Business test 4 (13-16)

When Maritza Toros opened her Mexican restaurant in a fashionable suburb of Kansas City, she believed that the most important element of her success would be advertising. Local papers, sent out coupons and really focused on the promotional aspects of the restaurant. Which of the four eras of marketing does it seem that Maritza emphasized?
Sales era
What would be included in a discussion of the marketing concept?
A customer orientation, service orientation, profit orientation
Learning as much as possible about customers and doing everything you can to satisfy them and exceed their expectations is:
Customer Relationship Management.
What are the marketing mixed variables?
– Producing a want satisfying product
– Promoting the product
– Setting a price for the product
When McDonald’s considered adding pizza to their menu, the company made pizza available in some of their typical markets, to determine customer reactions. That process is called:
Test marketing
Intermediaries are
Organizations that are in the middle of a series of organizations that distribute goods from producers to consumers
What does marketing research help determine
– What customers have purchased in the past
– What changes have occurred to change what customers want
– What customers are likely to want in the future
What is the first step in the marketing research process.
Define the problem
When S2s needed information about the potential market of their product, the marketing team looked to the internet to find industry trends, and to look at the market for eyewear products, which use the same technology that is used in their self-darkening windshield. The type of information the marketing team was using is
Secondary data
The factors included in an environmental scan are:
Technological factors, competitive factors, economic factors
The increase in the number of older Americans has created s growing demand for nursing homes, health care, continuing education and more. This is as a result of the changes in the ____ factors in the environment.
Sociocultural
Which of the following products would be considered as the “business to business” market?
A computer for the instructor to use while teaching the class.
Johnson and Johnson targets children with Sesame Street bandages, and GM targets women for their Chevy blazer vehicle. These are examples of
Demographic segmentation
We FlyU Anywhere is a travel agency that specializes in creating exotic trips to unusual destinations for their clients. They will create a “designer” vacation just for you. The most accurate description for the kind of marketing this travel agency is using would be:
One-to-one marketing
The company that makes the Nautica brand liscened with the Stride-Rite company to make and athletic shoe to compete with Nike. The company wants the shoe to be used for athletics, not worn just for style. Nautica is making use of:
Market segmentation
At one time, companies develop[ped products and promotions to please large groups of people, and tried to sell as many products to as many people as possible. This is known as:
Mass marketing
Kelly Butler is out looking for a new car. Kelly is an aspiring lawyer, and she is looking for a car that will help her to project that ” lawyer” image. Kelly is influenced by:
A reference group
After Kelly bought her car, she realized just how much money she had spent! She spent some time wondering if she had made the right decision. Kelly seems to be suffering from:
Cognitive Dissonance
What describes the business to business market.
– There are relatively few customers in the industrial market
-Industrial customers are relatively large
– Industrial buyers are generally more rational than consumer buyers
Marketing strategies for the business-to-business market.
Differ from consumer marketing strategies because the nature of the buyers is different.
The idea of customer relationship management is to enhance customer satisfaction and stimulate long-term customer loyalty.
True
Non profits for the most part do not need to make use of marketing techniques.
False
Coupons rebates and cents-off deals are pert of the promotion variable of the marketing mix.
True
Test marketing refers to the development of an accurate description of your product and then testing it by asking people whether the idea appeals to them.
False
Setting an appropriate price includes considering the cost involved in producing, promoting, and distributing the product.
True
To keep the costs lower, it is best to use secondary data first, when possible, in the market research process.
True
Socio-cultural factors such as population growth and changing demographics may affect some marketers, but are not important for most organizations.
False
If the economy begins to fall on hard times, about the only thing marketers can do is to cut production and wait for better times.
False
The process of dividing the total market into several groups is called target marketing.
False
An example of psychographic segmentation is dividing the market by whether or not your customers live in cities or in suburban areas.
False
The bag and Tall Men’s stores, which cater to men who are certain heights and weights, is an example of a company using niche marketing
True
Relationship marketing leads away from mass production toward more custom made goods and services
True
When selling to the Chinese market , it is important to avoid demonstrating how your product makes the customer stand out from the crowd, because the Chinese relate better to group identity. This is an example of a cultural influence.
