principals of marketing

Insisting upon a market orientation with ones firm first occurred during which era in U.S business history
the marketing concept era
Which of the following would a marketer use as a synonym for controllable marketing mix factors
the four P’s of marketing
Initially, Facebook targeted which consumer market segment
college students
The four P’s of the marketing mix are
product, price, promotion, and place
Mark Zuckerberg encoutered unimaginable success with his luanch of “” website from his college dorm room. By the end of the second week it had almost ____ members
Jakubowski Farms Gourmet Bread Base is the brand name for a mix designes for use in bread machines. The mixes are sold in 2-pound canisters for $14.99 plus postage. THe products are onyl available through the mail. People learn about the product through word of mouth and bread machine demonstraations the companys founder gives to groups in Wisconsim where she lives. This is a descritption of the companys
Marketing mix
All of the following are true about marketing except
marketing persuades people to buy the “wrong” things
A student wants to buy a smartphone so she can share pictures with her friends. An insurance claim adjuster wants to buy a smartphone to document accidents. If they both purchase the same model smartphone such as an Apple Phone which statement is most accurate
Both the adjuster and the student are potential customers because in their own way they both benefit from the product
Which of the following statements about marketing is most accurate
you are already a marketing expert because as a consumer you have already been involved in marketing decisions.
The unique combination of benefits received by targeted buyers that includes quality, convenience, on time delivery and both before sale and after sale service at a specific price is called
customer value
Which era of U.S. business history does the following statement best describe? “We are in the business of satisfying the needs and wants of consumers while achieving our own goals.”
marketing concept era
To avoid new-product failure, new-product expert Robert M. McMath suggests
focusing on consumer benefits and learning from the past
The Terrafugia Transition is a flying car with an anticipated price of $279,000. A potential showstopper for this product is likely to be
concern about damage caused in small on road fender bender might make it dangerous to fly
Which of the following statements about customer value is most accurate?
To create value for targeted value firms must build long term relantionships with them
Which of the following statements about relationship marketing is most accurate?
relantionship marketing occurs when there is a personal ongoing relantionship between an organization and its customers
With respect to the history of American business, the __________ era immediately followed the sales era.
marketing concept
To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.
Starbucks, Nike, and Johnson and Johnson provide customer value by providing its customers with the best
The two central concerns of marketing are __________.
discovering and satisfying consumer needs
the marketing mix refers to
the marketing manager’s controllable factors—product, price, promotion, and place—that can be used to solve a marketing problem.
Ben and Jerrys is founded on and dedicated to a sustainable corporate concept of linked prosperity. Its mission consists of three interrelated parts: Ben and Jerry’s product mission is to make, distribute, and sell the finest quality all natural ice cream and euphoric concoctions with
a commitment to incorporating wholesome natural ingredients and promoting business practices that respect the earth and the enviroment
The actions taken during the implementation phase of the strategic marketing process include: (1) __________; (2) design the marketing organization; (3) develop schedules; and (4) execute the marketing program
obtain resources
Bill McDermott is co-CEO of SAP, which is a company that sells expensive enterprise resource planning software to large and mid-sized companies. McDermott operates at the __________ level of his organization.
an example of a nonprofit organization is
the American Red Cross
The key steps of planning, implementation, and evaluation are part of the
strategic marketing process
The primary purpose of a marketing metric is to
measure the quantitative value of a marketing activity
The term that includes the employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is
A situation analysis requires a firm to consider the external forces and trends that affect it. Some of these may be favorable to the organization while others may be unfavorable. Which of the following is an example of an external force?
a local government requires that all businesses within the city limits must recycle or be fined
With a marketing dashboard, a marketing manager can glance at all of the following EXCEPT:
a printed report
todays organizations can be divided into two groups which are
business firms and nonprofit organizations
The Facebook “nation” will soon have almost 1 billion members, which is larger than the populations of all but __________ countries in the world.
A sudden drop in the average consumer income would be an example of which environmental force?
Agribusinesses that sell commodity products like wheat, rice, and grain are often in a __________ position with their competitors.
pure competition
Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how __________ forces help improve or replace existing products and companies.
Which of the following is considered one of the major factors that influences an individual’s personal moral philosophy and ethical behavior?
business culture and industry practices
Consider the copying of another’s copyright, trademark, or patent. These are viewed as intellectual property. In the U.S., unauthorized use, reproduction, or distribution of intellectual property is illegal. Yet in China, copying enjoys a long tradition and does not carry a stigma. For example, copying a masterpiece was historically considered an art form in its own right. The difference between the two countries shows that __________ affect(s) the view of ethica1 behavior held in each country.
societal culture and norms
The population explosion has occurred
primarily in the developing countries of Latin America, Asia, and Africa
The form of competition in which there are many sellers and they each have a similar product is referred to as __________.
pure competition
The demographic characteristics and the culture of the population are referred to as
social forces
Inventions or innovations from applied science or engineering research are referred to as
Many firms now use e-mail and the Internet to promote their products instead of sending promotional literature to current and prospective customers though the mail. UPS and FedEx continue to grow, as they have both expedited (overnight) and ground package delivery services. These marketplace activities have caused the U.S. Postal Service (USPS) to lose millions of customers and billions of dollars in revenues. The USPS has challenges ahead in coping with ___________ forces in the marketplace.
All of the following are economic indicators EXCEPT:
barriers to entry
The term that pertains to the income, expenditures, and resources that affect the cost of running a business or household is referred to as (the) __________.
Oil prices have an impact on transportation costs for many types of products. Should oil prices change, the price consumers pay for products often is adjusted accordingly. Changing oil prices would be an example of a(n) __________ force.
Which of the following statements about social responsibility is most accurate?
Organizations are part of a larger society and are accountable to that society for their actions.
The purpose of environmental scanning is to
only identify and interpret trends in the marketplace.
