Marketing 327 Final Exam – Flashcards
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A market differs from a central market only in terms that a central market refers to a physical location
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False
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Grading
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Organizing goods and/or services according to quality or perceived performance
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Buying
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Looking for, evaluating, and selecting goods and/or services
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Selling
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Promoting or advocating for a good or service and/or negotiating for its price
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Storing
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Holding products until the time is appropriate for making or breaking bulk
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Standardization
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Organizing goods and/or services according to size or functionality
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Risk taking
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Bearing or taking steps to mitigate the uncertainties that occur in a market system or in the marketing process
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Transportation
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Moving goods and services from one location to another
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Financing
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Providing cash flow that enables production or purchase
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Collect/Disseminate market information
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The collection, analysis, distribution, and/or storage of data, facts, and opinions that contribute to marketing decision making
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Everything that has value also has utility or usefulness, and everything that has utility or usefulness has value
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False
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The main purpose of a macro-marketing system is to overcome the _____________ and _____________ inherent in economic systems
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Seperations, discrepancies
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What type of utility makes goods and services available when they are wanted?
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Time
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Which of the following is one of the benefits or results of marketing at the societal domain?
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Quality of life
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The collective common beliefs, perspectives and identity held by members of community with respect to some purpose or cause, or object or brand defines the term ________________.
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Shared consciousness
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A community-centric strategy usually involves lower marketing costs
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True
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The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges defines which of the following?
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Marketing Management
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The co-production of community; and the development of networks of channels and relationships to connect with that community defines ___________.
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Market creation
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Which of the following are required for marketing activities and transactions to be able to occur as opposed to simply enabling a market to exist?
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-Universal marketing functions are at work -Communication can occur or is at work -Individuals have the financial ability to buy
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Marketing with meaning is about improving customers' lives through the marketing itself
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True
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One part of the statement defining the essence of marketing refers to the formation of community, connections, and relationships. Which of the following terms involves the marketing activities directed at achieving these objectives?
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Market creation
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The context or cultural category that enables some action or expression to communicate a message to others internal or external to the community enabling some common understanding defines which of the following components of a community?
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Meaning
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What is a place where a company might have room to maneuver in a crowded playing field?
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White space
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Which of the following statements defines a community?
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A group of individuals or organizations with common purpose, linked perspectives or experiences, and physical or virtual proximity
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Which of the following defines identity, one of the underlying components of a community?
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The community member's affiliation or sense of belonging to the community
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A community-centric marketing strategy is most effective in which of the following situations
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Economic or industry downturn
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Which of the following defines moral responsibility, one of the underlying components of a community?
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The community member's sense of duty or the community's behavioral norms
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Which of the following refers to a group of individuals, groups, or organizations that are integrated within a dynamic network of environmental cause and effect activities that share purpose and proximity?
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Community
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Marketing with meaning adds value to people's lives independent of ____________.
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Purchase
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Which of the following is a characteristic of marketing with meaning?
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Invites customer participation
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A community-centric marketing strategy tends to increase:
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Innovation, Authenticity, growth
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A community-centric marketing strategy does not increase
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Costs
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The philosophy of customer orientation focuses on which of the following?
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Satisfying customer needs and wants
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A want is a specific form of consumption that satisfies what?
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A need
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Six key forces important in creating and capturing value
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relationships, sustainability, technology and E-commerce, global, diversity, and ethics
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The mutual interactive, ongoing two way connection of product and its persona with some aspects of buyer's life or lifestyles is referred to as a ______________.
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Relationship
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A __________ is a specific learned form of expressed or desired behavior or consumption designed to satisfy some state of deprivation
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want
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A ______________ is a fundamental requirement of a human's physical or psychological requirement for survival, the meeting of which is the ultimate goal or motivator of behavior
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need
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A responsive and effective customer support system would be an example of an _______________ source of value for a _____________ type of value or utility
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interaction, functional
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Ideas goods and services are exchanged in which of the following markets
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-Consumer markets -Business-to-consumer marketings and business-to business markets -Non-profit markets -Internal markets
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Steps of the marketing strategy process:
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-Target marketing -Situational analysis -Marketing mix decisions -Positioning
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Not a step of the marketing strategy process
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Licensing
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The development and maintenance of successful relational exchanges through interactive, ongoing, two-way connections, among customers, organizations, suppliers, and other parties for mutual benefit is called:
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Relationship marketing
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Creation of value through innovation and the marketing mix helps marketing form connections at which level?
