportation, and logistics information management

Using __________, the customer shares real-time data on sales and current inventory levels with the supplier. The supplier then takes full responsibility for managing inventories and deliveries.

Vendor-managed inventory

Which of the following statements regarding a just-in-time logistics system is correct?

Just-in-time logistics systems allow producers and retailers to carry small inventories to last for only a few days of operations

Cross-functional teamwork within the company, building logistics partnerships, and third party logistics are all important elements of __________.

integrated logistics management

Which of the following statements regarding marketing logistics is correct?

The goal of marketing logistics should be to provide a targeted level of customer service at the least cost

__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale.

shopper marketing

Retailing today requires __________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

omni-channel retailing

Which of the following best reflects the role of retailing in the distribution channel?

All the activities involved in selling products or services directly to final consumers for their personal nonbusiness use

Which type of retailer carries narrow product lines with deep assortments within those lines?

specialty stores

Recently, superstores that are actually giant specialty stores, such as Petco and Home Depot, have seen tremendous growth. These types of superstores are called __________.

category killers

What are the four broad characteristics used to classify retail stores?

service, product lines, price, and organization

A discount store (for example, Target, Kohl's, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions?

lower margins and selling higher volume

What are the three main types of off-price retailers?

Independents, factory outlets, and warehouse clubs

Retailers must decide on which three major product variables?

product assortment, services mix, and store atmosphere

Which of the following statements about retailer marketing decisions is correct?

Many retailer identity three critical factors for retail success: location, location, and location

Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those decisions, retailers must first __________.

segment and define their target market

L.L.Bean has turned its flagship store and campus in Freeport, Maine into a full-fledged outdoor adventure center. There, customers can hike, kayak, or go seal watching at nearby Cisco Bay. This is an example of __________.

experiential retailing

A cluster of between 15 and 50 retail stores that usually contains a branch of a department store or variety store, a supermarket, specialty stores, professional offices, and (sometimes) a bank is a __________.

community shopping center

Which of the following statements regarding retailer pricing decisions is correct?

Most retailers seek either high markups on lower volume or low markups on volume

In terms of location, most stores today cluster together. What is the primary reason for this?

To increase their customer pulling power

One recent retailing trend resulting from economic conditions is __________.

tighter consumer spending

Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called __________.

retail convergence

Which of the following statements about major retail trends is true?

Online buying is growing at a much brisker pace than retail buying as a whole.

One new technology being adopted by retailers is __________. For example, when opted-in customers enter a store, a signal wakes up an app on their smartphone or tablet, which welcomes them and alerts them to location-specific rewards and personalized product recommendations within the store.

Beacon technology

Which of the following statements regarding green retailing is correct?

Green retailing initiatives extend to helping consumers be more environmentally responsible

Which of the following are the largest group of wholesalers, accounting for roughly 50 percent of all wholesaling?

Merchant wholesalers

How do brokers and agents differ from merchant wholesalers?

Brokers and agents do not take title and perform a limited number of specialized functions

Which of the following statements regarding wholesaling is correct?

Wholesalers must make decisions regarding their marketing mix

Which wholesaler channel function helps reduce inventory holding costs?

Warehousing

Which of the following is a recent trend in wholesaling?

Less distinction between large retailers and large wholesalers

______ is the promotion mix tool that consists of short-term incentives to encourage the purchase or sale of a product or service.

Sales Promotion

Specific promotional tools used in __________ include press releases, sponsorships, events, and web pages.

Public relations

Which promotional tool includes presentations, trade shows, and incentive programs?

Personal Selling

Which promotional tool is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor?

Advertising

__________ involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.

Direct and digital marketing

What are the three major factors identified in the text that are changing today's marketing communications landscape?

Consumers, marketing strategy, and digital technologies

Which of the following statements regarding the changing communications landscape is correct?

The dominance of television, magazines, newspapers, and other traditional mass media is declining.

What is the goal of integrated marketing communications?

To deliver clear, consistent, and compelling company and brand messages

Many marketers today create, inspire, and share brand messages and conversations with customers across a mix of communication channels. In this regard they view themselves as __________.

content marketing managers

A recent study showed that more than two-thirds of advertisers are planning video ad campaigns that stretch across multiple viewing platforms. This is called __________.

Video convergence

One reason there is a need for integrated marketing communications is that __________.

consumers don't distinguish between content sources the way marketers do.

Which of the following statements regarding advertising in the new marketing communications model is correct?

Advertisers are shifting towards digital media

Developing effective marketing communications starts with __________.

identifying the target audience

In the communication process, putting thought into symbolic form is called __________.

encoding

One framework for designing an effective message is the AIDA model. In the AIDA model __________.

attention leads to interest, which hopefully leads to desire and then action

Which of the following is the correct order of the six buyer-readiness stages?

Awareness, knowledge, liking, preference, conviction, and purchase

In the content of a message, marketers often use __________ appeals such as joy, love, humor, fear, and guilt.

emotional

Nonpersonal communication channels include __________.

major media, atmospheres, and events

__________ involves cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities.

Buzz marketing

One form of influence that carries great weight, especially for products that are expensive, risky, or highly visible is __________.

word of mouth

Which method for setting the total promotion budget is the most difficult to use?

The objective and task method

A company wishes to reach a large number of geographically dispersed buyers at a low cost per exposure. Which element of the promotional mix should the company use?

Advertising

Using a push strategy, a firm directs its promotional efforts toward __________.

channel members

At certain stages of the buying process, which element of the promotional mix is most effective in building up buyers' preferences, convictions, and actions?

personal selling

Which promotion budgeting method wrongly views sales as the cause of promotion rather than as the result?

Percentage of sales

Which of the following statements about advertising is correct

In addition to businesses, advertising is used by many types of organizations.

What is the first decision advertisers need to make when developing an advertising program?

Setting advertising objectives

Advertising objectives can be classified based on three primary purposes. What are the three purposes?

To inform, persuade, or remind

When a company directly or indirectly compares its brand with one or more other brands in an advertisement, they are using __________.

Comparative Advertising

Which type of advertising is heavily used for new product category introductions?

Informative

Which type of advertising is important for mature, established brands?

reminder

Which of the following statements about setting an advertising budget is correct?

New products typically need relatively large advertising budgets to build awareness and to gain consumer trial.

What are the two major elements of advertising strategy?

