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Marketing Management
Marketing Management Midterm
| Term | Definition |
|---|---|
| Which of the following is true with regard to a SWOT analysis? | it evaluates the company's overall strengths. |
| The most common form of marketing organization is the _____ organization. Under this organization, an operational specialist heads different marketing activities. | functional |
| ______ refers to the process by which management evaluates and plans for the future of the products and businesses that make up the company. | Portfolio analysis |
| ________ involves looking at whether a company's key action plans are well-matched to its opportunities. | Strategic control |
| Which of the following defines the company's overall mission and objectives? | Strategic plan |
| Which of the following is a major advantage of the market organization? | The company is organized around the needs of specific customer segements |
| ________ are current and emerging external factors that may challenge the company's performance. | Threats |
| _________ is a description of the organization's purpose---- what it wants to accomplish in the larger environment. | A mission statement |
| In the marketing mix, design, packaging, services, and variety can be categorized under _______. | product |
| During portfolio analysis, a company __________ after identifying the key businesses that make up the company. | assess the attractiveness of its various SBUs |
| Marketing plays a key role in the company's strategic planning in all of these ways EXCEPT: | designing new products from scratch |
| ______ are low-growth, high-share businesses/products that need less investment to hold their market share. | Cash cows |
| Which of the following is true with regard to strategic planning? | The focus of strategic planning is to define a game plan for long-run survival and growth. |
| ______ can represent significant opportunity costs by absorbing managerial energy and attention that could be used more profitably elsewhere. | Dogs |
| A company's mission should _____ be stated as making more sales or profits. | not |
| To find the best marketing strategy and mix, the company engages in all of the following EXCEPT: | innovation |
| Which of the following is NOT an element of the marketing mix? | penetration |
| A company should ______ segments in which it can profitably generate the greatest customer value and sustain it over time. | target |
| Company growth by increasing sales of current products to current market segments without changing the product is called ______. | market penetration |
| In the BCG matrix approach, high-growth, high-share businesses or products are called ________. | Stars |
| The _______ presents a brief summary of the main goals and recommedations of the plan for management review, helping top management find the plan's major points quickly. | executive summary |
| Companies with many different products or brands often create a _______ organization. | product management |
| Each company must divide up the total market, choose the best segments, and design strategies for profitably serving chosen segments. This process invloves all of the following EXEPT: | differentiation |
| According to the Boston Consulting Group approach, _______ provides a measure of market attractiveness. | market growth rate |
| The purpose of _________ is o ensure that the company achieves the sales, profits, and other goals set out in its annual marketing plan. | operating control |
| Which of the following is NOT a step in the strategic planning process? | evaluating members of the company's value chain |
| _______ require a lot of cash to hold their share, let alone increase it. Management has to decide if it should build or phase out these products. | Question marks |
| A ______ consists of specific strategies related to target markets, positioning, the marketing mix, and marketing expenditure levels. It outlines how the company intends to engage target customers and create value in order to capture value in return. | marketing strategy |
| Marketing ______ addresses the what and why, while marketing ________ addresses the who, where, when, and how. | planning; implementation |
| Most standard portfolio analysis methods evaluate SBUS on the _____________. | strength of the market or industry position |
| Sonic Drive-In has more than 3,500 franchisee-operated restaurants in the United States. It is a _____________. | service-firm-sponsored retailer franchise system |
| All of the following are key functions that members of the marketing channel perform EXCEPT: | establishing service-firm sponsored retailer franchises |
| Which of the following does NOT apply to channel systems? | intermediaries play interchangeable roles in the system |
| Which of the following questions is NOT of major concern regarding marketing channels? | What impact do marketing channels have on the profitability of the firm and its partners? |
| A(n) _________ consists of independent firms at different levels of production and distribution that join together through well-defined contracts to obtain more economies or sales impact than each could achieve alone. | Corporate VMS |
| marketing channel design calls for all of the following EXCEPT: | using intensive distribution |
| Which of the following is NOT a major logistics function? | Product designing |
| the greater the number of channel levels in a marketing channel, the ______. | greater the channel complexity |
| to help recruit, train, organize, manage, motivate, and evaluate relationships with channel partners, companies are now installing integrated high-tech __________ systems. | partnership relationship management |
| which of the following is true of changes in the organization of distribution channels? | the growth of the internet threatens many brick-and-mortar companies with disintermediation |
