question

How does marketing perform its most essential role at the macro level?

answer

Through the universal marketing functions

question

Which of the following economic utilities involves obtaining a good or service and having the right to use or consume it?

answer

Possession

question

Which of the following statements defines micro-marketing (or managerial marketing)?

answer

The activity for creating, communicating, delivering, and capturing the value from offerings that benefit the organization, its stakeholders, and society

question

Which of the following is one of the results of marketing connections at the macro level?

answer

Improved Quality of Life

question

A market differs from a central market only in terms that a central market refers to a physical location

answer

False

question

Grading

answer

Organizing goods and/or services according to quality or perceived performance

question

Buying

answer

Looking for, evaluating, and selecting goods and/or services

question

Selling

answer

Promoting or advocating for a good or service and/or negotiating for its price

question

Storing

answer

Holding products until the time is appropriate for making or breaking bulk

question

Standardization

answer

Organizing goods and/or services according to size or functionality

question

Risk taking

answer

Bearing or taking steps to mitigate the uncertainties that occur in a market system or in the marketing process

question

Transportation

answer

Moving goods and services from one location to another

question

Financing

answer

Providing cash flow that enables production or purchase

question

Collect/Disseminate market information

answer

The collection, analysis, distribution, and/or storage of data, facts, and opinions that contribute to marketing decision making

question

Everything that has value also has utility or usefulness, and everything that has utility or usefulness has value

answer

False

question

The main purpose of a macro-marketing system is to overcome the _____________ and _____________ inherent in economic systems

answer

Seperations, discrepancies

question

What type of utility makes goods and services available when they are wanted?

answer

Time

question

Which of the following is one of the benefits or results of marketing at the societal domain?

answer

Quality of life

question

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 ________________.

answer

Shared consciousness

question

A community-centric strategy usually involves lower marketing costs

answer

True

question

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?

answer

Marketing Management

question

The co-production of community; and the development of networks of channels and relationships to connect with that community defines ___________.

answer

Market creation

question

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?

answer

-Universal marketing functions are at work -Communication can occur or is at work -Individuals have the financial ability to buy

question

Marketing with meaning is about improving customers' lives through the marketing itself

answer

True

question

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?

answer

Market creation

question

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?

answer

Meaning

question

What is a place where a company might have room to maneuver in a crowded playing field?

answer

White space

question

Which of the following statements defines a community?

answer

A group of individuals or organizations with common purpose, linked perspectives or experiences, and physical or virtual proximity

question

Which of the following defines identity, one of the underlying components of a community?

answer

The community member's affiliation or sense of belonging to the community

question

A community-centric marketing strategy is most effective in which of the following situations

answer

Economic or industry downturn

question

Which of the following defines moral responsibility, one of the underlying components of a community?

answer

The community member's sense of duty or the community's behavioral norms

question

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?

answer

Community

question

Marketing with meaning adds value to people's lives independent of ____________.

answer

Purchase

question

Which of the following is a characteristic of marketing with meaning?

answer

Invites customer participation

question

A community-centric marketing strategy tends to increase:

answer

Innovation, Authenticity, growth

question

A community-centric marketing strategy does not increase

answer

Costs

question

The philosophy of customer orientation focuses on which of the following?

answer

Satisfying customer needs and wants

question

A want is a specific form of consumption that satisfies what?

answer

A need

question

Six key forces important in creating and capturing value

answer

relationships, sustainability, technology and E-commerce, global, diversity, and ethics

question

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 ______________.

answer

Relationship

question

A __________ is a specific learned form of expressed or desired behavior or consumption designed to satisfy some state of deprivation

answer

want

question

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

answer

need

question

A responsive and effective customer support system would be an example of an _______________ source of value for a _____________ type of value or utility

answer

interaction, functional

question

Ideas goods and services are exchanged in which of the following markets

answer

-Consumer markets -Business-to-consumer marketings and business-to business markets -Non-profit markets -Internal markets

question

Steps of the marketing strategy process:

answer

-Target marketing -Situational analysis -Marketing mix decisions -Positioning

question

Not a step of the marketing strategy process

answer

Licensing

question

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:

answer

Relationship marketing

question

Creation of value through innovation and the marketing mix helps marketing form connections at which level?