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Micro
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A measure of a buyer's insistence, faithfulness, or allegiance for purchasing a particular product or service as reflected by their repeated purchase, willingness to pay more, or willingness to exert more effort in acquiring if referred to as _____________.
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Loyalty
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The ownership utility is different from the cost/sacrifice utility or value
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True
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There are two critical tasks associated with the essence of marketing: market creation and market penetration or customer creation
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True
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Which of the following is a source of value as opposed to a type of value
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Environment
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Which two elements are most influential in creating customer loyalty?
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Satisfaction and customer value
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Which of the following elements are part of the customer acquisition process as opposed to the customer retention process?
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Demand
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The costs of other sacrifices associated with the purchase, ownership, and or use of a product or service are called _______.
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transaction
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Effective marketing can most influence which of the following?
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Wants
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Which of the following would be considered part of the primary activities of a value chain?
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-Marketing and sales -Service -Inbound logistics
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A need is a
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fundamental requirement
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What consumers perceive they gain from owning or using a product or service over and above the cost of acquiring it
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value
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Required for wants to become demands (or a market)
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-person has desire to satisfy want -person has access to product or service -person can afford product or service
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Considered part of the support activities of a value chain
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-Procurement -Human resource management -Infrastructure
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A _______________ is a set of activities that an organization carries out to create value for its customers
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Value chain
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The role of purpose of marketing in a firm is defined by which of the following?
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Marketing concept
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Which of the following types of marketing exchanges or relationships has the unique feature that a new firm is created?
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Joint venture
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Stakeholders of an organization include:
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Employees, customers, suppliers, stockholders
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Stakeholders of an organization do not include:
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Target markets
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The societal marketing concept seeks to balance which of the following?
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customer satisfaction, corporate profits, and the well being of society
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Which of the following is defined by, a loose and flexible coalition guided from a hub where the key functions include development and management?
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Confederation
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A low-cost strategy focuses on which of the following
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Winning through efficiency
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A business definition describes which of the following?
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The contributions a company seeks to make to customers and society
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Which of the following is the essential element of a strategy that is defined as the 'selection of which operational activities or resources to engage in differently?
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Business model
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Lark Inc.is an American electronics company that is currently reviewing new geographical markets to sell its highly popular LED televisions. By 2020 it plans to open new stores across all the major South Asian cities in order to provide personal, customized products and services to all of its clients. Lark is most likely following a which of the following types of strategy.
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Customer Intimacy
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Which of the following is not one of the basic types of competitive strategy?
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One of the core competencies
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The image of the organization relative to the competition is developed in what phase of the strategic marketing planning process?
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Positioning
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Which of the following types of marketing exchanges or relationships has the essential feature of moving each of the partners toward the achievement of some mutual long-term, goal?
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Strategic alliance
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When executives focus on their company's current products and services rather than on benefits to consumers, what condition occurs?
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Marketing myopia
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The core values of Johnson and Johnson outline which of the following?
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the ethics and social responsibility that define behaviors expected from the company and its employees
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Which of the following is classified as differentiation strategy?
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Dell Computer introduces a new computer line for the educational market that is unique from any other and is guaranteed to require 50% less service than current lines.
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Which of the following is defined as the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.
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Strategic planning
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The basic characteristic of a network organization is ___________
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confederation
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Sustainable competitive advantage refers to a strategy that:
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competitors cannot easily duplicate or surpass
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A company's long-term plan for using resources to pursue goals and objectives in competitive arenas is called:
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Strategy
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Not-for-profit organizations are required to keep financial records that can be easily understood, audited, and tracked. This is referred to as ____________
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Transparency
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Which of the following statements refers to political marketing?
