question

Marketing is an activity, set of institutions and processes for creating, communication, delivering and exchanging offerings that have ________ for customers, clients, partners and society at large.

answer

value

question

Human ______ are states of felt deprivation

answer

needs

question

Human needs take the form of ______ as they are shaped by culture and individual personality

answer

wants

question

________ are human wants backed by buying power

answer

Demands

question

A market offering is a __________ that is some combination of goods, services and experiences that can be offered to a market to satisfy a need or a want

answer

product

question

Customer-perceived ______ is the difference between the values the customer gains from owning and using a product and the costs of obtaining the product

answer

value

question

If a product's performance falls short of the customer's expectations, the buy will be _____

answer

dissatisfied

question

If exchange is the core concept of marketing, then a _____ is a marketing's unit of measurement

answer

transaction

question

A ______ is the set of all actual and potential buys of a product

answer

market

question

The aim of _______ is not to completely destroy demand, but only to reduce or shift it to another time, or even another product

answer

demarketing

question

The key to creating excitement in a market offering, such as sport, is _______ and interactivity

answer

involvement

question

A marketing organisation's _________ proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs

answer

value

question

The _______ concept holds that consumers will favor products that are available and highly affordable

answer

production

question

The ______ concept holds that consumers will favor products that offer the most quality, performance and innovative features

answer

product

question

The _____ concept holds that achieving organisational goals depends on determining the needs and wants of target markets and delivering the desired satisfaction more effective and efficiently than competitors

answer

marketing

question

The _____ concept holds that consumers won't buy enough of the organisation's products unless it undertakes a large-scale selling effort as part of its promotional program

answer

selling

question

The _____ marketing concept questions whether the pure marketing concept is adequate in the age of environmental problems, resource shortages, rapid population growth, worldwide economic problems and neglected social services

answer

societal

question

Customer _____ depends on the product's perceived performance relative to a buyer's expectations

answer

satisfaction

question

One of the challenges facing marketers as we move into the future is market is changing customer ______ and orientations

answer

values

question

The ________ program presents the special marketing programs designed to achieve the business objectives

answer

action

question

______ indicate how the marketing plan will be monitored

answer

Controls

question

Marketing _____ is the process that turns marketing strategies into marketing actions in order to accomplish strategic marketing objectives

answer

implementation

question

When an organisation has specialists heading different activities, such as a sales manager, an advertising manager, etc, is is said to be a ______ organization

answer

functional

question

_______ organisation allows salespeople to settle into a territory, get to know their customers and work with a minimum of travel time and cost

answer

Geographic

question

Marketing _____ is the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that marketing objectives are attained

answer

control

question

A ______ can be a company division, a product line within a division or a single product or brand

answer

SBU

question

A _______ plan has its focus on customer acquisition and retention and on the resources required to do this effectively

answer

marketing

question

______ records can usually be obtained more quickly and cheaply than other information sources

answer

Internal

question

Marketing _______ is the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment

answer

intelligence

question

Marketing ____ is the function that links consumers, customer and public to the marketer through information that is used to identify and define marketing opportunities and problems

answer

research

question

Studies involving a small number of individuals, such as focus groups or in-depth one-on-one interviews, are known as _______ research

answer

qualitative

question

Studies involving a lot of people and utilising statistical tools and techniques are known as _____ research

answer

quantitative

question

_______ research is used to gather preliminary informations that will help to define problems better and suggest hypotheses

answer

Exploratory

question

______ research is used to test hypotheses about cause-and-effect relationships

answer

Causal

question

Data that consists of information that already exists somewhere and was collected for an alternate purpose is known as ________ data

answer

secondary

question

Data that consists of information collected for the specific purpose at hand is known as ______ data

answer

primary

question

Observational research involves the gathering of ______ data by observing relevant people, actions, and situations

answer

primary

question

______ research involves the gathering of primary data by asking people questions about their knowledge, attitudes, preferences and buying behavior

answer

Survey

question

______ research involves the gathering of primary data by selecting matched groups of subjects, giving them different treatments, controlling unrelated factors and checking for differences in group response