answer

Micro

question

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 _____________.

answer

Loyalty

question

The ownership utility is different from the cost/sacrifice utility or value

answer

True

question

There are two critical tasks associated with the essence of marketing: market creation and market penetration or customer creation

answer

True

question

Which of the following is a source of value as opposed to a type of value

answer

Environment

question

Which two elements are most influential in creating customer loyalty?

answer

Satisfaction and customer value

question

Which of the following elements are part of the customer acquisition process as opposed to the customer retention process?

answer

Demand

question

The costs of other sacrifices associated with the purchase, ownership, and or use of a product or service are called _______.

answer

transaction

question

Effective marketing can most influence which of the following?

answer

Wants

question

Which of the following would be considered part of the primary activities of a value chain?

answer

-Marketing and sales -Service -Inbound logistics

question

A need is a

answer

fundamental requirement

question

What consumers perceive they gain from owning or using a product or service over and above the cost of acquiring it

answer

value

question

Required for wants to become demands (or a market)

answer

-person has desire to satisfy want -person has access to product or service -person can afford product or service

question

Considered part of the support activities of a value chain

answer

-Procurement -Human resource management -Infrastructure

question

A _______________ is a set of activities that an organization carries out to create value for its customers

answer

Value chain

question

The role of purpose of marketing in a firm is defined by which of the following?

answer

Marketing concept

question

Which of the following types of marketing exchanges or relationships has the unique feature that a new firm is created?

answer

Joint venture

question

Stakeholders of an organization include:

answer

Employees, customers, suppliers, stockholders

question

Stakeholders of an organization do not include:

answer

Target markets

question

The societal marketing concept seeks to balance which of the following?

answer

customer satisfaction, corporate profits, and the well being of society

question

Which of the following is defined by, a loose and flexible coalition guided from a hub where the key functions include development and management?

answer

Confederation

question

A low-cost strategy focuses on which of the following

answer

Winning through efficiency

question

A business definition describes which of the following?

answer

The contributions a company seeks to make to customers and society

question

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?

answer

Business model

question

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.

answer

Customer Intimacy

question

Which of the following is not one of the basic types of competitive strategy?

answer

One of the core competencies

question

The image of the organization relative to the competition is developed in what phase of the strategic marketing planning process?

answer

Positioning

question

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?

answer

Strategic alliance

question

When executives focus on their company's current products and services rather than on benefits to consumers, what condition occurs?

answer

Marketing myopia

question

The core values of Johnson and Johnson outline which of the following?

answer

the ethics and social responsibility that define behaviors expected from the company and its employees

question

Which of the following is classified as differentiation strategy?

answer

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.

question

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.

answer

Strategic planning

question

The basic characteristic of a network organization is ___________

answer

confederation

question

Sustainable competitive advantage refers to a strategy that:

answer

competitors cannot easily duplicate or surpass

question

A company's long-term plan for using resources to pursue goals and objectives in competitive arenas is called:

answer

Strategy

question

Not-for-profit organizations are required to keep financial records that can be easily understood, audited, and tracked. This is referred to as ____________

answer

Transparency

question

Which of the following statements refers to political marketing?

answer

Promoting an individual or idea in order to influence public policy

question

Non-profit organizations tend to have stronger selling propositions than business organizations, because their constituents having greater involvement with organization's respective cause

answer

False

question

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 __________.

answer

Soft skill

question

Which of the following activities is/are involved in the second step or stage in the marketing planning process?

answer

-Strategic marketing plan -Marketing control process

question

Strategic marketing plan consists of which of the following?