Recently, Gap Inc. ended its relationship with 23 foreign production facilities due to code violations. Several closings occurred because of the use of child labor. In response to these events, the Gap created a large team whose purpose is to travel worldwide to ensure compliance with its Code of Vendor Conduct. This is an example of
social responsibility
One of the world’s largest publishers was totally unprepared for recent increases in the demand for digital books. During 2011, the sale of e-books exceeded the sales of traditional printed paperback books for the first time. If the publisher had __________, it would have been more prepared for this shift in demand.
tracked, as part of its ongoing environmental scanning activities, the sales of e-books sold by other publishers as well as e-book readers sold by (Kindle) and Barnes and Noble (Nook)
All of the following statements about the growth of social networks like Facebook are true EXCEPT:
the Federal Trade Commission (FTC) has had a laissez faire policy of not interfering with the development and marketing of social media websites.
SmartGrid infrastructure, online energy management, and consumer-generated energy (home wind turbines) are best described as examples of __________ forces that would be identified through an environmental scan.
Lexi wants to find the perfect gift for her older sister’s college graduation. She started looking for the gift last month and expects to spend another couple of months if needed to find a gift she will use and like, and hopefully keep forever to remember the occasion. Lexi is engaging in
extended problem solving
Individuals who exert direct or indirect social influence over others are referred to as
opinion leaders
eHarmony claims to be the world’s most trusted online dating website. Its appeal is to satisfy consumers’ __________ needs.
Which of the following statements about the VALS framework is FALSE?
A consumer’s gender and age have a direct effect on placement within a VALS consumer segment.
Consumer behavior includes the actions a person takes in purchasing services and using products and services, including
the mental and social processes that come before and after these actions.
In the hierarchy of needs, __________ needs involve self-preservation as well as physical and financial well-being.
In __________, consumers typically seek some information about just a few options, and may rely on a friend to help them evaluate alternatives.
limited problem solving
Those needs that are represented by the need for achievement, status, prestige, and self-respect are referred to as __________ needs.
The personal, social, and economic significance of the purchase to the consumer, which is known as the level of __________, may cause him or her to skip or minimize one or more stages in the consumer purchase decision process.
High-involvement purchases typically have which of the following sets of characteristics?
The item is expensive, can have serious personal consequences, or could reflect on one’s social image.
In the 19th century, the belief was that production creates its own demand. By the early 20th century, American companies began to produce more goods than buyers could consume. At the same time, competition became more significant. The usual solution was to hire more salespeople to find new buyers. This describes the __________ era.
A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst. The refrigerator offers the teenagers many alternatives—soft drinks, fruit drinks, sport drinks, and bottles of Sunny Delight drink. The ad, which shows the teens happily selecting Sunny Delight over all the other beverages, appeals to the consumers’ __________ for liquid refreshment to quench their thirst and attempts to shape their __________ for the advertised product.
Michelin’s __________ can be summed up as “providing safety-conscious parents greater security in tires at a premium price.”
customer value proposition
Customer value refers to
the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used in the old-fashioned cookies the company produces and markets. This statement deals with which part of the marketing mix?
a marketing plan refers to
a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
Which of the following statements regarding a marketing dashboard is most accurate?
Marketing dashboards provide graphic displays of a product category’s performance, such as sales, website traffic, etc.±
An organization’s special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value is (are) referred to as
An organization’s __________ are the fundamental, passionate, and enduring principles that guide its conduct over time.
core values
The strategic marketing process
is an approach whereby an organization allocates its marketing mix resources to reach its target markets.
In a(n) __________ economy, the cost to produce and buy products and services escalates as prices increase.
The restrictions that state and federal laws place on business with regard to the conduct of its activities are referred to as
Which of the following laws has the purpose of protecting competition?
sherman antitrust act
Which of the following would be identified as a social force in an environmental scan?
an increase in Asian immigration
Women influence what percentage of new car-buying decisions?
80 percent
The long-running U.S. Army recruiting advertisement that invited enlistees to “Be All You Can Be” appeals to which of hierarchy of needs level?
self-actualization needs
The energizing force that stimulates behavior to satisfy a need is referred to as a(n)
Which of the following products is an example of a low-involvement purchase?
Biolage shampoo
The most basic needs are physiological, followed by safety, social, and personal. According to the hierarchy of needs, what category of needs is at the highest level?
self-actualization needs
Many automobile dealerships employ a non-negotiable or “no haggle” price strategy to sell their cars. A customer who wants to buy a new or used car would pay the posted price. These dealers probably adopted this pricing policy because
women have an intense dislike of price negotiation, yet still want to buy a car.
A consumer’s purchases are often influenced by the views, opinions, or behavior of others. Two important aspects of personal influence to marketing are
opinion leadership and word-of-mouth activity.
An Acura automobile ad is headlined by a quote from Henry David Thoreau, “Go in the Direction of Your Dreams.” This ad is most likely to appeal to consumer’s __________ needs.
With respect to the history of American business, the __________ era covered the years from the 1920s to the 1960s.
An inventor for 3M, David Windorski questioned dozens of students about how they study. They told him
that it would be reasonable to put Post-it® Flags together with a highlighter.
After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible
marketing program
If you wanted a new pair of shoes during the Civil War, you traced the outline of your foot on a piece of paper and gave it to a shoemaker. There was no distinction between the right and left foot because you wanted your shoes as quickly as possible, and the shoemaker knew that you would buy them even if they just “sort of” fit. This is an example of a transaction that would have occurred during the __________ era in U.S. business history.
Mizuno designs and sells high quality baseball gloves. Who does NOT benefit from the firm’s marketing activities for its gloves?
all stakeholders should be benefit from Mizuno’s marketing efforts, even society at large
A(n) __________ is the visual computer display of the essential information related to achieving a marketing objective.
marketing dashbaord
Which of the following statements reflects the key elements in developing a marketing strategy for L. M. Schofield, Inc., a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?
Communicate using direct mail about the various walking surfaces Schofield can create for contractors who are building riding and walking paths.
