Question 1

A __________ is a marketing intermediary that sells to ultimate consumers.

Accepted Answer

retailer

Question 2

Those organizations that assist in the movement of goods and services from producer to industrial and consumer users are known as:

Accepted Answer

marketing intermediaries

Question 3

Sharp Focus Cameras is facing intense competitive pressure. Top marketing managers are looking for ways to cut costs. They are considering a plan to cut distribution costs by eliminating marketing intermediaries from the channel of distribution. If Sharp Focus carries out this plan, it is likely to find that:

Accepted Answer

it will be unable to perform the functions as efficiently as they were performed by the marketing intermediaries.

Question 4

One way a store selling high-def televisions might add ________ utility is to provide convenient delivery and set up to customers.

Accepted Answer

possession

Question 5

When marketing intermediaries perform the steps necessary to transfer ownership from one party to another, they are providing _________ utility.

Accepted Answer

possession

Question 6

Marketing intermediaries can provide _________ utility by offering customers affordable credit, free delivery, and product guarantees.

Accepted Answer

possession

Question 7

Stores that remain open 24 hours a day, seven days a week are providing _________ utility to their customers.

Accepted Answer

time

Question 8

____________ wholesalers are independently owned and take title to the goods they handle.

Accepted Answer

merchant

Question 9

Limited-function wholesalers that mainly serve small businesses by selling them a limited assortment of goods are known as:

Accepted Answer

cash-and-carry wholesalers.

Question 10

Which of the following activities would a drop shipper be most likely to perform?

Accepted Answer

solicit orders from a retailer and arrange for the producer to make the deliveries

Question 11

Discount stores, supermarkets, and department stores are all common types of:

Accepted Answer

retail stores

Question 12

A(n) ______________ distribution strategy uses only one retail outlet in a given geographic area.

Accepted Answer

exclusive

Question 13

Producers of snack foods (such as candy bars or potato chips) are most likely to use a(n) _____________ distribution strategy for their products.

Accepted Answer

intensive

Question 14

Vending machines are most often used to sell:

Accepted Answer

convenience goods

Question 15

In a(n) ____________ distribution system all of the organizations in the channel of distribution are owned by one firm.

Accepted Answer

corporate

Question 16

Franchise systems are one type of __________ distribution system.

Accepted Answer

contractual

Question 17

Millie Woods owns and operates a World of Food grocery store. Although her store is independently owned and operated, she has signed an agreement with over seventy stores in the Midwest to use a common name, participate in chain promotions, and cooperate with other stores in the chain. Millie\'s store is part of a(n):

Accepted Answer

wholesaler-sponsored chain.

Question 18

A _________ is a marketing intermediary that sells products to other organizations.

Accepted Answer

wholesaler

Question 19

Which of the following statements about marketing intermediaries is true?

Accepted Answer

marketing intermediaries survive because they can perform marketing functions faster and more cheaply than producers and consumers.

Question 20

The primary difference between retailers and wholesalers is that:

Accepted Answer

retailers sell to final consumers, while wholesalers sell to other organizations, such as retailers or manufacturers.

Question 21

_________ utility adds value to goods by having them available where people want them.

Accepted Answer

Place

Question 22

The types of utility commonly provided by marketing intermediaries include:

Accepted Answer

time, place, possession, information, and service.

Question 23

E-Gadgets is a chain of electronics stores that specializes in devices and gadgets incorporating cutting-edge technologies. The company has more than 170 stores located in large cities throughout the Southeast and Midwest. E-Gadgets has chosen the locations of its stores so that most customers living in upper middle class and wealthy neighborhoods can get to an E-Gadgets store in less than 15 minutes. E-Gadgets is providing its customers with:

Accepted Answer

place utility.

Question 24

Hottaire Heating and Cooling offers customers who buy air conditioners and furnaces free delivery and low installation charges. The company also offers a free follow-up inspection of the new equipment one month after it is installed. These services are ways that Hottaire provides its customers with __________ utility.

Accepted Answer

possession

Question 25

___________ are limited-function wholesalers who furnish shelves full of merchandise to retailers who sell these items on consignment.

Accepted Answer

rack jobbers

Question 26

___________ are merchant wholesalers who perform all of the distribution functions.

Accepted Answer

full-service wholesalers

Question 27

Which of the following statements provides the most accurate distinction between an agent and a broker? Agents:

Accepted Answer

develop a long-term relationship with the people they represent, while brokers are usually hired on a temporary basis.

Question 28

A __________ offers a huge selection of one type of product (such as books, toys, or sporting goods) to dominate that category of goods.

Accepted Answer

category killer store

Question 29

___________ is the sale of goods and services by telephone.

Accepted Answer

Telemarketing

Question 30

Companies who send salespeople to customers\' homes or places of work are making use of __________ selling.