answer

-Three phases -Nine (expanded steps)

question

Fifth step in the marketing control process

answer

Take action deemed appropriate by the control process

question

Second step in the marketing control process

answer

Measure what performance has occured

question

Purpose of situation analysis:

answer

provide information that enhances the understanding of the marketing environment

question

Organizational vision

answer

Statement of an organizational operating philopsophy

question

Tactical implementation plan

answer

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

question

Strategic marketing plan

answer

A writen document describing company marketing objectives and how to broadly achieve them in light of competitive activities.

question

Marketing control process

answer

A short-term plan for procedures designed to provide feedback for how well the marketing strategy is working.

question

the ability of the company to provide products that satisfy customer needs and wants

answer

Being on code

question

First step in the marketing control process

answer

Review original performance objectives

question

The purpose of target marketing is to:

answer

select market segments, based on sales potential, that the firm will emphasize in attempts to satisfy customers better than its competitors.

question

Which of the following creates (as opposed to produces) value primarily through marketing?

answer

-Task -Time -Place -Form -Possession

question

Which of the statements below defines the universal marketing function: standardization?

answer

Organizing goods and/or services according to size or functionality

question

Which of the following statements best defines the concept of macro marketing?

answer

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

question

What type of utility makes goods and services available when they are wanted

answer

Time

question

Which of the following is a conditions or component of a marketing or transaction relationship?

answer

-Has a persona -Linked to meaning or image -Embodies some lifestyle

question

Which of the following would be considered part of the primary activities of a value chain?

answer

-Marketing and sales -Service -Inbound logistics

question

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?

answer

Meaning

question

A community-centric marketing strategy tends to increase which of the following factors

answer

Company reinvention

question

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.

answer

Channel

question

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?

answer

Corporate Philosophy or culture

question

Key benefit of globally-oriented organization

answer

Companies that connect globally generally have a better understanding of diversity and competition

question

Sustainable competitive advantage refers to a strategy that:

answer

Competitors cannot easily duplicate or surpass

question

Which of the following best describes a strategic business unit (SBU)?

answer

one of the key businesses or profit centers that make up a company

question

Which of the following steps in a strategic marketing plan is part of the strategic framework?

answer

Positioning

question

Which of the following steps in a strategic marketing plan is part of the information foundation?

answer

S.W.O.T. analysis

question

The point in time when market needs and an organization's capabilities fit together to provide a significant opportunity is referred to as a __________.

answer

strategic window

question

Which of the following statements defines knowledge generation

answer

The process to collect and transform data into knowledge

question

First step of the marketing research process

answer

Problem definition

question

what three types of analytics transform big data into information for business use?

answer

Descriptive analysts, predictive analytics, and prescriptive analytics

question

Difference between data and information

answer

Data is uninterpreted and information is in a form useful for decision making

question

Transaction-based information system

answer

A computerized link between a firm and customers, distributors, and supplies

question

Which of the following types of analaysis procedures for big data provides performance indicators linked to marketing strategy?

answer

Descriptive analytics

question

Which of the following parts of a marketing information system collects external information for a specific decision problem?

answer

Marketing research

question

Marketing mix decisions are part of

answer

Information and decision making

question

Which of the following statements defines a marketing information system?

answer

The people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information

question

In the knowledge generation process query directly results in which of the following?

answer

Data

question

Third step of the marketing research process

answer

Exploratory research

question

All marketing decisions begin with and depend on which of the following

answer

Strategic insight

question

Which of the following parts of a marketing information system collects external information on a regular basis irrespective on any specific decision problem?

answer

Marketing intelligence

question

In the knowledge generation process in order for information to be turned into knowledge it must be exposed to which of the following?

answer

Analysis framwork

question

In the knowledge generation process knowledge directly results in which of the following?

answer

Query

question

In today's economic environment the most competitive firms succeed by developing, improving, protecting, and renewing knowledge.

answer

True

question

In the knowledge generation process data directly results in which of the following?

answer

Information

question

The understanding, or experience enabling tasks to be done with maximum efficiency and effectiveness defines which of the following terms?

answer

Knowledge

question

From where are secondary data obtained?

