question

1. Today marketing must be understood in terms of not just making a sale but also ____________.

answer

Satisfying customers' needs

question

2. The societal marketing concept seeks to establish a balance between consumer short-run wants and society's ________.

answer

Long-run welfare

question

3. The marketing manager at Sunshine Car Washes is holding a training session for new employees. She stresses that perhaps the most most important concept of modern marketing is _____________.

answer

Customer relationship management.

question

4. It is acceptable to have products in which of the following BCG categories

answer

stars, cash cows, question marks

question

5. A common practice among marketers is to increase sales to current cu...... changing their products. What is this practice called?

answer

market penetration.

question

6. A common practice among marketers is to identify and develop new markets for existing products. This practice is called ___________.

answer

market development.

question

7. A major reason that more companies are participating with other members of the ________ is to improve the performance of the customer value delivery network.

answer

supply chain

question

8. Marketing strategy identifies the _______ and divides it into smaller ____________.

answer

market; segments.

question

9. What is the order of doing so?

answer

market segmentation, target marketing, market positioning

question

10. According to you textbook, companies today cannot profitably never ___________.

answer

All consumers is a given market and all foreign markets.

question

11. Once your company has decided on its overall competitive marketing strategy, it is best to begin planning the details of its ____________.

answer

marketing niche

question

12. Which SBU produces a lot of cash that the company may use to support other SBUs that need investment?

answer

stars

question

12. TelStar Plastics is in the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behavior who might require separate products or marketing programs. Which is the firm doing?

answer

market segmentation

question

14. Your advertising agency is currently researching the gender, education, location, age, and occupations of your target market. What kind of research is this called?

answer

demographic

question

15. What movement has spawned the marketer's awareness of environmentally sustainable strategies?

answer

green movement

question

16. You are directed to study the factors that are larger societal forces that affect your company - demographic, economic, natural, technological, political, and cultural. What are you studying?

answer

the external or macroenvironment

question

17. In what way(s) might the Florida Citrus Growers Association rely on marketing intermediaries?

answer

to provide speed in delivery to consumers, to package the fruit, to assist with promotional effects, to perform in the overall value delivery system

question

18. Which of the following was NOT mentioned in your textbook as a source of marketing intelligence?

answer

checking for new goodwill

question

19. Maslow's theory is that human needs are arranged in a __________ from the most pressing at the bottom to the least pressing at the top.

answer

hierarchy

question

20. Almost all major purchases result in __________, or discomfort caused by postpurchase conflict.

answer

cognitive dissonance

question

21. George is buying his first house. He has found two houses that he thinks he likes. He is highly involved in the purchase and perceives significant differences beween these two houses. George will likely undertake______________.

answer

complex buying behavior.

question

22. In a typical organization, buying activity consists of two major parts: the buying ________ and the buying _______________.

answer

deciders; influencers

question

23. There are three major types of business buying. They include each of the following EXCEPT _____________.

answer

reversed rebuy

question

24. Al of the following are typical reasons to follow a policy of using multiple source of suppliers except ____________.

answer

none of the above, they are all good reasons: to avoid being totally dependent on one supplier, to allow comparison of prices over time, to allow comparison of performance over times, to find the closest supplier.

question

25. The Pure Drug Company produces insulin, whose demand is not affected much by price changes, especially in the short run. Products such as insulin have what type of demand.

answer

inelastic

question

26. The four Os may __________.

answer

Provide marketing stimuli for the consumer market, provide marketing stimuli for the business market, be critical in stimulating buyer response.

question

27. David Herr finds himself going through all the stages of the buying process. He is most likely involved in a _____________ situation.

answer

new task buying.

question

28. Income segmentation is used to target the _______________.

answer

affluent, middle class, lower income class

question

29. In general a company should enter only segments in which it can _____________ and _________.

answer

offer superior value, gain advantages over competitors.

question

30. For which of the following products would you be most likely to recomment income based segmentation?

answer

automobiles, financial services

question

31. ____________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.

answer

Line extensions.

question

32. _____________ are consumer products and service with unique characteristics or identifcation for which a significant group of buyers is willing to make a special purchase effort.

answer

Speciality products.

question

33. Most retailers face a plethora of brands and a limited amount of shelf space, lending to demands for _______ before they will accept new products for their shelves.

answer

Slotting fees

question

34. One risk of ________ is that sales may come at the expense of other items in the line. It works best when it takes sales away from competing brands.

answer

Line extension.

question

35. __________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

answer

Service intangibility.

question

36. Purine Dog Chow sells more than the same size store brand dog food even though the store brand dog food costs $0.50 less per bag. This is known as brand _________.

answer

equity.

question

37. Companies often introduce additional brands in the same category. What is this called?

answer

multibranding

question

40. In Kemah a dozen store specialize in selling the same quality fish on one street. An individual store dare not charge more than the going price without losing business to other stores selling fish at a common price. This is an example of what type of market?