True
The reason for distinguishing between consumer markets and the business to business market is because the strategies for reaching the market are different, because the buyers are different, and the B2B market is much smaller.
False
The B2B market is smaller than the consumer market in terms of the number of buyers, but large, in terms of the size of the buyers.
True
B2B sales tend to be less direct than consumer sales, because business buyers use more middlemen.
False
What describes the total product that consumers consider when they purchase a product.
Price Image created by advertising, brand name
Ford motor company produces cars, trucks, and SUVs and provides financing. These products are part of Ford’s
product mix
Companies that distribute bottled water, like Evian or Aquafina, have the challenge of making a product that looks the same from one company to another appear to have qualities unique to that brand. Companies create these perceived differences using …
Product differentiation.
Small businesses often have an advantage in product differentiation because ….
they are more flexible in adapting to customer wants and needs.
Which of the folowing is not one of the classifications of consumer products?
desired goods and services
Which of the folowing would be considered a specialty good/service?
Rolex Watch
The best way to promote products like clothes and shoes is to emphasize
price differences quality differences or some combination of the two.
When a manufacturer buys a laptop computer for employees use at work, the computer would be considered a:
business god
The factory that S2S, a manufacturer of self – darkening windshields, is building on the outskirts of Denver is an example of a(n)_______type of business good.
Installation
Because products are often being sold in self- service outlets, rather than by salesperson:
Packing has become more important, as a way to promote the product.
What is a list of functions of packaging?
Protect the goods inside, attract the buyer’s attention , and provide information
The Jolly green giant would be an example of a:
Trademark
Rollerblade is working to make sure that when people refer to inline skating, they don’t use the name: Rollerblade to refer to the sport. Rollerblade is afraid that their brand name will become a:
generic good
Each time you purchase toothpaste, you will only buy close n’ brite, toothpaste guaranteed to give you fresh breath and whiter teeth. If the store is out of this brand you will make a point of going to a different store to buy that product. This is an example of:
Brand insistence
The process of taking a product idea to consumer to test their reaction is known as:
Concept testing
The new product development process begins with:
Idea generation
The importance of the product life cycle is that:
Different stages in the product life cycle is call for different marketing strategies.
Sony, and the makers of personal digital assistance, have made the prices of these product more competitive, have increased the number and kinds of stores in which they are available , have offered a variety of choices, but not a lot , and are advertising extensively.
Growth
Which of the fllowing is not included in a list of pricing objectives?
Global sensitives
When Sony consideres how to price a new product, they determine what price they think their customers with pay, and then identify what profit the company needs. From there they determine the features they can offer on this product. This method of determining price is known as:
target costing
If fixed costs are $100,000, variable cost per unit is $40 and the selling price is $60, how many units must be sold for the firm to break even?
5000
When the Japanese entered the DVD player market ,they priced the product lower than the US markers in order to capture a large share of the market quickly.
Penetration strategy
Upscale retailers, such as Nordstrom’s feature customer service as their significant point of difference, and use that difference to compete with less expensive stores. This is know as:
Service Competition
In todays market, marketers must learn to listen to consumers and adapt to a constntly changing market.
True
To create the attractive value package an organization must always begin with a low price
False
It is otfen easier for larger companies to established a close relationship with customers because they have representatives in most parts of the country.
False
An example of a convienence good would be a candy bar.
True
PRoducts can be classified as either a consumer or business product, but not as both.
False
New technology is now enabling companies to track products through a radio signal attached to the product.
True
Brand loyalty means than your product comes to mind when a product category is mentioned.
False
An example of a delaer, or private, brand would be cherokee, sold exclusively in target stores nationwide.
True
A brand manager, or product manager, has the responsibility for all the elements of the marketing mix for brand or product line..
True
An imprtant source of new product ideas is company employees.
True
Sales of a product peak late in the growth stage of the product life cycle.
False
One marketing strategy in the maturity stage is to differentiate your product so that it will appeal to more market segments
true
A firm will pursue only one pricing strategy at a time.
False
Pricing objectives generally will have no effect on the other marketing mix variables.