Creating messages and selecting media

Regardless of the size of the budget, to succeed, advertising must engage consumers and __________.

Communicate well

It is common to see product placementslong dash—embedding brands as props within other programming, such as TV shows or movies. Product placements are a form of __________.

Branded Entertainment

What is the intent of advertainment?

To make ads and brand content into soething that people actually want to watch

Advertising appeals should have three characteristics. These characteristics are...

to be meaningful, to be believable, and to be distinctive

To bring the message strategy to life in a distinctive and memorable way, advertisers devlop what is known as the "big idea." The big idea becomes the...

Creative Concept

Which execution style shows one or more "typical" people using the product in a normal setting?

Slice of life

What is the first step in the media selection process?

Determining reach, frequency, impact and engagement

What is media impact?

The qualitative value of exposure to a message

In selecting a media vehicle, media planners need to determine the cost of the vehicle's reach. To measure this, they use a method known as __________.

cost per 1,000

__________ consists of activities designed to engage and build good relations with the company's various publics.

Public Relations

The public relations function of __________ is used to build and maintain national or local community relationships.

Public Affairs

Which public relations function is used to work with donors or members of nonprofit organizations to gain financial or volunteer support?

Development

Which of the following statements about public relations is correct?

The lines between advertising and public relations are becoming more and more blurred.

One primary PR responsibility is to create content that __________.

draws consumers to a brand

A company holds a news conference to announce a new product launch. Which PR tool are they using in this example?

Special events

Annual reports, brochures, articles, and company newsletters all represent which type of PR tool?

Written Materials

Logos, stationery, brochures, signs, business cards, buildings, and uniforms are all types of __________.

Corporate identity materials

Which of the following statements is true regarding salespeople?

The best salespeople are the one work closely with customer for mutual gain.

Which of the following statements about personal selling is correct?

Many customers are unable to distinguish the salesperson from the company.

Some companies still treat sales and marketing as separate functions. One effect this can have is to

damage customer relationships

In complex selling situations, personal selling can be very effective because it is

interpersonal

The concept of salesperson-owned loyalty means that __________.

customers become loyal to salespeople as well as the companies they represent

What is the first decision made in sales force management?

Designing sales force strategy and structure

Procter & Gamble organizes its sales reps into teams, and each team is assigned to a major account (such as Safeway or Walmart). Which type of sales force structure is P&G using in this example?

Customer

Once the company has set its structure, what is the next strategic decision it faces?

Sizing the sales force

One study found that the best salespersons have four traits in common: intrinsic motivation, a disciplined work style, the ability to close a sale, and the ability to build relationships with customers. Knowing this would be most useful at which stage of sales force management?

Recruiting and selecting salespeople

What are the four elements of a compensation plan for salespeople?

A fixed amount, a variable amount, expenses, and fringe benefit

Helping salespeople to open double quote"work smartclose double quote" by doing the right things in the right ways is the goal of __________, whereas getting them to work hard is the goal of __________.

supervision; motivation

Sales reports, call reports, and expense reports are all used in the process of __________ salespeople.

evaluating

According to the text, what is the fastest-growing sales trend today?

Social selling

What is the focus of the selling process?

getting new customers

__________ identifies qualified potential customers and is the first step of the personal selling process.

Prospecting

During a sales presentation, which of the following would best fit a relationship marketing approach?

Tell a value story

After the presentation and demonstration step in the sales process, a salesperson should next be prepared to __________.

Handle objections

When the only goal of personal selling is to close a sale, a company is using a(n) __________ approach.

Transaction-oriented

Which of the following is an objective for trade promotions?

Getting retailers to carry new items and more inventory

Which of the following is an objective for business promotions?

Generating business leads

One consumer promotion tool is __________, which are goods offered free or at a low cost as an incentive to buy a product.

premiums

Delta Faucet partnered with Warrior Dash, which sponsored several 5k mud run races around the country over the summer. At each event, Delta built a huge custom shower station, complete with 184 Delta showerheads, where mud-soaked competitors could meet and wash off after the race. This is an example of which type of promotion?

Event Marketing

Which of the following tools can be used as both consumer and trade promotions?

Contests, premiums, and displays

Which of the following would NOT be a consideration for decision making in designing the full sales promotion program?

How to set it apart from other promotion mix elements

Many manufacturers have to pay retailers to get shelf space. This is an example of which type of promotion?

push money

Which form of marketing involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships?

Direct and digital marketing

The fastest growing form of marketing is __________.

direct and digital marketing

Buyers have increased their use of direct and digital marketing because they are __________.

easy, convenient, and private

Which of the following correctly identifies what direct and digital marketing offer sellers?

Inexpensive, efficient, and fast

Digital marketing can link brands to important moments in customer's lives. This aspect of digital marketing is called __________.

real-time marketing

Which of the following correctly identifies forms of digital direct marketing?

Online marketing, social media marketing, and mobile marketing

Many company websites are now designed to do more than just sell product. These websites, known as __________ websites, attempt to build closer customer relationships and generate engagement with and between the brand and its customers.

Brand community

What are the two main forms of online advertising?

Display ads and search-related ads

To avoid being intrusive and annoying, most legitimate email marketers practice __________, which means sending email pitches only to customers who "opt in."

permission based email marketing

What is the digital version of word-of-mouth marketing?

Viral Marketing

One drawback to viral marketing is that __________.

marketers cannot control where users pass along the message

Which of the following is a potential disadvantage to using blogs for marketing?

Blogs are a user-controlled medium

What is meant by the term "the Internet of Things" (IoT)?

That everyone and everything may soon be connected digitally

A marketing website should be easy to use and visually appealing. To be effective, these websites must also be __________.

useful

According to the text, what can be the ultimate direct marketing medium, assuming it is used correctly?

email

Which of the following would represent a niche online social networking site

Birdpost

Social media is ideal for starting and participating in customer conversations and listening to customer feedback. This is because social media is __________.

interactive

Which of the following is a challenge to marketers regarding their use of social media?

Social networks are largely user controlled

Which of the following would be best suited for marketers to engage customers anywhere and at any time during the buying and relationship-building processes?

Mobile-marketing

Which of the following statements regarding mobile marketing is correct?

Smartphones can be very useful in shopping situations

Direct mail is well suited for which of the following?