A competitive advantage refers to
a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
The second phase of the strategic marketing process is the __________.
implementation phase
In the 1980s, a lapse in production quality and an increase in Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company’s share of the U.S. super heavy-weight market segment—motorcycles with engine capacity of 850 cubic centimeters or more—collapsed from more than 40 percent in the mid 1970s to 23 percent in 1983. However, by 1989, Harley-Davidson controlled some 65 percent of this market segment. From a marketing perspective, what was the MOST LIKELY first step in Harley-Davidson’s resurgence?
performing a SWOT analysis to assess where the firm has been
Within the strategic marketing process, the__________ is the result of the planning phase that proceeds to the implementation phase where it is carried out.
marketing plan
Ben and Jerry’s is founded on and dedicated to a sustainable corporate concept of linked prosperity. Its mission consists of three interrelated parts: Ben and Jerry’s economic mission is to operate the company
on a sustainable financial basis of profitable growth, increasing value for our stakeholders and expanding opportunities for development and career growth for our employees.
An action item list refers to
an aid to implement a marketing plan that consists of four columns.
The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as
social responsibility.
Changes in the demographic characteristics and the culture of the population can have a dramatic impact on __________.
marketing strategy
According to the textbook, four new technologies are expected to have impact on marketing. These are:
biotechnology, SmartGrids, natural user interfaces, and social networks.
Profit responsibility, societal responsibility, and stakeholder responsibility are three concepts of
social responsibility
Women buy what percentage of new cars?
60 percent
NetJets is a company that offers 1/16 or more ownership in a jet plane for a price beginning at $325,000. It gives purchasers privacy, convenience, and flexibility as well as saves them time since the plane is available within four hours unless it’s booked by one of the other shareholders. This is MOST LIKELY an example of
a high-involvement purchase that involves extended problem solving.
n the hierarchy of needs, a burglar alarm would satisfy a __________ need.
Which list below presents the hierarchy of needs in its correct order, beginning with the lowest level need and continuing to the highest level need?
physiological, safety, social, personal, and self-actualization
An opinion leader is an individual
who exerts direct or indirect social influence over others.
Febreeze is an odor-controlling spray that is manufactured by Procter and Gamble. When Febreeze was introduced, a few people in a chat room stated that the product was harmful to house pets. Though untrue, unfortunately the rumor spread. If P&G had not been convinced it would be a very successful product, it would have dropped Febreeze from its P&G product line as a result of
negative word of mouth
For high-involvement purchases, consumers typically do all of the following EXCEPT:
evaluate a single product attribute, such as price.
Which of the following represents an organizational buyer?
The owner of a fried chicken restaurant hires a snow removal service to keep the parking lot clear.±
is the print and paper purchasing arm of JCPenney.
During late summer and early fall, there is a large demand for containers located in Asia that are used to ship consumer products from Asia to the United States in time for the holiday selling season. The demand for these containers is referred to as __________ demand.
Business-to-business electronic commerce over the Internet
is at least four times greater than consumer electronic commerce when measured by the total dollar value of all Internet transactions.
Swiss specialty chemical company Ciba is the primary producer of the chemical triclosan, the antibacterial agent in many household products like liquid soap. Consumers may have heard about research suggesting environmental and health risks associated with the cumulative effects of antibacterial agents. Changing consumer purchases provide an example of __________ demand for Ciba’s product.
a buying center refers to
the group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.
In the construction industry, an independent trading community such as or enables a general contractor to manage and coordinate the many suppliers, subcontractors, architects, and engineers necessary to complete a project. and are examples of
In the organizational buying process, important product or service characteristics include purchases based on specifications, a predominance of raw and semi-finished goods, and heavy emphasis placed on
delivery time, technical assistance, and postsale service.
Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services are referred to as
When JCPMedia buys paper, it considers suppliers’ forest management and other sustainability practices. For JCPMedia, these are important
organizational buying criteria
Kim Nagele, the senior procurement agent at JCPMedia, purchases tons of publication paper annually at a cost of hundreds of millions of dollars. Which role in the JCPenney buying center does Ms. Nagele perform?
Large multi-store chain retailers such as Sears, Safeway, and Target use a highly formalized buying center referred to as a(n)
buying committee.
Which of these statements regarding organizational buyers is most accurate?
Wholesalers and retailers resell the products they buy without reprocessing them.
In an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other is referred to as a
reverse auction
To select a paper supplier, JCPMedia looks at its capabilities: to deliver on-time, quality and quantity of selected grades of paper, and price. This examination would be done during JCPMedia’s __________ stage of the buying decision process.
purchase decision
Mile High Frozen Foods is a distributor for McDonalds. It also bakes the buns used by McDonalds in several states. It purchases flour, yeast, and sesame seeds, manufactures the buns, and then ships them to McDonalds’ stores. Mile High Frozen Foods is operating in a(n) __________ market.
E-marketplace can take two different formats, which are
independent trading communities or private exchanges.
Organizational buying criteria refer to
the objective attributes of the supplier’s products and services and the capabilities of the supplier itself.
In an effort to make better and more efficient purchase decisions, the Ford Motor Company forms loosely organized groups of people who work together on purchase decisions. The people included in these groups change depending on the purchase situation and may include key personnel from various departments, including research and development, finance, marketing, shipping, and sales. Such a loosely organized group of people within an organization who are involved in the purchase decision is called an organizational
buying center
The size and number of JCPenney catalogs designed and mailed to consumers would determine how much paper JCPMedia would need to buy. This is an example of __________.
derived demand
Recently, the Japanese government, under pressure from its domestic farm lobby, slapped government taxes on mushrooms, leeks, and the reeds used in tatami mats that were being imported from China. Japan levied
Once a company has decided to enter the global marketplace, it must select a means of market entry. Four general options exist: (1) exporting; (2) licensing; (3) joint venture; and (4) __________.
direct investment
The U.S. motorcycle manufacturer Harley-Davidson uses intermediaries to sell its motorcycles in numerous nations outside the United States. Harley-Davidson uses
indirect exporting
A restriction placed on the amount of a product allowed to enter or leave a country is referred to as a
A small Canadian winery located in British Columbia has developed a superior tasting wine. It has no overseas contacts but wants to get its wine on the shelves in selected Asian and European markets where growth has been substantial in the last two years. What type of exporting option would best suit this company?
indirect exporting
Four trends in the past decade have significantly influenced the landscape of global marketing. One of them is
the rise of economic integration and free trade among nations.