Accepted Answer

direct

Question 31

Sports Coasters sells good quality athletic wear by sending its customers a catalog nine times a year. The company has no retail stores, but offers a toll free order number that operates 24 hours a day, 365 days a year. Sports Coasters sells using a technique known as:

Accepted Answer

telemarketing

Question 32

In a(n) ___________, independently owned and managed stores sign an agreement to use the same name, participate in chain promotions, and cooperate as a unified system.

Accepted Answer

wholesaler-sponsored chain

Question 33

McDonald\'s, KFC, Baskin-Robbins, and AAMCO all make use of the __________ form of contractual distribution system.

Accepted Answer

franchise

Question 34

Which of the following activities is most likely to be performed by someone responsible for supply chain management?

Accepted Answer

finding ways to handle the return of goods and recycled materials

Question 35

Which of the following would be included in evaluating the total product offer of benefits that consumers consider when buying a good or service?

Accepted Answer

store atmosphere

Question 36

The Coca Cola Company produces Diet Coke, Diet Coke with Splenda, and Coke Zero along with a number of other flavors. These products are part of Coke\'s:

Accepted Answer

product line.

Question 37

The purpose of __________ is to create real or perceived product differences.

Accepted Answer

product differentiation

Question 38

For small businesses, product differentiation:

Accepted Answer

can be an important strategy to gain market share.

Question 39

Soprano Manufacturing acquired several pieces of expensive heavy machinery it intends to use in its operations. As an industrial good, this heavy machinery represents:

Accepted Answer

an installation.

Question 40

From the buyer\'s perspective, which of the following is a benefit of a product with a well known brand name?

Accepted Answer

quality assurance

Question 41

Certain brand names, such as Kleenex and Xerox, fear they could become _________, because they are so commonly identified with a specific product category that consumers use these names to refer to any product in that category regardless of the manufacturer.

Accepted Answer

generic names

Question 42

The use of the Folgers\'s ________ allows customers to easily identify this product from other coffee products.

Accepted Answer

brand name

Question 43

Which of the following is considered a stage of the new-product development process?

Accepted Answer

commercialization

Question 44

___________ is the stage of new product development that involves promoting a product to distributors, and developing advertising and sales campaigns in order to generate and maintain consumer interest.

Accepted Answer

commercialization

Question 45

The product life cycle model helps marketers realize that:

Accepted Answer

different stages in the life cycle call for different marketing strategies.

Question 46

Which stage of the product life cycle is characterized by rapidly rising sales, very high profit levels, and a growing number of competitors?

Accepted Answer

growth

Question 47

During the ________ stage of the product life cycle sales reach a peak, profits are declining, and the number of competitors starts to decrease.

Accepted Answer

maturity

Question 48

The rent a firm pays each month for office space is an example of a(n):

Accepted Answer

fixed cost.

Question 49

_________ uses price points to establish prices that help create the impression that the product is less expensive than it is.

Accepted Answer

psychological pricing

Question 50

Which of the following strategies establishes a price based on the actions of rival firms?

Accepted Answer

competition-based pricing

Question 51

Which of the following statements is most consistent with today\'s views on effective marketing?

Accepted Answer

\"Learn about your customers and exceed their expectations.\"

Question 52

Comparing the business practices of the 1950s to those of today indicate that today\'s marketing managers:

Accepted Answer

have a more ambitious goal of not just satisfying customers, but of exceeding their expectations

Question 53

_______________ consists of all the techniques sellers use to persuade consumers to buy their goods and services.

Accepted Answer

promotion

Question 54

Which of the following would be considered part of a firm\'s marketing mix?

Accepted Answer

determining the best pricing strategy for a product

Question 55

A ___________ group consists of a small group of people who meet under the direction of a discussion leader to discuss opinions about an organization, its products, or other issues.

Accepted Answer

focus

Question 56

The first step in the marketing research process is to:

Accepted Answer

define the problem and determine the present situation

Question 57

Which of the following terms involves the analysis of markets to identify opportunities and challenges?

Accepted Answer

marketing research

Question 58

______________ is the process of identifying factors that can affect marketing success.

Accepted Answer

environmental scanning

Question 59

The most dramatic global change likely to affect the marketing success of most firms is the:

Accepted Answer

widespread growth of the Internet

Question 60

One of the social trends that marketers must monitor to maintain their close relationship with customers is the:

Accepted Answer

increase in the number of older Americans

Question 61

A ____________ marketing strategy develops products and promotions designed to please large groups of people.

Accepted Answer

mass

Question 62

Which of the following refers to the process of dividing the total market into several groups with similar characteristics?

Accepted Answer

market segmentation

Question 63

Firms that adopt a relationship marketing strategy attempt to:

Accepted Answer

develop products that meet the specific requirements of individual customers.

Question 64

Nature\'s Sun, a company that designs and manufactures clothing for active people, focuses their marketing efforts on people who participate in strenuous outdoor activities such as running and mountain climbing. For example, the firm advertises heavily in magazines for runners. Nature\'s Sun is using _____________ factors to segment its market.

Accepted Answer

psychographic

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