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MRKT 201 Final Exam
| Question | Answer |
|---|---|
| Generally, the ________ and ________ sophisticated the channel member, the less likely that it will use supply chain intermediaries. | larger; more |
| A ________, which may be operated by retailers, manufacturers, or distribution specialists, is a facility for the receipt, storage, and redistribution of goods to company stores or customers. | distribution center |
| What has Amazon done to change customers’ delivery expectations? | instituted an expedited shipping subscription service |
| Retailers may modify product, price, and/or promotion to attempt to increase their ________, which is the percentage of the customer’s purchases made from that particular retailer. | share of wallet |
| Rather than carrying 15 brands of laundry detergent, ________ offer one or two brands and sizes, one of which is a store brand. | limited-assortment supermarkets |
| Which metric is similar to walking into a store, taking a quick look around, and leaving? | bounce rate |
| When Denisha sells the jewelry she makes at craft fairs or on her personal website, she is utilizing a(n) ________ marketing channel. | direct |
| Many retailers have developed ________, which are products developed and marketed by a retailer and available only from that retailer. | private-label brands |
| Radio frequency identification tags are | tiny computer chips that transmit information about the contents of containers. |
| When is it most beneficial and appropriate for a retailer to use a distribution center? | if the retailer wants less inventory investments systemwide |
| JIT inventory systems are associated with | more inventory to warehouse. |
| When developing strategies for working with retailers, manufacturers must consider whether they should sell in more than one outlet . Which of the following factors for establishing a relationship with retailers deals with this? | determining whether or not to use an omnichannel strategy |
| Distribution intensity is commonly divided into three levels. They are | intensive, exclusive, and selective. |
| company recently launched promote a new product. Darryl’s job to monitor customer feedback from social medias to see whether or not the new product is garnering favorable reviews. The technique for measuring this type of data is called _ analysis. | sentiment |
| Automobile manufacturers such as Ford and General Motors often use ________ distribution, such that dealers act as retailers. | indirect |
| Which is a reason that retailers use distribution centers rather than store inventory on site? | Retail store space is typically much more expensive than is space at a distribution center. |
| _distribution helps a seller maintain a particular image and control the flow of merchandise into an area which makes this approach attractive to many shopping goods manufacturers, such as most apparel items, home items like branded pots and pans | Selective |
| Marketers analyze comments posted by consumers on sites such as Facebook, Twitter, and online blogs to assess the favorability or unfavorability about a company and its products in a process known as | sentiment analysis. |
| If Kleenex produced a new, ecofriendly personal-sized package of tissues, which it intended to get into as many retail outlets as possible, it should choose a(n) ________ distribution strategy. | intensive |
| Which of the following accurately depicts the three-stage online, social, and mobile media engagement process? | listen, analyze, do |
| When two or more firms join to reach a specific target market, it is referred to as | cross-promoting. |
| ________ advertising generally occurs in the growth and early maturity stages of the product life cycle, when competition is most intense, and attempts to accelerate the market’s acceptance of the product. | Persuasive |
| Traditionally, advertising has been ________ and ________. | passive; offline |
| When introducing new products, Quaker Oats uses a(n) ________ strategy by offering retailers discounts on the products along with point-of-purchase displays to motivate them to highlight the product. | push |
| American Airlines advertises throughout the year, but significantly increases its advertising during certain low-demand periods, thus implementing a ________ advertising schedule. | pulsing |
| The slogans “Better Ingredients, Better Pizza,” and “World’s Best Hamburgers” are examples of ________, which is the legal exaggeration of praise, stopping just short of deception, lavished on a product. | puffery |
| Nat gauged the level of exposure to his marketing campaign using the percentage of the target population exposed at least once to his advertisement, representing its | reach. |
| The fact that a particular advertisement might not cause a consumer to make an immediate purchase is referred to as | the lagged effect. |
| In the communication process, ________ refers to the process by which the receiver interprets the sender’s message. | decoding |
| The AIDA model represents a series of mental stages a consumer goes through and includes awareness, action, interest, and | desire. |
| ________ appeals help consumers make purchase decisions by offering factual information that encourages consumers to evaluate the brand favorably on the basis of the key benefits it provides. | Informational |
| The AIDA model is also known as the ________ model. | think, feel, do |
| As a product in the maturity stage of its life cycle, chewing gum brands would most likely require the use of ________ advertising to prompt purchases. | reminder |
| When designing in-store signage, retailers often develop yellow signs and shelf tags with bold lettering to catch consumers’ attention. The use of visuals in this manner represents the ________ component of the communication process. | encoding |
| A ________ offers an item for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testing. | premium |
| ________ is (are) the number of times an ad appears in front of the user. | Impressions |
| An example of ________ is when America’s Got Talent judges are seen drinking Dunkin’ Donuts coffee. | product placement |
| Assessing the effectiveness of an advertising campaign while it is running by monitoring key indicators is referred to as | tracking. |
| Alberto determined one of the metrics he would use to gauge the level of exposure his marketing message had with his target market was the number of times the target was exposed to his message throughout the six weeks of the campaign, representing its | frequency. |
| Coppertone uses a ________ advertising schedule, where it advertises heavily in the months leading up to and during the summer, with no advertising after the season ends. | flighting |
| Bank tellers have been replaced by ATMs, which provide consistent levels of service and are never late, sick, or in a bad mood, thus overcoming the ________ nature of services. | heterogeneous |
