Exam #2 – 587 words – Flashcard
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Asking the firm's salespeople to estimate sales during a coming period is referred to as
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a salesforce survey forecast.
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Boeing has only a few hundred customers worldwide for its large airplanes, so it can contact these customers and conduct __________, which is an effective method to develop its sales forecasts and production schedules.
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a survey of buyers' intentions
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In marketing experiments, the dependent variable is the __________ and the independent variable is the __________.
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result of an action; cause of an action
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researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.
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An advantage of using a panel for marketing research is
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Representatives from Kraft spent several months with consumers in their kitchens, attempting to understand what they wanted in ready-to-serve meals prior to the launch of Kraft Deli Creations. The observational approach Kraft used is called __________ research.
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ethnographic
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When a marketing researcher uses a collection of reports, customer letters, financial statements, and surveys from different departments within her firm, she is using
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internal secondary data
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In a marketing decision, __________ are likely to be restrictions on the time and money available to solve the problem.
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constraints
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Measures of success are
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the criteria or standards used in evaluating proposed solutions to a problem.
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In marketing research, the research objectives are the __________ goals of the decision maker.
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specific and measurable
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When following the five-step marketing research approach, developing the research plan is the __________ step
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second
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Market segmentation involves aggregating prospective buyers into groups that have common needs and will
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respond similarly to a marketing action
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Sensodyne ProNamel toothpaste is formulated to re-harden acid softened tooth enamel to increase protection for users' teeth, and this attribute sets it apart from competitors. Sensodyne's advertising promotes this product benefit and is an example of
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product differentiation
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Which of the following is an example of a single product with multiple market segments?
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Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.
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__________ is the third step in the five step process of segmenting and targeting markets.
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Developing a market-product grid
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Though the percentages are not always the same, a general rule in business says that the large majority of a firm's revenues come from what percent of its customers?
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20%
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U.S. organizational markets use three main segmentation bases, which are
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demographic, geographic, and behavioral.
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An important part of creating a market-product grid is to
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estimate the size of the markets
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Which of the following is a criterion used to select a target market segment?
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expected growth of a segment
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Two major types of product positioning are
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head-to-head; differentiation
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Which type of product positioning would be used to compete directly with competitors on similar product attributes in the same target market?
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head-to-head positioning
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Which type of product positioning would be needed for two or more brands from the same company in order to minimize cannibalization?
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differentiation positioning
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A key to positioning a product or brand effectively is to discover the perceptions in the minds of potential customers. This involves taking four steps, one of which includes
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discovering where the company's product or brand is on the relevant attributes in the minds of potential customers.
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A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a __________.
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perceptual map
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Among consumer products, personal selling is especially important for
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costly durable goods.
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Services are
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intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
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Consumer products are classified based on the: (1) attributes used in making the purchase decision; (2) frequency of purchase; and (3)
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effort the consumer spends on the decision
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Inexpensive products with widespread availability are considered to be
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convenience products.
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As consumers demand for Ford cars increases, Ford may increase its demand for paint spraying equipment, which in an example of __________ for the latter.
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derived demand
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A student who is inadequately helped by someone in career services and whose phone calls to the librarian remain unanswered may start to have a negative perception of her school, despite the fact that she has learned a lot in her classes. This is a function of the __________ aspect of services.
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inseparability
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Which of the following products at the time of their introduction was the best example of a continuous innovation?
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Blu-Ray player
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There are eight marketing reasons why a new product can fail. One of these is __________
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having an insignificant point of difference
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Which stage in the new-product process results in the definition of the new product protocol and identifies the role it might serve in the firm's business portfolio
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new-product strategy development
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During the introduction stage of the product life cycle, the place element of the marketing mix is highly involved with
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convincing channel intermediaries to carry the product
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Domino's ran an advertisement saying that in a taste test its oven-baked sandwiches beat Subway 2-to-1. With this ad, Domino's was attempting to stimulate __________ demand.
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Selective
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Profit margins often peak as competitors enter the market, and aggressive pricing strategies take hold. This happens during which stage of the product life cycle?
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Growth
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Harvesting is an option for a product in the __________ stage of its product life cycle.
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Decline
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__________ begins with new-product purchases first by innovators, and then by early adopters.
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Diffusion of innovation
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The Florida Orange Growers Association advocates drinking orange juice throughout the day rather than for breakfast only. It is primarily using which of the following market modification strategies?