answer

Experimental

question

_______ interviewing is the best contact method for gathering information quickly and provides greater flexibility than mail questionnaires

answer

Telephone

question

When considering interview contact methods, ______ interviewing has the lowest level of control of interviewer effects

answer

personal

question

A ______ is a segment of the population selected for marketing research to represent the population as a whole

answer

sample

question

A ______ sample is one where every member of the population has a known and equal chance of selection

answer

probability

question

A _____ sample is one where the researcher selects the research participants from a population without giving them equal chance of selections

answer

non-probability

question

An individual's consumer behavior is influence by ______, personal, cultural and social influences

answer

psychological

question

Roles people may play in the consumer buying process include initiator, influencer, ______, buyer, and user

answer

decider

question

_______ buying behavior occurs in situations characterized by high consumer involvement and where there are significant perceived differences among brands

answer

Complex

question

Need recognition by itself is not enough to trigger an action by a consumer - ______ is needed to drive the consumer into action

answer

motivation

question

The greater the perceived relative advantage of a new product, the sooner it will be _______

answer

adopted

question

Consumers undertake routine buyer behavior in situations characterized by _____ consumer involvement but significant perceived brand differences

answer

low

question

When considering the roles player by individuals in the consumer buying process, an ______ is a person whose views or advice carry some weight in making the final buying decision

answer

influencer

question

Information search is the _____ step in the buyer decision process

answer

second

question

The process by which people select, organize, and interpret information to form a meaningful picture of the world is known as _____

answer

perception

question

The tri-component attitude model suggest that three main components are involved - cognitive, affective and ______

answer

conative

question

An individual's _____ is their pattern of living as expressed in their activities, interest and opinions

answer

lifestyle

question

The first stage of the adoption process for new products is _____, where the consumer becomes aware of the new product, but lacks information about it

answer

awareness

question

The ________ market comprises of all the organizations that buy goods and services to use in the production of other products and services for the purpose of reselling or renting them to others at a profit

answer

business

question

The business marketer normally deals with far _____ buyers than consumer market

answer

fewer

question

The demand for business goods is ultimately _____ from the demand for consumer goods

answer

derived

question

An industrial buying situation in which the buyer wants to modify product specifications, prices, terms or situations is known as a _____ rebuy

answer

modified

question

Many business buyers prefer to buy a packaged solution to a problem from a single seller, which is called ______ buying

answer

systems

question

A buying _____ includes all the individuals and units that participate in the organisational buying decision process

answer

centre

question

The person in the organization's buying centre who controls the flow of information is known as the ______

answer

gatekeeper

question

Proposal ______ is the stage of the industrial buying process in which the buyer invites qualifies suppliers to submit proposals

answer

solicitation

question

Schools, TAFE colleges, universities, hospitals and prisons are all examples of _____ markets

answer

institutional

question

When demand is _____, this indicates that demand is not affected greatly by price changes

answer

inelastic

question

When discussing business markets, included are the industrial market, _______ market as well as the institutional and government markets

answer

reseller

question

Market _____ is the process of classifying customers into groups with different needs, characteristics or behavior

answer

segmentation

question

Market ______ is the process of evaluating each market segment's attractiveness and selecting one or more of the market segments to enter

answer

targeting

question

Market ______ is the process of arranging for a product to occupy a clear, distinctive and desirable place relative to the competing products in the minds of target consumers

answer

positioning

question

_______ segmentation divides a market into units such as nations, regions, states, municipalities, cities or neighborhood

answer

Geographic

question

______ segmentation divides a market into groups based on variables such as education, religion and nationality

answer

Demographic

question

_______ segmentation divides a market into groups based on social class, lifestyle or personality characteristics

answer

Psychographic

question

________ segmentation divides a market into groups according to occasions when buyers get the idea to buy, make a purchase or use a product

answer

behavioral

question

To be useful, market segments must be measurable, accessible, ______ and actionable

answer

substantial

question

A _____ market is a set of buyers with common needs or characteristics that a company decides to serve