Direct, one-to-one communications

Many consumers today rent DVDs from a vending machine called Redbox that can be found in retail stores and other locations. Redbox is which type of direct marketing tool?

Kiosk

Which of the following statements regarding catalog marketing is correct?

Printed catelogs can drive online and mobile sales

Consumers may receive an email, supposedly from their bank or credit card company, saying that their account's security has been compromised. The sender asks them to log on to a provided web address and confirm their account and other personal information and then steals this private information. This is a fraudulent practice called __________.

phishing

According to the text, what is the toughest public policy issue now confronting the direct marketing industry?

privacy

Which of the following statements about the global marketplace is correct?

Domestic firms need to internationalize to take advantage of growing markets throughout the world

One barrier to international trade is when a country imposes biases against bids, restrictive product standards, or excessive host-country regulations or enforcement. These actions represent __________.

nontariff trade barriers

Which organization was designed to reassess trade barriers, establish new rules for international trade, impose international trade sanctions, and mediate global trade disputes?

The World Trade Organization

What are the two economic factors that reflect a country's attractiveness as a market?

Industrial structure and income distribution

Free trade zones can be described as...

groups of nations organized to work toward common goals in the regulation of international trade

Which type of industrial structure offers the fewest marketing opportunities?

Subsistence economies

To assess the impact of __________ on global markets, marketers would look to a country's norms, folkways, and taboos.

Culture

Nations that have too little hard currency to pay for their purchases from other countries will often use which method of international trade?

Barter

A country's attractiveness depends on the product, geographical factors, income and population, political climate, and other considerations. These factors relate to the importance of which of the following decisions?

The types of countries to enter

What is the simplest way to enter a foreign market

Through exporting

What are the four types of joint venture entry strategies?

Licensing, contract manufacturing, management contracting, and joint ownership

Which joint venturing method typically involves fees and royalty payments?

Licensing

Which market entry strategy has the greatest amount of commitment, risk, control, and profit potential?

Direct Investment

One market entry strategy is __________, in which the company makes agreements with companies in the foreign market to produce its product or provide its service.

contract manufacturing

What is the main disadvantage of direct investment?

The risks the firm faces

One factor that makes management contracting an attractive entry strategy is that __________.

It yields immediate income

Apple iPads, Gillette razors, and Black & Decker tools are all sold successfully in about the same form around the world. This is an example of which global strategy?

straight product extension

Dunkin Donuts has added menu items that meet the unique taste buds of customers in local markets, for example, mango pudding donuts in China. This represents which global product strategy

product adaptation

When using the global product strategy of __________, companies create something new to meet the needs of consumers in a given country.

product invention

In balancing standardization and adaptation, one common suggestion from international marketers is to __________.

think globally but act locally

Which of the following statements is true regarding pricing in global markets?

For most companies, their foreign prices probably will be higher than their domestic prices for comparable products

What are the two key links in a whole channel view of international distribution?

Channels between nations and channels within nations

A firm normally gets into international marketing by simply shipping out its goods. If its international sales expand, most companies then organize by __________.

establishing an export department

What are the three ways a company can organize its international operating units?

By geographical organizations, world product groups, and international subsidiaries

In which form of international organization are country managers responsible for salespeople, sales branches, distributors, and licensees in their respective countries?

Geographical organizations

The sustainable marketing concept focuses on __________.

the future needs of business and the future needs of consumers

For truly sustainable marketing to occur, what is required of the marketing system?

That it is smooth functioning

__________ considers the present needs of business and the future needs of consumers.

the societal marketing concept

Socially and environmentally responsible actions that meet both the immediate and future needs of customers and the company is the central principle of __________.

sustainable marketing

Which of the following considers the future needs of business and the current needs of consumers?

The strategic planning concept

Many critics charge that the American marketing system causes prices to be higher than they would be under more "sensible" systems. What are the three factors that critics say cause these inflated prices?

High costs of distribution, high costs of advertising and promotion, and excessive markups

Criticisms of marketing's impact on society as a whole include __________.

creating too much materialism, too few social goods, and cultural pollution

What is the purpose of high-pressure selling?

To persuade people to buy goods they had no thought of buying

Marketing critics accuse some producers of using materials and components that will break, wear, rust, or rot sooner than they should. This practice is known as __________.

planned obsolescence

What is redlining?

The failure of large retailers to put stores in disadvantaged areas

The organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers is called __________.

consumerism

According to the text, the move from irresponsible consumption to sustainable consumption is ultimately the responsibility of __________.

consumers

In going beyond greening, one thing companies can do internally is to __________.

plan for new clean technologies

Designing products that are easier to recover, reuse, recycle, or safely return to nature after usage is known as a(n) __________ practice.

cradle-to-cradle

Activities that pay off for the firm and environment in the short run are known as__________ activities, where as activities that pay off in the longer run are known as __________ activities.

greening; beyond greening

__________ requires that the company continually seek real product and marketing improvements

Innovative Marketing

Sense-of-mission marketing means that the company should define its mission in broad __________ terms rather than narrow product terms

Social

By practicing __________, enlightened marketers build long-run consumer engagement, loyalty, and relationships

customer value marketing

Following the principle of __________, a company makes marketing decisions by considering consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests.

societal marketing

According to societal marketing principles, breakfast foods that taste good and are also nutritious would be classified as __________ products.

desirable

According to societal marketing principles, bicycle helmets would be classified as a __________ product.

salutary

Because not all managers have fine moral sensitivity, companies should __________.

develop corporate marketing ethics policies

According to the text, the issue of ethics presents special challenges for __________.

international marketers

The American Marketing Association (AMA) developed a code of ethics for marketers based on three principles. These three principles are __________.

do no harm, embrace ethical values, and foster trust in the marketing system

How do sustainable companies create value for customers?

Through socially, environmentally, and ethically responsible actions

Marketing Final - Subjecto.com

Marketing Final

Your page rank:

Total word count: 6706
Pages: 24

Calculate the Price

- -
275 words
Looking for Expert Opinion?
Let us have a look at your work and suggest how to improve it!
Get a Consultant

During concept testing, who is the product concept actually tested on?

Groups of target customers

According to the text, the most successful new products satisfy three criteria. What are these criteria?

They solve a major customer problem, are differentiated, and offer a compelling value proposition.

If a company finds that a new product concept is acceptable and should be moved forward, what is the next step in the new product development process?