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Promoting an individual or idea in order to influence public policy
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Non-profit organizations tend to have stronger selling propositions than business organizations, because their constituents having greater involvement with organization's respective cause
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False
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The personal capabilities of a person which are characterized by relationships with other people, or which are about how person approaches life and work is referred to as a __________.
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Soft skill
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Which of the following activities is/are involved in the second step or stage in the marketing planning process?
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-Strategic marketing plan -Marketing control process
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Strategic marketing plan consists of which of the following?
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-Three phases -Nine (expanded steps)
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Fifth step in the marketing control process
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Take action deemed appropriate by the control process
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Second step in the marketing control process
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Measure what performance has occured
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Purpose of situation analysis:
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provide information that enhances the understanding of the marketing environment
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Organizational vision
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Statement of an organizational operating philopsophy
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Tactical implementation plan
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a short-term plan for actions and reactions to specific market conditions for how each part of the controllable marketing variables will be used to achieve the stategic marketing plan goals
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Strategic marketing plan
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A writen document describing company marketing objectives and how to broadly achieve them in light of competitive activities.
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Marketing control process
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A short-term plan for procedures designed to provide feedback for how well the marketing strategy is working.
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the ability of the company to provide products that satisfy customer needs and wants
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Being on code
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First step in the marketing control process
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Review original performance objectives
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The purpose of target marketing is to:
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select market segments, based on sales potential, that the firm will emphasize in attempts to satisfy customers better than its competitors.
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Which of the following creates (as opposed to produces) value primarily through marketing?
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-Task -Time -Place -Form -Possession
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Which of the statements below defines the universal marketing function: standardization?
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Organizing goods and/or services according to size or functionality
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Which of the following statements best defines the concept of macro marketing?
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The social mechanism that fuels economic development and improved quality of life by connecting members of a society and sectors of an economy enabling specialization
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What type of utility makes goods and services available when they are wanted
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Time
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Which of the following is a conditions or component of a marketing or transaction relationship?
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-Has a persona -Linked to meaning or image -Embodies some lifestyle
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Which of the following would be considered part of the primary activities of a value chain?
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-Marketing and sales -Service -Inbound logistics
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The context or cultural category that enables some action or expression to communicate a message to others internal or external to the community enabling some common understanding.defines which of the following components of a community?
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Meaning
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A community-centric marketing strategy tends to increase which of the following factors
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Company reinvention
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A ____________ is the individuals and/or firms involved in the process of making a product or service available for examination or purchase when a customer wants and where they want it.
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Channel
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Which of the following elements of a corporate vision is defined as the set of values, ideas, and behavioral norms that are learned and shared among members of an organization, and dictates the nature of the organizations primary objectives?
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Corporate Philosophy or culture
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Key benefit of globally-oriented organization
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Companies that connect globally generally have a better understanding of diversity and competition
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Sustainable competitive advantage refers to a strategy that:
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Competitors cannot easily duplicate or surpass
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Which of the following best describes a strategic business unit (SBU)?
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one of the key businesses or profit centers that make up a company
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Which of the following steps in a strategic marketing plan is part of the strategic framework?
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Positioning
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Which of the following steps in a strategic marketing plan is part of the information foundation?
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S.W.O.T. analysis
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The point in time when market needs and an organization's capabilities fit together to provide a significant opportunity is referred to as a __________.
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strategic window
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Which of the following statements defines knowledge generation
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The process to collect and transform data into knowledge
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First step of the marketing research process
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Problem definition
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what three types of analytics transform big data into information for business use?
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Descriptive analysts, predictive analytics, and prescriptive analytics
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Difference between data and information
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Data is uninterpreted and information is in a form useful for decision making
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Transaction-based information system
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A computerized link between a firm and customers, distributors, and supplies
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Which of the following types of analaysis procedures for big data provides performance indicators linked to marketing strategy?
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Descriptive analytics
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Which of the following parts of a marketing information system collects external information for a specific decision problem?
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Marketing research
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Marketing mix decisions are part of
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Information and decision making
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Which of the following statements defines a marketing information system?
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The people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information
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In the knowledge generation process query directly results in which of the following?
