MKT101.txt

________ uses buyers' perceptions of what a product is worth, not the seller's cost, as the key to pricing. | Customer value-based pricing
In ________, price is considered along with the other marketing mix variables before the marketing program is set. | value-based pricing
Value-based pricing is the reverse process of ________. | cost-based pricing
With ________, price is set to match consumers' perceptions of product value. | value-based pricing
Measuring ________ can be difficult. A company might conduct surveys or experiments to test this in the different products it offers. | perceived value
Underpriced products sell very well, but they produce less revenue than they would have if price were raised to the ________ level. | perceived
If a seller charges ________ than the buyer's perceived value, the company's sales will ________. | more; suffer
Some companies have adopted a(n) ________ strategy, offering just the right combination of quality and good service at a fair price. | good-value pricing
When McDonald's and other fast food restaurants offer "value menu" items at surprisingly low prices, they are using ________. | good-value pricing
Walmart is famous for using what important type of value pricing? | everyday low pricing
________ involves charging a constant, everyday low price with few or no temporary price discounts. | EDLP
________ involves attaching features and services to differentiate a company's offers and to support charging higher prices. | Value-added pricing
When there is price competition, many companies adopt ________ rather than cutting prices to match competitors. | value-added strategies
Ryanair offers free flights to a quarter of its customers and rock-bottom prices to many of its other customers. Ryanair then charges for all extra services, such as baggage handling and in-flight refreshments. Which of the following best describes Ryanair's pricing method? | good-value pricing
________ pricing involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for the company's efforts and risks. | Cost-based
Fixed costs ________ as the number of units produced increases. | remain the same
Costs that do not vary with production or sales level are referred to as ________. | fixed costs
Rent, electricity, and executive salaries are examples of ________. | fixed costs
Costs that vary directly with the level of production are referred to as ________. | variable costs
________ are the sum of the ________ and ________ for any given level of production. | Total costs; fixed; variable costs
SRAC is the acronym for which concept related to costs at different levels of production? | short-run average cost 
The LRAC is most closely related to which of the following? | the cost of producing a greater quantity of units 
The learning curve is also referred to as the ________. | experience curve
As production workers become better organized and more familiar with equipment, the average cost per unit decreases. This is called the ________. | experience curve
With a higher volume of product, most companies can expect to ________. | gain economies of scale
The experience curve reveals that ________. | A, B, and C
When a downward-sloping experience curve exists, a company should usually ________ the selling price of that product in order to bring in higher revenues. | decrease
Which of the following is a risk a company takes when building a strategy around the experience curve? | Aggressive pricing may give the product a cheap image, causing customers to lose interest.
A company building its pricing strategy around the experience curve would be most likely to ________. | price its products low
The company designs what it considers to be a good product, totals the expenses of making the product, and sets a price that adds a standard markup to the cost of the product. This approach to pricing is called ________. | cost-plus pricing
Lawyers, accountants, and other professionals typically price by adding a standard markup for profit. This is known as ________. |) cost-plus pricing
The simplest pricing method is ________. | markup pricing
Which of the following is a reason why markup pricing is NOT practical? | This method ignores demand.
One reason ________ remains popular is that sellers are more certain about costs than about demand. | markup pricing
Price competition is minimized when all firms in an industry use which pricing method? |) markup pricing
Many people feel that ________ pricing is fairer to both buyers and sellers. Sellers earn a fair return on their investment but do not take advantage of buyers when buyers' demand becomes great. |) markup
Which of the following is a cost-based approach to pricing?  | target return pricing
Break-even pricing, or a variation called ________, is when the firm tries to determine the price at which it will break even or make the profit it is seeking. | target return pricing
Target return pricing uses the concept of a(n) ________, which shows the total cost and total revenue expected at different sales volume levels. | break-even chart
The break-even volume is the point at which ________. | the total revenue and total costs lines intersect
Which of the following statements about break-even analysis is true? | It is calculated using variable costs, the unit price, and fixed costs
As a manufacturer increases price, the ________ drops.  | break-even volume
Which of the following involves setting prices based on competitors' strategies, costs, prices, and market offerings? | competition-based pricing
Which of the following is an external factor that affects pricing decisions? |  demand
________ that influence pricing decisions include the nature of the market and other environmental factors. | External factors
In order to form a consistent and effective integrated marketing program, price decisions should be coordinated with each of the following EXCEPT ________. | competitors' prices
With target costing, marketers will first ________ and then ________. | determine a selling price; target costs to ensure that the price is met
A company that wants to emphasize the premium quality of its product and enhance the product's allure would be most likely to position its product on ________. | high prices
Price setting is usually determined by ________ in small companies. | top management
Price setting is usually determined by ________ in large companies. | both B and C
In industrial markets, ________ typically has the final say in setting the pricing objectives and policies of a company. |  top management
In industries in which pricing is a key factor, ________ often set the best prices or help others in setting them. | pricing departments
Under ________, the market consists of many buyers and sellers trading in a uniform commodity such as wheat, copper, or financial securities. | pure competition
Under ________, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price. |  monopolistic competition
Firms are less affected by competitors' pricing strategies under ________ than under ________. | monopolistic competition; oligopolistic competition
Under ________, the market consists of one seller. | a pure monopoly
The relationship between the price charged and the resulting demand level can be shown as the ________. | demand curve
Which of the following is true about the demand curve? | It shows the relationship between product demand and product price.
Ascot Tires has decided to decrease its prices. The company can expect that ________ for its product will increase. | demand
________ describes how responsive demand will be to a change in price. | Price elasticity
If demand hardly changes with a small change in price, we say the demand is ________. |  inelastic
If demand changes greatly with a small change in price, we say the demand is ________. | elastic
Price elasticity of demand is ________ divided by ________. | percent change in quantity demanded; percent change in price
Buyers are less price sensitive in all of the following situations EXCEPT ________. | when the total expenditure for a product is high relative to their income
The less ________ the demand, the ________ it benefits the seller to raise the price. |  elastic; more
Dips in the economy and the instant price comparisons made possible by the Internet have both contributed to ________. |  increased consumer price sensitivity
In the aftermath of the Great Recession, consumers have become ________. | more value conscious
A company should set prices that will allow ________ to receive a fair profit. | resellers
When companies set prices, the government and social concerns are two ________ affecting pricing decisions. | external factors
Amos Zook, an Amish farmer, sells organically grown produce. Often he will trade some of his produce for dairy products produced by other Amish farmers. The sum of the values exchanged for the produce is the ________. | price
Trader Joe's offers an assortment of exclusive gourmet products at impossibly low prices. These prices are not limited-time offers or special discounts. Instead, they reflect Trader Joe's ________ strategy. | everyday low pricing
Xbox 360 decides to add a free subscription to XBOX magazine with every game bought in an effort to differentiate its offering from PS3 games. This is an example of ________. | value-added pricing
The long-run average cost curve (LRAC) helps the producer understand which of the following? | how large a business should be in order to be most efficient
Assume a manufacturer with fixed costs of $100,000, a variable cost of $10, and expected sales of 50,000 units wants to earn a 20 percent markup on sales. What is the manufacturer's markup price? |  $15
General Motors prices its automobiles to achieve a 15 to 20 percent profit on its investment. This approach is called ________. | target-return pricing
A company faces fixed costs of $100,000 and variable costs of $8.00/unit. It plans to directly sell its product to the market for $12.00. How many units must it produce and sell to break even? |  25,000
Ecstasy Pharmaceuticals faces fixed costs with its new drug of $1,000,000. The company sells the drug in bottles of 50 pills for $10.00. It estimates that it must sell 200,000 bottles to break even. What is the total cost to produce a bottle of 50 pills? | $5.00
A manufacturer is trying to determine its break-even volume. With fixed costs of $100,000, a variable cost of $10, and expected sales of 50,000 units, what should the manufacturer's unit cost be to break even? | $12
As a manufacturer decreases price, ________ volume increases. | break-even
P&G surveyed the market and identified an unserved segment of the electric toothbrush market. Using these results, P&G created Spinbrush. The unorthodox order of this marketing mix decision is an example of ________. | target costing
PoolPak produces climate-control systems for large swimming pools. The company's customers are more concerned about service support for maintaining a system than its initial price. PoolPak may use this knowledge to become more competitive through ________. | a nonprice position
By pledging to be a leader in providing clean, renewable energy sources and developing products and services that help consumers protect the environment, Green Mountain Power competes successfully against "cheaper" brands that focus on more price-sensitive consumers. Green Mountain Power has the firm belief that even kilowatt-hours can be ________. | differentiated
In Vin del Mar, Chile, there are a dozen stores specializing in selling the same quality of seafood products on one street. An individual store dare not charge more than the going price without the risk of losing business to the other stores that are selling the fish at a common price. This is an example of what type of market? | pure competition
Companies are fortunate to have demand that is more ________ because they may be able to set higher prices. | inelastic
If demand falls by 1 percent when price is increased by 2 percent, then ________. | A and B
Jimmy's Hardware, an independent local retailer, is losing business to Walmart. This is most likely because he cannot match Walmart's pricing strategy of ________. | EDLP
Consumers who have less time and patience for watching for supermarket specials and clipping coupons would most likely prefer ________. | EDLP
________ pricing works only if that price actually brings in the expected level of sales. | Target return
If Canon Camera Company follows a high-price, high-margin strategy, what will competitors such as Nikon, Minolta, and Pentax most likely do? | They will want to compete against Canon.
If Canon Camera Company follows a low-price, low-margin strategy for a product, what will competitors most likely do? | They will decide to decide to target underserved niches.
Consumers usually perceive higher-priced products as ________. | having high quality
hich of the following involves adapting a firm to take advantage of opportunities in its constantly changing environment?  | strategic planning 
hen a firm develops and maintains a strategic fit between its goals and capabilities, it is performing ________.  | strategic planning
hich of the following is the first step in strategic planning?  | define the company mission 
hich of the following is NOT a step in the strategic planning process?  | evaluating all members of the value chain
hich of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be? | a mission statement 
_______ should be market oriented and defined in terms of ________.  | Mission statements; customers' needs 
 company's mission statement serves as a statement of ________.  | purpose 
hich of the following is NOT a market-oriented business definition?  | "to sell tools and home repair and improvement items" 
ll of the following are examples of product-oriented mission statements EXCEPT which one?  | "We sell lifestyle and self-expression; success and status; memories, hopes, and dreams."
Which of the following is the principle objective of a market-oriented mission statement?  | to satisfy basic customer needs
All of the following are accurate guidelines for a company's mission statement EXCEPT which one?  | A mission statement should be narrow.
Revlon has clearly defined its "mission" of selling lifestyle and self-expression. In order for the firm to launch its strategic plan, the mission needs to next be turned into detailed ________ that guide each level of the company.  | supporting objectives
The collection of businesses and products that make up a company is called its ________.  | business portfolio
Business portfolio planning involves two steps: ________ and ________.  | analyzing the current business portfolio; shaping the future business portfolio
Paul Pierce is busy working with other managers evaluating the products and businesses making up their company. Paul is engaged in ________.  | portfolio analysis
Which of the following can be a company division, a product line within a division, or sometimes a single product or brand?  | an SBU
After management has identified the key businesses making up its company, what is the next step in portfolio analysis?  | assessing the attractiveness of its SBUs
The best-known product portfolio planning method was developed by ________.  | the Boston Consulting Group
Most portfolio analysis methods evaluate SBUs on two dimensions, namely ________ and ________.  | market or industry attractiveness; strength of the SBU's position
In the Boston Consulting Group approach, ________ provides a measure of market attractiveness. A) relative market share  | market growth rate
In the Boston Consulting Group approach, ________ serves as a measure of company strength in the market.  | relative market share
The BCG growth-share matrix classifies four types of SBUs. They are ________, ________, ________, and ________.  | stars; cash cows; question marks; dogs
In the BCG approach, ________ are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they turn into ________.  | stars; cash cows
________ are low-growth, high share businesses or products. They generate a lot of cash that the firm uses to pay its bills and support other SBUs that need investment.  | Cash cows
In the BCG matrix, income from ________ can be used to help finance the company's question marks and stars.  | cash cows
When dealing with a(n) ________, managers must decide whether to invest in it in an attempt to build it into a star or cash cow or whether to phase it out. A) exclamation mark  | question mark
The four possible strategies that can be pursued for each SBU are building, holding, ________, and ________.  | harvesting; divesting
Which of the following does NOT accurately reflect a problem with the BCG matrix approach?  | It focuses on planning for the future.
Unlike strategic-planning efforts of the past, which were conducted primarily by senior managers, today's strategic planning is ________.  | decentralized
While a valuable planning tool, the BCG matrix is problematic in that it focuses on ________.  | the present instead of the future
According to your text, which department in a company carries the primary responsibility for achieving profitable growth?  | marketing
Which of the following is a useful tool for identifying growth opportunities?  | the product/market expansion grid
Mountain Home Farms is now using the product/market expansion grid to develop strategies. The owners of the company have most likely found the grid to be quite useful for identifying ________.  | growth opportunities
Making more sales to current customers without changing a firm's products is ________.  | market penetration
A common practice among marketers is to identify and develop new markets for their existing products. This practice is called ________.  | market development
If Under Armour, the successful maker of moisture-wicking shirts and shorts, considered introducing a line of Under Armour fitness equipment, the company would be considering ________.  | diversification
Which of the following entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy?  | downsizing
Which of the following is NOT a reason that a firm might want to abandon products or markets? | The economic environment is showing signs of recovery.
Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.  | value chain
Multinationals like Honda Motor Co. and Walmart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality. This illustrates the importance of an efficient ________.  | value delivery network
Which of the following is the marketing logic by which a company hopes to achieve profitable customer relationships?  | marketing strategy
Lucy Ortiz is preparing a PowerPoint presentation of the marketing process to show at a sales meeting. ________ should appear in the center of her diagram depicting marketing strategies and the marketing mix.  | Customer value and relationships
A sound marketing strategy begins with which of the following?  | customer analysis
Your firm is attempting to divide up the total market to determine the best segments it can serve. Which is the correct order of doing so?  | market segmentation then market targeting
The process of customer-driven marketing involves which of the following?  | market segmentation; market targeting; differentiation; positioning
Which of the following is the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors? A) market targeting  | market segmentation
Your new employer has asked you, as a new marketing graduate, to develop a group of potential customers who might respond in a similar way to a given set of marketing efforts. You have been asked to develop a(n) ________.  | market segment
Which of the following involves evaluating each market segment's attractiveness and selecting one or more segments to enter?  | market targeting
Favorite Memories specializes in serving gift shoppers that major competitors overlook and ignore. Which of the following best describes Favorite Memories?  | market nicher
Which of the following is the place a product occupies in the consumer's mind relative to competition?  | position
Effective positioning begins with ________ the company's marketing offer in order to give consumers more perceived value.  | differentiating
Which of the four Ps describes the goods-and-services combination the company offers to the target market?  | product
In the four Ps of the marketing mix, design, packaging, services, and variety all fall under the category of ________.  | product
Today the four Ps are compared to the four Cs. Product and place are called ________ and ________, respectively.  | customer solution; convenience
In the marketing management functions, a SWOT analysis should ________ a marketing plan.  | precede
In a basic SWOT analysis the "T" stands for ________.  | threats
In a basic SWOT analysis, the "S" stands for ________.  | strengths
In SWOT analysis, which of the following would be considered a strength?  | internal resources
In SWOT analysis, which of the following refers to factors in the external environment?  | opportunities
The main section of the marketing plan presents a detailed ________ analysis of the current marketing situation.  | SWOT
A marketing plan begins with a(n) ________, which quickly overviews goals and recommendations.  | executive summary
According to the textbook, your boss is most likely referring to ________ when she mentions "doing things right."  | implementation
IBM has its sales and marketing people assigned to markets in specific countries, regions, and districts. This is an example of which type of marketing organization?  | geographic
Which of the following is the most common approach to marketing organization?  | functional
Berman Electric, a chain of 18 appliance stores, has a marketing organization in which specialists head different marketing activities. What is this type of organization called?  | functional
Modern marketing departments are arranged in the following ways EXCEPT which one?  | strategic management organization
The ________ organizational system's main advantage is that the company is organized around the needs of specific market segments.  | market management
An increasingly large number of firms are changing their organizational focus from ________ to ________.  | brand management; customer management
Evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained is called ________.  | marketing control
The marketing control process entails the following steps in order: setting goals, ________, evaluating performance, and ________.  | measuring performance; taking corrective action
Which of the following is NOT a step in the marketing control process?  | defining the mission
Ensuring that the company achieves the sales, profits, and other goals set out in its annual marketing plan is the purpose of ________.  | operating control
Which of the following involves looking at whether a company's basic strategies are well matched to its opportunities?  | strategic control
Which of the following measures the profits generated by investments in marketing activities?  | marketing ROI
Which of the following would NOT be useful in determining marketing ROI?  | SWOT analysis
Monsanto operates in many businesses, including pharmaceuticals and food products. The company defines its ________ as creating "abundant food and a healthy environment."  | mission
When the makers of a ballpoint pen state they are in the communication equipment business, they are defining their mission too ________.  | broadly
Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets. Each business is called a ________.  | strategic business unit (SBU)
Starbucks has introduced a debit card that lets customers prepay for coffee and snacks. This effort by Starbucks management is an example of ________.   | market penetration
Walmart, the world's largest retailer, has successfully launched its stores in Mexico, Canada, the U.K., Germany, and other nations. This is an example of how Walmart is pursuing ________ as a growth strategy.  | geographic market development
Acme, Inc. has slightly modified the production processes of its widgets and gadgets in order to tap into the Eastern European market. Acme is likely following a ________ strategy.  | market development
Starbucks Coffee has recently begun selling and playing compilation CDs and is supporting its own XM satellite radio station. This represents which strategy for growth?  | diversification
Walmart relies on sound relationships with its low-cost suppliers in order to pass low prices on to consumers. Thus, forming a ________ is crucial to Walmart's success.  | value delivery network
For Hyundai Corporation, customers who care about the price of a car and its operating economy make up one ________.  | market segment
Paul Pendergraff has identified a group of potential customers who seem to respond in a similar way to a series of magazine and radio advertisements for his company's product. Paul has identified a(n) ________.  | market segment
Saturn is "a different kind of company, different kind of a car"; the Hummer is "like nothing else." Statements such as these reflect a firm's ________.  | positioning
Harris, the marketing manager at a small sports retail chain, has conducted a marketing analysis. He has investigated the company's internal resources and situational factors, as well as factors and trends in the competitive sports retail chain market. Which of the following has Harris completed?  | a SWOT analysis
Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt, hike, and bike ride. Its long-term plans include the development of lenses that, in addition to protecting users from UV rays, will also have effective water-sheeting action to reduce lens spotting. This new feature will be valuable to people who fish. In terms of a SWOT analysis, the company believes it can use the ________ of its reputation as a sunglass manufacturer for a specialized market in combination with its current manufacturing facilities and labor force to enter this new market.  | strengths
Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt, hike, and bike ride. Its long-term plans include the development of lenses that, in addition to protecting users from UV rays, will also have effective water-sheeting action to reduce lens spotting. This new feature will be valuable to people who fish. Serengeti has determined that fishing is one of the fastest growing sports in the United States. In terms of a SWOT analysis, Serengeti has recognized a market ________.  | opportunity
Emerson Studios, a chain of 25 portrait stores in five states, has organized its marketing organization into groups headed by a sales manager, an advertising manager, and a customer- service manager. What type of organization is this? | functional
The current mission statement of the Girl Scouts of America is to build "girls of courage, confidence, and character, who make the world a better place." The organization's former mission statement had read "to prepare young girls for motherhood and wifely duties." This change reflects the guideline that mission statements should be ________.  | market-oriented
The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. In order to increase market share, managers would be most likely to decide which of the following?  | use money from a cash cow to promote the pharmaceuticals division
Fence Patrol has developed an entirely new mounting system for chain link fences. Although it is a local company, through the acquisition of a distributor it now has the ability to market its products nationwide. Fence Patrol is most likely following a ________ strategy.  | market development
Of the following, it is most important for marketers to develop ________ for their products.  | unique market positions
Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?  | A company is more able to change a weakness than a threat.
h of the following is NOT a challenge presented by the product life cycle that a firm must face? | It is difficult to plot the stages as a product goes through them.	E
hat are the two ways that a company can obtain new products?  | new-product development and acquisition
roduct improvements, product modifications, and original products can all be classified as ________. | new products
hich of the following is NOT a potential reason for a new product to fail? | an underestimated market size 
our firm added three new products earlier this year to increase variety for customers. Two of them failed to reach even minimal sales. Which of the following is LEAST likely to have been the cause of their failure? | Research was too extensive.
ew-product development starts with ________. | idea generation
xecutives, manufacturing employees, and salespeople are all examples of ________. | internal sources for new-product ideas
our company decides to use only internal sources for developing new-product ideas. Which of the following would NOT be consulted? | suppliers
hich of the following is NOT a recommended method for companies to tap into their customers as sources for new-product ideas? | relying heavily on customers to know what types of technical products they need
Your firm asks you to consult external sources for new-product ideas. All of the following are common external sources EXCEPT ________. | the firm's executives	E
Which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new-product innovation process? | crowdsourcing
The purpose of idea generation is to create a ________ number of ideas. The purpose of succeeding stages is to ________ that number. | large number; reduce
The owners of GrayBerry Gifts have just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ________, to arrive at a realistic number to adopt. | idea screening
Which of the following is most likely to be included in an executive's write up of a new-product idea to be presented to a new-product committee? | the proposed customer value proposition
A detailed version of a new idea stated in meaningful customer terms is called a ________. | product concept
A ________ is the way consumers perceive an actual or potential product. | product image
An attractive idea must be developed into a ________. | product concept
________ calls for testing new-product concepts with groups of target consumers.  | Concept development
In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers. | physical or symbolic
With what groups do firms conduct concept testing for new products? | target customers
For some ________, a simple description consisting of a word or picture might be sufficient. | concept tests
After concept testing, a firm would engage in which stage in developing and marketing a new product? | marketing strategy development
The first part of the marketing strategy statement describes the target market; the planned product positioning; and goals for sales, profits, and ________. | market share
The second part of the marketing strategy statement outlines the product's planned price, distribution, and ________ for the first year. | marketing budget
The third part of the marketing strategy statement includes all of the following EXCEPT ________. | short-run sales
A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________. | business analysis
During which stage of new-product development will management most likely estimate minimum and maximum sales to assess the range of risk in launching a new product? | business analysis
Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process. | business analysis
New World Releases is conducting a business analysis to determine which of the many new songs available to management should be released. Sales must be estimated before costs can be estimated. Which of the following did your text recommend for forecasting sales? | considering the sales history of similar products and conducting surveys of market opinions
Once the product or service passes the business analysis test, it moves into what stage? | product development
In the ________ stage of new-product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.  | product development
In a ________, new products and marketing tactics are tested among specifically identified groups of customers and stores. | controlled test market
In a ________, new products and marketing tactics are tested online in a virtual shopping environment. | simulated test market
Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________. | test marketing
Bonneville Communications is concerned about test marketing its new device. Which of the following is NOT a disadvantage of test marketing that would likely concern Bonneville Communications? | People who are surveyed tend to tell less than the truth.
Under what circumstances might it be wise for a company to do little or no test marketing? | when the costs of developing and introducing the product are low	E
Many marketers are now using new interactive technologies, such as Frito-Lay's online virtual convenience store, to reduce the cost of ________. | test marketing	E
The major purpose of test marketing is to provide management with the information needed to make a final decision about ________. | whether to launch the new product
Introducing a new product into the market is called ________.  | commercialization
Which of the following costs is most likely associated with the commercialization stage of new-product development? | building or renting a manufacturing facility
A company getting ready to launch a new product must make several decisions. The company must first decide on ________.  | when to time the new product introduction
Following the decision to "time" the introduction of the new product, a company must decide ________ to launch the new product. | where
Using a ________, a company launches a product in a few regional markets and then expands based on how successful the product is. | market rollout
Which type of new-product development process focuses on finding new ways to solve customer problems and create more customer-satisfying experiences? | customer-centered new-product development
________ is a new-product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage.  | Sequential product development
In order to get their new products to market more quickly, many companies are adopting a faster, team-oriented approach called ________. | team-based new-product development
At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance work in a cross-functional group to save time and money in the new-product development process. Fantastic Flavors uses a(n) ________ approach. | team-based new-product development
The team-based new-product development approach uses cross-functional teams that overlap the steps in the process to achieve which of the following goals? | save time and increase effectiveness
Which of the following is a disadvantage of a team-based approach to new-product development? | Organizational confusion and tension can affect the process.
The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture, and it ________. | yields a larger number of new-product ideas
The search for new-product ideas should be ________ rather than haphazard. | systematic
________ is the product life cycle period when sales fall off and profits drop. | Decline
Increasing profits will most likely occur at which stage of the PLC? | growth
Which stage in the PLC is characterized by rapid market acceptance and increasing sales? | growth
Some products that have entered the decline stage have been cycled back to the growth stage through ________. | promotion or repositioning
All of the following are stages in the PLC EXCEPT ________. | adoption
Which stage of the typical consumer product life cycle is out of order below? | maturity
Which of the following CANNOT be described using the PLC concept?  | product image
All of the following are accurate descriptions of a style EXCEPT which one?  | Styles last only a short time and tend to attract only a limited following.
Sherri's Exclusives sells currently accepted and popular clothing items in given fields. What does she stock in her store? | fashions
The PLC concept can be applied by marketers as a useful framework for describing how ________. | products and markets work
Using the PLC concept to develop marketing strategy can be difficult because strategy is both a ________ and a(n) ________ of the product's life cycle. | cause; result
In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?  | introduction
In which stage of the PLC will promotional expenditures be high in an attempt to respond to increasing competition? | growth
Which stage in the PLC normally lasts longest and poses strong challenges to the marketing managers? | maturity
Which of the following would lead to greater competition in the maturity stage of the PLC? | overcapacity
Most products in the marketplace are in the ________ stage of the product life cycle. | maturity
When a product is in the maturity stage, the company should consider ________. | modifying the product, market, or marketing mix
Which of the following best represents the options a company has when a product is declining?  | maintain, harvest, or drop the product
Superior Luggage Company has undertaken the task of identifying its products in the decline stage of the PLC. Which of the following should NOT be done in the identification process? | regularly reviewing management's pet projects
Manufacturers must comply with specific laws regarding ________. | product quality and safety
Because of ________, a company cannot make its product illegally similar to a competitor's already established product. | patent laws
Which of the following best describes the role of a product steward? | A and D
The advantages of standardizing an international product include all of the following EXCEPT ________. | the adaptation of products to different markets
Because names, labels, and colors may not easily translate from one country to another, international marketers must carefully assess ________. | packaging
________ occurred when Alton Johnson's fascination with the fruits of Brazil led him to develop juices with new fruit flavors by Bosa Nova for the American market.  | Idea generation 
Which of the following is the most likely reason that employees at your firm regularly attend trade shows and seminars? | to get new-product ideas
JoAnn Fabrics, Inc. has just created a new combination of colors and fabric types. The firm wants to be sure of the way consumers think about its new product. The firm is concerned with the product ________. | image
Which of the following is a product concept? | a thin, lightweight laptop with extended battery life appealing to students and young professionals who want access to their computer anywhere, anytime
A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way to approach this problem proactively. They came up with an idea for a pair of blurry goggles. They believed looking through the goggles would simulate what the world looks like when someone is seriously intoxicated. The first crude pair of blurry goggles developed by the entrepreneurs to show to prospective customers was ________.  | a prototype 
P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This act illustrates ________.  | one of the problems associated with test marketing 
Yummy Peanut Butter has a new peanut butter and bacon product and finds a small number of representative test cities. The company plans to use the results to forecast national sales and profits. Yummy is using ________. | standard test markets
P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new-product development process before P&G could.  | commercialization 
Flurrbies, a brand of winter accessories that fell in and out of favorability with customers quickly, is an example of a ________. | fad
Big Moose Toys is a market pioneer introducing a modern version of Bullwinkle the Moose, a character from an animated television series originally broadcast in the '50s and '60s. The company's version of Rocky the Flying Squirrel, another character from the show, targeted to baby boomers was a strong success. They need to make the new launch strategy for Bullwinkle consistent with the intended ________. | product position
Apple's iPod has been called "one of the greatest consumer electronics hits of all time." More than 120 million iPods have been sold, and the iPod captures more than 70 percent of the music player market. This success has attracted many large, resourceful competitors. The iPod is in the ________ stage of the product life cycle. | maturity
Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.  | maturity
Over the past 100 years or so, Binney and Smith's Crayola crayons have become a household staple in more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.  | maturity
When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was ________.  | modifying the product
P&G has sold off a number of lesser or declining brands such as Oxydol detergent and Jif peanut butter. In these examples, management decided to ________ the products.  | drop
When Kraft focused on cost-cutting with its older and established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products. | harvest
CellTones, a new company selling several lines of cellular phones, has closely modeled its products after successful products that are already in the marketplace. As it prepares to enter the market with its new products and services, which of the following should concern CellTones the most? | patent laws
Which of the following statements best explains why idea screening may be the most important step of new-product development? | It saves the company money in product development costs by giving the green light to only the product ideas that are likely to be profitable.	E
Although test marketing costs can be high, they are often small when compared with ________. | the costs of a major mistake
Anita's DayCare plans to offer third-shift childcare, based upon the opening of two new manufacturing plants in the area. Together the plants will hire 423 employees and run all three shifts. Initial test marketing results look promising. In considering launching this new service, Anita must first decide on ________. | timing
Atlas Steel Corporation lacks the confidence, capital, and capacity to launch its new steel product into full national or international distribution. Test market results look promising, so what should be management's next step? | develop a planned market rollout over time
It's What's Hip, a chain of 18 music and CD stores, has discovered that carrying a weak product during the decline stage of the PLC can be very costly to a firm, and not just in profit terms. Which one of these is NOT likely to be one of those costs? | requires too much focus on new-product development
Evelyn's ________ is the practical use of solar power in a vacuum cleaner that is designed to effortlessly sweep the floors of on-the-go and elderly consumers. | product concept
When Evelyn set up a demonstration booth to learn about consumers' feelings toward her vacuum cleaner, she was doing which of the following? | concept testing
Evelyn's vacuum is at the ________ stage of the product life cycle. | product development
In which of the following ways is Boeing like most other large companies? | Most of its business comes from commercial and industrial customers
As a purchasing agent, Benni Lopez buys goods and services for use in the production of products that are sold and supplied to others. Benni is involved in ________. | business buyer behavior
Business buying behavior refers to the buying behavior of organizations that buy all of the following EXCEPT ________. | products purchased for personal consumption
In one way or another, most large companies sell to ________. | other organizations
When compared to consumer markets, business markets are ________. | huge
Which of the following is NOT a way that business and consumer markets differ? | satisfaction of needs through purchases
There are many sets of ________ purchases made for each set of ________ purchases. | business; consumer
Which of the following is true about business marketers in comparison to consumer marketers? | They deal with far fewer but far larger buyers.