Marketing strategy development

During the idea generation stage of the new product development process, it is important that __________.

Companies create a large number of ideas

Which of the following statements about new product development strategy is correct?

Innovation can be very expensive and very risky

One recent development in generating new product ideas is for a company to invite broad communities of people—such as employees, customers, and even the public at large—into the innovation process. This is known as __________.

crowdsourcing

Which of the following statements regarding socially responsible product decisions is correct?

The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition.

What must companies do to create successful new products?

Understand its consumers, markets, and competitors and develop products that deliver superior value.

A firm improves product quality and adds new product features and models. It also shifts some advertising from building product awareness to building product conviction and purchase. At which stage of the product life cycle would this be a recommended strategy?

growth

Installing an innovation management system to collect, review, evaluate, and manage new product ideas represents a(n) __________ approach to new product development.

systematic

Which of the following statements concerning new products is correct?

Modified and improved products are considered new.

A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity is called a(n) __________.

fad

Which of the following statements regarding the growth stage of the product life cycle is correct?

Companies face a trade-off between high market share and high profits

What is the first step of the new product development process?

Idea generation

Which of the following would be an appropriate strategy during the maturity stage of the product lifecycle?

Modify the market, product offering, or marketing mix.

What is a product concept?

A detailed version of a new product idea stated in meaningful consumer terms

When Dr. Footcare developed and launched a revolutionary new walking shoe, he knew that during the introductory stage of the product life cycle (PLC) __________.

sales would be slow and profits nonexistent

Most products today are in which stage of their product life cycle?

Maturity

Which of the following statements regarding standard test marketing is correct?

Test marketing can be costly and delay commercialization of the product

Which government agency has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law?

The Consumer Product Safety Commission

To succeed in France, McDonalds had to __________.

tailor their operations to local French preferences

Companies should take a holistic approach to new product development. This means that the process should be __________.

customer-centered, team-based, and systematic

At which stage of the new product development process is a physical product first developed?

product development

In the decline stage of the product life cycle, some companies continue to offer the product but reduce various costs, hoping that sales hold up. This is known as __________ the product.

harvesting

Which of the following statements is true regarding standardizing products for international markets?

Standardization decreases product design, manufacturing, and marketing costs

During concept testing, who is the product concept actually tested on?

Groups of target customers

According to the text, the most successful new products satisfy three criteria. What are these criteria?

They solve a major customer problem, are differentiated, and offer a compelling value proposition.

If a company finds that a new product concept is acceptable and should be moved forward, what is the next step in the new product development process?

Marketing strategy development

During the idea generation stage of the new product development process, it is important that __________.

Companies create a large number of ideas

Which of the following statements about new product development strategy is correct?

Innovation can be very expensive and very risky

One recent development in generating new product ideas is for a company to invite broad communities of people—such as employees, customers, and even the public at large—into the innovation process. This is known as __________.

crowdsourcing

Which of the following statements regarding socially responsible product decisions is correct?

The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition.

What must companies do to create successful new products?

Understand its consumers, markets, and competitors and develop products that deliver superior value.

A firm improves product quality and adds new product features and models. It also shifts some advertising from building product awareness to building product conviction and purchase. At which stage of the product life cycle would this be a recommended strategy?

Growth

Installing an innovation management system to collect, review, evaluate, and manage new product ideas represents a(n) __________ approach to new product development.

systematic

Which of the following statements concerning new products is correct?

Modified and improved products are considered new.

A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity is called a(n) __________.

fad

Which of the following statements regarding the growth stage of the product life cycle is correct?

Companies face a trade-off between high market share and high profits

What is the first step of the new product development process?

Idea generation

Which of the following would be an appropriate strategy during the maturity stage of the product lifecycle?

Modify the market, product offering, or marketing mix.

What is a product concept?

A detailed version of a new product idea stated in meaningful consumer terms

When Dr. Footcare developed and launched a revolutionary new walking shoe, he knew that during the introductory stage of the product life cycle (PLC) __________.

sales would be slow and profits nonexistent

Most products today are in which stage of their product life cycle?

Maturity

Which of the following statements regarding standard test marketing is correct?

Test marketing can be costly and delay commercialization of the product

Which government agency has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law?

The Consumer Product Safety Commission

To succeed in France, McDonalds had to __________.

tailor their operations to local French preferences

Companies should take a holistic approach to new product development. This means that the process should be __________.

customer-centered, team-based, and systematic

At which stage of the new product development process is a physical product first developed?

product development

In the decline stage of the product life cycle, some companies continue to offer the product but reduce various costs, hoping that sales hold up. This is known as __________ the product.

harvesting

Which of the following statements is true regarding standardizing products for international markets?

Standardization decreases product design, manufacturing, and marketing costs

Which factor sets the floor on setting a product’s price?

product costs

The strategy of __________ means that the firm attempts to offer the right combination of quality and good service at a fair price.

good-value pricing

Which of the following statements about price is correct?

Customers have put increasing pricing pressures on many companies.

Which of the following statements is correct regarding different types of markets?

Under oligopolistic competition each seller is alert and responsive to competitors’ pricing strategies and marketing moves

Luxury automobile manufacturers typically add quality, services, and other features to differentiate their offers and thus support their higher price. This is an example of __________.

Value-added pricing

On a break-even chart, the break-even volume is located __________.

At the intersection of total revenue and total costs

New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound and super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing?

Value-added pricing

Which of the following correctly identifies the three major pricing strategies used by marketers?

Customer value-based pricing, cost-based pricing, and competition-based pricing.

Which type of market consists of many buyers and sellers trading over a range of prices rather than a single market price?

Monopolistic competition

Retailers such as Macy’s and JC Penney charge higher prices on an everyday basis, but run frequent promotions to lower prices temporarily on selected items. This is an example of __________.

high-low pricing

In which type of market does no buyer or seller have much impact on setting the going market price?

Pure competition

Which of the following statements is true regarding costs?

Average cost tends to decrease with accumulated production experience.

Which of the following is true regarding the price-demand relationship?

If demand is elastic, sellers will consider lowering their price.

Price is the only part of the marketing mix that __________.

produces revenue

What is the first thing marketers must do when using value-based pricing?

Assess customer needs and value perceptions

Which factor sets the ceiling on setting a product’s price?

customer’s value perceptions

Internal factors that affect pricing include __________.

the company’s overall marketing strategy, objectives, and marketing mix.

