question

________ is the sum of all the values that customers give up to gain the benefits of having

answer

price

question

The first Target store opened in 1962. Its initial strategy was to set prices low to attract more customers and gain a large market share. This is referred to as

answer

market-penetration strategy

question

break-even analysis

answer

it fails to consider customer value and the relationship between price and demand

question

when establishing prices, its important to understand that "good value" is not the same as

answer

low price

question

the first generation apple iPod was introduced in 2001 and sold for $500. Apple used a _______ strategy to price their digital music innovation

answer

market-skimming

question

Lovely Skin

answer

cost-plus

question

which of the following sets the upper limit for a product's pricing

answer

consumer perceptions of value

question

unlike the other marketing mix elements, price plays a minor role in creating customer value t/f

answer

false

question

a _____ pricing strategy for an offering begins with an assessment of customers needs and perceptions and creates a set based on customer perceptions of worth

answer

value-based

question

establishing prices for razor blades that must be used with a razor blade system is known as ______

answer

captive product

question

Dynamic pricing is particularly suitable for internet-based companies like Amazon t/f

answer

true

question

when demand hardly changes with a small change in the price of a product

answer

inelastic

question

some companies deemphasize the price and use other marketing mix tools to create non-price positions t/f

answer

true

question

Salon Du Joir

answer

product bundle

question

product bundle

answer

offering several products together

question

_______ pricing involves setting prices based on the expenses involved in producing, distributing, and earning a fair rate of return for the company's efforts and risk

answer

cost-based

question

most producers sell their goods directly to consumers t/f

answer

false

question

intensive distribution strategy

answer

it strives to make products available where and when consumers want them

question

vertical marketing system

answer

it has one channel member owning all the other channel members

question

more than 80 percent of McDonalds restaurants worldwide are owned and operated by a ______ marketing system

answer

contractual vertical

question

multichannel distribution system

answer

uses several channels to move the product

question

Victoria's Closet

answer

multichannel distribution system

question

the goal of any logistics system should be to maximize sales, not profit t/f

answer

false

question

Kevin Pinker

answer

Abundon

question

Introducing intermediaries into a distribution chain increases the number of direct channel transactions

answer

false

question

Changes in technology and the explosive growth of direct and online marketing are having a profound impact on the design of marketing channels. One major trend is toward _______ which is to bypass intermediaries and sell directly to final buyers

answer

disintermediation

question

what is true of a conventional distribution channel

answer

it has each channel member acting as a separate business unit trying to maximize

question

a channel arrangement in which two or more companies at one level come together

answer

horizontal marketing system

question

a ______ is made up of a company, its suppliers distributors, and, ultimately, customers

answer

value-delivery network

question

what is an upstream partner

answer

a firm that provides technical expertise in the production of a product

question

Managing upstream and downstream value-added flows of materials, final goods, and much more is known as

answer

supply chain management

question

high end luxury brands usually have this kind of distribution network

answer

exclusive

question

_______ creates a seamless cross-channel buying experience

answer

omni-channel marketing

question

grace and her fiance

answer

showrooming

question

showrooming

answer

visiting a store to see the product but buying it online anyways

question

charging higher prices on an everyday basis, coupled with frequent sales....

answer

high-low

question

service retailers in the united states are growing faster than product retailers t/f

answer

true

question

Food Galore is a regional chain of supermarkets in the Midwest

answer

self-service retailer

question

self-service retailer

answer

allows the customers to go and pick what they want

question

Casey's is a large supermarket that practices everyday low pricing t/f

answer

true

question

as with other types of marketing, a primary goal in wholesaling is to

answer

build value-adding customer relationships

question

retailers must decide on three major product variables: product assortment, service, and _______

answer

store atmosphere

question

Jones & Company

answer

department store

question

department store

answer

a large store offering a variety of goods in a variety of departments

question

_____ refers to the activities involved in selling products or services directly to customers for non-business use

answer

retailing

question

trends in wholesaling

answer

the demand for lower prices and higher quality has increased

question

______ includes all of the activities involved in selling goods and services to those who need products for business use

answer

wholesaling

question

impact of the Great Recession on marketing trends

answer

tighter consumer spending patterns

question

The American Tie Company, a necktie retailer, offers a deep assortment of ties

answer

specialty store

question

true of retailing

answer

services like hotels, banks, airlines, restaurants, colleges, and hospitals can........

question

ColaBlue public relations

answer

holding a press conference

question

in a marketing communication mix, ______ refers to any short-term incentive that encourages the purchase or sale of a product or service

answer

sales promotion

question

example of combination of sales promotion and direct marketing

answer

a company gives discounts on their product prices in order to gain a brand image

question

what is true of direct and digital marketing

answer

it is suited for highly targeted marketing efforts

question

push strategy

answer

pushing your product to sellers who then sell to customers

question

_______ is any paid form of non personal presentation and promotion of ideas, goods, or services

answer

advertising

question

what is true of advertising in the new marketing communications model

answer

advertisers are increasingly shifting toward digital needs

question

difference between advertising and sales promotion

answer

advertising = long term image sales promotion = short term

question

according to the text, the most logical budget-setting method in advertising is the _______ method

answer

objective and task

question

what is true of consumers in the new marketing communications model

answer

they are better equipped to find product and brand information on their own

question

what is true of marketing strategies that are being developed in the new marketing communications model

answer

they are more targeted, social, and engaging

question

the term "Madison and Vine"

answer

merging advertising with entertainment

question

Window Concepts

answer

public relations

question

what is a function of an integrated marketing communications system

answer

delivering a clear, consistent, and compelling message on the product to each brand contact

question

Rather than just creating and placing "TV adds" or "print ads", many marketers are now go to