answer

Sources that have already gathered the data

question

Which of the following parts of a marketing information system primarily processes and analyzes data?

answer

Decision support system

question

From where are internal data obtained?

answer

-Sales force call reports -Internal product marketing managers emails

question

Which of the following parts of a marketing information system primarily collects external data?

answer

-Marketing intelligence -Marketing research

question

Which of the following is a data or information requirement for understanding stakeholders?

answer

Intermediaries

question

The marketing environment is

answer

The sum of all facts that affect a business

question

The best way for marketers to respond to action groups is to:

answer

Form meaningful relationships with them

question

Which is the most dynamic and fluid key force (or environment) of the global macroenvironment?

answer

Technological environment

question

A target market consisting of individuals born between 1946 and 1964 would be referred to as which of the following?

answer

Baby boomers

question

Marketers interact with and regularly influence which of the following?

answer

Microenvironment

question

Watchdogs' that balance the interests of the environment and people with companies' profit seeking goals are called what?

answer

Action groups

question

Which of the statements below defines a competitor analysis?

answer

The assessment of the strengths and weaknesses of current and potential competitors

question

The external forces that may prevent the company from accomplishing its objectives is the definition of which of the following?

answer

A threat

question

Last step in a competitor analysis?

answer

determining competitor's business models

question

An organization's strengths or weaknesses are composed in most part by its external environmental factors? T or F

answer

False

question

An organization's strengths or weaknesses are composed in most part by its internal environmental factors? T or F

answer

True

question

Understanding the level of involvement and the decision making process helps define which of the following with respect to some product or service?

answer

How it is bought

question

Johnson Corp. is planning to market a low-involvement purchase product. Which of the following would you expect?

answer

Consumers will make a choice about the product without a lot of effort

question

Which of the following statements defines purchase involvement?

answer

The determination of the extent of the importance or complexity and time-consuming nature of the purchase of some product or service.

question

The choice framework model plays a role in which stage of the customer decision making process?

answer

Alternatives evaluation

question

What is the second step in the consumer decision making process?

answer

Information search

question

Social factors that influence consumer behavior:

answer

-Family -Social Class -Subculture -Culture

question

Which of the following is a data or informational requirement to determine the type of customer as opposed to the type of buyer?

answer

-Demographic profile factors -Psychological motives -Age or buying motives

question

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?

answer

-Customer's community -Aspects of customer's consciousness

question

Which of the following statements defines being on code?

answer

The process to determine whether the product or service lines up with some deep rooted social (tribal) and/or psychological factor that drives consumption.

question

Which of the following is most typical of low involvement purchases?

answer

Low priced items usually fall into this category

question

The ___________ conflict occurs when a consumer desires two objectives but cannot have both

answer

Approach-Approach

question

Which of the following is most correct regarding perception?

answer

People are constantly receiving stimuli and can only process a limited number of them.

question

Three components of attitudes

answer

Cognitie, affective and behavioral

question

Which of the following statements defines generalization

answer

Making the same response to different stimuli

question

The concept of __________ is defined as the tendency to seek out of avoid information sources

answer

Selective exposure

question

People whose norms and values influence consumers' behavior, such as a company spokesperson, are called what?

answer

Reference Groups

question

Business (B2B) markets include:

answer

commercial, military, transportation and federal government.

question

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:

answer

That several people will be involved in evaluating the purchase decision

question

Which of the following is most correct about competitive bidding?

answer

It is used by organizations that want to establish long-term relationships with suppliers rather than obtain the lowest price.

question

A build up segmentation method starts with identify the characteristics of a single customer.

answer

True

question

Segmentation based on city or country is _____ segmentation.

answer

Geographic

question

As purchasers of goods and services, government markets include:

answer

-Federal governments -State governments -Local governments

question

While not required, an organization may go through up to ______ different stages in the organizational buying process.

answer

eight

question

What is the major reason that companies like General Motors and Proctor & Gamble have many brands of the same type of product?

