Exam study questions Marketing and Introduction – Flashcards
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Which of the following is true with regard to kiosk marketing?
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It can be used to provide customized product recommendations.
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Which of the following is an example of a firm utilizing public relations as a promotion tool?
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A firm providing interesting information about a product to the news media
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According to the text,the most logical budget-setting method is advertising in the _____ method.
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objective-and-task
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The primary objective of ____ advertising is to build selective demand.
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Persuasive
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What is the primary goal of trade promotions?
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Persuading resellers to carry a brand.
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The presentation stage of the selling process most likely involves _____.
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Showing how a company's products can solve a customer's problems
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____ are the standards stating the amount salespersons should sell and how sales should be divided among the company's products.
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Sales quotas
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In which of the following structures does a company organize its sales force along client or industry lines?
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market sales-force structure
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Which of the following is a disadvantage of using social media for marketing?
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They are largely user controlled.
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Which aspect of niche online social networks makes the medium most appealing to marketers?
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They cater to the needs of small communities of like-minded people.
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Which of the following statements is true of industrial economies?
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They export their goods to other types of economies for raw materials.
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A______ is made up of a company, its suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system.
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value delivery network
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Producers use marketing intermediaries because they
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create greater efficiency in making goods available to target markets
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From the economic system's point of view, the role of marketing intermediaries is to ______.
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Transform the assortments of producers into the assortments wanted by consumers
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Which of the following is an example of a horizontal conflict in a distribution channel?
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A Ford car dealer complaining that another Ford dealer is underpricing the same models
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Which of the following is true of a vertical marketing system?
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It has one channel member owning all the other channel members or has contracts with all other channel members
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Specialty stores are characterized by____.
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Narrow product lines with deep assortments
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An emerging economy is one which_____.
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has a rapid growth in manufacturing
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Which of the following is true of exporting?
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It involves the least change in company product lines
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_____is a method of entering a foreign market by developing foreign-based assembly or manufacturing facilities.
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Direct investment
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_____ is the process of evaluating the attractiveness of different market segments and selecting one or more segments to enter.
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Market targeting
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_____ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
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Positioning
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A brand difference is said to be preemptive if ______.
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Competitors cannot easily copy the difference
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Which statement about convenience products is most likely true.
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They are bought by consumers frequently and with minimal comparison
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Which of the following is most likely a true statement about services?
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A service is intangible, before it is purchased.
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Which of the following sets the upper limit for a product's pricing?
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Consumer perceptions of value
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____pricing involves setting prices based on the expenses involved in producing, distributing, and selling a product plus a fair rate of return for a company's effort and risk
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Cost-based
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Which of the following is an external factor that affects pricing decisions?
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Competitition
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Under____, the market consists of many buyers and sellers trading over a range of prices rather than a single market price.
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Monopolistic competition
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Which group is most likely offered functional discounts by manufacturers?
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trade-channel members that perform sales tasks
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Which of the following is most essential to any definition of marketing?
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Customer relationships
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____ are human needs as shaped by individual personality and culture.
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Wants
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When backed by buying power, wants become_____.
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Demands
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_____ is the set of actual and potential buyers of a product.
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A market
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Selecting which segments of a population of customers to serve is called_______.
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Target marketing
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____ is a set of benefits a company promises to deliver to to its consumers to satisfy their needs.
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A value proposition
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The collection of businesses and products that make up a company is called its______.
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business portfolio
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Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.
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The marketing environment
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the most common research instrument used is the
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questionnaire
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Which of the following is determined by a customer's personal evaluation of the benefits and costs of a market offering relative to those of competing offers?
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Customer-perceived value
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Stew Leonard, owner/operator of supermarkets, reacts adversely to losing a single customer sale. He feels that this amount so losing the entire stream of future purchases that a customer is likely to make if he or she remains in the area. This is an illustration of ______.
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Customer lifetime value
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_____ if the task of developing and maintaining an overall company strategy for long-run survival and growth.
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Strategic Planning
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Disney is identifying and developing new markets for its theme parks. Disney is exploring possibilities for______.
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Market Development
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Which of the following is NOT a type of factor in a company's macroenvironment?
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competitor
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The most important demographic trend in the United States is the ________.
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changing age structure of the population