False
The break-even point is the point where sales revenue is equal to profits.
False
When movie theaters charge lower rates for children, and companies give discounts to senior citizens, they are using demand oriented pricing
True
Most pricing depends upon what the competition is charging.
False
Marketers wont generally compete on product attributes other than price
False
One way to avoid price wars is to establish friendly relationships with consumers
True
What are the activities of a distribution function?
Storage, transportation, inventory.
Which of the following statements is accurate regarding marketing intermediaries?
Intermediaries perform some functions cheaper and faster then manufacturers.
In some areas of the country, Wal-mart stays open 24 hours a day, most days of the year. This is an example of..
Time utility
_____ utility is rapidly becoming the most important utility for many retailers as they face competition from direct marketing forms of retailing, such as the internet or catalogs.
Service
The major difference between wholesalers and retailers is that:
Retailers sell to final consumers, while wholesalers sell to another member of the channel of distribution, not final consumers.
Sam’s club sells to retailers, but doesn’t offer transportation. Sam’s will also allow a final consumer to shop, but charges an annual fee, and they have begun to allow customers to use credit, but the store will not deliver. Sam’s is an example of a:
Cash and carry wholeseller
Cindy Murphy wants to get into fashion merchandising. Because of the risks involved in high fashion, and how quickly fashions go out of date, Cindy doesn’t want to start a company in which she has title to the clothing. Cindy will have to rule out which of the following in her choice of business?
Merchant wholesaler
Borders, Lowe’s hardware, and office max are stores that offer wide selections of a product category at competitive prices. These stores can be so price competitive that they will drive out smaller businesses. These stores are known as:
Category killers
After a few years of relying on the internet to market their product, management at The Flying Noodle, a pasta company, has decided that it is time to get their product into the supermarket. This kind of basic pasta product will do best with:
Intensive distribution
What is not true about retailing over the internet
Most retailers can get away without going online.
One of the fastest growing aspects of retailing is:
Direct marketing
What is not an example of direct marketing
Buying a soda from the vending machine @ school
Midas muffler, Baskin-Robbins , and other franchisers are examples of:
Contractual distribution system.
Compared to a channel of distribution, a supply chain:
Is longer, because it includes links from suppliers.
What is not included in a list of benefits of supply chain management systems?
They create a more efficient method of production.
Logistics is:
Planning, implementing, and controlling, the physical flow of materials, final goods, and related information from pointsof origin to points of consumption.
Third party logistics refers to.
The use of outside firms to help move goods
Dave Klein is a produce farmer in northern California. His major customers are grocery stores in the Midwest.Dave’s product will only last for about two weeks after it has been picked, so Dave is concerned with getting his product to his customers quickly, but also needs to be aware of the cost of shipping, as produce is a perishable item. He ships almost daily when his produce is in season. Which form of shipping is Dave MOST likely to use
Trucks
When Hans bought his car while on a trip to Germany, he wasn’t sure how it would be shipped. The dealer assured him that many people buy cars and have them shipped to overseas destinations. The dealer explained that it’s a smooth transition from land to sea and back to land, by trucking the car to the port, loading the entire truck trailer on to the ship, then trucking again to the destination. This process is known as:
Fishyback
A ____ gathers, then redistributes products.
Distribution warehouse
A channel of distribution consists of marketing intermediaries who join together to store and transport goods in their path from producer to consumer
True
Generally, it is much less expensive and much faster when we can avoid the use of marketing intermediary and go straight to the producer.
False
Marketing intermediaries canbeeliminated but their activies can’t
True
Form utility is typically provided by producers rather than intermediaries
True
When Lowe’s makes arrangements for a refrigerator to be delivered to the buyer’s hom, they are providing time utility
True
Merchant wholesalers do not buy what they sell ; they primarily match buyers with sellers
False
A sales agent, or manufacturer’s agent, can represent several companies
True
Exclusive distribution would be used by a producer of a product such as skydiving equiptment.
True
An example of a category killer would be Office Depot or Borders books
True
One of the challenges of electronic retailing is providing service and keeping customers.
True
The benefit of vending machines is their convenient location
True
Multilevel marketing is not a good way to make money, because it costs too much to get into.