answer

target

question

In ______ marketing, an organisation ignores market segment differences and creates a single offer for the whole market

answer

undifferentiated

question

In _____ marketing, an organisation designs separate offers for each of the identified target markets

answer

differentiated

question

In _____ marketing, an organisation goes after a large share of one or a few submarkets

answer

concentrated

question

Product position is the way a product is defined by ______ on important attributes

answer

consumers

question

A marketing organisation or market offer can be differentiated along lines of product, services, _______, and image

answer

personnel

question

______ differentiation can be created through features, performance, consistency, durability and reliability

answer

Product

question

______ differentiation can be created through delivery, installation, repair and customer training

answer

Service

question

A brand's value proposition is the full mix of benefits upon which the brand is _____ and positioned

answer

differentiated

question

"More for more" positioning involves charging a higher ______ for higher costs or more benefits

answer

price

question

A combination of a product's parts, styling, features, brand name, packaging, and other attributes is known as the ______ product

answer

actual

question

______ items are industrial goods and services that enter the finished product partly, including installations and accessory equipment

answer

Capital

question

Factors distinguishing "almost pure" services from 'almost pure" goods include intangibility, the high involvement and personal nature of services, the variability of service encounters, _______ conversion, delivery and consumption, perishability, and the fact that specific service quality measures are employed

answer

synchronous

question

The factor of _____ indicates that services lack a physical element

answer

intangibility

question

The factor of ______ delivery and consumption indicates that those involved in the service encounter need to interact in real time as the service is consumed

answer

synchronous

question

The factor of _______ indicates that when considering services, there is no stored inventory

answer

perishability

question

Product _____ reflects the ability of a product to perform its functions

answer

quality

question

A brand is a name, term, sign, ______ or design, or combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitiors

answer

symbol

question

A ______ brand is a brand created and owned by a reseller of a product or service

answer

private

question

A company can obtain new products in two ways: One is through ______ and the other is through the company's own R&D process

answer

acquisiont

question

New-product development starts with idea ______

answer

generation

question

Idea ______ is used to spot good ideas and drop poor ones

answer

screening

question

A product _____ is a detailed version of an idea stated in meaningful consumer terms

answer

concept

question

Business _______ involves the review of sales, costs, and profit projects to find out whether they satisfy the company's objectives

answer

analysis

question

If the product concept passes the business test, it moves into the product ______-

answer

development

question

______ marketing is the stage at which the product and marketing program are introduced into more realistic market settings

answer

Test

question

_______ occurs when a company introduces a new-product into the market

answer

Commercialisation

question

The course of a product's sales and profits during its lifetime is known as the ______ ______-______

answer

product life-cycle

question

During the product ______ stage of the product life-cycle, sales are zero and a company's investment costs add up

answer

development

question

During the ______ stage of the product life-cycle, profits are non-existent because of the heavy expenses incurred

answer

introduction

question

The _____ stage of the product life-cycle, is a period of rapid market acceptance and increasing profits

answer

growth

question

The _____ stage of the product life-cycle is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers

answer

maturity

question

A _____ is a basic and distinctive mode of expression which has a product life-cycle showing several periods of renewed interest

answer

style

question

A _____ is currently accepted or popular style in a given field and is characterized by product life-cycle showing slow growth, a period of popularity and then slow decline

answer

fashion

question

A _____ is a fashion that enters quickly and is adopted with great zeal and is characterized by a product life-cycle showing an early peak and quick decline

answer

fad

question

The introduction stage of the product life-cycle concept is characterized by low sales, high cost per customer, negative profits, innovators as customers and _____ competitors

answer

few

question

The growth stage of the product life-cycle concept is characterized by rapidly rising sales, average cost per customer, ____ profits, early adopters as customers and a growing number of competitors

answer

rising

question

The decline stage of the product life-cycle concept is characterized by declining sales, low cost per customer, declining profits, _______ as customers and a declining number of competitors

answer

laggards

question

Integrated marketing communication is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, _____ and compelling message about the organisation and its products