Hewlett-Packard and Dell buy Intel microprocessor chips because consumers buy personal computers. This demonstrates an economic principle called ________. | derived demand
The Pure Drug Company produces insulin, a product with a very stable demand, even though the price has changed several times in the past two years. Insulin is a product with ________ demand. | inelastic
The demand for many business goods and services tends to change more, and more quickly, than the demand for consumer goods and services does. This is referred to as ________ demand. | fluctuating
Large business purchasers usually call for detailed product specifications, written purchase orders, careful supplier searches, and formal approval. These are all examples of how the business buying decision process is more ________ than the consumer buying decision process is. | formalized
The owners of the company you work for have developed a core network of suppliers they are working closely with to ensure an appropriate and dependable supply of products. This is an example of ________ management. | supplier development
Although there are many differences between business buying behavior and consumer buying behavior, both respond to the same four stimuli: product, price, promotion, and ________. | place
Economic, technological, and political factors are all ________ that affect the business buying process. | environmental factors
In a typical organization, buying activity consists of two major parts: the buying ________ and the buying ________. | center; decision process
Which business buying situation is the marketer's greatest opportunity and challenge? | new task
In which type of buying situation would a supplier most likely focus on maintaining product and service quality? | straight rebuy
You just lost a major account because a competitor provided the most complete system to meet the customer's needs and solve the customer's problems, and made the sale. In other words, the competition beat you with ________. | solutions selling
Another name for systems selling is ________ selling. | solutions
The decision-making unit of a buying organization is called the ________. | buying center
A ________ consists of the actual users of products, those who control buying information, those who influence the decisions, those who do the actual buying, and those who make the buying decisions. | buying center
In routine buying situations, which members of the buying center have formal or informal power to select or approve the final suppliers? | deciders
A(n) ________ controls the flow of information to others in the buying center. | gatekeeper
Don Amspacher, in his role on the buying committee, provides information for evaluating the alternative purchase decisions and helps define and set specifications for evaluating alternatives for purchasing. Don is a(n) ________. | influencer
Gretchen Kabor has formal authority to select the suppliers and arrange terms of purchase for many of the items her firm uses. Her role in the buying center is that of ________. | buyer
A buying center is not a fixed, formally identified unit within an organization, but rather a set of ________ assumed by different people for different purchases. | buying roles
Which of the following is NOT included in the decision-making unit of a buying organization? | individuals who supply the product
Which of the following statements about buying centers is true? | The buying center may involve informal participants who are not obvious to sellers
When suppliers' offers are very similar, business buyers have little basis for a strictly ________. | rational choice
When competing products differ greatly, business buyers are more accountable for their purchase choices and tend to pay more attention to ________. | economic factors
Buyers are heavily influenced by the current and expected economic environment. That includes which of the following buyer influences? | all of the above
To ensure an adequate and available supply of key scarce materials, many companies are now willing to ________. | buy and hold large inventories of the materials
The major influences on the buying process at General Aeronautics include company policies and systems, technological change, and economic developments. The types of influences on the buying process in this scenario are most accurately categorized as ________ and ________. | organizational; environmental
Which of the following types of factors influencing members of a buying center are typically the most difficult for marketers to assess? | interpersonal
Policies, procedures, and systems are all examples of ________ influences on business buyer behavior. | organizational
Which of the following accurately describes a cultural difference international marketers should be aware of? | Japanese people tend to put a high value on rank.
Which of the following is the best advice for an international marketer planning to interact with businesspeople from many different cultures? | Cultures really are different, so do your best to learn about those differences.
Status, empathy, and persuasiveness are all examples of ________ influences on business buyer behavior. | interpersonal
Charlie Van Dusen, executive vice president of National Central Bank, is going through all of the stages of the buying process to purchase a computer system for the bank. Charlie is facing a(n) ________ situation. | new-task buying
Which of the following is an example of an internal stimulus that might lead to the business buying process stage of problem recognition? | A buyer is unhappy with a current supplier's price.
The first step of the business buying process is ________. | problem recognition
Business marketers often alert customers to potential problems and then show how their products provide solutions. These marketers are hoping to influence which stage of the business buying process? | problem recognition
The purchasing agent at your company is working with engineers and users to define the items to purchase by describing general characteristics and quantities needed. He is also ranking the importance of reliability, durability, and price. The buyer is preparing a(n) ________. | general need description
In which stage of the business buying process is a supplier most likely to provide a buyer with information about the importance of different product characteristics? | general need description
Which of the following is the process of the buying center deciding on the best product characteristics? | product specification
During which stage of the business buying process is a buyer most likely to conduct a value analysis, carefully studying components to determine if they can be redesigned, standardized, or made less expensively? | product specification
Empire Products has begun a process to find the best suppliers. Empire Products is actively engaged in ________. | supplier search
A buyer would be most likely to review trade directories in which stage of the business buying process? | supplier search
In the generally accepted stages of the business buying process, the step following product specification is ________. | general need description
In the generally accepted stages of the business buying process, the step following problem recognition is ________. | general need description
Members of the buying center at ABC Kid's World are drawing up a list of desired toy supplier attributes and their relative importance. Next, they intend to compare several suppliers to these attributes. In which step of the business buying process is the buying center at ABC Kid's World engaged? | supplier selection
Which of the following statements about the supplier selection stage of the business buying decision process is true? | Before selecting a supplier, many companies consider the supplier's reputation for ethical corporate behavior and honest communication.
During the ________ stage of the business buying decision process, the buying center assesses the proposals. | supplier selection
In the case of maintenance, repair, and operating items, buyers may use a ________ rather than periodic purchase orders. | blanket contract
In which stage of the business buying process is it a supplier's task to make sure that the supplier is giving the buyer the expected satisfaction? | performance review
Which of the following is the last stage of the business buying process? | performance review
58) Under a ________, a supplier monitors and replenishes a buyer's stock automatically as needed. | vendor-managed inventory
Instead of focusing on individual purchases, a seller should focus on managing the ________. | total customer relationship
Which of the following can be especially useful for a company that needs to conduct secure and frequent communications and transactions with key suppliers? | an extranet
Reverse auctions, trading exchanges, and company buying sites are all ways that companies can participate in ________. | e-procurement
Using a(n) ________, a company puts its purchasing requests online and invites suppliers to bid for the business. | router
The Bentley department store chain makes extensive use of e-procurement. As a buyer, the store should expect to enjoy all of these benefits of e-procurement EXCEPT ________. | more time for purchasing agents to focus on strategic issues
B-to-B e-procurement yields many benefits. These include all of the following EXCEPT ________. | elimination of inventory problems
A problem with the rapidly expanding use of e-purchasing is that it ________. | can erode established customer-supplier relationships
The leading barrier to expanding electronic links with customers and partners online is ________. | concern over security
A firewall is a(n) ________. | commonly used technique to safeguard Internet and extranet transactions
Which of the following statements about e-procurement security issues is true? | Providing e-procurement security can involve a substantial financial investment from a company.
Sage, Inc. provides food services to schools, hospitals, and nursing homes in the Midwest. Management at Sage is involved in the ________ market. | institutional
Many institutional markets are characterized by ________ and ________. | low budgets; captive patrons
Government organizations tend to favor ________ suppliers over ________ suppliers. | domestic; foreign
All of the following are difficulties associated with selling to government buyers EXCEPT ________. | low sales volume
There are many factors considered in government buying, but ________ is typically the most important. | price
Total government spending is determined by ________ rather than by any ________ to develop this market. | elected officials; marketing effort
The world's largest buyer of products and services is ________. | the U.S. government
Which of the following is NOT part of the business market? | Airmark sells a vinyl printing press to a manufacturer of plastic bags
Giant Food Stores buys a lot of frozen turkey products at Thanksgiving and Christmas due to high consumer demand. This is an example of ________ demand. | derived
Demand for outboard motors depends on consumers purchasing fishing boats. This is an example of ________ demand. | derived
ABC Enterprises sold 9,000 units @ $2.99/unit in July. The firm sold 9,000 units @ $4.29/unit in August. This illustrates ________ demand. | inelastic
UPS serves both consumer and business markets, but most of its revenues come from its business customers. UPS has become a strategic logistics ally for many of its business customers, going far beyond offering delivery services to offering inventory management, international trade management, and even financing to its commercial customers. This is an example of which of the following differences between the consumer and business markets? | Buyers and sellers in the business market build close, long-term relationships.
You call in a department manager to assist in a purchase of industrial equipment. You are considering a change in product specifications, terms, and possibly suppliers. This is most likely a ________ situation. | modified rebuy
You regularly purchase cleaning supplies for your custodial staff, using the same vendor and ordering relatively consistent amounts of the same products with each purchase. This is an example of a ________ situation. | straight rebuy
Worthington Farm raises chickens. For years, it has used wooden coops to haul its poultry to market. The owner of the farm needs to buy some replacement coops and is considering buying plastic coops that are slightly more expensive than wooden ones but much easier to clean after use. This purchase of coops is an example of a ________. | modified rebuy
The EPA has mandated that, in order to reduce local pollution, your printing plant switch from oil-based to water-based inks. This will require entirely new printing presses and a new printing plate technology. After carefully searching through numerous manufacturers' equipment descriptions and gathering opinions from all relevant parties related to the work, your printing plant's buying center will be ready to make this ________ purchase. | situational analysis
Don Brady is responsible for obtaining price quotations from various vendors. After reviewing them, Don then determines whether or not to include the vendor on the approved vendor list. Don apparently plays two roles, that of ________ and ________. | decider; buyer
One of Dr. Albrecht's dental assistants told the dentist he should buy a machine that would sterilize his tools without using any water because water tends to cause the tools to rust or corrode over time. In terms of the buying center, the dental assistant had the role of ________. | influencer
One of Dr. Albrecht's dental assistants told the dentist he should buy a machine that would sterilize his tools without using any water because water tends to cause the tools to rust or corrode over time. Dr. Albrecht, who runs a solo practice in a small rural town, located some articles on the chemical sterilizer and read about how the machine works. After gathering more information and talking to salespeople, Dr. Albrecht placed his order for the machine. In terms of the buying center, Dr. Albrecht had the role of ________. | decider
A trucking company is considering purchasing new trucks that are powered by ethanol instead of diesel fuel. In terms of the buying center, the truck drivers who must make sure that the trucks do not run out of fuel are the ________. | users
Worthington Farm raises chickens. For years, it has used wooden coops to haul its poultry to market. When Bob Worthington went to reuse some of his coops, he noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Worthington was at which stage of the business buying process when he decided to replace his old coops? | problem recognition
John Herr's company has standardized the size of its paper bags so that each bag can be used in five to seven different store departments. This approach to cost reduction likely took place in the ________ stage of the business buying process. | product specification
Most newspapers use ________ so they do not need to rely on only one supplier to provide the tons of paper that they use annually. | multiple sourcing
Pace Hardware uses Learningnow.com to improve sales force effectiveness and facilitate sharing of expertise. It allows Pace retailers to link with other Pace retailers to ask for managerial and marketing advice. It also allows Pace retailers to ask their suppliers about product usage, deliveries, and warranties, and it allows suppliers to send new-product information directly to Pace retailers. In this scenario, Pace Hardware is using a(n) ________. | extranet
Which of the following was most likely being used when Boeing received orders for $100 million in spare parts in the first year its Web site was in operation? | e-procurement
All of the following organizations are likely considered to be a part of the institutional market EXCEPT ________. | Lancaster Township
Which of the following is most likely true about a straight rebuy? | It often involves products with low risks.
