MKT 331 final
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| from a marketing prespective, product quality primarily depends on | the customers specific needs and requrments
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| a marketing manager developing a marketing mix to sell ________ probably needs to be concerned with grading, transportation and storing because of sesonal production and /or parrishable products | raw materials
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| When business buyers purchase items such as grease, electricity, typing paper, they are buying | operating supplies
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| when teh economy is sluggish, final customers have less money to buy their favorite computer gadgets. and this causes touch screen manufacturors to sell less product to computer makers like apple. this illistrates teh concept of | derived demand
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| Why might the demand for business products be inelastic, while teh demand facing individual sellers of those products is extremely elastic | because the demand the demand for business products is derived and some industries have many sellers of essentially homogeneous products
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| Difference between the quality of products it is economical for an individual producer to make and the quality normally wanted by individual consumers or users is _______ | Discrepancies of quality
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| difference between the product lines the typical producer makes and the assortment wanted by final consumers or users | discrepancies of assortment
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| the common "product market commitment" in a channel system helps to eliminate_______ | unnecessary and costly duplication of marketing funtions
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| why should pricing objectives be explicitly stated? | they have a direct effect on pricing policies and the methods used t set the price.
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| a focus on a target return or return on investment are charicteriscs of ______ pricing objectives | profit oriented
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| what a consumer must give up to get the benefits offered by the rest of a firms marketing mix | price
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| business products producer which has given its salespeople the right to adjust prices when necessary to get new business is using a ______ policy | flexible price
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| noncumulative quality discounts | apply only to individual orders
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| indirect channels are probably better choice than direct channels when | ALLOFTHEABOVE
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| a direct to customer channel | eliminates some of the marketing functions
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| advertising objectives should | determine the kinds of advertising needed
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| what is an inappropriate advertising objective | to improve the consumer goodwill and help sell the product
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| a supermarket manager should use ________ advertising to increase store traffic during the middle of the week | direct competitive
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| when a company includes "stories" and or videos on its website of how it has helped customers solve a problem, this is an example of | a case study
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| Sales promotion | usually last for limited time, spending has grown in mature markets, involves wide variety of activities, and can make the personal selling job easier
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| which is NOT an example of sales promotion | secure favorable media coverage
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| "Advertising" _______________ | is less expensive than personal selling, is any paid form of any non personal presentation of ideas goods or services,is not the same as publicity, is less flexible than personal selling
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| What is a sales promotion that is aimed directly at a companies own sales force | bonuses
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| "Noise" in communication sense refers to | any distractions that reduce the effectiveness of the communication process
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| decoding | process of the RECEIVER translating the message
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| logistics decisions do NOT include ________ | storage of goods
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| the physical distribution customer service level concerns | how rapidly and dependably a firm can deliver what customers want
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| the physical distribution concept says (or implies that ) | a firm should seek to minimalize the total cost of transporting, storing and product handling -- for a given service level
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| as a mode of transportation, railways shouldnt be used for | fresh fruit
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| slowest transportation method | ship
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| in a market directed system..... | it is up to each consumer to decide how effectively individual firms satisfy his or her needs
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| in measuring customer satisfaction, marketing managers should remember that | consumer satisfaction is a highly personal concept
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| micro marketing effectiveness can be measured by | the profits o business firms, the opinions of intermediaries, customer complaints and attitude research studies.
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| one of the most criticized of all marketing activities | advertising
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| the forces of competition in and among ___________ helps to speed diffusionof marketing advancesto consumers everywhere | market directed economies
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| according to text, basic approaches to price seting are | cost oriented and demand oriented price setting
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| which of the following is an example of a cost oriented price setting approach | markup pricing
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| average cost is obtained by dividing | total cost by related quantity
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| setting pricesby adding a "reasonable" markup to a firms average cost | average cost pricing
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| "rule of maximizing profit" is that a producer should set a price such that | marginal cost is just less than or equal to marginal revenue
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| definition of "product" | need satisfying offering of a firm
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| the elements of product planning | product idea, branding, packaging, warrenty and product classes
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| "place" | making goods and services availible in the right quantities and locations, when customers want them
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| place channel systems include - | place objectives, direct vs indirect, channel specialists, channel relationships, market exposure
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| place objectives | product class, product life cycle
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| direct vs indirect | differences between, when to use
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| channel specialists | discrepencies and assortments
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| channel relationships | implementing strategy, vertical
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| market exposure | intensive selective and elusive
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| integral marketing communications | internation coordination of every communication from a firm to the consumer to convey a consistent and comlplete message
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| publicity | unpaid form of nonpersonal presentation, tv shows, interviews, talk shows
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| sales promotion | relates promotion activities, (not advertising publicity,or personal selling)that stimulate intrest
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| pricing objectives | profit orented, sales oriented, and status quo oriented
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| sales oriented pricing objectives | seeks some level of unit sales, dollar sales or share of teh market, without refering to the market
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| status quo oriented pricing objectives | Dont rock the boat objectives
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| profit oriented pricing objectives | seeks to get as much profit as possible
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