Marketing Chapter Quizzes 9-16 – Flashcards
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the first generation apple iPod was introduced in 2001 and sold for $500. Apple used a _______ strategy to price their digital music innovation
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market-skimming
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Lovely Skin
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cost-plus
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which of the following sets the upper limit for a product's pricing
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consumer perceptions of value
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unlike the other marketing mix elements, price plays a minor role in creating customer value t/f
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false
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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
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value-based
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establishing prices for razor blades that must be used with a razor blade system is known as ______
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captive product
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Dynamic pricing is particularly suitable for internet-based companies like Amazon t/f
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true
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when demand hardly changes with a small change in the price of a product
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inelastic
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some companies deemphasize the price and use other marketing mix tools to create non-price positions t/f
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true
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Salon Du Joir
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product bundle
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product bundle
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offering several products together
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_______ 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
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cost-based
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most producers sell their goods directly to consumers t/f
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false
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intensive distribution strategy
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it strives to make products available where and when consumers want them
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vertical marketing system
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it has one channel member owning all the other channel members
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more than 80 percent of McDonalds restaurants worldwide are owned and operated by a ______ marketing system
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contractual vertical
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multichannel distribution system
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uses several channels to move the product
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Victoria's Closet
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multichannel distribution system
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the goal of any logistics system should be to maximize sales, not profit t/f
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false
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Kevin Pinker
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Abundon
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Introducing intermediaries into a distribution chain increases the number of direct channel transactions
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false
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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
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disintermediation
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what is true of a conventional distribution channel
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it has each channel member acting as a separate business unit trying to maximize
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a channel arrangement in which two or more companies at one level come together
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horizontal marketing system
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a ______ is made up of a company, its suppliers distributors, and, ultimately, customers
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value-delivery network
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what is an upstream partner
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a firm that provides technical expertise in the production of a product
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Managing upstream and downstream value-added flows of materials, final goods, and much more is known as
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supply chain management
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high end luxury brands usually have this kind of distribution network
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exclusive
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_______ creates a seamless cross-channel buying experience
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omni-channel marketing
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grace and her fiance
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showrooming
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showrooming
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visiting a store to see the product but buying it online anyways
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charging higher prices on an everyday basis, coupled with frequent sales....
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high-low
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service retailers in the united states are growing faster than product retailers t/f
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true
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Food Galore is a regional chain of supermarkets in the Midwest
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self-service retailer
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self-service retailer
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allows the customers to go and pick what they want
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Casey's is a large supermarket that practices everyday low pricing t/f
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true
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as with other types of marketing, a primary goal in wholesaling is to
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build value-adding customer relationships
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retailers must decide on three major product variables: product assortment, service, and _______
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store atmosphere
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Jones & Company
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department store
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department store
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a large store offering a variety of goods in a variety of departments
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_____ refers to the activities involved in selling products or services directly to customers for non-business use
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retailing
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trends in wholesaling
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the demand for lower prices and higher quality has increased
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______ includes all of the activities involved in selling goods and services to those who need products for business use
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wholesaling
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impact of the Great Recession on marketing trends
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tighter consumer spending patterns
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The American Tie Company, a necktie retailer, offers a deep assortment of ties
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specialty store
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true of retailing
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services like hotels, banks, airlines, restaurants, colleges, and hospitals can........
