Test #4 (Chapters 13-16)

Test #4 (Chapters 13-16)

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
Buyers in the business- to business markets tend to be more rational than buyers in consumer markets
Sears sells batteries under its own Diehard brand name even though another company actually produces these batteries. This is an example of a:
dealer (private) brand
_ refers to any paid, non-personal communication through various media by organizations and individuals who are in some way identified in the message
Advertising
Which of the following tasks would be included in the marketing mix
evaluating various distribution alternatives to detennie the best way to get the product to the consumer
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
brand name
Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments
niche marketing
Coupons, rebates, samples, demonstrations, etc., are examples of…
sales promotion
A firm’s marketing mix refers to the combination of:
strategies regarding product, price, place, and promotion
Charging high prices to earn large profits during a time when there is little competition represents a(n)_ strategy:
skimming
_ is the process of identifying factors that can affect marketing success
environmental scanning
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
production era
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
300
Which of the following refers to the practice of paying to have a product appear favorable in a TV show or movie
Product placement
Whether a consumer thinks a product provides the best value depends upon:
the consumer’s perceptions
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
customer relationship management
Exploring _ data first helps marketers minimize marketing research costs
secondary
_ 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
Logistics
A firm gathers_ data by conducting surveys, interviewing customers, or mailing out questionnaires
primary
_ costs are those costs that increase as the level of production increases
variable
Companies can implement global marketing by developing a product and promotional strategy that:
can be implemented worldwide
Firms with a very limited advertising budget would be very unlikely to use _ advertising
Television
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:
supply chain management
Which stage of the product life cycle is characterized by rapidly rising sales, very high profit levels, and a growing number of competitors
growth
The stages of the product life cycle are:
introduction, growth, maturity, and decline
The number of units of a product that must be sold for total revenue to equal total costs is called the:
break-even point
The traditional promotion mix for a firm consists of the:
advertising, personal selling. public relations, and sales promotion used to reach a target market
As a product progresses through each stage of product life cycle, successful market recognize that each stage requires:
a different marketing strategy
_ consists of major capital equipment such as new factories and heavy machinery
installations
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:
relationship marketing
Marketing aimed at marketing intermediaries that inspires them to promote the sales of a particular product is known as:
push strategy
A firm that uses _ segmentation divides a market into groups based on values, attitudes, or interests
psychographic
Which of the following is the best example of a product line
Kellogg offers Special K, Raisin Bran, Com Flakes, and a variety of other cold ready-to-eat cereals
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
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
The degree to which customers are satisfied and a committed to future purchases of a desired brand called:
brand loyalty
A comparison of the marketing concept and customer relationship management, indicates that customer relationship management
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
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
generic names
A review of the personal selling process indicates that selling is:
a matter of establishing relationships
Location is very important in the marketing of _ because consumers desire to purchase these goods with minimum of shopping effort
convenience goods
The primary difference between retailers and wholesalers is that:
retailers typically sell to final consumers, while wholesalers typically sell to other organizations, such as retailers or manufacturers
Today, packaging is:
assuming an increasingly important role in the promotion of products
Supermarkets and discount stores often advertise products at prices at or below their cost to attract people to the store. These products represent:
loss leaders
A firm that uses_ segmentation divides a market into groups based on age, income, or level of education
demographic
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:
product mix
The factor that determines whether a product is classified as a consumer product or an industrial product is:
the end use of the product
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:
channel of distribution
The _ is based on three elements: (1)a customer orientation, (2) a service orientation, and (3) a profit orientation
marketing concept
Compared to advertising, publicity offers the advantage of greater:
believability
_ combines all the promotional tools employed by a firm into one comprehensive and unified promotional strategy
Integrated marking communication
According to the product life cycle model, sales are expected to peak in the _ stage
maturity
Which of the following are products consumers buy after comparing quality price, and style from a variety of sellers
shopping goods

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