In what type of buying situation would a seller most likely send only a catalog to the buyer during the proposal solicitation stage of the business buying process? | straight rebuy
The demand for A-1 Stampings' products is ultimately based on the demand for new automobiles in the consumer market. This is an example of ________ demand. | derived
In this scenario, which of the following had the greatest influence on the business buying behavior at A-1 Stampings? | technological changes
The management directive to reduce the number of steel suppliers is most accurately classified as which type of influence affecting business buying behavior? | organizational
At what stage in the buying process was Richard when he sought input from others in the firm? | supplier selection
________ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. | Retailing
In recent years, ________ has been growing fast. This includes selling to final consumers through direct mail, catalogs, telephone, and the Internet. | nonstore retailing
________ is the basis of all discount operations and is typically used by sellers of convenience goods. Retailers offering this level of service require customers to perform their own "locate- compare-select" process in order to save money. | Self-service
________ such as Sears provide more sales assistance because they carry more shopping goods about which customers need information. Their increased operating costs result in higher prices. | Limited-service retailers
Which type of stores usually carry more specialty goods for which customers like to be "waited on" and have much higher operating costs, which are passed along to the customer? | full-service stores
At Neiman Marcus, a first-class department store, customers shop for high-end products and have come to expect assistance in every phase of the shopping process. Neiman Marcus is a ________. | full-service retailer
Which of the following types of retailers likely requires their employees to focus most on assisting customers as they shop? | full-service retailers
________ are flourishing due to increased use of market segmentation and market targeting. | Specialty stores
Specialty stores carry ________ with ________ within them. | narrow product lines; deep assortments
Which type of store carries a wide variety of product lines and differentiates itself through service, but has been squeezed in recent years between more focused and flexible specialty storeson the one hand and more efficient, lower-priced discounters on the other? | department
________ are facing slow sales growth because of slower population growth, increased competition, and the rapid growth of out-of- home eating. | Supermarkets
Which type of retailer tends to be the most frequently shopped? | supermarkets
Which type of small store carries a limited line of high-turnover convenience goods and makes most of its revenues from cigarette, beverage, and gasoline sales? | convenience
Which type of store is much larger than regular supermarkets and offers a large assortment of routinely purchased food products, nonfood items, and services? | superstore
Which type of store carries a deep assortment, has knowledgeable staff, and might actually be viewed as a giant specialty store? | category killer
Service retailers include all of the following EXCEPT ________. | hotels and motels
________ retailers in the United States are growing faster than product retailers. | Service
________ sell standard merchandise at lower prices by accepting lower margins and selling higher volume. | Discount stores
Early ________ cut expenses by offering few services and operating in warehouse-like facilities in low-rent, heavily traveled districts. | discount stores
________ have filled the ultralow-priced, high-volume gap by buying at less-than- regular wholesale prices and charging consumers less than retail. | Off-price retailers
Which of the following is NOT one of the main types of off-price retailers? | category killers
________, which buy at less-than- regular wholesale prices and charge consumers less than retail, are independently owned and run or are divisions of larger retail corporations. | Independent off-price retailers
________ are sometimes several stores grouped together. These stores offer prices as low as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular items. | Category killers
________ operate in warehouse-like facilities, sell a limited selection of items, and offer few frills. Customers pay annual membership fees and are able to purchase goods at deep discounts. | Superstores
_______ are two or more outlets that are commonly owned and controlled. | Chain stores
As a result of the great success of corporate chains, many independent stores choose to band together in either a voluntary chain or a(n) ________. | retailer cooperative
The main difference between ________ organizations and other contractual systems is that these systems are normally based on some unique product or service. | franchise
McDonald's, Subway, and Pizza Hut are all examples of a ________. | franchis
All of the following are accurate descriptions of modern marketing EXCEPT which one? | Selling and advertising are synonymous with marketing.
According to management guru Peter Drucker, "The aim of marketing is to ________." | make selling unnecessary 
________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation and exchange. | Marketing
Which steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships? | the first four only
According to the simple five-step model of the marketing process, a company needs to ________ before designing a customer-driven marketing strategy. | understand the marketplace and customer needs and wants
________ are human needs as shaped by individual personality and culture. | Wants
When backed by buying power, wants become ________. | demands
A(n) ________ is some combination of products, services, information, or experiences offered to consumers to satisfy a need or want. | market offering
Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs? | marketing myopia
When marketers set low expectations for a market offering, the biggest risk they run is ________. | failing to attract enough customers
________ is the act of obtaining a desired object from someone by offering something in return. | Exchange
A(n) ________ is the set of actual and potential buyers of a product. | market
Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities. | marketing
The art and science of choosing target markets and building profitable relationships with them is called ________. | marketing management
Selecting which segments of a population of customers to serve is called ________. | target marketing
Which of the following is the set of benefits a company promises to deliver to customers to satisfy their needs? | a value proposition
Which customer question is answered by a company's value proposition? | "Why should I buy your brand rather than a competitor's?"
Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain? | production concept
Which of the following marketing management concepts is most likely to lead to marketing myopia? | product
According to the production concept, consumers will favor products that are ________ and ________. | available; affordable
The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features. | product
The product concept says that a company should do which of the following? | focus on making continuous product improvements
"Build a better mousetrap and the world will beat a path to your door" reflects the ________ concept. | product
Which marketing orientation calls for aggressive promotional efforts and focuses on generating transactions to obtain profitable sales? | selling concept
Which marketing orientation holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do? | marketing concept
According to the authors of your text, the ________ concept is a "sense and respond" philosophy rather than a "make and sell" philosophy. | marketing 
A firm that uses the selling concept takes a(n) ________ approach. | inside-out
Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization. Having a customer department rather than a marketing department, as suggested by Kelleher, is an example of a(n) ________ perspective. | outside-in
Though often criticized, the selling concept is particularly appropriate and effective with which of the following types of products? | unsought
Which of the following reflects the marketing concept philosophy? | "We don't have a marketing department; we have a customer department."
Customer-driven marketing usually works well when ________ and when customers ________. | a clear need exists; know what they want
Marie Ortiz enjoys her work at Futuristic Designs, Inc. Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future wants and demands. Marie's firm practices ________ marketing. | customer-driving
When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing. | customer-driving
The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________. | long-run welfare
Which marketing orientation holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well-being? | societal marketing concept
The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests, and ________. | company profits
The set of marketing tools a firm uses to implement its marketing strategy is called the ________. | marketing mix
Building, keeping, and growing profitable relationships by delivering customer value and satisfaction is called ________. | customer relationship management
Of the following, which is the most important concept of modern marketing? | customer relationship management
You have just taken a new position in an organization and you're learning about the job functions of your new colleagues. You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships. Your marketing manager frequently speaks about the need to acquire, keep, and grow customers. Your manager is concerned with which one of the following? | customer relationship management
Customer-perceived value is determined by a customer's ________ of the benefits and costs of a market offering relative to those of competing offers. | personal assessment
It is most accurate to say that customers buy from stores and firms that offer which of the following? | the highest customer-perceived value
The key to delivering customer satisfaction is to match ________ with ________. | customer expectations; product performance
Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service? | customer evangelists 
Which of the following strategies would a company most likely use to increase customer satisfaction? | lowering prices
You are an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship would be most profitable for you to develop with these customers? | basic relationships
A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of a ________. | frequency marketing program
Pete Sanchez, a recent graduate of business school, has a different approach than his marketing manager, who believes in keeping customers at arm's length and using mass media advertising. Pete knows that today few successful firms still practice true ________. | mass marketing
Which of the following has NOT contributed to the deeper, more interactive nature of today's customer relationships? | traditional advertising
Which of the following best explains why consumers have greater power and control in today's marketplace? | Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers.
The marketing world is embracing ________ because consumers can wield greater power and control in the marketplace through communication technologies. | customer-managed relationships
Greater consumer control means that companies must rely more on marketing by ________ than by ________. | attraction; intrusion
Which of the following is an example of consumer-generated marketing? | MasterCard's use of "Priceless" commercials shot by customers
Partner relationship management focuses on working with ________ to bring more value to customers. | partners inside and outside of the company
In today's world, marketing should be done by ________ employees in an organization. | all
Through ________, many companies today are strengthening their connections to all partners, from providers of raw materials to components to final products that are delivered to final buyers. | supply chain management
Suzie Chan strengthens her company's connections by treating suppliers of raw materials, vendors, and distributors as partners in delivering customer value. What type of management is she practicing? | supply chain
The final step in the marketing process is ________. | capturing value from customers
Stew Leonard, the owner of a highly successful regional supermarket chain, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if she remains in the area. Stew Leonard's concern is an illustration of which of the following? | customer lifetime value
When an airline goes after a "share of travel" from its customers, it is attempting to increase ________. | share of customer
Beyond simply retaining good customers, marketers want to constantly increase their "share of customer." What does this mean in marketing terms? | Marketers want to increase the share they get of the customer's purchasing in their product categories.
________ is one of the best ways to increase share of customer. | Cross-selling
Amazon.com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other items. Based on previous purchase history, the company recommends related CDs, books, videos, or other products that might interest a customer. This most directly helps Amazon.com capture a greater ________. | share of customer
Which of the following is the total combined customer lifetime values of all a company's current and potential customers? | customer equity
The ultimate aim of customer relationship management is to produce ________. | customer equity
A potentially highly profitable, short-term customer is a ________. | butterfly
Customers can be classified into four relationship groups, according to their profitability and projected loyalty. Which type of customers have the highest profit potential and strong loyalty? | true frie
Afia, a team leader in charge of customer relationship management, is planning strategies for improving the profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong? | barnacles
Since the beginning of the Great Recession, marketers have been emphasizing the ________ of their products more than ever. | value
Which of the following has been the most common consumer response to the economic downturn that began in 2008? | spending less and choosing products more carefully
Which of the following is a true statement about the Great Recession that began in 2008? | Consumers brought spending more in line with their incomes.
Which of the following statements about the Internet is most accurate? | The Internet makes it easy for consumers to view, interact with, and create marketing content.
Which version of the Web has introduced small, fast, and customizable applications that can be accessed through multifunction mobile devices? | Web 3.0
Which of the following is currently the fastest-growing form of marketing? | online marketing
As part of the rapid globalization of today's economy, companies are selling more locally produced goods in international markets and ________. | purchasing more supplies abroad
Which of the following is most essential to any definition of marketing? | customer relationships
Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months. Greg's want now has become a(n) ________. | demand
Cathy's Clothes is a small retail chain successfully selling women's clothing and accessories with a profitable focus on buyers who have relatively modest means. This is an example of ________. | target marketing
An organic farmer has identified three distinct groups who might be interested in his products: vegetarians, people who are concerned about chemicals in their foods, and people who consider themselves innovators and trendsetters. These three groups are examples of ________. | market segments 
Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing their future funeral needs, and she must somehow first get their attention. Jolene's firm most likely practices the ________. (promotion) | selling concept
Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept. | production
Railroads were once operated based on the thinking that users wanted trains rather than transportation, overlooking the challenge of other modes of transportation. This reflects the ________ concept. | product
Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy. | societal marketing concept
FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with any other costs of using the service, they are acting upon ________. | customer-perceived value
Sally purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations for Brand X lotion, Sally was measuring her level of ________. | customer satisfaction
The Niketown running club that organizes twice weekly evening runs and follow-up meetings in the Nike Store is an example of which of the following? | a club marketing program
Elisandra, a marketing manager at a regional chain restaurant, has decided to sponsor a contest calling for customers to create commercials for the restaurant. Winning entries will be posted on the organization's home page. Elisandra's plan is an example of ________. | consumer-generated marketing
Kao Corp., which makes Ban deodorant, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ________. | consumer-generated content
At Gina's Nails, the posted policy is "Without our customers, we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on ________. | capturing customer lifetime value
Ben & Jerry's challenges all stakeholders, including employees, top management, and even ice cream scoopers in their stores, to consider individual and community welfare in their day-to-day decisions. Actions such as this by companies seizing the opportunity to do well by doing good reflects ________. | social responsibility
A church targeting different demographic groups to increase attendance is an example of ________. | not-for-profit marketing
Your state's department of education has budgeted a significant amount of money for a radio, print, television, and online advertising campaign emphasizing the long-term benefits, both educationally and professionally, of reading every day. This is an example of a(n) ________ campaign. | social marketing
Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers? | Not all customers will be satisfied.
Which of the following reflects the marketing concept? | "This is what I want; won't you please make it?"
In which of the following situations has a company most actively embraced customer-managed relationships? | iRobot invites enthusiastic Roomba owners to develop and share their own programs and uses for the company's robotic vacuum.
When the economy tightens, customer loyalty and customer retention become ________ for marketers. | more important
Which of the following groups is specifically part of Seagull Terrace's target market? | seasonal business travelers
Carol Veldt's use of "promotional gimmicks" is an example of the ________ concept. | selling
Renovations of the guest rooms at the Seagull Terrace and plans to add an indoor pool area are examples of the ________ concept. | product
Carol Veldt has decided to ask selected guests to participate in an extensive survey about their experience at Seagull Terrace and about their most desired amenities and vacation experiences. By implementing the suggestions she receives from guests, Carol would be following the ________ concept. | marketing
The communicator must decide how to handle message structure issues. One issue is whether to ________ or not. | draw a conclusion
A(n) ________ argument is only likely to be effective when the audience is highly educated or likely to hear opposing claims or when the communicator has a negative association to overcome. | two-sided
Which of the following represent(s) a two-sided message? | A and B
In designing the message structure, marketers must decide whether to present the ________ arguments first or last in a message. | strongest
A marketer is making decisions about the headline, copy, illustration, and colors for a print ad. The marketer is making decisions about the ________. | message format
The two broad types of ________ channels are personal and nonpersonal. | communication
Communication through the mail is categorized as a(n) ________ communication channel. | personal
Creating word-of-mouth campaigns by cultivating opinion leaders and getting them to spread information about a product or service to others in their communities is known as ________. | buzz marketing
Nonpersonal communication channels include major media, ________, and events. | atmospheres
Vast numbers of consumers are aware of your product. It is now your goal to enhance preference for your product. You plan to use nonpersonal communications through print media and display media. This will include all of the following EXCEPT ________. | Internet "chats"
To ________, a marketer can ask target audience members whether they remember the message, how many times they saw it, and what points they remember. | collect feedback
________ from marketing communications may suggest changes in the promotion program or in the product offer itself. | Feedback
Companies use all of the following methods to set their advertising budget EXCEPT the ________. | integrated method
Using the ________ method for setting an advertising budget, the company starts with total revenues, deducts operating expenses and capital outlays, and then devotes some portion of the remaining funds to advertising. | affordable
Though the ________ method of setting an advertising budget is simple to use and helps management think about the relationships among promotion spending, selling price, and profit per unit, it wrongly views sales as the cause of promotion rather than the result. | percentage-of-sales
Which method of setting an advertising budget is based on analyzing competitors' spending? | competitive-parity method
Perhaps the most logical budget-setting method is the ________ method because it is based on spending necessary to accomplish specific promotion goals. | objective-and-task
Advertising has some shortcomings. What is NOT one of them? | It slowly reaches many people.