Why has Dell, Inc., embarked on a global growth initiative?
Emerging economies offer significant growth potential.
Coca-Cola, Gillette razors, and Wrigley’s gum are selling virtually the same product in many countries. This is an example of which type of global marketing product/promotion strategy?
product extension
Global companies have five strategies for matching products and their promotion efforts to global markets. The strategy of selling virtually the same product in other countries is referred to as
product extension
What is considered normal and expected about the way people do things in a specific country is referred to as __________.
Once a company has decided to enter the global marketplace, it must select a means of market entry. Four general options exist: (1) exporting; (2) __________; (3) joint venture; and (4) direct investment.
Dell established its company primarily with direct telephone-and Internet-based sales. In terms of Dell’s global expansion strategy, which of the following statements is most accurate?
Dell distributes its products through individual sales associates who reach out to customers with a first-hand experience at their doorsteps.
Dell established its company primarily with direct telephone-and Internet-based sales. In terms of Dell’s global expansion strategy, which of the following statements is most accurate?
Dell will open “shop-in-a-shop” counters in selected retailers in India where customers can reduce purchase anxiety by using the computers before they buy.
Changing a product in some way to make it more appropriate for a country’s climate or preferences is an example of which type of global marketing product/promotion strategy?
product adaptation
Four trends in the past decade have significantly influenced the landscape of global marketing. One of them is
a decline in economic protectionism by individual countries.
Which of the following statements about world trade is most accurate?
Dollar value of world trade has more than doubled in the past decade.
Global companies have five strategies for matching products and their promotion efforts to global markets. Changing a product in some way to make it more appropriate for a country’s climate or preferences is an example of which type of global marketing product/promotion strategy?
product adaptation
GlaxoSmithKline plc. of Great Britain makes Breathe-Right nasal strips sells the same product in many countries because customers all over the world will use them in the same way. This is an example of which type of global marketing product/promotion strategy?
product extension
Protectionism refers to
the practice of shielding one or more sectors of a country’s economy from foreign competition through the use of tariffs or quotas.
A firm’s profit potential and control over marketing activities increases as it moves from exporting to direct investment as a global market-entry strategy. But so does the firm’s
financial commitment and risk.
Secondary data can be divided into two parts—_________ and _________.
internal secondary data; external secondary data
Nielsen Media Research collects national TV ratings by using a “people meter.” This is a box that is attached to TV sets, VCRs, DVRs, cable boxes, and satellite dishes in over 9,000 households across the country. A viewer uses the remote to signal the people meter that he or she is watching a TV program. The box then transmits the viewing information to the Nielsen Company. The information Nielsen is collecting is referred to as __________.
observational data
Children’s accessory and toy store Red Carpet Baby! uses U.S. Census Bureau information to determine the number of families with children under age 5 for each state in its market area. Data obtained from this source are called __________.
secondary data
Filmmakers want movie titles that use the same factors that make a good brand name. They must __________.
capture the essence of the film
Making action recommendations, implementing action recommendations, and evaluating results take place during which step of the five-step marketing research approach?
take marketing actions
The first step of the marketing research approach is to __________.
define the problem
Filmmakers want movie titles that use the same factors that make a good brand name. Ideally, they should __________.
have no legal restrictions
Best Western International, Inc., a national hotel chain, paid couples to videotape themselves as they spent three to seven days on a cross-country trip. From this, Best Western found that women usually decide when to pull off the road, where to stay over night, and what amenities the hotel or motel should have to make their stay more enjoyable. These couples were determining their lodging in a “natural use environment,” and so providing __________ research to Best Western.
secondary data are the
facts and figures that have already been recorded before the project at hand.
Melanie manages a local store for a national drug store chain, and had received complaints from several customers about rude employees. In order to determine the status of her customer service, Shelly hired a team of marketing researchers. The researchers posed as customers shopping in the store, but were actually taking notes and recording the actions of the service staff. The research notes Melanie received were a form of __________ data.
After establishing the market segments and product groupings on a market-product grid, the next step is to
estimate, with intelligent “guesstimates” as necessary, the market size for each cell using a simple scale from zero to three (3 is the largest market).
The fifth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.
take marketing actions to reach target markets
Small athletic shoe manufacturers such as Vans have targeted niche markets and make shoes designed to satisfy the needs of different specific groups of customers. This strategy is an example of
market segmentation.
The Zappos segmentation strategy is based on
offering the best selection of shoes and the best service to online shoppers.∑
Campbell’s Soup Company found that its canned nacho cheese sauce, which could be heated and poured directly onto nacho chips, was too hot for Americans in the East and not hot enough for those in the West and Southwest. Today, Campbell’s plants in Texas and California produce a hotter nacho cheese sauce than what is produced in the other plants. Campbell’s is using __________ segmentation.
Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the question,
“Would segmentation be worth doing and is it possible?”
The primary focus of Zappos’ market segmentation strategy is to sell
a wide selection of shoes, clothes, accessories, and housewares to people who will buy them online.
Tony Hsieh, CEO of Zappos, offers $2,000 to anyone who
takes the customer loyalty training class and decides to quit anyway.
Building open and honest relationships with communication is an example of Zappos’ __________.
ten core values for Zappos’ culture
Which of the following is a consumer demographic segmentation variable?
The second step in segmenting and targeting markets that link customer needs to marketing actions is to
group products to be sold into categories.
Head-to-head positioning requires a product to
compete with competitors on similar product attributes in the same market.
Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.
psychographic segmentation
Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.
head-to-head positioning
Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to __________ chocolate milk in the minds of adult consumers.
According to Tony Hsieh, CEO of Zappos, the company devotes the greatest amount of time to
finding ways to improve customer-service levels.