False
In a corporate distribution center, a retailer signs a contract to cooperate with a manufacturer.
False
The primary concern of supply chain management enables companies to carry lower levels of inventory and improve customer service.
False
Supply chain management enables companies to carry lower levels of inventory and improve customer service.
true
Today, logistics is as much about the movement of information as it is about the movement of goods.
True
A major issue in marketing in the future will be how to ship goods to other countries in the fastest way possible and still keep costs low.
True
A smaller manufacturer may make use of a freight forward because they don’t ship enough product to fill a railcar or truck
True
Intermodal shipping uses multiple modes of transportation to complete a single long-distance movement of freight
True
A distribution warehouse hold products for a relatively longtime, until they can be distributed to the appropriate retailer or customer.
False
Promotion is an effort by marketers to
inform, remind,and persuade people to buy
S2S is a company that makes self-darkening windshields for cars and trucks.What is the promotion mix?
sponsoring a NASCAR race, hiring a sales force to call on automotive customers.
Technology and the internet have
had a tremendous impact on promotion
What would not be included in a discussion of the benefits of advertising, according to the text.
Advertising creates a lot of job security.
Product placement refers to
Paying to put products into tv shows and movies where they will be seen
Which media would be best if you are interested in targeting a specific audience, need flexibility, have a local market and don’t have a lot of money to spend
Radio
What is not included in a discussion of the benefits of advertising using infomercials
Infomercials are low in cost
In personal selling, the relationship must continue for a long time, as the salesperson responds to new requests for information from current customers. This is an important part of the __ step in personal selling
Follow up
What is the first step in the b2b personal selling process
prospect and quality
What is true about personal selling today.
Automation has had a big impact on personal selling with the use of high-tech hardware and software
The first formal step in the B2C personal selling process is
Approach
What is not part of developing a good public relations program
Advertise in a way that promotes positive word of mouth
It is the responsibility of the public relations department to
maintain close ties with the media, community leaders, government officials and other corporate stakeholders.
What is not considered to be a benefit of publicity?
You can control when the publicity release will be used
Mary went to the store to use coupons she received in the mail and bought some food she received samples of before. she is taking advantage of
sales promotion
What is not true regarding sales promotion efforts
Sales promotion efforts are aimed at employees, then dealers, then at the end consumer.
One of the best ways to reduce negative word of mouth is to
take care of consumer complaints quickly and effectively
Viral marketingis
Promotional efforts such as paying people to say positive things about your product on the internet
Podcasting refers to
a means of distributing audio and video programs via the internet that lets users subscribe to a number of files and then hear or view the material at the time they choose.
San Antonio made an effort to develop promotional materials for travel agents and bus tour companies that are within a 330 mile radius of the city. City officials are hopeful that these efforts will encourage tourism in the area when agents suggest the city to their clients. San Antonio is using
Pull strategy
intergrated marketing communication combines all the promotional tools into a comprhensive and unified promotional strategy
True
The first step in developing promotion campaign is to identify the target market
True
One of the benefits of internet advertising is that marketers can reach the people they most watn to reach, which are consumers researching products in which they are interested
True
In globl advertising, the evidence supports the theory that promotional strategies an be implemented worldwide with few changes
false
the current trend in promotion is to build relationships with customers overtime
true
The follow up step in personal selling is the least important
false
the objective during an initial sales call is to make a sale, or get a commitment to a sale
false
today, b2b sales personnel will need to learn how to add value to the product they are selling through providing all the information a potential customer needs
true
one of the avantages of publicity is that the company has control over how the media will use the story
false
one of the problems with publicity is that it is not believable
false
sales promotion can be used as an attempt to keep salespeople enthusiastic about the company and the product
true
event marketing means sponsoring events such as rock concerts or being at various events to promote your products
true
companies are trending to use the traditional promotional tools less today because so much information about consumers is now available
true
When using a pull strategy, advertising and sales promotion effort are directed at consumers
true
when designing a promotion mix, one should keep in mind that large, homogeneous groups of consumers are usually most effectively reached through advertising
false
blogging is expected to have a huge impact on marketing in the future
true