answer

content marketing

question

what is the last step in the selling process

answer

follow-up

question

how have social media tools most likely affected personal selling

answer

reducing the number of person-to-person efforts

question

characteristic of an inside sales force

answer

it conducts business from an office

question

which is true about a sales force in the field

answer

they build relationships with customers through face-to-face interaction

question

Harry Potts

answer

approach

question

Millie Foods

answer

allowance

question

allowance

answer

reduction in the selling price of a good (same as discount)

question

which is true of salespeople

answer

they represent a company to its customers by communicating and selling

question

in consumer product companies such as P&G or Nike, the sales force works directly with customers t/f

answer

false

question

Cracker Jack

answer

premium

question

premium

answer

a promotional item given such as toy or collectible

question

sales promotions constitute the interpersonal arm of the promotion mix t/f

answer

false

question

sales promotion tools sed to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to consumers are collectively called _____ promotions

answer

trade

question

which is true about consumer promotions

answer

they include a wide range of tools like samples, coupons, and refunds

question

Wisconsin Cheddar

answer

point-of-purchase promotions

question

point-of-purchase promotions

answer

found near the checkout counter

question

in today's digital, mobile, and social media environments, many buyers are more receptive to-or even prefer- phone or online contact versus high level of face-to-face contact t./f

answer

true

question

Karen Rodgers is a salesperson for Solar Panels Inc

answer

prospecting

question

Eric Dylan

answer

direct-mail marketing

question

which aspect of niche online social networking makes the medium most appealing to marketers

answer

they cater to the needs of small communities of like-minded individuals

question

which of the following account for the largest portion of firms online advertising spending?

answer

display and search-related advertisements

question

Online visitors can't buy anything at ESPN.com

answer

branded community website

question

how has the internet most likely affected direct and digital marketing

answer

the expenditures on direct and digital marketing have increased

question

which of the following is a traditional direct marketing tool

answer

catalog

question

which of the following is generally regarded as the toughest issue of public policy

answer

invasion of consumer privacy

question

_______ refers to marketing via the Internet

answer

online marketing

question

the growth of the internet caused many traditional companies to _________ in response to customer demands and a changing marketplace

answer

use omni-channel retailing

question

_______ can provide on-the-go product information

answer

mobile marketing

question

which is true of direct and digital marketing

answer

they build customer engagement and constitute a complete model for doing business

question

for most companies, the first step in conducting online marketing is to ______

answer

create a web-site

question

______ marketing involves engaging directly with carefully targeted individual consumers

answer

direct and digital

question

which is true of direct and digital marketing

answer

they provide buyers with anytime, anywhere access to products

question

which is most likely true about the digital age with regards to marketing

answer

digital networks allow marketers many ways to build customer relationships

question

in managing their international marketing activities, most companies first _____

answer

organize and export department

question

a country's _____ shapes its product and service needs, income levels, and employment levels

answer

industrial structure

question

which of the following is most likely true about a global organization

answer

worldwide policies are planned by top corporate management

question

compared to standardized global marketing, adapted global marketing

answer

modifies marketing strategies to meet local needs

question

when adapting advertising messages, media may also need to be adapted internationally because media availability and regulations vary from country to country. This illustrates

answer

communication adaptation

question

Many organizations no longer have a clearly defined home market, nor do they have home-office staffs. They are truly

answer

global organizations

question

companies often form ______ ventures to merge their complementary strengths in developing a global marketing opportunity

answer

joint ownership

question

which is most likely true of a global firm

answer

a global firm sees the world as many different markets

question

providing a host-country partner the right to use a company's manufacturing process, trademark, patent, or other thing is referred to as ______

answer

licensing

question

the simplest way to enter a foreign market is through

answer

exporting

question

Veggie Delight

answer

product adaptation

question

most international companies strive to adapt global brands to local needs t/f

answer

true

question

_____ is a method of entering a market by associating with foreign companies to produce or market products or services

answer

joint venturing

question

Chips of Joy

answer

standardized global

question

the two major citizen action movements

answer

consumerism and environmentalism

question

some companies intentionally manufacture their products with materials that will easily wear or break, this is practice is called

answer

planned obsolescence

question

the nation's poor areas have 30 percent fewer supermarkets than do affluent areas. As a result, many low-income consumers find themselves

answer

in food desserts

question

what do most companies today focus on when it comes to protecting the environment

answer

investing heavily in pollution prevention

question

Lakeland Inc employees

answer

sense-of-mission

question

innovative marketing most likely involves

answer

seeking real product and marketing improvements

question

when a company makes marketing decisions by considering consumers' wants and needs, this is

answer

consumer-oriented marketing

question

critics who assert that the marketing system promotes too much interest in material possessions are most likely concerned that the result of successful marketing will be

answer

unsustainable overconsumption

question

critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers most likely respond to this criticism by arguing that advertising

answer

adds value by giving consumers product information

question

People who buy magazines that they like don't mind ads because they involve products or services of interest. This is counter to the claim of

answer

cultural pollution

question

a class-action lawsuit was brought against a national burger chain, charging that its food contributed to the nationwide obesity epidemic. These critics claim that the fast food industry is ____

answer

selling harmful products

question

a common criticism of the marketing system is that intermediaries

answer

mark up prices beyond the value of their services

question

______ marketing calls for socially and environmentally responsible actions

answer

sustainable

question

which sustainable marketing principal emphasizes building long-run consumer engagement, loyalty, and relationships

answer

customer-value marketing

question

while the societal marketing concept considers the future welfare of consumers and the sustainable marketing concept considers future company needs, the strategic planning concept considers both t/f

answer

true

Marketing Chapter Quizzes 9-16 – Flashcards

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