________ is the company's most expensive promotion tool. | Personal selling
Which promotional tool is most effective in building up buyers' preferences, convictions, and, most importantly, actions? | personal selling
Sales promotion features a wide assortment of tools. Which of the following is NOT one of these tools? | catalogs
"Buy it now" is the message of ________. | sales promotion
________ consists of strong short-term incentives that invite and reward quick responses from customers. | Sales promotion
________ is very believable because news stories, features, sponsorships, and events seem more real and believable to readers than ads do. | Public relations
Which promotional tool is described as nonpublic, immediate, customized, and interactive? | direct marketing
Which promotional mix strategy directs marketing efforts toward final consumers? | pull
Which promotional mix strategy directs marketing efforts toward market channel members? | push
Business-to-consumer companies are more likely to emphasize a ________ promotion strategy, while business-to-business companies are more likely to emphasize a ________ promotion strategy. | pull; push
In the introduction stage of the product life cycle, a combination of ________ is best for producing high awareness. | advertising and public relations
Which of the following would be classified as bait-and-switch advertising? | advertising a cheaper brand but only making a more expensive one available to customers
A company's salespeople should always follow the rules of ________. | fair competition
The FTC has adopted a three-day cooling-off rule to give special protection to ________. | customers who were not seeking a product
A.Y. McDonald, a manufacturer of pumps and plumbing valves, employs regional salespeople to sell its products to wholesalers and cities. This is an example of ________. | personal selling
Harpo Enterprises maintains the Oprah Winfrey show, a Web site, and O magazine. Because Harpo Enterprises practices integrated marketing communications, these different brand contacts all maintain ________ in design and tone. | consistency
Delia's is a clothing retailer that targets teenage girls. It runs coordinated promotions for its catalogs, Web site, and retail outlets. It uses the same models in its catalog and in its print ads as well as on its Web site. Delia's works to make sure its public relations activities as well as its sales promotions harmonize with its advertising in all venues. From this information, you can infer that Delia's is using ________. | integrated marketing communication
HP's advertising agency assembles words and illustrations into an advertisement that will convey the company's intended brand message. In the communication process, HP is ________. | encoding
The decision to use a cleaning genie to communicate the strength and power of Mr. Clean cleaning liquid is representative of the ________ process of the communication model. | encoding
In the communication process, an actual HP printer/fax machine advertisement is called ________. | the message
An ad for Maybelline age-minimizing makeup in Ladies' Home Journal magazine featured actress Melina Kanakaredes and offered readers a $1-off coupon when they try the new makeup. In terms of the communication model, the sender of this message is ________. | Maybelline
An ad for Maybelline age-minimizing makeup in Ladies' Home Journal magazine featured actress Melina Kanakaredes and offered readers a $1-off coupon when they try the new makeup. In terms of the communication model, the medium of this ad is ________. | Ladies' Home Journal
Mercy University's initial ads for the school's new MBA program are most likely intended to create ________. | awareness
When a car maker wants to introduce a new model, it is most likely to begin with an extensive ________ advertising campaign to create name familiarity and interest. | teaser
An example of a(n) ________ appeal is the Salvation Army appeal, "While you are trying to figure out what to get the man who has everything, don't forget the man who has nothing." | moral
A manufacturer of a variety of technological devices asked its marketing department to develop inexpensive methods of building and maintaining brand awareness and excitement. The marketing department then recruited consumers who were early adopters of technological devices to spread the word about the company's new products. This is an example of ________. | buzz marketing
Toward the end of the fiscal year, the owner of a small company came back from lunch concerned because he had learned that a business targeting the same customers as his was planning on spending $150,000 on promotion. As soon as he arrived at the office, he called his financial manager and said, "I want to budget $150,000 for next year's promotion." Which method of promotional budgeting did the owner want to use? | the competitive-parity method
An e-mail from Amazon.com offers free shipping on your next purchase of more than $35. This is an example of ________. | sales promotion
A newspaper article announced that VoiceStream Wireless, the nation's sixth-largest wireless carrier, was changing its name to T-Mobile and that to begin the makeover process it had replaced spokesperson Jamie Lee Curtis with Catherine Zeta-Jones. Of which element of the promotion mix is this an example? | public relations
An ad in a professional journal targeted to an audience of dentists asked dentists to recommend Crest toothpaste to their patients. It offered toothpaste samples that dentists could buy at cost to give to their patients to encourage patients to take better care of their teeth. The manufacturer of Crest toothpaste was using ________. | a push strategy
Glasis is a type of paint made specifically for use on cars. An ad in Motor Trend magazine advising consumers to request their body shops use Glasis paint is an example of how a company uses ________. | a pull strategy
Management of a company that adheres to the principle of integrated marketing communications is most likely to believe which of the following? | The use of multiple marketing communications channels is advantageous.
Tara Keegan owns Live Well, a small chain of health stores offering a variety of natural health products and related services. In order to implement integrated marketing communications, Tara has hired a marketing communications director, whose job it will be to ensure that each ________ will deliver a consistent and positive message about the company. | brand contact
An ad for Maybelline age-minimizing makeup in Ladies' Home Journal magazine featured actress Melina Kanakaredes and offered readers a $1-off coupon when they try the new makeup. In terms of the communication model, which of the following would be the best way for the source to measure feedback? | the number of people who redeem the coupon
Mariah Goldberg, a marketing manager for a manufacturer of children's toys, is looking for ways to reach potential customers who typically avoid salespeople and advertisements. Which of the following would be the most economical promotional tool for Mariah to use? | public relations
Clean and Clear, a large producer of all-natural hair care and beauty products, is most likely to use which of the promotion mix strategies to gain increased shelf space in stores and to gain increased customer sales? | push and pull
A maker of vitamin drinks wants to compete with the leading brands in the category and has decided to use a heavy push strategy, putting most of the brand's marketing budget into trade and consumer sales promotion. Which of the following is a potential disadvantage of this approach? | The strategy may spark a spiral of price-slashing that will undercut the brand's future for short-term gains.
Which of the following would be the LEAST effective way for John and Barb to reach new potential customers? | network television advertising
In a recent radio spot, John and Barb gave a quick explanation of Sparkle's cleaning process and a description of the value consumers receive for their money. This is an example of a(n) ________. | rational appeal
You are directed to study the actors close to the company that affect its ability to serve its customers-departments within the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. What are you studying? | the micro environment
Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers? | the marketing environment 
You are directed to study the demographic, economic, natural, technological, political, and cultural factors that are larger societal forces affecting your company. What are you studying? | the macro environment
Which of the following is NOT a type of factor in a company's macroenvironment? | competitive
All of the groups within a company are called the ________. | internal environment 
Which type of organization helps companies to stock and move goods from their points of origin to their destination? | physical distribution firms
Banks, credit companies, insurance companies, and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ________. | financial intermediaries
Currently, Diego Calabresa is employed by a firm that conducts marketing research and creates ads for other companies that target and promote their products to the right markets. Who is Diego's employer? | a marketing service agency
A(n) ________ is defined as any group that has an actual or potential interest in, or impact on, an organization's ability to achieve its objectives. | public
Which of the following is NOT an example of the type of public that is part of a company's marketing nvironment? | marketing department
A radio station that carries news, features, and editorial opinions about your area is which type of public? | media
A consumer organization, environmental group, or minority group has challenged your firm's stand on a local issue. Your firm is being challenged by a ________ public. | government
Workers, managers, and members of the board are all part of a company's ________ public. | internal
Percy Original caters to a market of individuals and households that buys goods and services for personal consumption. Percy Original caters to a ________ market. | consumer
Which type of market buys goods and services for further processing or for use in the production process? | business
Which type of market buys goods and services to produce public services or to transfer them to others who need them? | government
Rachel Patino works for a wholesale company called Distributors Unlimited. She is responsible for buying and selling goods at a profit to small retailers. What is her market? | reseller
Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched? | demographic
The three largest generational groups in America are the baby boomers, Generation X, and ________. | Millennials
Research has shown that the most important demographic trend in the United States is the ________. | changing age structure of the population
As a generational group, ________ are the most affluent Americans. | baby boomers 
The youngest of the baby boomers are now in their ________. | mid-40s
Which of the following descriptions most accurately characterizes the baby boomers? | They hold 75% of the country's assets.
Which of the following descriptions most accurately characterizes Gen Xers? | They were the first generation of latchkey kids.
Which demographic group is also referred to as the echo boomers? | Millennials
Large tween and teen markets belong to which demographic group? | Millennials
Which of the following descriptions most accurately characterizes Millennials? | They are children of baby boomers.
Which demographic group is characterized by a total fluency and comfort with computer, digital, and Internet technology? | Millennials
Which of the following demographic groups has NOT seen a percentage increase in the past 50 years? | women staying at home with their children
In 1950, women made up under 40 percent of the workforce; now they make up ________ percent. | 59
Which of the following is a trend that depicts the increasingly nontraditional nature of today's American family? | the falling percentage of married couples with children
Over the past two decades, the U.S. population has shifted most heavily toward the ________ states. | Sunbelt
Which of the following geographical areas has NOT seen a recent population increase? | the Northeast
In the 1950s, the American population began shifting from large cities to ________. | suburbs
An increasing number of American workers currently work out of their homes with technological conveniences such as PCs, Internet access, and fax machines. These workers are referred to as the ________ market. | SOHO
Which of the following groups of workers is projected to become smaller over the next ten years? | manufacturing workers
Which of the following most accurately reflects the popularity of telecommuting? | More than half of American businesses currently offer telecommuting programs for their employees.
Because of increasing ________, Americans will demand higher quality products, books, magazines, travel, personal computers, and Internet services. | levels of education
Which of the following is an accurate statement about the diversity of the American population? | More than 12 percent of people living in the United States were born in another country.
Of the following, which ethnic minority is expected to be nearly 25% of the U.S. population by 2050? | Hispanics
With an expected increase in ethnic populations, marketers are likely to place a greater emphasis on ________. | targeted advertising messages
Of the following diversity segments in the American population, which is currently the largest? | adults with disabilities
The ________ environment consists of factors that affect consumer purchasing power and spending patterns. | economic
A country with a(n) ________ economy has rich markets for many different kinds of goods. | multicultural
As a response to the Great Recession, most consumers have ________. | adopted back-to-basics spending patterns
Value marketing is the strategy of offering consumers ________. | reasonable quality at a fair price
Which of the following statements about income distribution in the United States is NOT true? | In recent decades, the middle class has grown.
The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________. | natural environment
Which of the following American government agencies is charged with setting and enforcing pollution standards? | the Environmental Protection Agency (EPA)
Which of the following has encouraged marketers to go beyond what is required by law and pursue environmentally sustainable strategies? | the green movement
Many firms today use RFID technology to ________. |track products through various points in the distribution channel 
Which country leads the world in research and development spending? | the United State
Which of the following is a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission? | Research costs for companies have grown.
Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is most accurately described as the ________ environment. | political
Even the most liberal advocates of free-market economies agree that the system works best with ________ regulation. | at least some
Legislation affecting business around the world will continue to ________. | increase
The legislation created to limit the number of commercials aired during children's programming is called the ________ | Children's Television Act
Business legislation has been created for three basic reasons: to protect companies from each other, to protect consumers, and to ________. | protect the interests of society
The recent rash of business scandals and increased concerns about the environment have created fresh interest in the issues of ________ and ________. | ethics; social responsibility
The primary concern for consumers with the boom in Internet marketing is ________. | privacy
Cause-related marketing is a(n) ________. | primary form of corporate giving
A society's basic values, perceptions, preferences, and behaviors are all part of its ________ environment. | cultural
Marketers should understand that a society's core beliefs and values have a high degree of ________. | persistence
Your company is making negotiations to enter a market in Lower Albania. You would most likely discover that ________ beliefs and values are open to change in this country. | secondary
A society's ________ are expressed in how people view themselves, organizations, society, nature, and the universe. | cultural values
Watching the cultural trends of how people view others, observers have noted an increased interest in ________. | going out less and staying home more
Trends in people's views of organizations indicate that which of the following has increased in the past twenty years? | distrust in big American businesses 
Watching the cultural trends of how people view society, observers have noted that since September 11, 2001, marketers responded to the increased ________ of Americans with special products and promotions. | patriotism 
Which of the following is a potential downside to using patriotic themes in marketing programs? | Such promotions can be viewed as attempts to gain from others' triumph or tragedy.
The LOHAS market is most closely associated with which of the following cultural trends? | environmental sustainability
Cultural forecasters have noted a renewed American interest in ________. | spirituality 
Marketers can take a(n) ________ by taking aggressive action to affect the publics and forces in their marketing environments. | proactive stance
Which of the following explains why few companies have been successful in shutting down critics who post complaints on the Web? | The criticism is usually interpreted as protected speech.
LandPort Transportation and Omega Warehousing move and store the products your company sells. The two businesses are examples of ________. | physical distribution firms
Innovations is a producer of electronic circuits that power a variety of technological devices produced by other companies. Innovations sells its products to ________ markets. | business
ING, an international insurance and financial services company, is the primary sponsor of the annual New York City Marathon, which is attended by over one million fans and watched by approximately 300 million viewers worldwide. The ING logo and name appear throughout the race course. ING most likely sponsors the event in order to appeal to which type of public? | general
Noora DeLange is helping her company develop a marketing program for a new product line. The program involves emphasizing experience over acquisition and uses a marketing pitch that is less overt than the company's previous programs. The marketing program is most likely designed to appeal to which of the following demographic groups? | Gen Xers
Wholesome Soups, a maker of organic soups, is starting a new marketing campaign emphasizing the ease of preparing and eating Wholesome Soups on the go. Print, television, and Internet ads feature college-aged students enjoying Wholesome Soups in between classes and during study breaks. Wholesome Soups' new marketing campaign is most likely aimed at which of the following? | Millennials
Which of the following demographic trends is likely the most responsible for the increasing number of people who telecommute? | the migration toward micropolitan and suburban areas
Chet Hoffman's chain of travel agencies has identified the lesbian, gay, bisexual, and transgender community as a growing market that spends an increasing percentage of its income on travel. Which of the following would be the LEAST effective component of a marketing plan for Chet to take advantage of this opportunity? | implement a mass marketing campaign 
With an expected increase in ethnic diversity within the American population, marketers are most likely to place a greater emphasis on which of the following? | differing advertising messages
The green movement will likely spark the LEAST interest in which of the following? | Internet usage
Norma Bernanke is a marketer at a pharmaceutical company that has just developed a new medication to treat asthma. Which of the following components of the political environment should Norma be LEAST concerned with as her company begins to develop a marketing plan for the new product? | the Nutrition Labeling and Education Act
A regional supermarket chain runs print, radio, and television advertisements announcing that 1% of each of its sales is donated to local after-school programs for underprivileged youth. This is an example of ________ marketing. | cause-related
Which of the following is an example of a core belief? | Marriage is important.