answer

consistent

question

Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor is known as _____

answer

advertising

question

_______ appeals relate to the audience's self interest as they show the product will produce the desired benefits

answer

Rational

question

______ appeals attempt to stir up either negative or positive emotions that can motivate purchase

answer

Emotional

question

______ appeals are directed to the audience's sense of what is right and proper

answer

moral

question

A promotion strategy where the producer promotes the product to wholesalers, the wholesalers promote to retailers, and the retailers promote to consumers is known as ______ strategy

answer

push

question

A promotion strategy that calls for spending a lot on advertising and consumer promotion to build up consumer demand is known as a ______ strategy

answer

pull

question

Sales promotion is a _____-term incentive to encourage purchase of a product or service

answer

short

question

_______ offers are goods offered free of charge or at a reduced price as an incentive to buy a product

answer

Premium

question

A ______ promotion is an incentive applied to the retail trade to stock more of a product or to provide increase merchandising space, usually during a consumer promotion

answer

trade

question

_____ selling is the interpersonal arm of the promotion mix, used particularly in complex selling situations such as business-to-business marketing

answer

personal

question

Salesforce management involves the analysis, planning, implementation and _______ of salesforce activities

answer

control

question

Salesforce management includes setting salesforce objectives, designing salesforce strategy, and recruiting, _______, training, compensating, supervising, and evaluation the firm's salespeople

answer

selecting

question

The steps that a salesperson follows in the selling process include prospecting and _______, pre-approach, approach, presentation and demonstration, handling objections, closing and follow-up

answer

qualifying

question

________ is the step in the selling process when the salesperson identifies qualified potential customers

answer

Prospecting

question

_______ is the step in the selling process when the salesperson meets and greets the buyer to get the relationship off to a good start

answer

Approach

question

_______ is the step in the selling process when the salesperson tells the product "story" to the buyer, showing how the product will make or save them money

answer

Presentation

question

_______ is the step in the selling process when the salesperson asks the customer for an order

answer

Closing

question

When considering personal selling, ________ are involved in two-way personal communication with customers with whom they build long-term relationships

answer

salespeople

question

At which level in the company should market-oriented strategic planning begin?

answer

corporate level

question

Keith Jones has been assigned to a team charged with the development of a clear company mission, supporting objectives, a sound business portfolio, and coordinated functional strategies. Keith is involved in:

answer

strategic planning

question

The type of planning that deals with a determination of the firm's future objectives, the major marketing strategies used to attain them, and the resources required is called:

answer

long-range planning

question

While each of the divisions which comprise General Motors‐Holden is an integral part of the firm, each has a separate mission and develops plans independently of other corporate divisions. Each division would qualify as a(n):

answer

SBU

question

Setting the goals for performance in terms of market share, return on investment, and pretax profits all fell under which section of the marketing plan?

answer

objectives and issues

question

The ________ section of the marketing plan is typically used to monitor the plan's progress and performance.

answer

controls

question

The most common form of marketing organisation in which different marketing activities are directed by such people as sales managers, advertising managers, marketing research managers and the like is the:

answer

functional organisation

question

The current marketing situation consists of an analysis of the:

answer

market, competitor, product, distribution, and macroenvironment situation

question

The microenvironment consist of the forces close to the organisation that affect its ability to serve its customers - the organisation, marketing channel firms, customer markets, __________ and publics.

answer

competitors

question

The macroenvironment consist of larger societal forces that affect the whole microenvironment - demographic, economic, __________, technological, political and cultural forces.

answer

natural

question

_________ are firms and individuals who provide the resources needed by the company and its competitors to produce goods and service.

answer

suppliers

question

Marketing service agencies are the __________ agencies that help the organisation to target and promote its products to the right markets.

answer

facilitating

question

__________ beliefs and values are passed on from parents to children and are reinforced by schools churches, business and government; __________ beliefs and values are more open to change than core beliefs.

answer

core, secondary

question

Which of the following is an example of a behavioural segmentation variable?

