question

Many large retailers sell both a private brand and a manufacturer's brand, which are produced by the same manufacturer. T/F

answer

True

question

What method of transportation accounts for the majority of finished goods finding their way to consumers? a. water b. railroads c. trucks d. air freight

answer

trucks

question

The current marketing period where companies emphasize customer satisfaction is referred to as the ________ era. a. sales b. marketing c. production d. relationship

answer

relationship

question

The utility that is created when a salesperson at a car dealership completes the sales contract is ________ utility. a. time b. form c. ownership d. place

answer

ownership

question

Television is an attractive advertising medium because it ________. a. offers mass coverage and flexibility b. provides instant feedback that can be used to measure effectiveness c. is relatively inexpensive d. offers a rapidly growing network audience

answer

offers mass coverage and flexibility

question

An example of secondary data is an interview with 500 reliable consumers. T/F

answer

False

question

Wal-Mart's pricing objective is based primarily on ________ while a jewelry store's pricing objective is based primarily on ________. a. profitability; profitability b. volume; prestige c. volume; profitability d. profitability; prestige

answer

volume; prestige

question

If a product sells for $20 and the variable costs are $14, then the per-unit contribution to fixed costs is $34. T/F

answer

False

question

Personal selling is often used for technically complex products. T/F

answer

True

question

A food producer's goods are carried by thousands of grocery stores across the country. Which of the following distribution channels is the manufacturer most likely to use? a. producer to consumer b. producer to retailer to consumer c. producer to wholesaler to retailer to consumer d. producer to agent to wholesaler to retailer to consumer

answer

producer to wholesaler to retailer to consumer

question

In which stage of the product life cycle do competitors enter the field with similar offerings? a. decline stage b. growth stage c. maturity stage d. introductory stage

answer

growth stage

question

The first step in the sales process is to identify the potential customer. T/F

answer

True

question

________ involves the use of innovative, low-cost marketing efforts to attract customer attention. a. creative selling b. trade promotion c. Guerrilla marketing d. institutional advertising

answer

Guerrilla marketing

question

One of the most difficult areas of marketing decision making is pricing because these decisions are often subject to government regulation and public scrutiny. T/F

answer

True

question

Karen is aware of both Coke and Pepsi, but she buys whichever is on sale. Karen is at the stage of brand recognition but not yet at the stage of brand preference. T/F

answer

True

question

The era in marketing history characterized by the notion that a good product will sell itself is known as the ________ era. a. marketing b. production c. relationship d. sales

answer

production

question

Elizabeth and Tom have an in-ground swimming pool installed in their back yard. About one week after installation, the salesperson telephones and asks if everything about the pool has met with their approval. The salesperson is ________________. a. prospecting b. trying to get a repeat order c. overcoming objections d. conducting a follow-up

answer

conducting a follow-up

question

Ida works on creating ways to ensure that customers receive goods at the right time and correct location. Ida is involved in her firm's ________ strategy. a. product b. promotion c. pricing d. distribution

answer

distribution

question

In the movie, The Social Network, the actor portraying Mark Zuckerberg is featured wearing products by Gap and the North Face. This form of promotion is known as ________. a. product placement b. trade promotion c. institutional advertising d. creative selling

answer

product placement

question

The new-product development stage that deals with the elimination of ideas that do not mesh with overall company objectives is ________. a. screening b. testing c. commercialization d. product development

answer

screening

question

Dunkin' Donuts uses __________ advertising when it tells people that "hard-working" people prefer their coffee over the high-priced Starbucks. a. corporate b. comparative c. reminder-oriented d. informative

answer

comparative

question

One product may be considered a shopping product by one consumer and a convenience product by another consumer. T/F

answer

True

question

When Kroger's grocery store puts its own line of detergent on the shelf next to Tide, the store is promoting its ________ brand. a. family b. individual c. manufacturer d. private

answer

private

question

Water transportation is generally more expensive than transportation by truck. T/F

answer

False

question

Barnes and Noble starts earning 30 percent more profit a month after their new e-reader hit the shelves. Consumers continuously recommend the new product to friends. The e-reader is in the growth stage. T/F