Beyond the nature of the market, demand, and the economy, what other factors in a firm’s external environment must a company consider when setting prices?

Resellers, the government, and social concerns

What is target costing?

Setting a price and then setting costs that will ensure that the price is met.

The amount of money charged for a product is its __________.

price

How is price determined using cost-plus pricing?

The price is set by adding a standard mark-up to the cost of the product

Which of the following is a cost-based pricing approach?

Break-even pricing.

A(n) __________ shows the number of units the market will buy in a given time period at different prices.

demand curve

Two external factors which must be considered in pricing decisions are __________.

Demand and the nature of the market.

Which of the following statements regarding customer valued-based pricing is correct?

In using this strategy, companies often find it hard to measure the value customer attach to their product.

A company has set a low price on a new product it introduced. They want to maximize their market share and attract a large number of buyers quickly. Which new product pricing strategy should the company use?

Market-penetration

When Apple Computer Company introduced their iPhone, they priced the new product at $599, considerably higher than either their iPod or competing cellular phones. Apple Computer was pursuing a(n) __________ pricing strategy

market-skimming

Which of the following statements is true concerning new product pricing strategies?

For a market-skimming strategy to be successful, the costs of producing a smaller volume cannot be so high that they cancel the advantage of charging more

One major objective of a market-penetration pricing strategy is to __________.

win a large market share

Whirlpool washers and dryers are offered in many different models. Whirlpool will use __________ pricing to determine the price steps between the different models.

product line

Which of the following is a concern when using optional-product pricing?

which products to include in the base price and which to offer as options

Gillette charges a fairly low price for their razors (relative to costs) and a high price for razor blades. They are using a strategy of __________ pricing.

Captive-product

Many amusement parks charge a daily ticket or season pass charge plus additional fees for food and other in-park features. This is called __________.

two-part pricing

Cheese makers in Wisconsin sell their leftover brine to local city and county highway departments, which use it in conjunction with salt to melt icy roads. Which product mix pricing strategy does this represent

By-product pricing

Many personal care companies combine toothpaste with a toothbrush at a reduced price. This is an example of __________ pricing.

product-bundle

Basic price adjustments known as __________ are used to reward customers for certain responses

discounts and allowances

A soda pop company offers a discount to a grocer. In exchange, the grocer agrees to provide in-store advertising for the soda pop and additional sales-support. This is an example of __________.

promotional allowances

One form of __________ is when movie theaters charge one price for adults and a different price for senior citizens.

customer-segment pricing

Which of the following statements regarding segmented pricing is correct?

Segmented pricing practices can cause consumer resentment

Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Because she does not know much about wine, she will likely use the price of the wines as a(n) __________.

indicator of quality

Promotional pricing tactics include __________

discounts, special-event pricing, and limited time offers.

Which of the following statements regarding dynamic pricing is correct?

Dynamic pricing could cause consumer resentment and damage customer relationships

Which of the following statements is true regarding initiating price cuts?

Cutting prices in an industry with excess capacity may lead to price wars.

Assume a competitor has cut prices and a company determines they should respond. Effective actions that the company could initiate include __________.

launch a low-price fighter brand

When would a competitor most likely react to a firm’s price change?

When the number of firms involved is small

Which of the following statements regarding initiating price increases is correct?

The company should consider ways to meet higher costs or demand without raising prices

Recently, Amazon.com has been accused of ___________, which is the practice of selling products below cost to harm competitors.

predatory pricing

What is the purpose of the Robinson-Patman Act?

To prevent unfair price discrimination

Which of the following statements regarding public policy and pricing is correct?

Companies can, under some circumstances, price items below cost.

__________ occurs when retailers set an artificially high "regular price" and then advertise a "sale price" which is actually close to their everyday price

Deceptive Pricing

Company, suppliers, distributors, and customers who open double quote"partnerclose double quote" with one another to improve the performance of the entire system make up the __________.

value delivery network

One key function of channel members is __________, which involves shaping offers to meet the buyer’s needs, including activities such as manufacturing, grading, assembling, and packaging.

Marketing

The length of a channel is determined by __________.

the number of intermediary levels

Which of the following is a reason that producers use marketing channels and channel intermediaries?

Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.

Which of the following statements is correct regarding the functions channel members perform?

Channel members create greater efficiencies than manufacturers could achieve on their own

In 2001, Apple opened its first Apple stores in the United States. These stores were owned and operated by Apple. This is an example of which type of vertical marketing system (VMS)?

Corporate

Walmart has a lot of power and exerts strong influence on the suppliers they buy from. This channel power is an example of a(n) __________ vertical marketing system (VMS).

administered

Which of the following statements regarding marketing channel behavior and design is correct?

The success of individual channel members depends on the overall channel’s success

Due to changes in technology, a recent trend is for product or service producers to cut out intermediaries and go directly to final buyers. This is one form of __________.

disintermediation

Firms producing consumer electronics, furniture, and home appliance brands typically distribute their products __________.

selectively

What does the process of designing marketing channels start with?

Analyzing consumer needs

When setting channel objectives, companies should state the objectives in terms of __________.

targeted levels of customer service

Which of the following statements regarding marketing channel design is correct?

Channel alternatives should be evaluated against economic, control, and adaptability criteria

Which of the following is an example of horizontal channel conflict?

A Ford dealer complaining that another Ford dealer is advertising in their territory.

After the company has defined its channel objectives, it should next identify its major channel alternatives in terms of the types of intermediaries, the number of intermediaries, and __________.

The responsibilities of channel members

Which of the following statements regarding international distribution channels is correct?

Due to logistics costs in China, the majority of companies can only access affluent areas of major cities

CVS pharmacy stores have recently stopped selling cigarettes. For cigarette manufacturers, this highlights the challenge of __________ channel members.

selecting

Companies now use __________ and supply chain management software to help recruit, train, organize, manage, motivate, and evaluate channel partners.

partner relationship management

__________ is a practice whereby a producer agrees to sell a brand to a dealer only if the dealer agrees to sell some or all of the rest of its line.

Full-line forcing

Some sellers require that dealers not handle competitor’s products. This strategy is called __________.

exclusive dealing

What are the four major functions of logistics?

Warehousing, inventory management, transportation, and logistics information management

Using __________, the customer shares real-time data on sales and current inventory levels with the supplier. The supplier then takes full responsibility for managing inventories and deliveries.

Vendor-managed inventory

Which of the following statements regarding a just-in-time logistics system is correct?

Just-in-time logistics systems allow producers and retailers to carry small inventories to last for only a few days of operations

Cross-functional teamwork within the company, building logistics partnerships, and third party logistics are all important elements of __________.

integrated logistics management

Which of the following statements regarding marketing logistics is correct?

The goal of marketing logistics should be to provide a targeted level of customer service at the least cost

__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale.

shopper marketing

Retailing today requires __________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

omni-channel retailing

Which of the following best reflects the role of retailing in the distribution channel?

All the activities involved in selling products or services directly to final consumers for their personal nonbusiness use

Which type of retailer carries narrow product lines with deep assortments within those lines?

specialty stores

Recently, superstores that are actually giant specialty stores, such as Petco and Home Depot, have seen tremendous growth. These types of superstores are called __________.

category killers

What are the four broad characteristics used to classify retail stores?

service, product lines, price, and organization

A discount store (for example, Target, Kohl’s, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions?

lower margins and selling higher volume

What are the three main types of off-price retailers?

Independents, factory outlets, and warehouse clubs

Retailers must decide on which three major product variables?

product assortment, services mix, and store atmosphere

Which of the following statements about retailer marketing decisions is correct?

Many retailer identity three critical factors for retail success: location, location, and location

Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those decisions, retailers must first __________.

segment and define their target market

L.L.Bean has turned its flagship store and campus in Freeport, Maine into a full-fledged outdoor adventure center. There, customers can hike, kayak, or go seal watching at nearby Cisco Bay. This is an example of __________.

experiential retailing

A cluster of between 15 and 50 retail stores that usually contains a branch of a department store or variety store, a supermarket, specialty stores, professional offices, and (sometimes) a bank is a __________.

community shopping center

Which of the following statements regarding retailer pricing decisions is correct?

Most retailers seek either high markups on lower volume or low markups on volume

In terms of location, most stores today cluster together. What is the primary reason for this?

To increase their customer pulling power

One recent retailing trend resulting from economic conditions is __________.

tighter consumer spending

Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called __________.

retail convergence

Which of the following statements about major retail trends is true?

Online buying is growing at a much brisker pace than retail buying as a whole.

One new technology being adopted by retailers is __________. For example, when opted-in customers enter a store, a signal wakes up an app on their smartphone or tablet, which welcomes them and alerts them to location-specific rewards and personalized product recommendations within the store.

Beacon technology

Which of the following statements regarding green retailing is correct?

Green retailing initiatives extend to helping consumers be more environmentally responsible

Which of the following are the largest group of wholesalers, accounting for roughly 50 percent of all wholesaling?

Merchant wholesalers

How do brokers and agents differ from merchant wholesalers?

Brokers and agents do not take title and perform a limited number of specialized functions

Which of the following statements regarding wholesaling is correct?

Wholesalers must make decisions regarding their marketing mix

Which wholesaler channel function helps reduce inventory holding costs?

Warehousing

Which of the following is a recent trend in wholesaling?

Less distinction between large retailers and large wholesalers

______ is the promotion mix tool that consists of short-term incentives to encourage the purchase or sale of a product or service.

Sales Promotion

Specific promotional tools used in __________ include press releases, sponsorships, events, and web pages.

Public relations

Which promotional tool includes presentations, trade shows, and incentive programs?

Personal Selling

Which promotional tool is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor?

Advertising

__________ involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.

Direct and digital marketing

What are the three major factors identified in the text that are changing today’s marketing communications landscape?

Consumers, marketing strategy, and digital technologies

Which of the following statements regarding the changing communications landscape is correct?

The dominance of television, magazines, newspapers, and other traditional mass media is declining.

What is the goal of integrated marketing communications?

To deliver clear, consistent, and compelling company and brand messages

Many marketers today create, inspire, and share brand messages and conversations with customers across a mix of communication channels. In this regard they view themselves as __________.

content marketing managers

A recent study showed that more than two-thirds of advertisers are planning video ad campaigns that stretch across multiple viewing platforms. This is called __________.

Video convergence

One reason there is a need for integrated marketing communications is that __________.

consumers don’t distinguish between content sources the way marketers do.

Which of the following statements regarding advertising in the new marketing communications model is correct?

Advertisers are shifting towards digital media

Developing effective marketing communications starts with __________.

identifying the target audience

In the communication process, putting thought into symbolic form is called __________.

encoding

One framework for designing an effective message is the AIDA model. In the AIDA model __________.

attention leads to interest, which hopefully leads to desire and then action

Which of the following is the correct order of the six buyer-readiness stages?

Awareness, knowledge, liking, preference, conviction, and purchase

In the content of a message, marketers often use __________ appeals such as joy, love, humor, fear, and guilt.

emotional

Nonpersonal communication channels include __________.

major media, atmospheres, and events

__________ involves cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities.

Buzz marketing

One form of influence that carries great weight, especially for products that are expensive, risky, or highly visible is __________.

word of mouth

Which method for setting the total promotion budget is the most difficult to use?

The objective and task method

A company wishes to reach a large number of geographically dispersed buyers at a low cost per exposure. Which element of the promotional mix should the company use?

Advertising

Using a push strategy, a firm directs its promotional efforts toward __________.

channel members

At certain stages of the buying process, which element of the promotional mix is most effective in building up buyers’ preferences, convictions, and actions?

personal selling

Which promotion budgeting method wrongly views sales as the cause of promotion rather than as the result?

Percentage of sales

Which of the following statements about advertising is correct

In addition to businesses, advertising is used by many types of organizations.

What is the first decision advertisers need to make when developing an advertising program?

Setting advertising objectives

Advertising objectives can be classified based on three primary purposes. What are the three purposes?

To inform, persuade, or remind

When a company directly or indirectly compares its brand with one or more other brands in an advertisement, they are using __________.

Comparative Advertising

Which type of advertising is heavily used for new product category introductions?

Informative

Which type of advertising is important for mature, established brands?

reminder

Which of the following statements about setting an advertising budget is correct?

New products typically need relatively large advertising budgets to build awareness and to gain consumer trial.

What are the two major elements of advertising strategy?

Creating messages and selecting media

Regardless of the size of the budget, to succeed, advertising must engage consumers and __________.