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ColaBlue public relations
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holding a press conference
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in a marketing communication mix, ______ refers to any short-term incentive that encourages the purchase or sale of a product or service
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sales promotion
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example of combination of sales promotion and direct marketing
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a company gives discounts on their product prices in order to gain a brand image
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what is true of direct and digital marketing
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it is suited for highly targeted marketing efforts
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push strategy
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pushing your product to sellers who then sell to customers
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_______ is any paid form of non personal presentation and promotion of ideas, goods, or services
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advertising
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what is true of advertising in the new marketing communications model
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advertisers are increasingly shifting toward digital needs
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difference between advertising and sales promotion
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advertising = long term image sales promotion = short term
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according to the text, the most logical budget-setting method in advertising is the _______ method
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objective and task
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what is true of consumers in the new marketing communications model
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they are better equipped to find product and brand information on their own
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what is true of marketing strategies that are being developed in the new marketing communications model
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they are more targeted, social, and engaging
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the term "Madison and Vine"
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merging advertising with entertainment
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Window Concepts
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public relations
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what is a function of an integrated marketing communications system
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delivering a clear, consistent, and compelling message on the product to each brand contact
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Rather than just creating and placing "TV adds" or "print ads", many marketers are now go to
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content marketing
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what is the last step in the selling process
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follow-up
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how have social media tools most likely affected personal selling
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reducing the number of person-to-person efforts
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characteristic of an inside sales force
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it conducts business from an office
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which is true about a sales force in the field
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they build relationships with customers through face-to-face interaction
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Harry Potts
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approach
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Millie Foods
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allowance
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allowance
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reduction in the selling price of a good (same as discount)
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which is true of salespeople
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they represent a company to its customers by communicating and selling
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in consumer product companies such as P&G or Nike, the sales force works directly with customers t/f
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false
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Cracker Jack
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premium
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premium
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a promotional item given such as toy or collectible
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sales promotions constitute the interpersonal arm of the promotion mix t/f
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false
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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
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trade
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which is true about consumer promotions
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they include a wide range of tools like samples, coupons, and refunds
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Wisconsin Cheddar
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point-of-purchase promotions
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point-of-purchase promotions
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found near the checkout counter
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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
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true
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Karen Rodgers is a salesperson for Solar Panels Inc
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prospecting
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Eric Dylan
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direct-mail marketing
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which aspect of niche online social networking makes the medium most appealing to marketers
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they cater to the needs of small communities of like-minded individuals
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which of the following account for the largest portion of firms online advertising spending?
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display and search-related advertisements
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Online visitors can't buy anything at ESPN.com
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branded community website
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how has the internet most likely affected direct and digital marketing
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the expenditures on direct and digital marketing have increased
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which of the following is a traditional direct marketing tool
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catalog
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which of the following is generally regarded as the toughest issue of public policy
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invasion of consumer privacy
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_______ refers to marketing via the Internet
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online marketing
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the growth of the internet caused many traditional companies to _________ in response to customer demands and a changing marketplace
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use omni-channel retailing
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_______ can provide on-the-go product information
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mobile marketing
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which is true of direct and digital marketing
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they build customer engagement and constitute a complete model for doing business
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for most companies, the first step in conducting online marketing is to ______
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create a web-site
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______ marketing involves engaging directly with carefully targeted individual consumers
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direct and digital
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which is true of direct and digital marketing
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they provide buyers with anytime, anywhere access to products
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which is most likely true about the digital age with regards to marketing
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digital networks allow marketers many ways to build customer relationships
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in managing their international marketing activities, most companies first _____
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organize and export department
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a country's _____ shapes its product and service needs, income levels, and employment levels
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industrial structure
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which of the following is most likely true about a global organization
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worldwide policies are planned by top corporate management
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compared to standardized global marketing, adapted global marketing
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modifies marketing strategies to meet local needs
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when adapting advertising messages, media may also need to be adapted internationally because media availability and regulations vary from country to country. This illustrates
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communication adaptation
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Many organizations no longer have a clearly defined home market, nor do they have home-office staffs. They are truly
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global organizations
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companies often form ______ ventures to merge their complementary strengths in developing a global marketing opportunity
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joint ownership
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which is most likely true of a global firm
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a global firm sees the world as many different markets
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providing a host-country partner the right to use a company's manufacturing process, trademark, patent, or other thing is referred to as ______
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licensing
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the simplest way to enter a foreign market is through
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exporting
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Veggie Delight
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product adaptation
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most international companies strive to adapt global brands to local needs t/f
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true
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_____ is a method of entering a market by associating with foreign companies to produce or market products or services
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joint venturing
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Chips of Joy
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standardized global
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the two major citizen action movements
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consumerism and environmentalism
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some companies intentionally manufacture their products with materials that will easily wear or break, this is practice is called
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planned obsolescence
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the nation's poor areas have 30 percent fewer supermarkets than do affluent areas. As a result, many low-income consumers find themselves
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in food desserts
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what do most companies today focus on when it comes to protecting the environment
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investing heavily in pollution prevention
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Lakeland Inc employees
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sense-of-mission
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innovative marketing most likely involves
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seeking real product and marketing improvements
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when a company makes marketing decisions by considering consumers' wants and needs, this is
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consumer-oriented marketing
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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
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unsustainable overconsumption
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critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers most likely respond to this criticism by arguing that advertising
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adds value by giving consumers product information
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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
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cultural pollution
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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 ____
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selling harmful products
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a common criticism of the marketing system is that intermediaries
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mark up prices beyond the value of their services
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______ marketing calls for socially and environmentally responsible actions
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sustainable
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which sustainable marketing principal emphasizes building long-run consumer engagement, loyalty, and relationships
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customer-value marketing
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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
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true
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