answer

pure competition

question

41. Under ________, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price.

answer

monopolisitc competition

question

42. The relationship between the price charged and the demand level can be shown as _____.

answer

Variable cost.

question

43. Consumer perceptions of the product's value set the _________ for the price.

answer

Ceiling

question

44. Lawyers, accountants, and other professionals typically price by addins a stand markup for profit. This is known as __________.

answer

Cost-plus pricing.

question

45. Rather than basing the price of a product on the seller's costs, this method uses buyers' perceptions of what a product is worth.

answer

Value-based pricing

question

46. A company building its pricing strategy around the experience curve would typically:

answer

Price its products high

question

47. Ecstasy Pharmeceuticals fixed costs with their new drug $1,000,000. The company selld the drug in bottles of 50 pills for $10.00. They estimate that they must sell 200,000 bottles to break even. What is the total cost to produce a bottle of 50 pills?

answer

$5.00

question

50. Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and __________.

answer

market-skimming pricing

question

51. For market-penetration pricing to work all of the following conditions exist EXCEPT _________.

answer

the product must be price inelastic

question

52. Which of the following condition should exist for segmented pricing to be effective?

answer

The market must be able to be segmented, the segments must show different degrees of demand, competitors can't undersell in the segment being changed in higher price.

question

56. If Wal-Mart engaged in selling numerous items below cost to punish small competitors and potentially put them out of business, Wal-Mart would be guilty of _______.

answer

predatory pricing

question

57. Among the following, which statement would NOT support a market-skimming policy for a new product?

answer

Competitors can enter the market easily.

question

58. All of the following are key functions that intermediaries play in helping to fulfill completed transaction EXCEPT _________.

answer

product assessment

question

59. A recent major trend, whereby produucers are bypassing intermediaries and going directly to final buyers, or radically new types of channel intermediaries are emerging to traditional ones is referred to as ____________.

answer

disintermediation

question

61. All of the following are reasons why companies use -third party logistics providers:

answer

it is more efficient to use them in many cases, they can perform the services at less cost, the company is free to focus more on its core business. Not because the ICC and federal government are beginning to mandate and regulate some industries.

question

62. Chewing gum is stocked in many outlets in the same market of community; in fact, it is placed in as many outlets as possible. This is an example of _______ distribution.

answer

intensive

question

63. This type of distribution is often used by television, furniture, and home appliance brands.

answer

Selective

question

64. Which of the following is an example of a multichannel distribution system?

answer

J.C. Penney's catalog and retail store sales.

question

65. _________ have been squeezed between focused, flexible specialty store on one band efficient, low-priced discounters on the other. Service remains their key differentiation.

answer

Department Stores.

question

66. Wholesalers add value by performing channel functions. Channel function includes ______.

answer

selling/promoting, buying/assortment building, bulk-breaking.

question

67. _____________ and ______________ differ from merchant wholesalers in two ways: they do not take title to goods and they perform only a few functions.

answer

Brokers; agents.

question

68. In-store demonstrations, displays, contests, and visiting celebrities are examples of __________.

answer

sales promotions.

question

69. Common examples of _________ are press conference and speeches, store openings, special events, newsletters, magazines, and public service.

answer

public relations

question

70. The major promotion tool that includes catalogs, telephone marketing, kiosks, internet, and more is called __________.

answer

direct marketing.

question

71. ________ includes store displays, premiums, discounts, coupons, and demonstrations.

answer

Sales promotion

question

72. Companies are adopting the concept of _________, which integrates and coordinates communication channels to deliver consistent, compelling product messages.

answer

integrated marketing communications

question

73. The marketing communicator must _______ the consumer's field of experience.

answer

understand

question

74. For a message to be effective, the sender's _________ process must mesh with the receiver's __________.

answer

encoding, decoding

question

75. The ________budget setting method is the most logical method. It deals more with specific promotion goals and accomplishments.

answer

objective-and-task

question

77. Which situation(s) likely occur (s) with a push strategy?

answer

Use of intermediaries

question

78. When the objective is to build primary demand, such as when introducing a new category, _____ is used heavily.

answer

informative advertising

question

79. ___________ becomes more important as competition increases.

answer

persuasive advertising

question

80. Before an ad is placed, the advertiser can show it consumer to determine all of the following effects :

answer

to ask how they like it, recall, attitude change. Not sales effects.

question

82. Benefits of billboards as as advertising medium include the Following:

answer

flexibility, high repeat exposure, low message competition, low cost. Not ability to deliver a complex message.

question

83. The limitations of radio as an advertising medium include all of the following:

answer

Audio only, fleeting exposure, low attention, and fragmented audiences. Not: high cost.

question

84. A product in the late maturity or decline stage is most likely to request advertising.

answer

reminder.

question

85. Fence Patrol is considering an international advertising campaign they want all of the following problems:

answer

They do not want any of the problems: varying media cost, varying media availability, varying regulation, and illegal products.

Marketing: Mid-Term Questions – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards