question

One argument for protectionism is that it

answer

helps defend a nation's political security.

question

Tariffs serve primarily to

answer

raise prices on imports.

question

__________ decides on trade disputes between members across the world, and issues binding decisions.

answer

the WTO

question

__________ has resulted in more open borders, allowing French tire maker Michelin to close 180 of its European distribution centers and it now uses just 20 to serve all EU countries.

answer

the EU

question

Proctor & Gamble markets its popular multipurpose cleaner as Mr. Clean in North America and Asia but uses several different brand names like Maestro Limpio and Mr. Proper in other parts of the world. These differences arise because P&G is a(n) __________ firm.

answer

multinational

question

Which of the following statements about global brands is most accurate?

answer

A global brand uses the same product formulation or service concept across multiple countries and cultures.

question

The fact that American women use more cosmetics than American men while French men use twice as many cosmetics as French women is an example of differences in the nations'

answer

customs

question

Once a company has decided to enter the global marketplace, it must select a means of market entry. As the firm moves from exporting to direct investment, the amount of financial commitment, risk, marketing control, and profit potential__________.

answer

increases

question

Governments such as China's may require or strongly encourage a(n) __________ before it allows a foreign company to enter its market.

answer

joint venture

question

When companies price their products very high in some countries but competitively in others, they face which problem?

answer

a gray market

question

Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and __________.

answer

recommending actions

question

The first step in the five-step marketing research approach is to

answer

define the problem

question

In marketing research, the research objectives are the __________ goals of the decision maker.

answer

specific and measurable

question

In a marketing decision, __________ are likely to be restrictions on the time and money available to solve the problem.

answer

constraints

question

A company is interested in producing self-stick decorative posters. It selects a representative sample of middle school students who currently have one or more standard posters on their walls. After interviewing them and collecting other relevant data, the firm then makes generalizations about what all middle school students want in their posters. The method used is

answer

statistical inference

question

When a marketing researcher uses a collection of reports, customer letters, financial statements, and surveys from different departments within her firm, she is using

answer

internal secondary data

question

Which of the following is a form of secondary data?

answer

company sales reports

question

An advantage of using a panel for marketing research is

answer

researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.

question

The last step in the marketing research approach is to

answer

take marketing actions

question

Asking the firm's salespeople to estimate sales during a coming period is referred to as

answer

a salesforce survey forecast.

question

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as a(n)

answer

product

question

Which of the following is considered a durable good?

answer

a lamp

question

Services are

answer

intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.

question

Consumer products are classified based on the: (1) attributes used in making the purchase decision; (2) frequency of purchase; and (3)

answer

effort the consumer spends on the decision

question

Products that the consumer does not know about or knows about but does not initially want are referred to as

answer

unsought products

question

When a manager at Target announced to customers, "There is no wait in checkout lanes 2 and 5," he recognized a need to manage his

answer

idle production capacity

question

Which of the following products at the time of their introduction was the best example of a continuous innovation?

answer

Blu-Ray player

question

Ideally, before a new product is developed, a firm should have a precise protocol, which is a statement that identifies: (1) what the product will be and do to satisfy consumers; (2) specific customers' needs, wants, and preferences; and (3) __________.

answer

a well-defined target market

question

Research shows that __________ is the single most important factor for a new product to defeat competitive ones—having superior characteristics that deliver unique benefits to the user.

answer

a distinctive point of difference

question

In the new-product development process, the __________ stage involves specifying the product features and marketing strategy along with making financial projections needed to bring it to market.

answer

business analysis

question

All products sold by the Tabasco Company use the Tabasco brand. This is an example of __________.

answer

multiproduct branding

question

When selecting a brand name, it should: (1) suggest product features; (2) be memorable, distinctive and positive; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) __________; and (6) have favorable phonetic and semantic associations in other languages.

answer

be simple and emotional

question

__________ begins with new-product purchases first by innovators, and then by early adopters.

answer

Diffusion of innovation

question

Profit margins often peak as competitors enter the market and aggressive pricing strategies take hold. This happens during which stage of the product life cycle?

answer

growth

question

Profit margins often peak as competitors enter the market and aggressive pricing strategies take hold. This happens during which stage of the product life cycle?

answer

growth stage

question

When a brand name cannot be spoken, it is considered a __________.

answer

logo

question

An extended introduction stage of the product life cycle occurs for which type of product?

answer

high-learning

question

Skimming or penetration pricing are appropriate pricing strategies during the __________ stage of a product's life cycle.

answer

introduction

question

The seven Ps of services refer to an expanded marketing mix for services that includes the four Ps (product, price, place, and promotion) as well as

answer

people, physical environment, process

question

Harvesting is an option for a product in the __________ stage of its product life cycle.

answer

decline

question

Integrated marketing communications (IMC) is

answer

the concept of designing marketing communications programs that coordinates all promotional activities to provide a consistent message across all audiences.

question

For a message to be communicated effectively, the sender and receiver must have a mutually shared __________.

answer

field of experience

question

Mass selling refers to

answer

advertising, sales promotions, and public relations activities that are used with groups of prospective buyers.

question

At which stage in the product life cycle would a company's promotional objective most likely be to increase the level of consumer awareness?

answer

introduction

question

Cake mix is in the maturity stage of its product life cycle. A manufacturer selling cake mixes would most likely use advertising to

answer

remind buyers of the marketer's and its brand's existence.

question

What is the promotional objective of the decline stage of the product life cycle?

answer

phase out

question

Which of the following occurs during the planning stage of the promotion decision process?

answer

set the budget

question

After reading the daily newspaper, the restaurant owner of Zefferelli's Tower of Pizza said, "I see that the owner of Fellini's House of Noodles ran a quarter-page ad in today's paper. We'll have to match his efforts by running our own ad the day after tomorrow." Based on this statement, what promotional budgeting technique is the Zefferelli's restaurant owner most likely using?

answer

competitive parity budgeting

question

Which of the following statements regarding direct marketing is most accurate?

answer

Many customers believe direct marketing saves time, is entertaining, and offers privacy.

question

Factors such as the need for improved reliability and security in postal systems and new government regulations represent important challenges for __________ in the global market.

answer

direct marketing

question

Comparative advertising is one form of __________ advertising.

answer

competitive

question

Which of the following is a potential problem when using humorous appeals in advertising?

answer

Humor tends to wear out quickly, boring the consumer.

question

Reach refers to

answer

the number of different people or households exposed to an advertisement.

question

One of the disadvantages associated with television as an advertising medium is that it

answer

has a perishable message

question

Which of the following statements regarding newspaper as an advertising medium is most accurate?

answer

National ad campaigns for major advertisers like P&G rarely use newspapers unless it is in conjunction with local distributors of their products, such as when they use cooperative advertising.

question

Click fraud refers to

answer

the deceptive clicking of ads solely to increase the amount advertisers must pay.

question

Continuous scheduling would most likely be used for advertising __________.

answer

chewing gum

question

Using radio ads in one market and television ads in another and comparing the results is a form of __________.

answer

sales test

question

For marketers, the primary objective of a premium is to

answer

encourage customers to return frequently or to use more of the product.

question

National sales meetings sponsored by the manufacturer and field visits to a reseller's location to inform and motivate salespeople to sell the products are considered forms of

answer

salesforce training

MKT 291 Exam 2 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards