Exam #2 – 587 words – Flashcard

Unlock all answers in this set

Unlock answers
question
Asking the firm's salespeople to estimate sales during a coming period is referred to as
answer
a salesforce survey forecast.
question
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.
answer
a survey of buyers' intentions
question
In marketing experiments, the dependent variable is the __________ and the independent variable is the __________.
answer
result of an action; cause of an action
question
researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.
answer
An advantage of using a panel for marketing research is
question
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.
answer
ethnographic
question
When a marketing researcher uses a collection of reports, customer letters, financial statements, and surveys from different departments within her firm, she is using
answer
internal secondary data
question
In a marketing decision, __________ are likely to be restrictions on the time and money available to solve the problem.
answer
constraints
question
Measures of success are
answer
the criteria or standards used in evaluating proposed solutions to a problem.
question
In marketing research, the research objectives are the __________ goals of the decision maker.
answer
specific and measurable
question
When following the five-step marketing research approach, developing the research plan is the __________ step
answer
second
question
Market segmentation involves aggregating prospective buyers into groups that have common needs and will
answer
respond similarly to a marketing action
question
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
answer
product differentiation
question
Which of the following is an example of a single product with multiple market segments?
answer
Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.
question
__________ is the third step in the five step process of segmenting and targeting markets.
answer
Developing a market-product grid
question
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?
answer
20%
question
U.S. organizational markets use three main segmentation bases, which are
answer
demographic, geographic, and behavioral.
question
An important part of creating a market-product grid is to
answer
estimate the size of the markets
question
Which of the following is a criterion used to select a target market segment?
answer
expected growth of a segment
question
Two major types of product positioning are
answer
head-to-head; differentiation
question
Which type of product positioning would be used to compete directly with competitors on similar product attributes in the same target market?
answer
head-to-head positioning
question
Which type of product positioning would be needed for two or more brands from the same company in order to minimize cannibalization?
answer
differentiation positioning
question
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
answer
discovering where the company's product or brand is on the relevant attributes in the minds of potential customers.
question
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 __________.
answer
perceptual map
question
Among consumer products, personal selling is especially important for
answer
costly durable goods.
question
Services are
answer
intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
question
Consumer products are classified based on the: (1) attributes used in making the purchase decision; (2) frequency of purchase; and (3)
answer
effort the consumer spends on the decision
question
Inexpensive products with widespread availability are considered to be
answer
convenience products.
question
As consumers demand for Ford cars increases, Ford may increase its demand for paint spraying equipment, which in an example of __________ for the latter.
answer
derived demand
question
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.
answer
inseparability
question
Which of the following products at the time of their introduction was the best example of a continuous innovation?
answer
Blu-Ray player
question
There are eight marketing reasons why a new product can fail. One of these is __________
answer
having an insignificant point of difference
question
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
answer
new-product strategy development
question
During the introduction stage of the product life cycle, the place element of the marketing mix is highly involved with
answer
convincing channel intermediaries to carry the product
question
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.
answer
Selective
question
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?
answer
Growth
question
Harvesting is an option for a product in the __________ stage of its product life cycle.
answer
Decline
question
__________ begins with new-product purchases first by innovators, and then by early adopters.
answer
Diffusion of innovation
question
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?
answer
increasing use by existing customers
question
Which of the following triggers a product repositioning action?
answer
reacting to a competitor
question
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?
answer
catching a rising trend
question
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) __________.
answer
be simple and emotional
question
charging different prices during different times of the day or during different days of the week to reflect variations in demand for the service.
answer
Off-peak pricing refers to
question
A channel intermediary that acts on behalf of the seller but does not take title to products is called a(n)
answer
agent or broker.
question
Contacting potential customers, promoting products, and seeking orders would be an example of a(n) __________ function that intermediaries perform.
answer
transactional
question
Having a Chevron gas station located on a long stretch of lonely highway is an example of __________ utility.
answer
place
question
Adding a wholesaler to the marketing channel for consumer products is most common for
answer
low-cost, low unit value items
question
Which of the following statements regarding electronic marketing channels is most accurate?
answer
Electronic marketing channels employ the Internet to make products and services available for consumption or use by consumers or business buyers.
question
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.
answer
multichannel
question
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 __________.
answer
dual distribution
question
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 __________.
answer
a strategic channel alliance
question
The purpose of a vertical marketing system is to
answer
achieve channel economies and maximum marketing impact.
question
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
answer
backward integration
question
Which of the following is the most popular type of vertical marketing system?
answer
contractual vertical marketing systems
question
A wholesaler-sponsored voluntary chain refers to
answer
a contractual relationship between a wholesaler and small independent retailers to standardize and coordinate buying, merchandising, and inventory management efforts.
question
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
answer
most profitable
question
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 __________.
answer
supply chain management
question
Which statement regarding responsive supply chains is most accurate?
answer
Responsive supply chains use common platforms and common components across several products
question
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?
answer
total inventory in the warehouse system will increase.
question
The ability of a logistics system to satisfy users in terms of time, dependability, communications, and convenience is referred to as __________.
answer
customer service
question
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?
answer
dependability and on-time delivery
question
Quick response systems refer to
answer
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.
question
Total logistic cost factors in a supply chain include transportation, order processing, stockout, inventory, returns, and __________.
answer
warehousing and materials handling
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New