question

Winston has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market. Which of the following correctly identifies a key difference Winston is likely to observe between consumer markets and business- to- business markets

answer

Buyers in the business- to business markets tend to be more rational than buyers in consumer markets

question

Sears sells batteries under its own Diehard brand name even though another company actually produces these batteries. This is an example of a:

answer

dealer (private) brand

question

_ refers to any paid, non-personal communication through various media by organizations and individuals who are in some way identified in the message

answer

Advertising

question

Which of the following tasks would be included in the marketing mix

answer

evaluating various distribution alternatives to detennie the best way to get the product to the consumer

question

Which of the following describes a word, letter, or group of words or letters that differentiate the goods and services of a seller from those of competitors

answer

brand name

question

Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments

answer

niche marketing

question

Coupons, rebates, samples, demonstrations, etc., are examples of...

answer

sales promotion

question

A firm's marketing mix refers to the combination of:

answer

strategies regarding product, price, place, and promotion

question

Charging high prices to earn large profits during a time when there is little competition represents a(n)_ strategy:

answer

skimming

question

_ is the process of identifying factors that can affect marketing success

answer

environmental scanning

question

The business philosophy of "produce as much as you can because there is a limitless market" is consistent with which of the following marketing eras

answer

production era

question

Missy is considering adding a rack of greeting cards to her product offerings at Doggie Books Unlimited. Her fixed costs associated with adding the greeting cards would be $300. Variable costs per card are $1 each. The greeting cards will sell for $2 each. Missy's break-even point would occur at _ cards sold

answer

300

question

Which of the following refers to the practice of paying to have a product appear favorable in a TV show or movie

answer

Product placement

question

Whether a consumer thinks a product provides the best value depends upon:

answer

the consumer's perceptions

question

Firms that have adopted _ seek to do more than simply sell a product; they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time

answer

customer relationship management

question

Exploring _ data first helps marketers minimize marketing research costs

answer

secondary

question

_ involves planning, implementing and controlling the physical flow of materials, final goods, and related information from points of origins to points of consumption to meet customer requirements at a profit

answer

Logistics

question

A firm gathers_ data by conducting surveys, interviewing customers, or mailing out questionnaires

answer

primary

question

_ costs are those costs that increase as the level of production increases

answer

variable

question

Companies can implement global marketing by developing a product and promotional strategy that:

answer

can be implemented worldwide

question

Firms with a very limited advertising budget would be very unlikely to use _ advertising

answer

Television

question

Shakira works in the marketing department of a major manufacturing firm. Much of her job involves managing the movement of materials, parts, and information from suppliers to her firm. She tries to coordinate these flows with her firm's factory processes and assists with the efficient movement of finished goods to final consumers. These activities suggest that Shakira's job responsibilities focus on:

answer

supply chain management

question

Which stage of the product life cycle is characterized by rapidly rising sales, very high profit levels, and a growing number of competitors

answer

growth

question

The stages of the product life cycle are:

answer

introduction, growth, maturity, and decline

question

The number of units of a product that must be sold for total revenue to equal total costs is called the:

answer

break-even point

question

The traditional promotion mix for a firm consists of the:

answer

advertising, personal selling. public relations, and sales promotion used to reach a target market

question

As a product progresses through each stage of product life cycle, successful market recognize that each stage requires:

answer

a different marketing strategy

question

_ consists of major capital equipment such as new factories and heavy machinery

answer

installations

question

In an effort to increase customer loyalty, management at Brandy International has worked to create a personal dialogue with their customers. This dialogue will enable Brandy to offer products that exactly meet their customers' needs and provide personalized service before and after the sale. Brandy International's new strategy illustrates:

answer

relationship marketing

question

Marketing aimed at marketing intermediaries that inspires them to promote the sales of a particular product is known as:

answer

push strategy

question

A firm that uses _ segmentation divides a market into groups based on values, attitudes, or interests

answer

psychographic

question

Which of the following is the best example of a product line

answer

Kellogg offers Special K, Raisin Bran, Com Flakes, and a variety of other cold ready-to-eat cereals

question

A company is looking into expanding by opening restaurants in additional markets, and also wants to improve its menu. Which of the following is an example of secondary data the owners of the restaurant might find useful

answer

information published by the U.S Bureau of Census that identifies which regions of the United States are experiencing the most rapid growth in restaurant revenue

question

The degree to which customers are satisfied and a committed to future purchases of a desired brand called:

answer

brand loyalty

question

A comparison of the marketing concept and customer relationship management, indicates that customer relationship management

answer

extends the marketing concept by calling for the firm to learn more about its customers so that it not only satisfies them, but exceeds their expectations over time

question

Certain brand names, such as Kleenex and Xerox, fear they could become _, because they are so commonly identified with a specific product category that consumers use their names refer to any product in that category regardless of the manufacturer

answer

generic names

question

A review of the personal selling process indicates that selling is:

answer

a matter of establishing relationships

question

Location is very important in the marketing of _ because consumers desire to purchase these goods with minimum of shopping effort

answer

convenience goods

question

The primary difference between retailers and wholesalers is that:

answer

retailers typically sell to final consumers, while wholesalers typically sell to other organizations, such as retailers or manufacturers

question

Today, packaging is:

answer

assuming an increasingly important role in the promotion of products

question

Supermarkets and discount stores often advertise products at prices at or below their cost to attract people to the store. These products represent:

answer

loss leaders

question

A firm that uses_ segmentation divides a market into groups based on age, income, or level of education

answer

demographic

question

The Proctor & Gamble (P&G) Company produces bar soap, disposable diapers, deodorants, laundry detergents, cookies, cake mix, shampoo, shortening, and many other products. These products are part of P&G's:

answer

product mix

question

The factor that determines whether a product is classified as a consumer product or an industrial product is:

answer

the end use of the product

question

Eddie is convinced that his product idea has tremendous potential. He has decided to produce the product himself, but plans to use other firms who specialize in storing and transporting to help him move the product along its path to the final consumer. These specialist Eddie uses will be part of his:

answer

channel of distribution

question

The _ is based on three elements: (1)a customer orientation, (2) a service orientation, and (3) a profit orientation

answer

marketing concept

question

Compared to advertising, publicity offers the advantage of greater:

answer

believability

question

_ combines all the promotional tools employed by a firm into one comprehensive and unified promotional strategy

answer

Integrated marking communication

question

According to the product life cycle model, sales are expected to peak in the _ stage

answer

maturity

question

Which of the following are products consumers buy after comparing quality price, and style from a variety of sellers

answer

shopping goods

Test #4 (Chapters 13-16) – Flashcards

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