answer

True

question

Logistics is the process of coordinating the flow of goods, services, and information among all members of the supply chain. T/F

answer

True

question

Physical distribution is a major focus for logistics management. T/F

answer

True

question

Peapod is an online grocery service that saves customers time by selecting, packing, and delivering groceries to customers. Peapod is utilizing a ________ retail strategy. a. pricing b. customer service c. product d. promotional

answer

customer service

question

Which classification of business goods is consumed over a long period and usually involves large sums of money? a. capital items b. installation c. convenience items d. expense items

answer

capital items

question

The buyer-seller communication in _________ occurs during a face-to-face meeting or via telephone, videoconference, or interactive computer link. a. personal selling b. non-personal selling c. promotional strategy d. integrated marketing communications

answer

personal selling

question

A singles business aims its promotions toward singles between the ages of 25 and 40 who reside in a specific county. The business has ________. a. developed a marketing mix b. selected a target market c. developed a marketing plan d. created personal utility

answer

selected a target market

question

A manufacturer of a new moisturizing shampoo offers free samples to all potential consumers. The product is generally in the introductory stage. T/F

answer

True

question

A university offers alumni a special Visa card with the university's logo printed on the front. Each time the cardholder uses the card, the university receives a small percentage of the amount charged. This is an example of ________. a. co-marketing b. co-branding c. a frequency marketing program d. an affinity program

answer

an affinity program

question

The future attitudes of most prospects are affected by the first impression they form of the salesperson. Therefore, salespeople ________. a. must be tactful when they respond to objections b. should carefully prepare their approach to potential customers c. must be selective in identifying prospects d. should use the same sales pitch to all customers

answer

should carefully prepare their approach to potential customers

question

Since potential customers are unaware of a product during its introductory stage, initial promotion concentrates on ________. a. communicating new uses for the product b. reducing the size of an available market through selective advertising c. informing the market about the item and explaining its features, uses, and benefits d. getting word-of-mouth referrals

answer

informing the market about the item and explaining its features, uses, and benefits

question

Genuine Products has been involved in intensive price competition with one of its products. Profits are low and market researchers are concerned that losses will soon occur due to a reduced market for the item. This product has reached the ________ stage of the product life cycle. a. growth b. maturity c. decline d. introductory

answer

decline

question

Promotion activities increase substantially when a product begins to enter the decline stage. T/F

answer

False

question

Some products can be highly profitable during the later stages of their life cycle because the initial development costs already have been recovered. T/F

answer

True

question

Luis wants a particular brand of golf ball, but his local pro shop is out of stock. Instead of buying a substitute, Luis goes home and orders his preferred brand online. Luis is at which stage of brand loyalty? a. brand recognition b. brand preference c. brand awareness d. brand insistence

answer

brand insistence

question

Products purchased only after the consumer has compared competing products in competing stores on the basis of price, quality, style, and color would be classified as ________. a. shopping products b. supplies c. commodity products d. specialty products

answer

shopping products

question

Many marketers pay placement fees to promote their products in television shows or movies. T/F

answer

True

question

The first step in developing a competitive retailing strategy is identifying a target market. T/F

answer

True

question

Luke works as a marketing researcher and goes online to obtain information from government publications for census data and demographics. What type of data is Luke researching? a. peripheral b. internal c. secondary d. primary

answer

secondary

question

Goods and services are classified as either consumer or business, depending on the ________. a. purchasers of the particular item b. buying motives of the purchasers c. cost of a particular item d. amount of service required on the item

answer

purchasers of the particular item

question

The end of the supply chain is when goods or services are delivered to marketing intermediaries. T/F

answer

False

question

McDonalds including a toy in each Happy Meal purchase is an example of a premium. T/F

answer

True

question

A consumer who is at the stage of brand insistence will go out of their way to buy a product belonging to that brand, whether it be traveling to a store farther away or making an online purchase. T/F

answer

True

question

In breakeven analysis, the costs that change with the level of production are considered ________ costs. a. variable b. fixed c. recoverable d. labor

answer

variable

question

Some firms will avoid the process of test marketing in order to avoid having their competition learn of their strategies. T/F