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Data
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Third step of the marketing research process
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Exploratory research
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All marketing decisions begin with and depend on which of the following
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Strategic insight
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Which of the following parts of a marketing information system collects external information on a regular basis irrespective on any specific decision problem?
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Marketing intelligence
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In the knowledge generation process in order for information to be turned into knowledge it must be exposed to which of the following?
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Analysis framwork
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In the knowledge generation process knowledge directly results in which of the following?
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Query
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In today's economic environment the most competitive firms succeed by developing, improving, protecting, and renewing knowledge.
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True
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In the knowledge generation process data directly results in which of the following?
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Information
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The understanding, or experience enabling tasks to be done with maximum efficiency and effectiveness defines which of the following terms?
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Knowledge
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From where are secondary data obtained?
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Sources that have already gathered the data
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Which of the following parts of a marketing information system primarily processes and analyzes data?
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Decision support system
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From where are internal data obtained?
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-Sales force call reports -Internal product marketing managers emails
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Which of the following parts of a marketing information system primarily collects external data?
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-Marketing intelligence -Marketing research
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Which of the following is a data or information requirement for understanding stakeholders?
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Intermediaries
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The marketing environment is
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The sum of all facts that affect a business
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The best way for marketers to respond to action groups is to:
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Form meaningful relationships with them
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Which is the most dynamic and fluid key force (or environment) of the global macroenvironment?
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Technological environment
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A target market consisting of individuals born between 1946 and 1964 would be referred to as which of the following?
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Baby boomers
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Marketers interact with and regularly influence which of the following?
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Microenvironment
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Watchdogs' that balance the interests of the environment and people with companies' profit seeking goals are called what?
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Action groups
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Which of the statements below defines a competitor analysis?
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The assessment of the strengths and weaknesses of current and potential competitors
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The external forces that may prevent the company from accomplishing its objectives is the definition of which of the following?
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A threat
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Last step in a competitor analysis?
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determining competitor's business models
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An organization's strengths or weaknesses are composed in most part by its external environmental factors? T or F
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False
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An organization's strengths or weaknesses are composed in most part by its internal environmental factors? T or F
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True
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Understanding the level of involvement and the decision making process helps define which of the following with respect to some product or service?
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How it is bought
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Johnson Corp. is planning to market a low-involvement purchase product. Which of the following would you expect?
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Consumers will make a choice about the product without a lot of effort
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Which of the following statements defines purchase involvement?
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The determination of the extent of the importance or complexity and time-consuming nature of the purchase of some product or service.
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The choice framework model plays a role in which stage of the customer decision making process?
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Alternatives evaluation
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What is the second step in the consumer decision making process?
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Information search
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Social factors that influence consumer behavior:
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-Family -Social Class -Subculture -Culture
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Which of the following is a data or informational requirement to determine the type of customer as opposed to the type of buyer?
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-Demographic profile factors -Psychological motives -Age or buying motives
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Assessing the extent a product or service is on code requires the determination of whether it is inline or consistent with which of the following factors?
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-Customer's community -Aspects of customer's consciousness
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Which of the following statements defines being on code?
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The process to determine whether the product or service lines up with some deep rooted social (tribal) and/or psychological factor that drives consumption.
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Which of the following is most typical of low involvement purchases?
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Low priced items usually fall into this category
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The ___________ conflict occurs when a consumer desires two objectives but cannot have both
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Approach-Approach
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Which of the following is most correct regarding perception?
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People are constantly receiving stimuli and can only process a limited number of them.
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Three components of attitudes
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Cognitie, affective and behavioral
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Which of the following statements defines generalization
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Making the same response to different stimuli
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The concept of __________ is defined as the tendency to seek out of avoid information sources
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Selective exposure
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People whose norms and values influence consumers' behavior, such as a company spokesperson, are called what?
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Reference Groups
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Business (B2B) markets include:
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commercial, military, transportation and federal government.
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Stryker Corporation is in the process of purchasing a component from a supplier that will be used in manufacturing a new product. The company perceives a high risk in making this purchase. Consequently, we would expect:
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That several people will be involved in evaluating the purchase decision
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Which of the following is most correct about competitive bidding?