Communicate well

It is common to see product placementslong dash—embedding brands as props within other programming, such as TV shows or movies. Product placements are a form of __________.

Branded Entertainment

What is the intent of advertainment?

To make ads and brand content into soething that people actually want to watch

Advertising appeals should have three characteristics. These characteristics are…

to be meaningful, to be believable, and to be distinctive

To bring the message strategy to life in a distinctive and memorable way, advertisers devlop what is known as the "big idea." The big idea becomes the…

Creative Concept

Which execution style shows one or more "typical" people using the product in a normal setting?

Slice of life

What is the first step in the media selection process?

Determining reach, frequency, impact and engagement

What is media impact?

The qualitative value of exposure to a message

In selecting a media vehicle, media planners need to determine the cost of the vehicle’s reach. To measure this, they use a method known as __________.

cost per 1,000

__________ consists of activities designed to engage and build good relations with the company’s various publics.

Public Relations

The public relations function of __________ is used to build and maintain national or local community relationships.

Public Affairs

Which public relations function is used to work with donors or members of nonprofit organizations to gain financial or volunteer support?

Development

Which of the following statements about public relations is correct?

The lines between advertising and public relations are becoming more and more blurred.

One primary PR responsibility is to create content that __________.

draws consumers to a brand

A company holds a news conference to announce a new product launch. Which PR tool are they using in this example?

Special events

Annual reports, brochures, articles, and company newsletters all represent which type of PR tool?

Written Materials

Logos, stationery, brochures, signs, business cards, buildings, and uniforms are all types of __________.

Corporate identity materials

Which of the following statements is true regarding salespeople?

The best salespeople are the one work closely with customer for mutual gain.

Which of the following statements about personal selling is correct?

Many customers are unable to distinguish the salesperson from the company.

Some companies still treat sales and marketing as separate functions. One effect this can have is to

damage customer relationships

In complex selling situations, personal selling can be very effective because it is

interpersonal

The concept of salesperson-owned loyalty means that __________.

customers become loyal to salespeople as well as the companies they represent

What is the first decision made in sales force management?

Designing sales force strategy and structure

Procter & Gamble organizes its sales reps into teams, and each team is assigned to a major account (such as Safeway or Walmart). Which type of sales force structure is P&G using in this example?

Customer

Once the company has set its structure, what is the next strategic decision it faces?

Sizing the sales force

One study found that the best salespersons have four traits in common: intrinsic motivation, a disciplined work style, the ability to close a sale, and the ability to build relationships with customers. Knowing this would be most useful at which stage of sales force management?

Recruiting and selecting salespeople

What are the four elements of a compensation plan for salespeople?

A fixed amount, a variable amount, expenses, and fringe benefit

Helping salespeople to open double quote"work smartclose double quote" by doing the right things in the right ways is the goal of __________, whereas getting them to work hard is the goal of __________.

supervision; motivation

Sales reports, call reports, and expense reports are all used in the process of __________ salespeople.

evaluating

According to the text, what is the fastest-growing sales trend today?

Social selling

What is the focus of the selling process?

getting new customers

__________ identifies qualified potential customers and is the first step of the personal selling process.

Prospecting

During a sales presentation, which of the following would best fit a relationship marketing approach?

Tell a value story

After the presentation and demonstration step in the sales process, a salesperson should next be prepared to __________.

Handle objections

When the only goal of personal selling is to close a sale, a company is using a(n) __________ approach.

Transaction-oriented

Which of the following is an objective for trade promotions?

Getting retailers to carry new items and more inventory

Which of the following is an objective for business promotions?

Generating business leads

One consumer promotion tool is __________, which are goods offered free or at a low cost as an incentive to buy a product.

premiums

Delta Faucet partnered with Warrior Dash, which sponsored several 5k mud run races around the country over the summer. At each event, Delta built a huge custom shower station, complete with 184 Delta showerheads, where mud-soaked competitors could meet and wash off after the race. This is an example of which type of promotion?

Event Marketing

Which of the following tools can be used as both consumer and trade promotions?

Contests, premiums, and displays

Which of the following would NOT be a consideration for decision making in designing the full sales promotion program?

How to set it apart from other promotion mix elements

Many manufacturers have to pay retailers to get shelf space. This is an example of which type of promotion?

push money

Which form of marketing involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships?

Direct and digital marketing

The fastest growing form of marketing is __________.

direct and digital marketing

Buyers have increased their use of direct and digital marketing because they are __________.

easy, convenient, and private

Which of the following correctly identifies what direct and digital marketing offer sellers?

Inexpensive, efficient, and fast

Digital marketing can link brands to important moments in customer’s lives. This aspect of digital marketing is called __________.

real-time marketing

Which of the following correctly identifies forms of digital direct marketing?

Online marketing, social media marketing, and mobile marketing

Many company websites are now designed to do more than just sell product. These websites, known as __________ websites, attempt to build closer customer relationships and generate engagement with and between the brand and its customers.

Brand community

What are the two main forms of online advertising?

Display ads and search-related ads

To avoid being intrusive and annoying, most legitimate email marketers practice __________, which means sending email pitches only to customers who "opt in."

permission based email marketing

What is the digital version of word-of-mouth marketing?

Viral Marketing

One drawback to viral marketing is that __________.

marketers cannot control where users pass along the message

Which of the following is a potential disadvantage to using blogs for marketing?

Blogs are a user-controlled medium

What is meant by the term "the Internet of Things" (IoT)?

That everyone and everything may soon be connected digitally

A marketing website should be easy to use and visually appealing. To be effective, these websites must also be __________.

useful

According to the text, what can be the ultimate direct marketing medium, assuming it is used correctly?

email

Which of the following would represent a niche online social networking site

Birdpost

Social media is ideal for starting and participating in customer conversations and listening to customer feedback. This is because social media is __________.

interactive

Which of the following is a challenge to marketers regarding their use of social media?

Social networks are largely user controlled

Which of the following would be best suited for marketers to engage customers anywhere and at any time during the buying and relationship-building processes?

Mobile-marketing

Which of the following statements regarding mobile marketing is correct?

Smartphones can be very useful in shopping situations

Direct mail is well suited for which of the following?

Direct, one-to-one communications

Many consumers today rent DVDs from a vending machine called Redbox that can be found in retail stores and other locations. Redbox is which type of direct marketing tool?