answer

True

question

If a company's target market is small and buyers are concentrated in a specific geographical area, which distribution channel would be most effective? a. producer to wholesaler to retailer to consumer b. long distribution channel c. use of multiple marketing intermediaries d. direct channel

answer

direct channel

question

Aidan is tired of doing his laundry at the local laundromat and would like to buy a washer and dryer for his apartment. In the Saturday paper, he notices that a retail store is having a half-price sale. Aidan is at what step of the consumer behavior process? a. searching for alternatives b. purchase act c. purchase decision d. evaluation of alternatives

answer

searching for alternatives

question

Price decreases become common during a product's maturity stage. T/F

answer

True

question

If you did a breakeven analysis for your firm, it would be possible for you to show management the point at which ________. a. the firm would not make a profit if it sold additional units b. the level of sales that will cover all of the company's costs c. profits would be maximized d. the firm's fixed costs would climb sharply

answer

the level of sales that will cover all of the company's costs

question

A buyer's market is one characterized by a shortage of goods and services. T/F

answer

False

question

What can a firm do if it is too difficult or expensive to have salespeople meet all potential customers in person? a. set up a focus group b. engage in missionary selling c. use telemarketing d. meet prospects in a central location

answer

use telemarketing

question

Advertising can be a global activity. T/F

answer

True

question

The fundamental purpose of promotion is to persuade and influence customers to purchase a product. T/F

answer

True

question

An outdoor store sells rafting and camping permits for a close-by national park. The store is creating place utility. T/F

answer

True

question

Explaining the hidden benefits of ownership can enhance a product's value. T/F

answer

True

question

Devin obtains research data based on the number of unique visitors to his company's Web site, as well as tracking types of orders and amount of money spent. Devin is acquiring what type of research data? a. secondary b. principal c. primary d. external

answer

primary

question

Dell Computer is offering $100 cash back on the purchase of a computer. This is an example of a(n) ________. a. sample b. premium c. rebate d. specialty advertising

answer

rebate

question

Tabitha is a research specialist in a marketing division. She is working on a project that involves searching through customer files to detect spending patterns or trends that her company could target to increase sales. Tabitha is ________. a. developing a value-added database b. doing environmental scanning c. segmenting and correlating the data files d. data mining

answer

data mining

question

One of the most common forms of segmenting consumer markets uses characteristics such as age, income, household size, and/or ethnic group. This is known as ________ segmentation. a. end-use b. demographic c. psychographic d. geographic

answer

demographic

question

Trademark protection extends to pictorial designs and slogans. T/F

answer

True

question

Goods and services such as haircuts, GPS systems, and computers that are purchased for end users are examples of ________. a. marketing mix b. business products c. target market d. consumer products

answer

consumer products

question

Philippe owns a store that sells lampshades. The process of receiving money in return for lamp shades is ________. a. place utility b. exchange c. marketing d. time utility

answer

exchange

question

Salespeople determine if prospects have the financial ability and authority to buy through ________. a. approach b. handling objections c. qualifying d. follow-up

answer

qualifying

question

The breakeven point determines at which point to halt production because sales beyond the breakeven point result in losses to the firm. T/F

answer

False

question

Gender is an example of a factor in demographic segmentation. T/F

answer

True

question

In which stage of the product life cycle do sales reach a saturation level, making further sales expansion difficult? a. introductory stage b. maturity stage c. growth stage d. decline stage

answer

maturity stage

question

A company includes an "instant coupon" as part of a product's package, giving the buyer a reduction off the retail price. What is the company attempting to do? a. provide information b. increase sales c. differentiate the product d. stabilize sales

answer

increase sales

question

Customers who choose one brand over another are displaying ________. a. brand awareness b. brand recognition c. brand comprehension d. brand preference

answer

brand preference

question

The Internet is considered an indirect method for connecting with customers. T/F

answer

False

question

Coppertone manufactures sunscreens with various SPF factors, which constitutes the company's ________. a. distribution strategy b. product mix c. product cluster d. product line

answer

product line

question

Maria owns a store that prepares gourmet chocolates, which are hand-made and sold on the premises. What type of product is Maria selling? a. shopping b. specialty c. convenience d. accessory

answer

specialty

OLS 274 Exam 4 Chapters 11-13 – Flashcards

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