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It is used by organizations that want to establish long-term relationships with suppliers rather than obtain the lowest price.
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A build up segmentation method starts with identify the characteristics of a single customer.
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True
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Segmentation based on city or country is _____ segmentation.
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Geographic
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As purchasers of goods and services, government markets include:
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-Federal governments -State governments -Local governments
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While not required, an organization may go through up to ______ different stages in the organizational buying process.
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eight
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What is the major reason that companies like General Motors and Proctor & Gamble have many brands of the same type of product?
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To provide brands designed to meet the needs of many different market segments
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Information is composed of data that have been
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Analyzed and put in useful form
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Which of the following types of analaysis procedures for big data indicates which course of action should be taken, and provides the expected outcomes from the recommended course of action?
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Prescriptive analytics
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An organization's strengths or weaknesses are composed in most part by its external environmental factors?
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False
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Assessing the extent a product or service is on code requires the determination of whether it is inline or consistent with which of the following factors?
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-Customer's community -Aspects of customer's consciousness
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Which of the following are characteristic of a product or service that has routinized behavior?
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-Frequent purchase -Low involvement
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Distinguishing product benefits from product attributes and linking the two helps define which of the following with respect to some product or service?
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What is bought
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Which of the following psychological influences primarily directs the fulfillment of demand?
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Attitudes
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Which of the following statements defines avoidance-avoidance conflict?
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occurs when consumers must choose between two undesirable alternatives
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Which of the criteria below for the results of a segmentation analysis to be successful or useful refers to the extent the organization can make a profit marketing to that segment?
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Substantial
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The linkage of organizations involved in the creation and delivery of a product is called:
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Supply chain
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A ____________ strategy is a guiding framework that identifies which aspect of demand the firm should focus on.
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General marketing
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A group of firms in an industry following the same or similar strategy is referred to as a strategic group.
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True
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Operational excellence is one of the alternative courses of action for demand management.
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False
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Which of the following is an alternative course of action for a positioning strategy?
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Demand focus
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Market segments are represented in a product map or perceptual map with which of the following?
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Ideal points
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Michigan Athletic Club has identified several distinct target markets for its services and has designed separate offerings for each. This is called:
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Differentiated marketing
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A Segmentation strategy (or Targeting Strategy) helps frames the marketing mix actions required to achieve the desired market position. T or F
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False
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When an organization selects one substantial market and directs its efforts at competing for those customers, it is engaged in which of the following targeting strategies?
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Concentrated marketing
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A ____________ segmentation or targeting strategy focuses the organization's marketing mix strategy on one very small market segment that most competitors ignore.
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niche
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Which of the following is decision criteria for selecting a positioning strategy?
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-Nature of Demand -Nature of market structure -Level of competition
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The total market is heterogeneous. This means:
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Made up of many types of buyers
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Which of the following strategic framing decisions frames or produces a guideline for who will be marketed to?
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Segmentation
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Which of the following would be the primary reason for using a concentrated segmentation or targeting strategy over a differentiation segmentation or targeting strategy?
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Company's resources
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Ben Franklin University has segmented the market for the purpose of attracting high school graduates. They identified 11 distinct market segments. Their marketing approach is to do a mailing with the same message to graduating seniors in all 11 segments, followed up with a telephone call. Which targeting strategy is being used?
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Undifferentiated marketing
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A _______ segmentation or targeting strategy focuses a unique marketing mix strategy to each or most of the market segments available in the market.
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differentiated
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A _____ tactical marketing plan is a generic marketing program outlining the basic actions that should be taken in terms of the marketing mix.
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Skeleton
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An organization's ______ statement is a determination of what actions need to be taken or what things have to occur for the corporate objectives to be achieved
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objective
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Which of the following is an alternative course of action for a segmentation strategy?
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Change product's rating on an attribute
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Which of the following represents the appropriate sequence of the three stages marketers use to connect with customers?
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Segmentation, targeting, and positioning
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Which of the following is decision criterion for both a segmentation strategy and positioning strategy?