| The complete set of Kellogg’s offerings representing its ________ includes ready-to-eat cereal, toaster pastries, wholesome portable breakfast snacks, cookies, crackers, and natural and organic brands. | product mix |
| When marketers carefully develop a set of product attributes such as the brand name, features/design, and quality level of an offering, they are developing the | actual product. |
| Kraft, Nike, Coca-Cola, KitchenAid, and Sony are all examples of the use of ________ brands. | manufacturer |
| When marketers develop nonphysical aspects of an offering by adding warranties, financing, and after-sales service, they are focusing on the | augmented product. |
| Services are ________ in that they cannot be stored for use in the future. | perishable |
| Companies like Lacoste go to great lengths to protect themselves through the use of trademarks and copyrights. This best represents which of the following advantages of branding? | Brands are assets. |
| When Dairy Queen teams up with Oreo cookies for its Blizzard frozen treats and advertises them with the Oreo name alongside the Dairy Queen name, it is an example of | cobranding. |
| In response to increased consumer demand for healthful beverages, companies like Coca-Cola and Pepsi introduced new product lines like fruit juice to ________ their product mix. | increase the breadth of |
| Kellogg’s has a variety of brands in its cookies and crackers ________, including Cheez-It crackers, Bear Naked, Famous Amos cookies, and Austin cookies and crackers. | product line |
| Insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is a(n) ________ that consumers don’t normally think about much. | unsought product |
| Gabriella spent a lot of time shopping for her wedding dress, spending considerable time and effort visiting some of the finest bridal shops in the area. For Gabriella, her wedding dress is a(n) ________ product. | specialty |
| In the grocery store, you can see the Kraft name on its Kraft Mayo and on Kraft salad dressings. Having the Kraft name on various products is an example of the use of | a family brand |
| The Victorinox Swiss Army Company is well known for its Swiss Army knives. The company also makes and markets its Swiss Army brand of watches, travel gear, cutlery, and even fragrances. This represents a ________ strategy. | brand extension |
| In a failed attempt at extending its brand to a new product line, Bic introduced a line of disposable underwear. To the extent that this brand extension adversely affected consumers’ perceptions about its current product lines, this could lead to | brand dilution. |
| ________ measures how many consumers in a market are familiar with the brand and what it stands for and have an opinion about it. | Brand awareness |
| For most products, the UPC code would be located on the ________ package. | secondary |
| Leo never spends a lot of time or thought picking up lunch when he is at work. For him, lunch items would be considered to be ________ products. | convenience |
| Poland Springs produces a variety of bottled water beverages, and as the market continues to show growth potential for new flavors and varieties of bottled water, the company should ________ its product lines. | increase the depth of |
| Demand for movie tickets is high on weekends and holidays. To compensate for low ticket sales during the week, some movie theaters offer discounted tickets to stimulate weekday demand. This is an example of the ________ nature of services. | perishable |
| A(n) ________ strategy relies on the promotion of sales, during which prices are temporarily reduced to encourage purchases. | high/low pricing |
| People who are considered “innovators” in that they are willing to pay a higher price to obtain a new product or service, would likely not object to a ________ strategy. | price skimming |
| ________ is used to market products to innovators who are willing to pay the very highest prices to obtain brand-new examples of technology advances, with exciting product enhancements. | Price skimming |
| In terms of a pricing strategy, ________ adds value by reducing consumers’ search costs; consumers can spend less of their valuable time comparing prices, including sale prices, at different stores. | EDLP |
| ________ involves determining the point at which the number of units sold generates just enough revenue to equal the total costs. | Break-even analysis |
| Nadia’s firm is entering a new market and she plans to set prices to take sales away from the established market leader even though it will mean profits might suffer. This corresponds to which of the following company objectives? | sales orientation |
| With ________ products and services, a higher price might lead to a greater quantity sold, but only up to a certain point. | prestige |
| In a(n) ________ demand scenario, relatively small changes in price will generate fairly large changes in the quantity demanded. | elastic |
| In addition to offering the potential to build sales, market share, and profits, ________ discourages competitors from entering the market because the profit margin is relatively low. | penetration pricing |
| In the soft drink industry only a few firms dominate, which is characterized as | an oligopoly. |
| Airlines that offer lower fares on seats shortly before the flight’s departure date to fill empty seats are utilizing what type of pricing tactic? | dynamic pricing |
| The objective of ________ is to build sales, market share and profits quickly by providing an incentive to purchase the product immediately. | penetration pricing |
| Best Buy will match competitor prices for customers who bring in proof that a particular product is being sold at a lower price by a competitor, thus using | status quo pricing. |
| In break-even analysis, when the break-even point is reached ________ is (are) zero. | profits |
| A(n) ________ strategy is appealing because it attracts two distinct market segments: those who are not price-sensitive along with more price-sensitive customers. | high/low pricing |
| Variable costs are affected by | production volume. |
| Firms usually implement ________ when they have a particular profit goal as their overriding concern. | target profit pricing |
| As the marketing vice president, Nadia is considering implementing a companywide pricing policy that all products must achieve a target profit margin of 15% so the firm can achieve its overall growth objectives. What type of company objective is this? | profit orientation |
| Some big box retailers have invested in their own private brands, charging just slightly lower than national brands to signal the quality of the products is good, involving the use of | competition-based pricing. |
| In the trucking industry, demand for fuel remains relatively stable even in times when the price of fuel increases, indicating that demand for fuel in this segment is | inelastic. |
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