Consumers undertaking which of the following would be most likely to be identified as "cocooning" or "nesting"? | having a home entertainment center installed
Toyota's Prius was the first mass-produced hybrid vehicle, known for its fuel efficiency and environmental friendliness. The Prius was initially most likely marketed to which of the following groups? | the LOHAS market-
Assume that you are a manager at a firm that has hired lobbyists to influence legislation affecting your firm's industry to its advantage. Your firm takes a(n) ________ approach to the marketing environment. | proactive
Which of the following forces would marketers be MOST likely able to influence? | media publics
If baby boomers are predictors of where product and service demand will be, increased demands will most likely be evident in ________ in the upcoming years. | financial services
Which of the following best explains why Gen Xers who are parents tend to put family before career? | Gen Xers were the first generation of latchkey kids.
In considering the changing American family, which of the following are marketers likely to consider the LEAST important? | The number of traditional households has increased.
Which of the following is the most reasonable to assume as more and more Americans move to "micropolitan areas"? | Micropolitan areas are likely to offer the same advantages as metropolitan areas.
As a marketer of pesticides, which of the following should give you the LEAST amount of concern? | persistence of cultural values
Which microenvironment actors have affected The Landing the most? | competitors 
Which of the following macroenvironmental forces has had the greatest effect on The Landing? | the demographic environment
Which macroenvironmental force has benefitted The Landing the most? | the natural environment
Which of the following demographic forces has most likely influenced the recent upscale atmosphere of the area surrounding Witmer Lake? | baby boomers reaching their peak earning and spending years
Despite the data glut that marketing managers receive, they are most likely to complain that they lack which of the following? | enough information of the right kind
Which of the following statements is NOT true regarding information collected for marketers? | Managers have enough of the right information.
A marketing information system (MIS) consists of people and procedures to assess information needs, ________, and help decision makers analyze and use the information. | develop the needed information
The real value of a company's marketing research and information system lies in the ________. | quality of customer insights it provides
A good MIS balances the information users would ________ against what they really ________ and what is ________. | like to have; need; feasible to offer
In general, marketers must weigh carefully the costs of additional information against the ________ resulting from it. | benefits
Diana Dion is currently researching data sources from within her company to make marketing decisions. Diana is making use of ________ databases. | internal
Four common sources of internal data include the accounting department, operations, the sales force, and the ________. | marketing department
Marketing information from which type of database usually can be accessed more quickly and cheaply than other information sources? | internal
________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment. | Competitive marketing intelligence
Your marketing department is attempting to improve strategic decision making, track competitors' actions, and provide early warning of opportunities and threats. To achieve this goal, which of the following would be the best for your department to use? | competitive marketing intelligence
Which of the following statements regarding competitive marketing intelligence is true? | Competitive marketing intelligence relies upon publicly available information.
Which of the following is NOT considered a source of competitive marketing intelligence? | causal research
Which of the following is NOT a potential source for competitive marketing intelligence? | collecting primary data 
Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence? | the U.S. Security and Exchange Commission's database 
________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. | Marketing research 
Which of the following is LEAST likely to be a benefit of conducting marketing research? | measuring the effectiveness of pricing and accounting 
What is the first step in the marketing research process?  | defining the problem and research objectives 
Your colleague is confused about using the marketing research process, as he knows that something is wrong but is not sure of the specific causes to investigate. He seems to be having problems with ________, which is often the hardest step to take. | defining the problem and research objectives 
Which step in the four-step marketing research process has been left out of the following list: defining the problems and research objectives, implementing the research plan, and interpreting and reporting the findings? | developing the research plan 
Causal research is used to ________. | test hypotheses about cause-and-effect relationships 
In marketing research, managers often start with ________ research and later follow with ________ research. | exploratory; descriptive or causal 
The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses. | exploratory 
In the second step of the marketing research process, research objectives should be translated into specific ________. | information needs- 
Secondary data consists of information ________. | that already exists but was collected for a different purpose 
Which of the following is information gathered directly from respondents in order to specifically address a question at hand? | primary data  
Information collected from online databases is an example of ________ data. | secondary 
Nielsen and the MONITOR are two sources that provide ________. | secondary data  
Which form of data below can usually be obtained more quickly and at a lower cost than the others? | secondary 
It is most accurate to say that secondary data are ________. | not always very usable 
Your assistant wants to use secondary data exclusively for the current research project. You advise him that the use of secondary data has some potential problems. Which of the following is NOT one of them? | It is generally more expensive to obtain than primary data. 
For primary data to be useful to marketers, it must be relevant, current, unbiased, and ________. | accurate 
Which method would a marketing researcher most likely use to obtain information that people are unwilling or unable to provide? | observational 
Ethnographic research ________. | is gathered where people live and work 
Which of the following is true of ethnographic research? | It is often conducted by trained anthropologists or psychologists. 
Survey research, though used to obtain many kinds of information in a variety of situations, is best suited for gathering ________ information. | descriptive 
Fredia Pellerano has just discovered the major advantage of survey research. She reports to her supervisor that the advantage is its ________. | flexibility 
Survey research is LEAST likely to be conducted through which of the following? | observation 
Experimental research is best suited for gathering ________ information. | causal 
Observational research is best suited for gathering ________ information. | exploratory 
ABC Company has decided to use mail questionnaires to collect data. This method has all the following advantages EXCEPT which one? | has an average response rate 
Which of the following contact methods has the poorest response rate? | mail 
Which of the following has the highest rating for speed of data collection and compilation? | Internet surveys 
Which of the following is NOT a disadvantage of telephone interviews?  | Interviewers can explain some questions and probe more deeply on others. 
Which of the following contact methods is generally the LEAST flexible? | mail 
Which form of marketing research is flexible, allows for explanation of difficult questions, and lends itself to showing products and advertisements? | individual interviewing 
A consumer is most likely to be paid a small fee for participating in which of the following? | a focus group interview 
Focus group interviewing is a ________ research tool for gaining insights into consumer thoughts and feelings. Nghien cuu dinh tinh de cam nhan cam giac | qualitatitve 
Focus group interviewing has become one of the major marketing research tools for getting insight into consumer thoughts and feelings. However, if the sample size is too small, it is likely to be difficult to ________.  | generalize from the results 
Which of the following is a disadvantage of online focus groups? Thieu tap trung cho nhom | The Internet format can lack the real-world group dynamics of in-person focus groups. 
Which of the following is NOT an advantage of Web-based research? | control over who respondents are 
Researchers generally need to ask three questions when developing a sampling plan. Which of the questions below is one of these three?  | How should participants be chosen (sampling procedure)? 
What is a major drawback of probability sampling?nhuoc diem : mat thoi gian  | It can be time consuming. 
What are the two main types of research instruments used to collect primary data? | questionnaires and mechanical devices 
The most common research instrument used is the ________. | questionnaire 
Which of the following is the best advice about creating research questionnaires? | Use simple and direct language. 
After a research instrument is selected, the next step in the marketing research process is ________. | implementing the research plan 
AMF Research Group must guard against problems during the implementation phase of marketing research for its clients. Which of the following is NOT a problem that should be anticipated during this phase? | interpreting and reporting the findings 
Typically, customer information is buried deep in separate databases, plans, and records of many different company functions and departments. To overcome such problems, which of the following should you try? | customer relationship management 
Which of the following is true about customer relationship management (CRM)? | Its aim is to maximize customer loyalty. 
What is the purpose of a data warehouse?  | to gather and integrate information a company already has 
In CRM, ________ techniques are used to sift through data and dig out interesting findings about customers. | data mining 
A successful CRM program can be expected to help a company achieve all of the following EXCEPT ________. | understanding the competition better 
Marketing information is only valuable when it is used to ________. | make better marketing decisions 
Which of the following provides those within the company ready access to company research information, stored reports, shared work documents, contact information for employees and other stakeholders, and more?  | an intranet 
When managers use small convenience samples such as asking customers what they think or inviting a small group out to lunch to get reactions, they are using ________. | informal surveys 
Small organizations can obtain, with relatively little effort, most of which type of data available to large businesses? | secondary 
You have been asked to locate secondary data for your small organization's research needs. Which of the following is NOT a common source for this type of research? | online surveys 
Because of the scarcity of good secondary data, international researchers often must collect their own primary data. An initial problem with this collection is developing good ________. | samples 
Cultural differences, especially those involving language, can add to research costs in foreign markets and can increase the ________. | risk of error 
Anna Gregory just read a marketing research report about the top 25 countries that purchase American products. What would the report most likely say about international research involving these countries? | Despite the costs of international research, the costs of not doing it are higher. 
Choose the statement that is NOT a typical consumer concern about intrusion on consumer privacy. | Marketers make too many products and services available, creating unnecessary consumer wants. 
The best approach for researchers to take to guard consumer privacy includes all of the following EXCEPT which one? | Sell the information only when it is financially worthwhile. 
Many major companies have created the position of ________ to address concerns about the privacy of customers. | chief privacy officer 
To address concerns about the misuse of research study findings, several highly regarded marketing associations have developed ________. | codes of research ethics 
Frito-Lay's ________ gathers daily sales data and sorts it by product line and by region. The marketing managers use the data to evaluate the market share of different Frito-Lay products compared to one another and to competing snack foods in each region where the company does business.  | marketing information system  
You want to observe how often consumers listen to music throughout their day and what different audio devices they use. You are also interested in how consumers store and access their own music collections. You should conduct ________ research. | exploratory 
You are about to test the hypothesis that sales of your product will increase at a very similar rate at either a $5 drop in unit price or a $7 drop in unit price. You are involved in what type of research? | causal 
Which type of research would be best suited for identifying which demographic groups prefer diet soft drinks and why they have this preference? | descriptive 
Nathan Zabalas owns a regional chain of drug stores. Before expanding nationwide, Nathan is conducting marketing research to determine the best options for opening new stores. He plans to start by collecting secondary data. Which of the following is NOT a source of secondary data that Nathan might use? | online questionnaires 
Walmart sends a trained observer to watch and interact with customers as they shop in a Walmart store. This is an example of ________. | ethnographic research 
When ZIBA designers looking for ideas on how to craft a shower-cleaning tool spent 10 days in people's homes, watching consumers wash shower stalls, they were conducting ________ research. | ethnographic 
Carls Jr. came out with a new hamburger and released it in two different cities with two different price points. Marketers at Carls Jr. then analyzed the different levels of purchase made at the two different price points, planning on using the information to help them set a nationwide price for the new offering. This is an example of ________. | experimental research 
Juanita Petino operates a dress shop in a suburban mall. Her research budget is very small, so she utilizes low-cost or no-cost methods to gather research data. One method that works very well for her is to change the themes in her local newspaper and radio advertising and watch the result. Juanita is using ________ to gather data for marketing decisions. | experimental research 
Maryann Rose is conducting research to determine consumers' personal grooming habits. Because of the personal nature of the survey questions about this topic, Maryann wants to select the contact method that is most likely to encourage respondents to answer honestly and that will allow her to easily collect large amounts of data. Which contact method should Maryann select? | mail questionnaires 
Tasoula Jeannopoulos has a limited budget for the market research she needs to conduct; however, the sample size for her research is quite large. Which of the following methods of contact would provide Tasoula with the most cost-effective way to reach a large sample of potential customers? | Internet surveys 
Del Monte has created a(n) ________ called "I Love My Dog"; this online community allows company-selected dog enthusiasts to complete product-related polls, chat with product developers, and provide feedback about specific products. Mang cong dong | custom social network 
You have decided to use only open-ended questions on your survey. Which of the following questions would NOT be found on your survey? | How many cars does your family own? 
You have decided to use only closed-ended questions on your survey. Which of the following questions would NOT be found on your survey? | What do you like about your teacher? 