Best Foods Company is considering expanding beyond the regional market segments now served by its Hellmann’s mayonnaise. One criterion management wants to use to evaluate potential new geographic market segments is whether new equipment must be bought to serve each new segment. This is an example of which criterion used to select target market segments?
cost of reaching the segment
The two main types of data are
primary and secondary.
Secondary data are the
facts and figures that have already been recorded before the project at hand.
Watch was a teen publication given out free to high school students, but the publication was unable to deliver the response rates to coupons or sample offers that its advertisers expected. After defining the problem, its publisher developed a research plan, gathered information from teen focus groups, analyzed the findings, and replaced Watch magazine with Fuel for boys and Verve for girls. How would a marketer judge the publisher’s actions?
It took a systematic approach to analyzing the problem and responded to its advertisers’ concerns.
The facts and figures related to the problem are referred to as __________.
Marketing teams must be vigilant in looking for ways to improve the analysis and results in order to learn lessons that might apply to future marketing research efforts. Evaluating the results of marketing research involves
determining if the marketing research and analysis used to develop the recommendations was effective.
Once a market researcher has defined the problem, developed the research plan, and collected the relevant information, what is the next step in the five-step marketing research approach?
develop findings
Research objectives are __________.
specific and measurable
Cross-cultural analysis refers to the study of
similarities and differences among consumers in two or more nations or societies.
What type of exporting has the least amount of commitment and risk but will probably return the least profit?
For the marketer, a thorough __________ involves an understanding of and an appreciation for the values, customs, symbols, and language of other societies.
cross-cultural analysis
In September 2009, the United States imposed a 35% tariff on Chinese tire imports in hopes of sustaining U.S. jobs in tire manufacturing. This addition of tariffs is an example of
increasing protectionism
Tiffany and Company knows that Japanese are superstitious about the number 4. As a result, Tiffany sells its fine glassware and china in sets of five, not four, in Japan. Tiffany has used its knowledge of __________ to avoid connecting its products with the number 4.
cultural symbols
Archer Daniels Midland Co. (ADM) is the world’s largest cocoa-bean processor. It buys cocoa beans and converts them into cocoa powder and cocoa butter, which it then sells to companies like Hershey’s that manufacture consumer products containing chocolate. ADM is operating in a(n) __________ market.
For e-marketplaces, large companies tend to favor __________ that link them with their network of qualified suppliers and customers.
private exchanges
The demand for industrial products and services that is driven by demand for consumer products and services is referred to as
derived demand.
Concert Staging Company provides the stage, the roof system, and the lighting and sound for outdoor concerts and theaters. It is typically hired by the organization sponsoring the event. When the economy slows down, consumers are more likely to save their money for a rainy day rather than buy a concert or theater ticket. The number of concert and theater events determines how many times the company gets to provide its services. Demand for the services provided by Concert Staging Company is a result of __________ demand.
Marketers need to understand their firms’ buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the LEAST USEFUL when trying to understand the operations of a buying center?
“What criteria were used to select the members of the buying center?”
The first step in segmenting and targeting markets that links customer needs to marketing actions is to
group potential buyers into segments.
Each cell of the complete market-product grid shows the __________.
estimated market size
Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation base?
A market-product grid is a framework to relate
the market segments of potential buyers to products offered or potential marketing actions by an organization.
All of the following are geographic segmentation variables EXCEPT:
Members of the Book Promoters Association of Canada recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was Canadian bookstores had been replaced by Walmarts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. The best way to identify the problem would be to use __________.
marketing research
People posing as customers, who are paid to check on the quality of a company’s products and services and write a detailed report on the experience, are referred to as __________.
mystery shoppers
Filmmakers want movie titles that use the same factors that make a good brand name. They must be
After defining the problem and developing the research plan, the next step in the five-step marketing research approach is to
collect relevant information.
Analyzing the data obtained during the marketing research project and presenting the findings take place during which step of the five-step marketing research approach?
develop findings
All of the following are sources of primary data EXCEPT:
government publications.
The final step in the five-step marketing research approach includes making action recommendations, implementing action recommendations, and __________.
evaluating the results
The purpose of Nielsen Media Research’s “cross-platform television ratings” is to
combine its new online campaign ratings with its existing TV ratings.
As a general rule, __________ seems to work best when the consumer target market for the product is alike across countries and cultures—that is, consumers share the same desires, needs, and use for the product.
product extension
Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as __________.
Which of the following examples best demonstrates a company’s appreciation of another country’s values?
McDonald’s restaurants in India serve a full line of products except for hamburgers made from beef.
Business marketing refers to
the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others.
All of the following are roles in a buying center EXCEPT:
Small businesses benefit from independent __________ like Plastics Net, Hospital, and Textile Web.
When a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other, it is referred to as a(n) __________
traditional auction
During late summer and early fall, there is a large demand for containers located in Asia that are used to ship consumer products from Asia to the United States in time for the holiday selling season. The demand for these containers is referred to as __________ demand.
To lower costs and reduce manufacturing time, Michelin has people work together on important purchases. These people include individuals in the roles of buyers, deciders, gatekeepers, and others, as needed. This type of cross-functional group is known as a(n)
buying center
Services depend on the people who provide them. As a result, their quality varies with each person’s capabilities and day-to-day job performance. This element of services is referred to as __________.
The intangibility element of a service refers to the fact that it
can’t be held, seen, or touched before the purchase decision.
One of the eight primary MARKETING-RELATED reasons for new-product failure is __________
incomplete market and product protocol
Business products are also referred to as __________ products.
B2B products
Products organizations buy that assist in providing other products for resale are referred to as __________.
business products
According to Robert Stephens of the Geek Squad, the biggest complaint about technical support people is
they are rude and egotistical.
Which of the following is the best example of a convenience product?
Crest toothpaste
Feature bloat is
an excessive number of product attributes that overwhelms consumers with unnecessary complexity.