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increasing use by existing customers
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Which of the following triggers a product repositioning action?
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reacting to a competitor
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Quaker Oats makes the FDA-approved claim that oatmeal, as part of a low-saturated-fat, low-cholesterol diet, may reduce the risk of heart disease. It is primarily using which of the following product repositioning strategies for this product?
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catching a rising trend
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When selecting a brand name, it should: (1) suggest product features; (2) be memorable, distinctive and positive; (3) fit the company or product image; (4) have no legal or regulatory restrictions; and (5) __________.
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be simple and emotional
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charging different prices during different times of the day or during different days of the week to reflect variations in demand for the service.
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Off-peak pricing refers to
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A channel intermediary that acts on behalf of the seller but does not take title to products is called a(n)
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agent or broker.
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Contacting potential customers, promoting products, and seeking orders would be an example of a(n) __________ function that intermediaries perform.
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transactional
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Having a Chevron gas station located on a long stretch of lonely highway is an example of __________ utility.
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place
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Adding a wholesaler to the marketing channel for consumer products is most common for
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low-cost, low unit value items
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Which of the following statements regarding electronic marketing channels is most accurate?
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Electronic marketing channels employ the Internet to make products and services available for consumption or use by consumers or business buyers.
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Most of Lands' End's revenues come through catalog and Internet sales, but it also operates over a dozen retail stores and factory outlets. This makes Lands' End an example of a(n) __________ marketer.
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multichannel
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The channel strategy demonstrated when Hallmark sells its Hallmark brand greeting cards through Hallmark stores and select department stores and its Ambassador brand of cards through discount and drugstore chains is referred to as __________.
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dual distribution
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Meyers, Inc. is an American company that manufactures and distributes coffee products in the U.S. Because of the popularity of its products, Meyers Inc. wants to enter new global markets. As a result, the firm decided to develop an international distribution network as soon as possible. The most efficient distribution arrangement in terms of cost and time for Meyers, Inc. would be to use __________.
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a strategic channel alliance
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The purpose of a vertical marketing system is to
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achieve channel economies and maximum marketing impact.
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Kroger supermarkets operate manufacturing facilities that produce everything from aspirin to cottage cheese for sale under the Kroger label. This example shows that Kroger uses
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backward integration
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Which of the following is the most popular type of vertical marketing system?
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contractual vertical marketing systems
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A wholesaler-sponsored voluntary chain refers to
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a contractual relationship between a wholesaler and small independent retailers to standardize and coordinate buying, merchandising, and inventory management efforts.
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Marketing executives typically consider three questions when choosing a marketing channel and intermediaries. These include: (1) which channel and intermediaries will provide the best coverage of the target market, (2) which channel and intermediaries will best satisfy the buying requirements of the target market, and (3) which channel and intermediaries will be the
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most profitable
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Customers currently link to Cisco's website to configure, price, and order its networking equipment. Cisco then sends orders back out across the Internet to producers and assemblers including Celestica, Flextronics, and Solectron. Products are built and tested to Cisco standards, sometimes with procedures run remotely by Cisco. Most are then drop-shipped to buyers, untouched by human hands on Cisco's payroll. The individuals who monitor these transactions and make sure each is performed in a cost-effective and timely fashion are engaged in __________.
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supply chain management
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Which statement regarding responsive supply chains is most accurate?
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Responsive supply chains use common platforms and common components across several products
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Suppose a large retail chain is considering increasing the number of distribution centers that serve its retail stores from 6 to 20. If the number of suppliers, retail outlets, and customers remain unchanged, which of the following statements accurately describes what will happen as a result of this expansion?
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total inventory in the warehouse system will increase.
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The ability of a logistics system to satisfy users in terms of time, dependability, communications, and convenience is referred to as __________.
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customer service
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Which of the following customer-service components is likely to be most critical for Honda when it purchases windshield wiper blades as a component for automobiles it manufactures?
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dependability and on-time delivery
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Quick response systems refer to
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inventory management systems that are designed to reduce a retailer's lead time for receiving merchandise, which then lowers its inventory investment, improves its customer service levels, and reduce its total logistics expense.
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Total logistic cost factors in a supply chain include transportation, order processing, stockout, inventory, returns, and __________.
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warehousing and materials handling