Kiosk

Which of the following statements regarding catalog marketing is correct?

Printed catelogs can drive online and mobile sales

Consumers may receive an email, supposedly from their bank or credit card company, saying that their account’s security has been compromised. The sender asks them to log on to a provided web address and confirm their account and other personal information and then steals this private information. This is a fraudulent practice called __________.

phishing

According to the text, what is the toughest public policy issue now confronting the direct marketing industry?

privacy

Which of the following statements about the global marketplace is correct?

Domestic firms need to internationalize to take advantage of growing markets throughout the world

One barrier to international trade is when a country imposes biases against bids, restrictive product standards, or excessive host-country regulations or enforcement. These actions represent __________.

nontariff trade barriers

Which organization was designed to reassess trade barriers, establish new rules for international trade, impose international trade sanctions, and mediate global trade disputes?

The World Trade Organization

What are the two economic factors that reflect a country’s attractiveness as a market?

Industrial structure and income distribution

Free trade zones can be described as…

groups of nations organized to work toward common goals in the regulation of international trade

Which type of industrial structure offers the fewest marketing opportunities?

Subsistence economies

To assess the impact of __________ on global markets, marketers would look to a country’s norms, folkways, and taboos.

Culture

Nations that have too little hard currency to pay for their purchases from other countries will often use which method of international trade?

Barter

A country’s attractiveness depends on the product, geographical factors, income and population, political climate, and other considerations. These factors relate to the importance of which of the following decisions?

The types of countries to enter

What is the simplest way to enter a foreign market

Through exporting

What are the four types of joint venture entry strategies?

Licensing, contract manufacturing, management contracting, and joint ownership

Which joint venturing method typically involves fees and royalty payments?

Licensing

Which market entry strategy has the greatest amount of commitment, risk, control, and profit potential?

Direct Investment

One market entry strategy is __________, in which the company makes agreements with companies in the foreign market to produce its product or provide its service.

contract manufacturing

What is the main disadvantage of direct investment?

The risks the firm faces

One factor that makes management contracting an attractive entry strategy is that __________.

It yields immediate income

Apple iPads, Gillette razors, and Black & Decker tools are all sold successfully in about the same form around the world. This is an example of which global strategy?

straight product extension

Dunkin Donuts has added menu items that meet the unique taste buds of customers in local markets, for example, mango pudding donuts in China. This represents which global product strategy

product adaptation

When using the global product strategy of __________, companies create something new to meet the needs of consumers in a given country.

product invention

In balancing standardization and adaptation, one common suggestion from international marketers is to __________.

think globally but act locally

Which of the following statements is true regarding pricing in global markets?

For most companies, their foreign prices probably will be higher than their domestic prices for comparable products

What are the two key links in a whole channel view of international distribution?

Channels between nations and channels within nations

A firm normally gets into international marketing by simply shipping out its goods. If its international sales expand, most companies then organize by __________.

establishing an export department

What are the three ways a company can organize its international operating units?

By geographical organizations, world product groups, and international subsidiaries

In which form of international organization are country managers responsible for salespeople, sales branches, distributors, and licensees in their respective countries?

Geographical organizations

The sustainable marketing concept focuses on __________.

the future needs of business and the future needs of consumers

For truly sustainable marketing to occur, what is required of the marketing system?

That it is smooth functioning

__________ considers the present needs of business and the future needs of consumers.

the societal marketing concept

Socially and environmentally responsible actions that meet both the immediate and future needs of customers and the company is the central principle of __________.

sustainable marketing

Which of the following considers the future needs of business and the current needs of consumers?

The strategic planning concept

Many critics charge that the American marketing system causes prices to be higher than they would be under more "sensible" systems. What are the three factors that critics say cause these inflated prices?

High costs of distribution, high costs of advertising and promotion, and excessive markups

Criticisms of marketing’s impact on society as a whole include __________.

creating too much materialism, too few social goods, and cultural pollution

What is the purpose of high-pressure selling?

To persuade people to buy goods they had no thought of buying

Marketing critics accuse some producers of using materials and components that will break, wear, rust, or rot sooner than they should. This practice is known as __________.

planned obsolescence

What is redlining?

The failure of large retailers to put stores in disadvantaged areas

The organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers is called __________.

consumerism

According to the text, the move from irresponsible consumption to sustainable consumption is ultimately the responsibility of __________.

consumers

In going beyond greening, one thing companies can do internally is to __________.

plan for new clean technologies

Designing products that are easier to recover, reuse, recycle, or safely return to nature after usage is known as a(n) __________ practice.

cradle-to-cradle

Activities that pay off for the firm and environment in the short run are known as__________ activities, where as activities that pay off in the longer run are known as __________ activities.

greening; beyond greening

__________ requires that the company continually seek real product and marketing improvements

Innovative Marketing

Sense-of-mission marketing means that the company should define its mission in broad __________ terms rather than narrow product terms

Social

By practicing __________, enlightened marketers build long-run consumer engagement, loyalty, and relationships

customer value marketing

Following the principle of __________, a company makes marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests.

societal marketing

According to societal marketing principles, breakfast foods that taste good and are also nutritious would be classified as __________ products.

desirable

According to societal marketing principles, bicycle helmets would be classified as a __________ product.

salutary

Because not all managers have fine moral sensitivity, companies should __________.

develop corporate marketing ethics policies

According to the text, the issue of ethics presents special challenges for __________.

international marketers

The American Marketing Association (AMA) developed a code of ethics for marketers based on three principles. These three principles are __________.

do no harm, embrace ethical values, and foster trust in the marketing system

How do sustainable companies create value for customers?

Through socially, environmentally, and ethically responsible actions

Share This
Flashcard

More flashcards like this

NCLEX 10000 Integumentary Disorders

When assessing a client with partial-thickness burns over 60% of the body, which finding should the nurse report immediately? a) ...

Read more

NCLEX 300-NEURO

A client with amyotrophic lateral sclerosis (ALS) tells the nurse, "Sometimes I feel so frustrated. I can’t do anything without ...

Read more

NASM Flashcards

Which of the following is the process of getting oxygen from the environment to the tissues of the body? Diffusion ...

Read more

Unfinished tasks keep piling up?

Let us complete them for you. Quickly and professionally.

Check Price

Successful message
sending