The Apple II, Macintosh, iPod, iPhone, MacBook Air, and iPad are all examples of Apple’s commitment to __________.
new product development
In 2011, Fortune rated this company as the world’s most admired company and Bloomberg Businessweek perennially rates it as the most innovative company in the world. This firm is
A product can be classified as “new” if it __________ from existing products.
is functionally different
Consumer products refer to
products purchased by the ultimate consumer.
One of the six ORGANIZATION-RELATED problems that can cause new-product failures is __________.
not really listening to the voice of the consumer
A product is a good, service, or idea consisting of a(n) __________ that satisfy consumers’ needs and is received in exchange for money or something else of value.
bundle of tangible and intangible attributes
Because services tend to be a(n) __________ rather than an object, they are much more difficult for consumers to evaluate
The seven stages an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the __________.
new-product process
An important way of viewing new products is in terms of their effects on consumption, which from the perspective of consumers is by
the degree of learning involved.
The emphasis of a marketing strategy for a continuous direinnovation concentrates on
generating awareness.
To help consumers assess and compare services, marketers try to make them __________ or show the benefits of using the service.
A product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers’ needs and is received in exchange
for money or something else of value.
Tuition, charges, fares, and rates are all terms
given to describe the price of services.
A set of human characteristics associated with a brand name is referred to as __________.
a brand personality
Gatorade is classified as a __________ brand.
Packaging __________.
is any container in which a product is offered for sale and on which information is communicated
Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these indexes is the CDI or __________.
category development index
When Gatorade introduced Gatorade A.M. as a morning beverage when you didn’t want coffee, it was using a __________ strategy.
market modification
Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these indexes is the BDI or __________.
brand development index
For consumers, the primary benefit of branding is _________
it helps consumers become more efficient shoppers
Which of the following statements is most accurate?
The name Gatorade was coined by a team who lost to the University of Florida Gators, attributing the Gator win to the “aid” it got from the rehydrating beverage.
When consumers think of Harley-Davidson, the image is of a masculine, non-conformist. With Vespa motor scooters, the image is of a brainy environmentalist. Both Vespa and Harley-Davidson ___________.
have brand personalities
The four types of discounts are
quantity, seasonal, trade (functional), and cash.
Netflix used to charge $14.99 per month for its movie rental service. However, when Blockbuster introduced the same service at $13.99, Netflix then dropped its price to $13.99. Netflix most likely made this price reduction in an attempt to
maintain market share
When buying a car, __________ may result in discriminatory practices.
a flexible price policy
Vizio, Inc. is an up-and-coming contender in the __________ market.
Given that a firm’s profit is high enough for it to remain in business, an objective may be to __________, which will in turn lead to increases in market share and profit.
increase dollar sales revenue
A company that manages apartments decides to buy 15 new dishwashers at a list price of $550 each as replacements for old dishwashers in a small apartment complex it owns. Because the company is buying more than 10 dishwashers, it is eligible for a $150-per-unit quantity discount. Financing charges total $20 per unit. The company gets $10 per dishwasher for the 15 dishwashers traded in. What is the final price the company will pay for each dishwasher (not the total cost)?
$410 offers thousands of gifts, all priced at $10. This is an example of two pricing methods working in tandem. The firm is MOST LIKELY using a(n) __________.
one-price policy
A one-price policy refers to
setting one price for all buyers of a product or service.
In order to deliver a product that the average consumer can afford, Vizio
handles product design and marketing in the United States and relies on contract manufacturers in Taiwan to build the product.
A demand curve graph typically appears as
a diagonal line going from upper left to lower right demonstrating that as price goes down, demand goes up.
Susan O’Rourke hired an attorney to represent her in a court case involving an auto accident. The attorney charged O’Rourke a fee for his services. Terry Thomas needed a haircut—the local stylist charged him $12 for her services. Aaron Mathison mowed his neighbor’s lawn; in exchange, the neighbor roto-tilled Mathison’s garden. The attorney fees paid by O’Rourke, the $12 charged by the hair stylist, and the exchange of lawn mowing for garden tilling are all examples of
Which of the following is a typical example of a variable cost?
shipping costs
A flexible-price policy allows marketers to respond to
changes in demand, cost, and competitive factors
total cost refers to
the total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and variable cost.
According to Vizio, “The whole goal is to ensure that we have the right product, at the right time and the right price and __________.”
drive a seamless end to end value chain
The horizontal axis of a demand curve graph represents __________.
quantity demanded
variable cost refers to
the sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold.
A demand curve refers to a graph that relates
the quantity sold and price, which shows the maximum number of units that will be sold at a given price.
Vizio’s long-term goal for the next 20 to 30 years is to
be the next sony
Four cost concepts are important in pricing decisions: total cost, fixed cost, variable cost, and __________.
unit variable cost
An iMac personal computer from Apple can be classified according to all of the following categories EXCEPT:
a nondurable good
Singapore Airlines has advertising shows a traveler in the airline’s new seats and emphasizes food and other amenities to overcome the __________ of its service.
Which of the following statements regarding goods is most accurate?
Some goods also have intangible attributes.
One of the eight primary MARKETING-RELATED reasons for new-product failure is __________.
poor product quality
The late Steve Jobs oversaw or invented innovations that revolutionized six industries. Which industry below is NOT one of these six?
cable television
All of the following are responsibilities of a product or brand manager EXCEPT:
developing and implementing strategies at the corporate level.
Directions on how and when to use a product and information about the source and composition of a product that appear on packaging labels provide what kind of benefits?
communication benefits
For consumers, the primary benefit of branding is __________.
it helps consumers become more efficient shoppers
One type of television show is a category called TV reality shows. According to the product life cycle framework, what is(are) the marketing objective(s) of the producers for these reality shows when they were in the introduction stage of their product life cycles?
gain awareness and stimulate the target market to watch
One tool available when trying to even out the variations in demand for services is __________.
off peak pricing
The communication aspect of packaging on a can of Campbell’s soup would most likely be of the greatest benefit to __________.
people with dietary restrictions
The less-expensive matinee movie pricing offered on shows prior to 4:00 P.M. is an example of
off peak pricing
Fixed cost refers to
the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold.