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Level of competition
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Which of the following is one of the criteria for selecting a segmentation strategy as opposed to selecting a segmentation?
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-Company resources -Stage in life cycle -Market behavior
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Rating Industries uses a marketing strategy that attempts to make its products appear unique relative to the competition. Which strategy is it using?
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Product differentiation
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A company has assessed through its information foundation analyses that buyers of its very frequently purchased product planned moderately before their purchase of their product and makes several comparisons over time. The company should classify this product as a(n) _____ product
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Staple
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Which of the following is a criterion used to classify or determine stage in a product life cycle?
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-Firm's in the industry -Profit levels
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A core product:
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is associated with the basic functions received in the form of a physical item or intangible service.
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Selling to new segments, stimulating more frequent use, encouraging more use per occasion and promoting more varied use are:
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ways to extend the product life cycle
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Which type of product has unique characteristics that provide unusual value to the purchaser?
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Specialty
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A company has assessed through its information foundation analyses that buyers of its infrequently purchased product never or rarely planed for the purchase of their product nor makes any comparisons. When they do it is usually at the buyer's home or office. The company should classify this product as a(n) ______ product
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unsought
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A core product with characteristics that differentiate it from similar products is called a(n):
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branded product
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The difference between an operational product and a production product is that a production product does not become part of the customer's finished product. T or F
answer
False
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A product life cycle provides guidelines for a skeleton tactical marketing plan.
answer
True
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The general marketing strategy provides part of the strategic direction for a skeleton tactical marketing plan.
answer
True
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A company has assessed through its information foundation analyses that firms are still leaving its industry and none are entering, the industry's growth rate has been decreasing steadily over the last three years, while most firms in the industry have seen their profits stagnating as well. The company should view its product as being in the _______ stage of its industry's product life cycle.
answer
decline
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A company has assessed through its information foundation analyses that the number of firms in the industry is stable with firms not entering or leaving, the industry's sales has peaked and profits peaked recently. The company should view its product as being in the ____ stage of its industry's product life cycle
answer
Maturity
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A company has assessed through its information foundation analyses that firms are still entering its industry and none are leaving, the industry's growth rate has been increasing steadily over the last three years, while most firms in the industry have seen their profits increasing as well. The company should view its product as being in the ____ stage of its industry's product life cycle
answer
growth
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A company has determined that is customers depreciate the company's product. The product should be classified as which of the following?
answer
Capital item
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Which type of product is generally purchased only after the consumer has compared the style, features, pricing, packaging, and quality of several alternatives?
answer
shopping
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An augmented product has which of the following?
answer
characteristics that enhance value beyond that of core and branded products
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Which of the following is not considered a classification of consumer products?
answer
operating
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What are the three roles for a product in the marketing planning process?
answer
1. perform function 2. provide meaning 3. frame mix
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At what stage of the product life cycle do sales generally grow at a slow rate?
answer
Introduction
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Which type of product is purchased when an unexpected event takes place and the consumer has an urgent need for a product?
answer
emergency
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Unsought products are
answer
Not thought about frequently or perceived as very necessary
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What are the three dimensions of how marketing experts describe products?
answer
core, branded, augmented
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According to the product life cycle, at what stage do profits begin to decline?
answer
Maturity
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Which of the following is a criterion used to classify or determine how a product should be classified?
answer
-Comparisons made -Purchase planning -location of purchase decision
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Answers to questions by executives like will the organization be a market leader, close follower or also-ran; will it have broad or deep product lines; and, how much will be invested in R&D are:
answer
Part of the new product strategy
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Creating new products for existing market segments is:
answer
Product development
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Idea screening involves the gathering of suggestions for new products from a number of sources. T or F
answer
False
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The adoption process is
answer
the 5 steps consumers go through in making a product choice: knowledge, persuasion, decision, implementation and confirmation.