| which of the following is true of conventional distribution channels? | channel members seek to maximize their own profits |
| _______ refers to overseeing upstream, downstream, and reverse value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers. | Supply chain management |
| Plasticine Palace supplies its products exclusively to Arts & Crafts, a chain of stationery stores across the country. The chain then makes the plasticine available to end consumers. This is an example of _______. | an indirect marketing channel |
| Reusing, recycling, refurbishing, or disposing of broken, unwanted, or excess products returned by consumers or resellers is known as _______. | reverse logistics |
| the bookworm began delivering books directly to customers through mail instead of selling through brick-and-mortar companies. This is an example of _______. | disintermediation |
| the term demand chain is considered limited because it ________. | takes a step-by-step, linear view of purchase-production-consumption activities |
| which of the following is true of transporting goods via railroads? | railroads are a cost-effective way to ship large amounts of bulk products over long distances |
| the producer and intermediaries need to agree on the terms and responsibilities of each channel member. They should agree on all EXCEPT: | price policies |
| ________ occur(s) when product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones. | disintermediation and channel disruption |
| With which of the following strategies would a company give only a limited number of dealers the right to distribute its products in their territories? | exclusive distribution |
| the number of intermediary levels indicates the ______ of a channel. | length |
| which of the following is an environmental factor that affects channel objectives and design? | Economic conditions |
| Companies practice strong ______ to forge long-term links with channel members. | partner relationship management |
| Members of the marketing channel perform many key functions that include all of the following transactions EXCEPT: | exclusive territorial agreements |
| marketing channels are part of the overall ________. | customer value delivery network |
| Heart of Midnight sells blue orchids to major florists around the world. Their key requirement is speed. Which of the following modes of transport will help them? | air carriers |
| which of the following is an advantage of a multichannel distribution system? | expanded sales and marketing coverage |
| The management of two Panizza restaurants has an ongoing disagreement over the discount rate given to students from the local high school. This is an example of ______ conflict. | horizontal |
| _______ are complex behavioral systems in which people and companies interact to accomplish individual, company, and channel goals. | distribution channels |
| which of the following is true about using air carriers as a transportation mode when shipping products? | air carriers are ideal when time is short and speed is needed |
| Content marketing managers create, inspire, and share brand messages and conversations with customers across a fluid mix of all of the following channels EXCEPT: | management |
| Which of the following statements is true regarding the affordable method for setting a promotion budget? | it completely ignores the effects of promotion on sales |
| The _______ wrongly views sales as the cause of promotion rather than as the result. | percentage-of-sales method |
| which of the following is used by companies to set their advertising budgets based on the industry average? | competitive-parity method |
| suppose Amazon.com has offered you free shipping on your next purchase of more than $35. This offer is an example of _______. | sales promotion |
| In the message _______, advertisers can use novelty and contrast; eye-catching pictures and heads lines; distinctive formats; message size and position; and color, shape, and movement to attract attention. | format |
| activities designed to engage the company’s various public’s and build good relations with them are called _______. | public relations |
| Each category of __________ involves specific tools. For example, advertising includes digits;, broadcast, print, outdoor, and other forms. Sales promotion includes discounts, coupons, displays, demonstrations, and events. | the promotion mix. |
| which of the following is an advantage to sales promotion? Sales promotion effects ______. | can boost sagging sales |
| ________ allows all kinds of customer relationships to spring up, ranging from matter-of-fact selling relationships to personal relationships. | personal selling |
| while using the _______ method for setting an advertising budget, a company starts with total revenues, deducts operating expenses and capital outlays, and then devotes some portion of the remaining funds to advertising. | affordable |
| a(n) _______ argument is most likely to be effective when the audience is highly educated or likely to hear opposing claims. | Two-sided |
| The best messages consist of words and symbols that are _______ to the receiver. | Familiar |
| which of the following includes news updates, stories, sponsorships, events, and webpages? | Public relations |
| A recent study showed that more than two-thirds of marketers now plan video ad campaigns that stretch across viewing platforms such as traditional and digital, mobile, and social media. Such ______ campaigns combine TV’s vast reach with digitalis superior | Cross-platform |
| through the ______ method of setting an advertising budget is simple to use and helps management think about the relationships among promotion spending, sellling price, and profit per unit, it wrongly views sales as the cause of promotion rather than res. | percentage-of-sales |
| ______ refers to the process of putting thought into symbolic form. | Encoding |
| Marketing communicators must know what ____ and what ______. | Audiences they wish to reach; responses they want |