The vertical axis of a demand curve graph represents __________.
price per unit
General Motors and Chrysler recently experienced financial distress resulting in near bankruptcies fundamentally because
their costs got out of control, causing their total costs to exceed their total revenues.
A maximizing current profit objective implies that a company chooses to
set targets whose performance can be measured quickly.
Which of the following would be an example of a fixed cost for a company that makes carbon monoxide monitoring systems for employees to wear that work in hazardous areas?
the rent for the company’s offices
The first stage of the new-product process is
new-product strategy development.
A product refers to
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.
New chewing gum flavors for its Orbit Mist brand like Raspberry Lemon Dew and Crisp Mint Waterfall helped Wrigley’s add to its sales. These new flavors are which type of innovation?
continuous innovation
Consumer packaged goods firms like General Mills and PepsiCo and as well as industrial firms such as Intel and Hewlett-Packard employ a product manager to manage __________.
a close-knit family of products or brands
The use of brand names is especially important for services because of which unique characteristic of services?
What is the marketing objective for the growth stage of the product life cycle?
A marketing strategy that alters a product’s characteristic such as its quality, performance, or appearance to increase its value and sales to customers is referred to as __________.
product modification
An organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors is referred to as __________.
Which of the following statements regarding labels is most accurate?
Labels can be very expensive, but they are important because they often are the first contact the consumer has with the product.
Which of the following statements regarding service branding is most accurate?
Because services are intangible and more difficult to describe, brand names and logos are of critical importance.
Which of the following statements regarding pricing objectives is most accurate?
Pricing objectives may change depending on the financial position of the company.
All of the following are examples of pricing objectives EXCEPT:
competitors prices
Johnson Controls can receive an order for automobile seats from Ford and deliver the order four hours later, beginning with raw materials and ending with delivery of the finished seats to Ford. As used by Johnson Controls, logistics
creates utilities for Ford.
The three degrees of distribution density are
intensive, exclusive, and selective.
A __________ is essentially a sequence of linked suppliers and customers in which every customer is, in turn, a supplier to another customer until a finished product reaches the final consumer.
supply chain
A channel that includes intermediaries that are between the producer and consumer and perform numerous channel functions is referred to as a(n)
indirect channel
Customers currently link to Cisco’s website to configure, price, and order its networking equipment. Cisco then sends orders back out across the Internet to producers and assemblers including Celestica, Flextronics, Jabil, and Solectron. Products are built and tested to Cisco’s standards, sometimes with procedures run remotely by Cisco. Most items are then drop-shipped to buyers, untouched by Cisco’s employees. This is a description of Cisco’s
supply chain
You probably own several pairs of shoes. Further, it is likely you purchased those shoes at retail stores located in a shopping mall and not directly from the manufacturer. In fact, most products are brought to you from a series of other individuals or firms known as a __________.
marketing channel
A middleman refers to
any intermediary between a manufacturer and end-user markets.
The most indirect channel for consumer products incorporates agents, wholesalers, and retailers and is most commonly used when there
are many small manufacturers and many small retailers.
John Deere manufactures and distributes industrial and farm equipment. These types of equipment are considered to be specialty products. Which type of market coverage does John Deere likely use?
exclusive distribution
Jaffar (Jeff) Tabrizi is the owner and president of Tabrizi Oriental Rugs located in Toronto, Canada. He personally shops the world over, handpicks and orders authentic and beautiful handmade rugs, which he has shipped to Canada, where he sells them through his brick-and-mortar stores and through his website. In terms of the marketing channel, Jeff is acting as a(n) __________.
When developing marketing strategies, marketing managers use the elements of the marketing mix, which includes product, price, place, and promotion. In a similar fashion, when developing retailing strategies, marketers use what is called the retailing mix, which includes
retail pricing, store location, retail communication, and merchandise.
Jim Smith is an avid fly fisherman who lives in Deer Key, FL. For his hobby, Jim needs large rubber rafts, hip waders, special fishing rods, reels, line, and an assortment of fishing tackle and lures. There are no sporting goods stores in Deer Key, so Jim orders his fishing supplies from the L.L. Bean catalog. His supplies are generally delivered to his home within 72 hours. Jim is using a __________ to satisfy his fishing supply needs.
direct mail marketer
Which type of outlet is most likely in its early growth stage of the retail life cycle?
online retailers
Level of service is used to describe the degree of service provided to the customer. Three levels of service are provided by self-, _________-, and full-service retailers.
Accelerated development in the retail life cycle is similar to which stage in the product life cycle?
All of the following are forms of nonstore retailing EXCEPT:
factory outlets.
There are three key methods of classifying retail operations
form of ownership, level of service, and merchandise line.
Location-based social networking apps such as Foursquare reward customers for
reporting their locations and visiting stores.
A markup refers to
the amount added to the cost the retailer paid for a product to reach the final selling price.
All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use are referred to as __________.
One method of classification describes whether a retailer is self-, limited-, or full- _________.
The description of how new forms of retail outlets enter the market is referred to as the __________.
wheel of retailing
Wholesalers that carry a broad assortment of merchandise and perform all channel functions are referred to as a __________.
general merchandise wholesaler
Merchant wholesalers are independently owned firms that __________ the merchandise they handle.
take title to
Costco requires customers to perform many shopping functions during the purchasing process and all nonessential customer services have been eliminated. What level of service does Costco offer?
Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates __________.
customer value
Independently owned firms that take title to the merchandise they handle are referred to as
merchant wholesalers.
The _________ distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.
form of ownership
A number of U.S.-based retail chains have begun using check-out terminals that do not use clerks. This is an example of what level of service?
Which of the following firms has made the wisest wholesaler choice for its product?
Raisha’s Retros uses a rack jobber for its replica racecar radios.
For a promotional campaign, the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action is referred to as __________.
the hierarchy of effects
Advertising, sales promotion, and public relations are often said to use __________ because they are used with groups of prospective buyers.
mass selling
The result of organizations’ efforts to create profiles of customers so that direct marketing tools, such as e-mail and catalogs, can be directed at specific customers are referred to as
“To remind” is the promotional objective of which stage of the product life cycle?