Loft Industries sells roof trusses to contractors and builders and would like to conduct research to determine how customers assess customer service. Which of the following research instruments would be best for this firm? | questionnaires 
As a small business consultant, you recommend to your clients that they use no-cost methods of observation to gather market research. Which of the following are you NOT likely to recommend your clients do? | hire additional staff to observe extensively 
For a small business manager deciding where to relocate within the city, relevant research will LEAST likely include ________. | options for repackaging the company's products 
Marialba Hooper is conducting marketing research for a company that is investigating the possibility of entering multiple international markets. As Marialba plans her research in 30 different countries, upon which of the following is she LEAST likely to rely? | free secondary data 
Malaya Ramirez is organizing marketing research in Central American countries for a large American corporation that is interested in expanding its market. The survey Malaya is using was written in English and then translated into Spanish for use by Spanish-speaking respondents. Which of the following is it most important for Malaya do before administering this questionnaire to a sample of the market? | have the questionnaire translated back into English to check for accuracy 
You want to find out whether Americans between 21 and 40 years of age tend to vote Democratic and whether Americans between 41 and 70 tend to vote Republican. You will most likely use a ________ to collect your data. | stratified random sample 
Michael Quinones is a customer service agent for a national car rental business. He has access to the company's intranet, which provides performance reports, shared work documents, contact information, and detailed information about customers. Which of the following is this access most likely to enable Michael to do during interactions with customers? Lay thong tin khach hang cua cong ty  | reward customer loyalty with an upgrade or discount 
We define a ________ as anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. | product 
________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. | Services 
A product is a key element in the ________. At one extreme, it may consist of pure tangible goods or at the other extreme, pure services. | market offering 
To differentiate themselves, many companies go beyond offering products and services; they are also developing and delivering customer ________.  | experiences 
Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is the ________, which addresses the question, "What is the buyer really buying?" | core customer value 
The third level of a product that product planners must consider is a(n) ________ that offers additional consumer services and benefits. | augmented product 
Products and services fall into two broad classifications based on the types of consumers that use them. Which is one of these broad classes? | industrial products 
________ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products. | Consumer products 
________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. Consumers spend much time and effort in gathering information and making comparisons about these products. | Shopping products 
________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. | Specialty products 
________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying. These products require a lot of advertising, personal selling, and other marketing efforts. | Unsought products 
________ are those products purchased for further processing or for use in conducting a business. | Industrial products 
Most manufactured materials and parts are sold directly to ________. Price and service are the major marketing factors; branding and advertising tend to be less important. | industrial users 
________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment. | Capital items 
Which of the following capital items is NOT considered accessory equipment?  | buildings 
Which of the following does NOT belong to the materials and parts group of industrial products? | repair and maintenance items 
Paper, pencils, paint, nails, and brooms are examples of ________. | supplies 
________ consists of activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization. | Organization marketing 
________ consists of activities undertaken to create, maintain, or change attitudes toward particular people. | Person marketing 
________ involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, and regions.  | Place marketing 
________ is defined as the use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society. | Social marketing 
Public health campaigns to reduce alcoholism, drug abuse, smoking, and obesity are all examples of ________. | social marketing 
Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by ________ such as quality, features, and style and design. | product attributes 
________ is one of the marketer's major positioning tools because it has a direct impact on product or service performance; it is therefore closely linked to customer value and satisfaction. | Product quality 
________ is an approach in which all the company's people are involved in constantly improving the products, services, and business processes. | Total quality management 
What are the two dimensions of product quality? | consistency and level 
Which of the following types of quality refers to freedom from defects and consistency in delivering a targeted level of performance? | conformance  
A sensational ________ may grab attention and produce pleasing aesthetics, but it does not necessarily improve a product's performance. | style 
________ contributes to a product's usefulness as well as to its looks. | Design 
A(n) ________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service. | brand 
________ involves designing and producing the container or wrapper for a product. | Packaging 
In recent years, product safety and environmental responsibility have become major ________ concerns. | packaging 
At the very least, a product's ________ identifies the product or brand. It might also describe several things about the product and promote the brand. | label 
The ________ requires sellers to provide detailed nutritional information on food products.  | Nutritional Labeling and Educational Act of 1990 
________ has been affected by the need to include unit pricing, open dating, and nutritional information. | Labeling  
Many companies now use a combination of phone, e-mail, fax, Internet, and other technologies to provide ________. | support services 
A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges. | product line 
The major product line decision involves ________. | product line length 
Berkowitz Piano Company can expand its product line in one of two common ways. Which of the following is one of those ways? | line filling 
An alternative to product line stretching is ________, adding more items within the present range of the line.  | product line filling 
When a company lengthens its product line beyond its current range, it is ________. | product line stretching 
A ________ consists of all the product lines and items that a particular seller offers for sale. | product mix 
Product mix ________ refers to the number of different product lines the company carries.  | width 
Product mix ________ refers to the total number of items a company carries within its product lines. | length 
Product mix ________ refers to the number of versions offered of each product in the line. Colgate toothpaste comes in 16 varieties, ranging from Colgate Total to Colgate Kids Toothpastes. | depth 
The ________ of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way. | consistency 
A company can increase its business in four ways. Which is NOT one of these ways? | It can discontinue some of its lines. 
Service providers must consider four special characteristics when designing marketing programs. Which is NOT one of these characteristics? | heterogeneity 
________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought. | Service intangibility 
________ means that services cannot be separated from their providers, whether the providers are people or machines. | Service inseparability 
Which of the following is NOT one of the links in the service-profit chain, linking service firm profits with employee and customer satisfaction? | evidence management 
Through ________, the service firm trains and motivates its customer-contact employees and supporting service people to work as a team to provide customer satisfaction. | internal marketing 
________ means that service quality depends on the quality of buyer-seller interaction during the service encounter. | Interactive marketing 
All of the following are methods for developing a differentiated service offer, delivery, or image EXCEPT ________. | increasing the quantity of service by giving up some durability 
Some analysts see ________ as the major enduring asset of a company, outlasting the company's specific products and facilities. | brands 
A(n) ________ represents consumers' perceptions and feelings about a product and its performance. | brand 
Which of the following is NOT one of the four consumer perception dimensions used by ad agency Young & Rubicam to measure brand strength? | brand valuation 
The total financial value of a brand is estimated through the process of brand ________. | valuation 
The fundamental asset underlying brand equity is ________ the value of the customer relationships that the brand creates.  | customer equity 
Which of the following is the lowest level on which marketers can position their brands in target customers' minds?  | product attributes 
The strongest brands go beyond attributes or benefit positioning; they are positioned on ________. | strong beliefs and values 
Which of the following is NOT a desirable quality for a brand name?  | The brand should almost always be a long word to get attention. 
All of the following are a manufacturer's sponsorship options for a product EXCEPT ________. | multibrands 
In the competition between ________ and ________ brands, retailers have the advantages of controlling what products will be stocked, where products will be stocked, what prices will be charged, and which products will be featured in print promotions. | national; private 
An increasing number of retailers and wholesalers have created their own ________, also called store brands. | private brands 
For a fee, some companies ________ names or symbols previously created by other manufacturers, names of well-known celebrities, and/or characters from popular movies and books, any of which can provide an instant and proven brand name. | license  
________ is used when two established brand names of different companies are used on the same product. | Co-branding 
Which of the following is an advantage offered by co-branding? | A company can expand its existing brand into a category it otherwise might have difficulty entering alone. 
A company has four choices when it comes to developing brands. What is NOT one of those choices? | width and depth extension 
________ occurs when a company introduces additional items in a given product category under the same brand name, such as new flavors, forms, colors, ingredients, or package sizes. | A line extension 
A ________ involves the use of a successful brand name to launch new or modified products in a new category. | brand extension 
Which of the following is a potential drawback of multibranding? | The company's resources may be spread over too many brands. 
Which strategy involves weeding out weaker brands and focusing marketing dollars only on brands that can achieve the number-one or number-two market share positions in their categories? | megabrand 
Major brand marketers often spend huge amounts on advertising to create brand ________ and to build preference and loyalty. | awareness 
While advertising campaigns can help to create name recognition, brand knowledge, and maybe even some brand preference, brands are not maintained by advertising but by ________. | brand experience 
Which of the following product offerings is intangible? | a limousine ride  
When the Twin Six Cafe provides gourmet menu options to its customers, as well as impeccable service-which even allows customers to hand-select their own cuts of meat ________ is/are evident. | a core benefit, an actual product, and an augmented product  
A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood is an example of a(n) ________. | specialty product 
You have an upset stomach. Your spouse rushes to the corner convenience store for a bottle of Pepto-Bismol. This product is a(n) ________ product. | convenience  
Mabel Lu is planning to buy a new washing machine. She notices that they come in numerous price ranges. She wants to make sure she gets the most for her money. This product is a(n) ________ product. | shopping 
General Electric's campaign stating, "We bring good things to life" is an example of ________. | corporate image marketing 
"I love New York" is an example of ________. | place marketing  
The Ad Council of America has developed dozens of ________ marketing campaigns, including classics such as "Smokey the Bear," "Keep America Beautiful," and "Only You Can Prevent Forest Fires." | social 
To achieve their social change objectives, social marketing programs ________. | C and D  
Helene Curtis began to market shampoo for normal hair. In an attempt to increase profits and use excess market capacity, Helene Curtis then marketed shampoo for oily hair and color-treated hair. This is an example of ________. | line filling 
Which of the following is/are examples of product line length? | A and C 
Manor Plaza Barber's customers have noticed that the quality of a haircut depends on who provides it as well as when, where, and how it is provided. What have the customers noticed? | service variability 
The impossibility of a barber storing haircuts for later sale is an example of which of the following? | service perishability 
Christopher Messenger rents storage space to college students who go home for the summer but do not want to haul all of their property home and back. The business is profitable during the summer months, but when the storage space is unoccupied in the off-season, Christopher is losing money. What characteristic of service is most likely the source of Christopher's problem? | perishability 
Gina's Nail Salon is serious about pleasing its customers. Employees are trained to immediately and pleasantly respond to any customer complaints, and they are empowered to offer discounts and free add-ons to customers who believe they have received anything less than the best service. Gina's Nail Salon focuses on ________. | good service recovery 
Chicken of the Sea brand tuna sells more than the same size Kroger brand tuna, even though the Kroger tuna costs $0.15 less per can. Chicken of the Sea has brand ________. | equity 
A manager of a Holiday Inn said, "We have power and value in the market and people are willing to pay for it." This manager is referring to ________. | brand equity 
Costco's Kirkland products are an example of a(n) ________. | private brand 
An apparel marketer is planning to launch an existing brand name into a new product category. Which brand development strategy is being implemented? | brand extension 
Each new iPod product introduction advances the causes of democratizing technology and approachable innovation. iPod, an expert at fostering customer community, has been ranked one of the Breakaway Brands by the brand consultancy Landor Associates. iPod is positioned on ________. | beliefs and values 
To reduce problems associated with the intangibility of the services offered by a restaurant, the restaurant owner would be most likely to do which of the following? | provide clean tablecloths and cloth napkins for each new customer 
Which of the following is the most important for product designers to consider as they develop a product? | how customers will use and benefit from the product 
A company sets not a single price, but rather a ________ that covers different items in its line that change over time as products move through their life cycles. | pricing structure 
Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ________. | market-skimming pricing 
Of the following, which statement(s) would NOT support a market-skimming policy for a new product? | Competitors can enter the market easily. 
A firm is using ________ when it charges a high, premium price for a new product with the intention of reducing the price in the future. | price skimming 
________ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share. | Market-penetration 
Which of the following conditions would NOT support the use of a market-penetration pricing strategy? | The product's quality and image support a high price. 
Which of the following is a reason that a marketer would choose a penetration pricing strategy? | to discourage competition from entering the market ) to discourage competition from entering the market 
Companies usually develop ________ rather than ________. | product lines; single products 
A marketer must be familiar with the five major product mix pricing situations. Which of the following is NOT one of them? | unbundled product pricing 
A challenge for management in product line pricing is to decide on the price steps between the ________. | various products in a line 
Typically, producers who use captive-product pricing set the price of the main product ________ and set ________ on the supplies necessary to use the product. | low; high markups 
Mach 3 razor blades must be used in the Mach 3 razor. Which type of pricing is being used? | captive product pricing 
In the case of services, captive product pricing is called ________ pricing. | two-part 
When amusement parks and movie theaters charge admission plus fees for food and other attractions, they are following a(n) ________ pricing strategy. | two-part 
HiPoint Telephone Company uses two-part pricing for its long-distance call charges. Because this is a service, the price is broken into a fixed fee plus a(n) ________. | variable usage rate 
Companies involved in deciding which items to include in the base price and which to offer as options are engaged in ________ pricing. | optional product 
Using ________, companies are able to turn their trash into cash, allowing them to make the price of their main product more competitive. | by-product pricing 
Using product bundle pricing, sellers combine several products and offer the bundle ________. | at a reduced price 
What is a major advantage of product bundle pricing? | It can promote the sales of products consumers might not otherwise buy. 