| Thus, although the promotion mix is the company's primary engagement and communications activity, the entire marketing mix–promotion and product, price, and place–must be ________ for greatest impact. | Coordinated |
| which promotional tool is the most immediate, customized, and interactive? | Direct marketing |
| Advocates of _____ claim they are better than rational messages at drawing attention and create strong beliefs. | Emotional appeals |
| Personal communications about a product between target buyers and neighbors, friends, family members, associates, and other consumers, are known as _____. | Word-of-mouth influence |
| The key is to ____ traditional mass media with online, mobile, and social media to best engage customers, communicate the brand message, and enhance the customer’s brand experiences. | Integrate |
| Non-personal communications channels include major media, ____, and events. | Atmospheres |
| Which of the following statements is true of personal selling? | Firms with business customers rely much more on personal selling than on advertising. |
| Which of the following id NOT a drawback of advertising? | It can reach large masses of geographically dispersed buyers. |
| _____ involves cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities. | Buzz marketing |
| ____ involve(s) cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities. | Buzz marketing |
| Communications programs need to be developed for specific niches, individuals, and ____. | Products. |
| Which budgeting method entails defining specific promotion goals, determining the necessary tasks, and estimating the costs to determine a promotion budget? | objectives-and-task method |
| Embedding a product as a prop in a television program or movie is an example of _____. | Brand integration |
| A specific communication task to be accomplished with a specific target audience during a specific period of time is known as _____. | An advertising objective |
| Competitive parity and task methods are considered when making decisions about ____. | budget |
| How long has advertising been used? | Since the beginning of recorders history |
| ______ is a measure of the percentage of people in a target market who are exposed to an ad campaign during a given period of time. | Reach |
| Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ______ | advertising |
| Advertising located on the web or social media that is designed to look like the surrounding content in form and function is known as _____. | Native advertising |
| Advertising is used mostly by ____. | Business firms. |
| Which of the following has transformed the role of public relations and moved it from the back office to the forefront of brand development and customer engagement ? | The rise of social media |
| Which of the following promotion tools involves building up a positive corporate image and handling unfavorable stories and events? | Public relations |
| A pharmaceutical ad features a world-renowned heart surgeon describing the benefits of a medication. Which of the following message execution styles is illustrated in this example? | Testimonial evidence |
| A media planner for seasonal products will probably focus more on ____ relative to other non-seasonal products. | Media timing |
| After creating a message strategy statement, the advertiser must develop a compelling ____ that will bring the message strategy to life in a distinctive and memorable way. | Creative concept |
| Which of the following would be the most likely result of slashing ad spending for a product? | Reduced long-term market share |
| When the product differs greatly from those of competitors, _______. | Advertising can point out the differences to consumers |
| Which of the following public relations functions involves maintains relationships with shareholders and those in financial community? | Investor relations management |
| Which of the following is an advantage of using newspaper as an advertising medium? | High believability |
| The aim of ____ is to make an advertisement so useful or entertaining that people want to watch it. | Advertisement |
| Enveloping an effective message strategy begins with identifying ______ that can be used as advertising appeals. | Customer benefits |
| News conferences, press tours, and grand openings are examples of ____, a type of tool commonly used by public relations professionals. | Special events |
| Audience quality, audience engagement, and editorial quality are most likely to be considered when a media planner ______. | Selects a media vehicle |
| Which term refers to the general idea that will be communicated to consumers through an advertisement? | Message strategy |
| To measure the ____ effects of an ad after it has aired, the advertiser can evaluate how the ad affected consumer recall, product awareness, attitude changes, and preference. | Communication |
| Media engagement typically occurs _______. | Inside the consumer’s head |
| The advertiser must find the best approach, style, words, format, and _____ for executing the message. | Tone |
| Which type of advertising often creates controversy? | Comparative |
| When selecting a media vehicle, the media planner looks both at the total cost of using a medium and at the ______. | Cost per thousand persons reached |
| Which of the following brands most likely requires heavy advertising in order to be set apart from similar products? | undifferentiated brands |
| A maker of fine watches ran an ad focusing on the Swiss reputation for making luxury timepieces. What type of execution style are they using? | Technical expertise |
| How can public relations have a strong impact at a much lower cost than advertising? | Interesting brand stories, events, videos, or other content can be shared by sources out of the company’s control, but to its benefit. |
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