answer

To provide brands designed to meet the needs of many different market segments

question

Information is composed of data that have been

answer

Analyzed and put in useful form

question

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?

answer

Prescriptive analytics

question

An organization's strengths or weaknesses are composed in most part by its external environmental factors?

answer

False

question

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?

answer

-Customer's community -Aspects of customer's consciousness

question

Which of the following are characteristic of a product or service that has routinized behavior?

answer

-Frequent purchase -Low involvement

question

Distinguishing product benefits from product attributes and linking the two helps define which of the following with respect to some product or service?

answer

What is bought

question

Which of the following psychological influences primarily directs the fulfillment of demand?

answer

Attitudes

question

Which of the following statements defines avoidance-avoidance conflict?

answer

occurs when consumers must choose between two undesirable alternatives

question

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?

answer

Substantial

question

The linkage of organizations involved in the creation and delivery of a product is called:

answer

Supply chain

question

A ____________ strategy is a guiding framework that identifies which aspect of demand the firm should focus on.

answer

General marketing

question

A group of firms in an industry following the same or similar strategy is referred to as a strategic group.

answer

True

question

Operational excellence is one of the alternative courses of action for demand management.

answer

False

question

Which of the following is an alternative course of action for a positioning strategy?

answer

Demand focus

question

Market segments are represented in a product map or perceptual map with which of the following?

answer

Ideal points

question

Michigan Athletic Club has identified several distinct target markets for its services and has designed separate offerings for each. This is called:

answer

Differentiated marketing

question

A Segmentation strategy (or Targeting Strategy) helps frames the marketing mix actions required to achieve the desired market position. T or F

answer

False

question

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?

answer

Concentrated marketing

question

A ____________ segmentation or targeting strategy focuses the organization's marketing mix strategy on one very small market segment that most competitors ignore.

answer

niche

question

Which of the following is decision criteria for selecting a positioning strategy?

answer

-Nature of Demand -Nature of market structure -Level of competition

question

The total market is heterogeneous. This means:

answer

Made up of many types of buyers

question

Which of the following strategic framing decisions frames or produces a guideline for who will be marketed to?

answer

Segmentation

question

Which of the following would be the primary reason for using a concentrated segmentation or targeting strategy over a differentiation segmentation or targeting strategy?

answer

Company's resources

question

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?

answer

Undifferentiated marketing

question

A _______ segmentation or targeting strategy focuses a unique marketing mix strategy to each or most of the market segments available in the market.

answer

differentiated

question

A _____ tactical marketing plan is a generic marketing program outlining the basic actions that should be taken in terms of the marketing mix.

answer

Skeleton

question

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

answer

objective

question

Which of the following is an alternative course of action for a segmentation strategy?

answer

Change product's rating on an attribute

question

Which of the following represents the appropriate sequence of the three stages marketers use to connect with customers?

answer

Segmentation, targeting, and positioning

question

Which of the following is decision criterion for both a segmentation strategy and positioning strategy?

answer

Level of competition

question

Which of the following is one of the criteria for selecting a segmentation strategy as opposed to selecting a segmentation?

answer

-Company resources -Stage in life cycle -Market behavior

question

Rating Industries uses a marketing strategy that attempts to make its products appear unique relative to the competition. Which strategy is it using?

answer

Product differentiation

question

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

answer

Staple

question

Which of the following is a criterion used to classify or determine stage in a product life cycle?

answer

-Firm's in the industry -Profit levels

question

A core product:

answer

is associated with the basic functions received in the form of a physical item or intangible service.

question

Selling to new segments, stimulating more frequent use, encouraging more use per occasion and promoting more varied use are:

answer

ways to extend the product life cycle

question

Which type of product has unique characteristics that provide unusual value to the purchaser?

answer

Specialty

question

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

answer

unsought

question

A core product with characteristics that differentiate it from similar products is called a(n):

answer

branded product

question

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

question

A product life cycle provides guidelines for a skeleton tactical marketing plan.