Advertising refers to
any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor.
A paid advertisement for the Texas Department of Economic Development—Tourism Division invited readers of a magazine to mail in a postage-paid reply card that was included with the ad, visit the state’s website, or use a toll-free number to request more information about vacation destinations in Texas. The primary purpose of this ad was __________.
lead generation
A push strategy is when a manufacturer
directs the promotional mix to channel members to gain their cooperation in ordering and stocking the product.
Chrysler Corporation provides support and incentives for its Chrysler, Dodge, and Jeep dealers. Through a multi-level program, Chrysler provides incentives to reward dealers for meeting sales goals. Dealers receive an incentive when they are near a goal, another when they reach a goal, and a larger incentive if they exceed sales projections. All of these actions are intended to encourage Chrysler dealers to __________ the Chrysler products through the channel to consumers.
Promotion represents the fourth element in the marketing mix. The promotional element consists of communication tools, including sales promotion, public relations, personal selling, direct marketing, and __________.
New Balance recently spent $13 million for time on television and space in selected magazines to promote its athletic shoes. What form of marketing communication did it use?
All of the following are forms of direct marketing EXCEPT:
in-store free samples
Which of the following is the newest way to engage consumers?
QR codes
The combination of one or more communication tools used to: (1) inform prospective buyers about the benefits of the product; (2) persuade them to try it; and (3) remind them later about the benefits they enjoyed by using the product is referred to as the __________.
promotional mix
The first stage in the hierarchy of effects is __________.
The __________ is defined as the group of prospective buyers toward which a promotion program is directed.
target audience
The fifth stage in the hierarchy of effects is __________.
Pauline received a postcard from a local antique mall. The card invited her to attend an invitation-only open house at the mall and receive a 10 percent discount on her first purchase that day. She went to the antique mall the next day to consider buying an antique lamp. With respect to Pauline, the postcard from the antique mall was a form of direct marketing used to __________.
generate traffic
There’s a new prescription drug on the market that helps reduce common allergy symptoms. Ads for the medicine in magazines and in medical journals would be primarily used to
increase the level of customer awareness for the product.
The concept of designing marketing communications programs that coordinate all promotional activities—advertising, personal selling, sales promotion, public relations, and direct marketing—to provide a consistent message across all audiences is referred to as __________.
integrated marketing communications (IMC)
Direct marketing currently accounts for about __________ of the total U.S. gross domestic product.
When Callaway opened its “online” store, it wanted to be very careful not to ruin the good relationship it had with its loyal trade partners. To make sure this did not happen, Callaway
has one of its retail stores get the credit for an online sale and fulfill the order.
A direct channel is when
producers and end-users deal with each other on a one-on-one basis.
Any intermediary with legal authority to act on behalf of the manufacturer is referred to as a
A supply chain refers to
the sequence of firms that performs activities required to create and deliver a product or service to ultimate consumers or industrial users.
When Dell Computer sells made-to-order PCs to customers online via its website, it is an example of which type of marketing channel?
direct channel
Candy bars should most likely be sold using which type of target market coverage?
intensive distribution
When setting prices for merchandise, retailers must decide on the markup, markdown, and the __________ for markdowns.
Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service. This delivery service is particularly valuable to someone who has been left stranded without transportation. By making it easy to rent temporary transportation, Enterprise is emphasizing which utility?
Why do retailers like location-based apps such as Foursquare?
they provide an opportunity to personalize offerings to potential customers
All of the following are forms of nonstore retailing EXCEPT:
factory outlets
The second stage in the hierarchy of effects is __________.
When Sears places a multiple-page booklet in the local newspaper about its President’s Day sale, it is using which element of the promotional mix?
The fourth stage in the hierarchy of effects is __________.
The __________ includes advertising, personal selling, sales promotion, public relations, and direct marketing.
promotional mix
Customers report many benefits of direct marketing, including the following: (1) they don’t have to go to a store; (2) they can usually shop 24 hours a day; (3) buying direct saves time and money; (4) they avoid hassles with salespeople; (5) it’s fun and entertaining; (6) __________ and (7) many customers believe direct marketing provides great customer service.
there is more privacy than in store shopping
Lead generation refers to
he result of a direct marketing offer designed to generate interest in a product or service, and a request for additional information.
Industrial distributors perform functions that are most like which intermediary in the consumer products marketing channel?
The density of distribution whereby a firm tries to place its products or services in as many outlets as possible is referred to as __________.
intensive distribution
In a direct channel, all channel functions are performed by __________.
Several artists in Charleston, South Carolina, show and sell their work in an art gallery downtown. The gallery is owned by an art lover who does not buy the paintings but displays them and collects a percentage on each piece sold. In terms of the marketing channel, the gallery is a(n) __________.
The distribution intensity associated with shopping products such as electronics, clothing, and costume jewelry is referred to as __________.
selective distribution
Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a
marketing channel
The word flow as it relates to the definition of logistics management refers to decisions needed to move
a product from the source of raw materials to consumption
Reductions in delivery times both in the marketplace and the supply chain have earned firms such as Toyota and Xerox a reputation as “time-based competitors.” For Toyota and Xerox, logistics
creates time and place utility for their customers.
Vending machines are no longer limited by the need for cash. In Japan, South Korea, and the Philippines, consumers use mobile phones that transmit payments to vending machines wirelessly. This is an example of how vending machines can provide which type of utility?
Wells Fargo is one of the best-run banks in the United States. It reaches retail customers through 9,000 stores, a worldwide network of 12,000 ATMs, and its online banking service. Which utility does Wells Fargo best provide?
The retailing mix includes all of the following EXCEPT:
target market
The fifth stage in the hierarchy of effects is __________.
“To inform” is the promotional objective of which stage of the product life cycle?
Which of the following is a suggestion for ensuring the success of a Twitter-based integrated campaign?
The campaign should take place in real time.
“To persuade” is the promotional objective of which stage of the product life cycle?
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