answer

user status

question

The iconic Australian spread Vegemite has used the slogan "Puts a rose in every cheek" for many years. Which of the following strategies does this slogan most likely support?

answer

undifferentiated marketing

question

Emma and Sarah operate an old‐time coffee shop straight out of the 1950s with thick chocolate shakes, poodle‐skirted waitresses, and a jukebox that contains 45 RPM records by such artists as the Drifters and the Platters. Emma and Sarah are using ________ to create image differentiation.

answer

atmosphere

question

Mentos is a brand of sweets that has marketed itself to appeal especially to a younger crowd that likes to take some risks. This is an example of ________ positioning.

answer

user

question

The final step in the development of a positioning strategy is to:

answer

communicate the position effectively to consumers

question

The Simms Corporation utilises lifestyle variables to segment its consumer markets. The firm is employing:

answer

psychographic variables

question

The Tasty Snacks Company has determined that consumers' taste preferences differ according to the region of the country in which they live. The firm has segmented its market on the basis of:

answer

geographics

question

Bells Bicycle Shop offers an extended warranty on the bicycles it sells; a free checkup after one month of use; and will assemble and deliver bicycles. In terms of the customer value hierarchy, the bicycle shop is offering a(n) ________ product.

answer

augmented

question

Products that are bought frequently, immediately, and with little deliberation like soda and chewing gum are called ________ goods; hard to find items (e.g., a collector's item such as an Elvis Presley memorabilia) is an example of a ________ good.

answer

convenience, specialty

question

The number of different product lines offered by a company is termed the product mix's:

answer

breadth

question

Product-line length

answer

is shaped by company objectives

question

If Wexner adds lower and higher quality desks to its product line, it will have engaged in a(n) ________ strategy.

answer

line modernization

question

If the product manager for one of the world's largest lingerie manufacturers found its Playtex bras were selling well and its Bali bras were selling slowly, the product manager might try line ________ to increase sales for the slower end of the product line.

answer

featuring

question

The most enduring meanings of a brand are its:

answer

values, benefits, attributes and personality

question

Brand equity:

answer

is closely related to the number of customers who are devoted to the brand

question

Branding a product results in a number of advantages, including:

answer

A) helping to segment the market. B) helping in the development of a corporate image. C) providing legal protection of unique product features. D) attracting a loyal and profitable set of customers.

question

Which of the following is the most expensive part of the new-product development process?

answer

commercialisation

question

Assessing new-product concepts with a group of target customers is known as:

answer

concept testing

question

A sales manager is currently involved in reviewing sales projections and cost estimates associated with several potential new products. The analysis would most accurately be described as:

answer

business analysis

question

A product that is a basic and distinctive mode of expression that has a product life-cycle showing several periods of renewed interest is known as a(n):

answer

style

question

A product that, according to the product life-cycle concept, grows slowly, remains popular for a while and then declines slowly is known as a(n):

answer

fashion

question

A product that, according to the product life-cycle concept, enters quickly, is adopted with great zeal, peaks early and declines very quickly is known as a(n):

answer

fad

question

A product that has been re-targeted for a new application or to a new user can be categorised as:

answer

repositioned

question

A common mistake in pricing is:

answer

setting prices independently of the rest of the marketing mix

question

You can buy attractive air room fresheners in many different shapes for a relatively low price, but when you go to buy the refills, the price is often much higher than you expected, but the container is worthless without the refill. This example describes ________ pricing.

answer

captive-product

question

Breakeven volume is equal to fixed cost divided by:

answer

price-VC

question

Trade-offs between cost areas such as transport versus production lot quantity costs

answer

logistics

question

Effective marketing logistics network management can

answer

A) provide cost advantages. B) provide delivery time advantages. C) lower prices to the final customer. D) improve profits for suppliers and manufacturers.