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When a company uses a limited trial of a strategy for a new product in a limited geography that is similar to the total market, the company is using a:
answer
Test market
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Which of the following research producedures is most realistic, meaning it is most likely to reflect what will happen in the actual marketplace?
answer
Market test
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Developing new products for new market segments is:
answer
Diversification
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Which of the following category of potential buyers is very important because of word of mouth and that other buyers emulate them?
answer
Early adopters
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Which of the following comes earliest in new product development?
answer
Idea screening
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Which of the following statements best defines the concept of the hierarchy of effects model?
answer
The sequence of stages a prospective buyer goes through
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If a marketing manager's selling task was to improve the attribute ratings for their product or service, which communication objective should be used?
answer
Communicate uniqueness
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_______________ is the coordination of advertising, sales promotion, personal selling, public relations, and sponsorship to reach consumers with a powerful effect in the market.
answer
Integrated marketing communications
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If a marketing manager wanted to increase the percentage of its target market taking the action of purchasing, which of the following communication mix should receive the majority of funding?
answer
Personal selling
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The objective of Integrated communications is to:
answer
-Provide info -Communicate value -Communicate product uniqueness -Build relationships and loyalty
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Comparative messages:
answer
draw attention to the sponsor's brand and other brands mentioned in the message.
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Marketers should begin the communication process by understanding:
answer
Specific media to be used to communicate, the cost of that media, and which media competitors are using
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_____________is an unpaid form of communication.
answer
Public relations
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Which of the following channel management decision involves the consideration of the universal marketing functions?
answer
Channel member selection
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Conventional and contractual are alternative courses of action for which of the following channel management decisions?
answer
Channel organization
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A ______ management system involves all activities concerned with the planning, implementation, and control of sourcing, manufacturing, .and delivery of a product.
answer
supply chain
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The concept of _______ is defined as programs to improve the efficiency of replenishing, delivering and stocking inventory in the distribution channel, while promoting customer value.
answer
Efficient consumer response
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Conventional and contractual are alternative courses of action for which of the following channel management decisions?
answer
channel organization
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Buying, selling, and risk are _____________ universal marketing functions
answer
transactional
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A conventional channel organization consists of organizations with informal relationships which tie them together. T or F
answer
False
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Which of the following channel management decision impacts the organization's coverage?
answer
-Channel organization -Channel Structure -Channel intensity
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Exclusive and selective are alternative courses of action for which of the following channel management decisions?
answer
channel intensity
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Which of the statements below is not true with respect to a distribution channel?
answer
Distribution channels are primarily responsible for executing decisions to create and communicate value
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Grading and financing are ___________ universal marketing functions
answer
Facilitating
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Which of the following channel management decision impacts the organization's competencies or connectivity?
answer
-Channel member selection -channel management
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Which of the following channel organizations provide the marketer the most control?
answer
Franchise
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Reverse and multiple are alternative courses of action for which of the following channel management decisions?
answer
Channel structure
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What type of distribution channel is being implemented when companies use their own employees and physical assets to serve the market?
answer
Direct channel
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A ____________ is defined as a distribution channel in which the producer uses its own ,employees and physical assets to distribute the product directly to the end user.
answer
Direct Channel
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Which of the following is an area where the product design product decision impacts value creation?
answer
Directly impacts form utility through benefits provided
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In which of the following types of marketing does the customer value experiences?
answer
-Place marketing -Event marketing -Content marketing
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Which of the following service classification would have greatest price sensitivity?
answer
-Self service equipment-based service
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Experiences that are consumed during delivery are
answer
Almost pure services
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Which of the following is one of the purposes of the brand decision?
answer
Storing Goodwill
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Which of the following identifies the five dimensions of brand equity?
answer
brand awareness, brand loyalty, perceived quality, brand associations, competitive advantage
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Which is correct regarding the sale of goods to consumers by wholesalers?
answer
-By definition they should only sell to retailers, but some do sell some small percentage of their products to consumers -Many wholesalers make no sales to consumers, while some sell to both retailers and consumers.
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The growth in entrepreneurship is one of the factors driving the tremendous growth in direct marketing?
answer
True
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Transfer prices are:
answer
The amount a company charges its foreign affiliate for a product.
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Which of the following is a match?
answer
Best total solution --> customer intimacy
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