answer

True

question

The general marketing strategy provides part of the strategic direction for a skeleton tactical marketing plan.

answer

True

question

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

question

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

question

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

question

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

question

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

question

An augmented product has which of the following?

answer

characteristics that enhance value beyond that of core and branded products

question

Which of the following is not considered a classification of consumer products?

answer

operating

question

What are the three roles for a product in the marketing planning process?

answer

1. perform function 2. provide meaning 3. frame mix

question

At what stage of the product life cycle do sales generally grow at a slow rate?

answer

Introduction

question

Which type of product is purchased when an unexpected event takes place and the consumer has an urgent need for a product?

answer

emergency

question

Unsought products are

answer

Not thought about frequently or perceived as very necessary

question

What are the three dimensions of how marketing experts describe products?

answer

core, branded, augmented

question

According to the product life cycle, at what stage do profits begin to decline?

answer

Maturity

question

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

question

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

question

Creating new products for existing market segments is:

answer

Product development

question

Idea screening involves the gathering of suggestions for new products from a number of sources. T or F

answer

False

question

The adoption process is

answer

the 5 steps consumers go through in making a product choice: knowledge, persuasion, decision, implementation and confirmation.

question

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

question

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

question

Developing new products for new market segments is:

answer

Diversification

question

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

question

Which of the following comes earliest in new product development?

answer

Idea screening

question

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

question

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

question

_______________ 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

question

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

question

The objective of Integrated communications is to:

answer

-Provide info -Communicate value -Communicate product uniqueness -Build relationships and loyalty

question

Comparative messages:

answer

draw attention to the sponsor's brand and other brands mentioned in the message.

question

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

question

_____________is an unpaid form of communication.

answer

Public relations

question

Which of the following channel management decision involves the consideration of the universal marketing functions?

answer

Channel member selection

question

Conventional and contractual are alternative courses of action for which of the following channel management decisions?

answer

Channel organization

question

A ______ management system involves all activities concerned with the planning, implementation, and control of sourcing, manufacturing, .and delivery of a product.

answer

supply chain

question

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

question

Conventional and contractual are alternative courses of action for which of the following channel management decisions?

answer

channel organization

question

Buying, selling, and risk are _____________ universal marketing functions

answer

transactional

question

A conventional channel organization consists of organizations with informal relationships which tie them together. T or F

answer

False

question

Which of the following channel management decision impacts the organization's coverage?

answer

-Channel organization -Channel Structure -Channel intensity

question

Exclusive and selective are alternative courses of action for which of the following channel management decisions?

answer

channel intensity

question

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

question

Grading and financing are ___________ universal marketing functions

answer

Facilitating

question

Which of the following channel management decision impacts the organization's competencies or connectivity?

answer

-Channel member selection -channel management

question

Which of the following channel organizations provide the marketer the most control?

answer

Franchise

question

Reverse and multiple are alternative courses of action for which of the following channel management decisions?

answer

Channel structure

question

What type of distribution channel is being implemented when companies use their own employees and physical assets to serve the market?

answer

Direct channel

question

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

question

Which of the following is an area where the product design product decision impacts value creation?

answer

Directly impacts form utility through benefits provided

question

In which of the following types of marketing does the customer value experiences?

answer

-Place marketing -Event marketing -Content marketing

question

Which of the following service classification would have greatest price sensitivity?

answer

-Self service equipment-based service

question

Experiences that are consumed during delivery are

answer

Almost pure services

question

Which of the following is one of the purposes of the brand decision?

answer

Storing Goodwill

question

Which of the following identifies the five dimensions of brand equity?

answer

brand awareness, brand loyalty, perceived quality, brand associations, competitive advantage

question

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.

question

The growth in entrepreneurship is one of the factors driving the tremendous growth in direct marketing?

answer

True

question

Transfer prices are:

answer

The amount a company charges its foreign affiliate for a product.

question

Which of the following is a match?

answer

Best total solution --> customer intimacy

Marketing 327 Final Exam – Flashcards

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