question

As the members of the marketing channel move merchandise from one level to the next, they typically perform _________

answer

risk taking

question

The set of firms and individuals that take title, or assist in transferring title, to a good or service as it moves from the producer to the final consumer or industrial user constitutes a:

answer

marketing channel

question

A channel of distribution with no intermediaries is called a(n):

answer

direct marketing channel

question

Dymock's online book store is likely to represent the consumer marketing channel

answer

Manufacturer to retailer to consumer

question

Disagreements among channel members regarding roles and goals generate

answer

channel conflict

question

Conflict between channel members at the same level of the channel is called

answer

horizontal conflict

question

In _________________, two or more unrelated companies at one channel level join together to pursue a new marketing opportunity.

answer

horizontal marketing

question

Channel members often seek control of a channel network to ________.

answer

A) ensure cooperation B) limit the negative effect of conflict C) achieve objectives D) ensure consistency of service throughout the channel

question

Use of mail, telephone, and other non-personal contact tools to communicate with, or solicit a response from, specific customers and prospects is called:

answer

direct marketing

question

An article in a local newspaper on the retreat and how helpful it has been to a variety of people who have stayed there is an example of:

answer

public relations and publicity

question

The three distinct benefits of ________ are its ability to communicate, its ability to act as an incentive, and its invitation to consumers to buy now.

answer

sales promotion

question

A common criticism of sales promotion is that it may

answer

lower consumer price expectation of the brand. B) force companies in sales promotion wars. C) only produces short term results.

question

Which of the following would not be considered a Sales Promotion tool?

answer

specialty store selling

question

Which term is used to describe the approach which enables marketers to communicate with customers in real time and to obtain a measured response for a measured input of expenditure?

answer

one-to-one marketing, direct or direct-order marketing, e-marketing, interactive marketing

question

The Expecto Corporation is preparing to introduce a new, unique product. The first goal of its marketing program will be to develop:

answer

awareness

question

Most consumers believe that one brand of a convenience product is essentially the same as all others. To overcome this perception, each seller's communication program is likely to be aimed at developing

answer

preference

question

The ultimate goal of the firm's communication effort is typically to move the consumer to:

answer

purchase

question

Sales promotion

answer

includes a wide assortment of tools - coupons, contests, cents-off deals, premiums, and others; act of influencing customer/consumer perception and behavior to build market share and sales to reinforce brand image

question

push strategy

answer

the company pushes the product through intermediaries

question

pull strategy

answer

the company promotes directly to final consumers creating a demand which it fulfills through intermediaries

question

affordable method

answer

set at the level the company can afford

question

percentage-of-sales method

answer

set at a certain percentage of current or forecast sales

question

competitive-parity method

answer

set to match competitors' outlays

question

objective-and-task method

answer

set by defining specific objectives and determining the promotional tasks required to achieve these objects

question

AIDA model

answer

message should get Attention hold Interest arouse Desires and obtain Action

question

reach

answer

a measure of the % of people in the target market who are exposed to the ad campaign during a given period of time

question

3 major methods of advertising pre-testing

answer

direct rating, portfolio tests, laboratory tests

question

2 methods of post-testing advertisements

answer

recall test, recognition tests

question

bait-and-switch advertising

answer

attracts buyers under false pretences

question

Relationship marketing (RM)

answer

the process of creating, maintaining and enhancing strong, value-laden relationships with customers and other stakeholders by creating superior customer value and satisfaction

question

direct marketing

answer

an interactive system of marketing which uses one or more advertising media to effect a measurable response and/or transaction at any location; connecting directly with carefully targeted individual

question

sustainable marketing

answer

socially and environmentally responsible actions that meet the present needs of consumers and business; preserve or enhance the ability of future generations to meet their needs

question

consumer-oriented marketing

answer

view and organize its marketing activities from the consumer's point of view

question

customer-value marketing

answer

put most of company resources into customer value-building marketing investments; create value FOR consumers to capture value FROM them in return

question

innovative marketing

answer

the company should continuously seek real product and marketing improvements

question

sense-of-mission marketing

answer

the company should define its mission in broad SOCIAL terms rather than narrow PRODUCT terms

question

salutary products

answer

have low appeals but may benefit consumers in the long run

question

Trade Practices Act 1974 (TPA)

answer

comes into play in IP marketing cases; especially so under trademarks

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