Which of the following is NOT a price adjustment strategy? | free samples 
Service Industries, Inc. plans to offer a price-adjustment strategy in the near future. It could consider each of the following EXCEPT ________. | physiological pricing 
A quantity discount is a price reduction to buyers who purchase ________. | large volumes 
Trade or functional discounts are offered by manufacturers to ________. | channel members who perform tasks that the manufacturer would otherwise have to perform 
Which of the following is an example of a cash discount? | 2/10, net 30 
When General Motors provides payments or price reductions to its new car dealers as rewards for participating in advertising and sales support programs, it is granting a ________. | promotional allowance 
Trade-in allowances are most commonly used in the ________ industry. | automobile 
By definition, ________ is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost. | segmented pricing 
The New Age Gallery has three admission prices for students, adults, and seniors. All three groups are entitled to the same services. This form of pricing is called ________. | customer-segmented pricing 
Under product-form pricing, different versions of a product are priced differently, but not according to differences in its ________. | costs 
When a firm varies its price by the season, month, day, or even hour, it is using ________ pricing. | time-based 
Consumers usually perceive higher-priced products as ________. | having a higher quality 
Consumers are less likely to use price to judge the quality of a product when they ________. | have experience with the product 
Which of the following refers to the prices that a buyer carries in his or her mind and refers to when looking at a given product? |  reference prices 
When consumers cannot judge quality because they lack the information or skill, price becomes ________. | an important quality signal 
All of the following are typical ways a buyer might form a reference price EXCEPT ________. | identifying perceived value 
What type of pricing is being used when a company temporarily prices its product below the list price or even below cost to create buying excitement and urgency? | promotional pricing 
Promotional pricing can have all of the following adverse effects EXCEPT ________. | giving pricing secrets away to competitors 
In a form of promotion pricing, customers buy products from manufacturers' dealers within a specified time period, and then the manufacturer sends the customer a check called a ________. | cash rebate 
Low-interest financing and longer warranties are both examples of ________. | promotional pricing 
Which of the following is NOT a geographical pricing strategy? | dynamic pricing 
Durango China Company charges all customers within different identified geographical areas a single total price. The more distant the area, the higher the price. This is ________. | zone pricing 
Under which type of geographic pricing strategy does each customer pay the exact freight for the product from the factory to its destination? | FOB-origin pricing 
Using this pricing strategy, the seller takes responsibility for part or all of the actual freight charges in order to get the desired business. | freight-absorption 
Which of the following is the opposite of FOB-origin pricing? |  uniform-delivered pricing 
Freight-absorption pricing is used for ________ and ________. |  market penetration; holding on to increasingly competitive markets 
When a company charges the same rate to ship a product anywhere in the United States, it is using which form of geographic pricing? | uniform-delivered 
The Internet offers ________, where the price can easily be adjusted to meet changes in demand. | dynamic pricing 
Some companies are reversing the fixed pricing trend and using ________. | dynamic pricing 
Most companies that conduct international business ________ to ________. | adjust their prices; take local market conditions into consideration 
Price escalation in international markets may result from differences in market conditions or ________. | selling strategies 
Which of the following is LEAST likely to cause price escalation in foreign markets? | the additional costs of improving a country's infrastructure 
Price escalation in international markets may result from four of these five marketing conditions. Which one will have the LEAST effect? | language barriers 
There are many reasons why a firm might consider cutting its price. All of the following are among them EXCEPT ________. | a drive to reduce market share 
Which of the following is a reason for a company to raise its prices? | to address the issue of overdemand for a product 
Which of the following is a major factor that influences price increases? | cost inflation 
A company that raises its prices is most at risk of being accused of which of the following? | price gouging 
Competitors are most likely to react to a price change when ________. | the product is uniform 
When a competitor cuts its price, a company is most likely to decide to ________ if it believes it will not lose much market share or would lose too much profit by cutting its own price. |  maintain its current prices and profit margin 
When faced with a competitor who has cut its product's price, which of the following is typically the most cost-effective way for a company to maintain its own price but raise the perceived value of its offer? |  altering the company's marketing communications 
Which of the following is NOT an effective action that a company can take to combat a competitor's price cut on a product? | improve quality and decrease price 
When a firm improves the quality and increases the price of a product in reaction to a competitor making a price reduction, the firm is ________. | moving its brand into a higher price-value position 
A company would most likely consider launching a low-price "fighter brand" in response to a competitor reducing prices if ________. | the market segment being lost is price sensitive 
Price fixing, predatory pricing, retail price maintenance, and deceptive pricing are examples of ________. | major public policy issues in pricing 
The Sherman, Clayton, and Robinson-Patman Acts are all federal laws that were enacted to curb the formation of ________. | monopolies 
When sellers set prices after talking to competitors and engaging in collusion, they are involved in ________. | price fixing 
Federal legislation on price fixing requires that sellers set their prices ________.  | without communication from competitors 
If a large retailer sold numerous items below cost with the intention of punishing small competitors and gaining higher long-run profits by putting those competitors out of business, the retailer would be guilty of ________. |  predatory pricing 
Which of the following would most likely be considered predatory pricing? | pricing below cost to drive out competitors 
The Robinson-Patman Act seeks to prevent unfair ________ by ensuring that sellers offer the same price terms to customers at a given price level. | price discrimination 
Price discrimination is legal under which of the following conditions? | when a seller can prove its costs are different when selling to different retailers 
Price discrimination may be used to match competition as long as the strategy is temporary, localized, and ________. | defensive 
Mark's Markers, a manufacturer of color markers, has required its dealers to charge a specified retail price for its markers. Mark's is most likely guilty of ________. | retail price maintenance 
________ results when a company uses pricing methods that make it difficult for consumers to understand just what price they are really paying. | Price confusion 
Failure to enter the current price into a retailer's system may result in charges of ________. | scanner fraud 
Comparison pricing claims are legal if they are truthful. However, sellers should not advertise a price reduction unless ________. | all of the above 
Valeo Fashions has just introduced a new line of fashion dresses for teens. It will initially enter the market at high prices in a ________ pricing strategy.  | market-skimming 
When Pepsi came out with Pepsi Blue and priced it at half price to attract buyers, Pepsi was using ________.  | market-penetration pricing 
Johnson Boats wants to introduce a new model of boat into mature markets in highly developed countries with the goal of quickly gaining mass-market share. As a consultant, you should recommend a ________ pricing strategy. | market-penetration 
When Circuit Town Electronics sets its televisions at three price levels of $699, $899, and $1,099, it is using ________. | product line pricing 
When Polaroid set the general price range of its cameras low and the markup on its film high, it was practicing ________. | captive product pricing 
When product managers at Schwinn make decisions about which types of bicycle seats, handle bars, and saddlebags to offer customers on their bikes, they are engaged in ________. | optional product pricing 
A car maker's strategy of advertising a basic vehicle model with few conveniences and comforts at a low price to entice buyers and then convincing customers to buy higher-priced models with more amenities is an example of which of the following? | optional product pricing 
When Whallans Gift Card Shop offers a price reduction to customers who buy Christmas cards the week after Christmas, Whallans is giving a(n) ________ discount. | seasonal 
Brown Baby Tanning Salon offers weekly tanning sessions for $15 and season passes with unlimited tanning for $150. Brown Baby Tanning Salon is offering ________ pricing. | discount 
Secret Sneaker will give anyone $10 for an old pair of sneakers, regardless of condition, when that person purchases a new pair of sneakers. The end result is essentially reducing the price of the new sneakers by $10. What is this type of price adjustment called? | trade-in allowance 
Bose prices its most expensive noise reduction earphones at $399.95, which is a full $100.00 more than its next most expensive earphones. It costs Bose only a few dollars more to make the most expensive earphones. Bose is using ________ pricing. | product-form 
The Chicago Bears organization charges different prices for seats in different areas of Soldier Field, even though the costs are the same. This form of pricing is called ________. | location-based pricing 
Manor Cinemas has announced that seniors over 60 years of age can enter the theater for free prior to 4:00 p.m. when accompanied by a paying customer. This is an example of ________. | promotional pricing 
The JC Whitney Company of Chicago offers replacement parts for older Volkswagen Beetles. Parts are often shipped from other locations throughout the United States. However, the company charges for shipping as if every part was shipped from its Chicago headquarters. The company practices ________. | basing-point pricing 
If Northwest Awnings charges the same price for delivery of its product to any customer that is located within the Great Lakes states, but a different price to customers outside of the Great Lakes states, the company is using ________. | zone pricing 
Big Mike's Health Food Store sells nutritional energy-producing foods. The price of the products sold varies according to individual customer accounts and situations. For example, long-time customers receive discounts. This strategy is an example of ________. | dynamic pricing 
In response to price cuts from competitors, a cereal company with several more expensive and higher quality cereals introduced a lower-priced option to its product line. This is an example of which of the following responses to a competitor's price cut? | launching a "fighter brand" 
A number of top fashion-modeling agencies would most likely be charged with ________ for jointly determining what commissions they would charge for models. | price fixing 
Savings for You, a discount retail chain, is highly competitive. When entering a new market, Savings for You often cuts prices so deeply that it sells below costs, effectively pushing smaller companies with less purchasing power out of the market. Savings for You is most at risk of being accused of ________. | predatory pricing 
Market-skimming pricing would likely be most effective in selling ________. | an electronic device for which research and development must be recouped 
Among the following, a market-penetration strategy will likely be most effective with ________. | any specialty item 
A manufacturer offers 3/10, net 30 terms to a wholesaler for a recent purchase. The wholesaler may deduct ________ percent if the bill is paid within ________ days. | 3; 10 
Lancaster Recycling has a history of problems with customers who do not pay their bills on time. Lancaster Recycling wants to improve its cash situation, reduce bad debts, and reduce credit-collection costs. The company might consider which of the following forms of pricing? | cash discounts 
Why might have Charles Powell have avoided using market-skimming pricing at Quills? | The quality and image of the products would not have likely supported the high initial price. 
By offering a set of pens packaged with stationery and matching envelopes, Quills is using ________. | product bundle pricing 
________ is the amount of money charged for a product or service. | Price
Price is the only element in the marketing mix that produces ________. | revenue
________ is an important element in the marketing mix. It is the only element that does not represent costs. | Price
Consumer perceptions of the product's value set the ________ for prices. | ceiling
Product costs set a(n) ________ to a product's price. | floor
Which of the following is a customer-oriented approach to pricing? | customer value-based pricing
Retail assortments are looking more and more alike because ________.  | national-brand manufacturers have placed their products almost everywhere 
Until retailers ________ and ________ their markets, they cannot make consistent decisions about product assortment, services, pricing, advertising, store décor, or any of the other decisions that must support their positions.  | define; profile 
Service differentiation among retailers has ________.  | decreased 
A retailer may fail because it tries to provide "something for everyone" and ends up satisfying no market well. Successful retailers ________ their target markets well and position themselves strongly.  | define 
A retailer's ________ should differentiate the retailer while matching target shoppers' expectations. One strategy is to offer merchandise that no other competitor carries.  | product assortment 
Costco's surprise offerings of seconds, overstocks, and closeoutsoccasionally including diamondsis an example of how a retailer can differentiate itself through ________.  | product assortment 
Home Depot offers "how-to" classes for do-it- yourselfers, featuring instructions on how to complete home improvement projects using products sold at its stores. This is an example of how Home Depot has differentiated itself through its ________.  | services mix 
While all retailers would like to achieve ________ while charging ________, the two seldom happen together.  | high volume; high markups 
In-store demonstrations, displays, contests, and visiting celebrities are examples of ________.  | sales promotions 
Press conferences, speeches, store openings, special events, newsletters, magazines, and public service activities are examples of ways retailers use ________.  | sales promotions 
Why do stores cluster together?  | to standardize the service mix 
________ were the main form of retail cluster until the 1950s.  | Central business districts 
A ________ is a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit.  | shopping center 
A ________ contains from 40 to 200 stores, is like a covered mini-downtown, and attracts customers from a wide area.  | regional shopping center 
7A ________ contains between 15 and 40 retail stores, including a department or variety store, a supermarket, specialty stores, professional offices, and sometimes a bank.  | community shopping center 
Most shopping centers are ________ containing between 5 and 15 stores; they are close and convenient for consumers.  | strip malls 
Today's trend in retail clusters is toward ________, huge unenclosed shopping centers consisting of a long strip of retail stores, including at least one large, freestanding anchor store like Walmart. Each store has its own entrance with parking directly in front for shoppers who wish to visit only one store.  | power centers 
A ________ is a smaller mall with upscale stores, convenient locations, and an expensive atmosphere. It is typically located near affluent residential neighborhoods.  | lifestyle center 
In response to a(n) ________, many retailers have cut costs, used price promotions, and added new value pitches to their positioning.  | down economy 
According to the ________ concept, new retailing forms often begin as low-margin, low-price, low-status operations to challenge established retailers, then become successful, and eventually take the place of the established retailers they had challenged.  | wheel-of- retailing 
The merging of consumers, products, prices, and retailers is called ________.  | retail convergence 
Convergence means greater ________ for retailers and greater difficulty in ________ offerings.  | competition; differentiating 
The rise of huge mass merchandisers and specialty superstores, along with retail mergers and acquisitions, has created a core group of very large and very powerful ________.  | megaretailers 
Mail-order, phone, and online shopping are all examples of ________.  | nonstore retailing 
Which of the following has NOT contributed to the growth of online business?  | concerns about online privacy and security 
Retail convergence is a merging of all of the following EXCEPT ________.  | employees 
Touch-screen kiosks, customer-loyalty cards, handheld shopping assistants, and self- scanning checkout systems are all examples of how retailers use technology to ________.  | meet consumers' expectations 
Most ________ retailers are significantly behind ________ retailers in global expansion.  | American; European and Asian 
________, the world's second largest retailer after Walmart, has embarked on an aggressive mission to extend its role as a leading international retailer.  | Carrefour 
________ includes all activities involved in selling goods and services to those buying for resale or business use.  | Wholesaling 
________ buy mostly from producers and sell to retailers and industrial consumers.  | Wholesalers 
Which wholesaler's channel function is demonstrated when a wholesaler's sales force helps a manufacturer to reach many small customers at a low cost?  | selling and promoting 
Which of the following is NOT one of a wholesaler's channel functions?  | off-price retailing 
Which wholesaler's channel function is demonstrated when a wholesaler reduces inventory holding costs and risks to suppliers and customers?  | warehousing 
Which wholesaler's channel function is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than producers?  | transportation 
Which of the following is NOT one of the major classifications of wholesalers?  | specialty wholesalers 
________ are the largest group of wholesalers. The group can be divided into the two broad types of full-service and limited-service.  | Merchant wholesalers 
In order to ________, wholesalers can propose automatic reordering systems, set up management-training and advising systems, or even sponsor a voluntary chain.  | build better relationships with customers 
________ and ________ do not take title to goods, and they perform only a few channel functions.  | Brokers; agents 
A(n) ________ brings buyers and sellers together and assists in negotiations.  | broker 
________, or manufacturers' representatives, represent a buyer or seller on a more permanent basis.  | Agents 
Like retailers, wholesalers must ________ their target markets and ________ themselves effectively, for they cannot serve everyone.  | define; position 
Which type of limited-service wholesaler is owned by farmers who assemble farm produce to sell in local markets?  | producer's cooperative 
Which type of wholesaler sells primarily to manufacturers rather than to retailers?  | industrial distributors 
Today's large, progressive wholesalers have successfully reacted to rising costs by ________.  | investing in information technology systems 
Savvy wholesalers realize that their only reason for existence comes from increasing the efficiency and effectiveness of the ________.  | entire marketing channel 
In response to slow growth in their domestic markets, many wholesalers are ________.  | increasing their international business 
GameStop sells video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n) ________.  | specialty store 
7-Eleven, Stop-N- Go, and Circle K, small stores that traditionally have had a primary market of young, blue-collar men, are examples of ________.  | convenience stores 
Overstock.com, a Web seller that buys furniture, clothing, electronics, and more from variety of producers at less-than- regular wholesale prices and then charges customers less than retail, is a(n) ________.  | independent off-price retailer 
In the battle for "share of stomachs," some supermarkets are cutting costs and attempting to compete more effectively with food discounters, while others are moving upscale, providing improved store environments and higher-quality food offerings. These two different strategies represent differences in ________.  | positioning 
7-Eleven has recently begun to redesign and restock its stores to offer a more upscale environment and products, such as house wines and fresh foods. 7-Eleven has changed its________.  | positioning 
Big and Tall Men's Shop carries goods in larger sizes; this allows the store to ________ other stores.  | differentiate itself from 
The lighting in Jake's Steak Restaurant is muted. The chairs are covered in leather and solid enough to last a lifetime, and each table is covered with a white linen cloth. The colors are limited to earth tones with an occasional splash of red. Patrons can not hear any kitchen noises, only a pleasant melody that seems familiar but unrecognizable. The smells are extraordinarily varied. This is a description of the restaurant's ________.  | atmosphere 
Which of the following describes a way that Costco and Walmart are similar?  | Both use everyday low pricing. 
Macy's department stores carry a wide range of product lines, including clothing, jewelry, kitchenware, and home furnishings. Macy's typically charges a relatively high markup, but also holds frequent sales and price promotions, in particular offering discounts to customers who use a Macy's credit card. Macy's uses ________.  | high-low pricing 
The Home Depot entered the market as a store for professional and amateur plumbers, electricians, and carpenters. Then it introduced its garden centers. Next came its home design center that provides help with all kinds of interior decorating problems. Now it is enlarging its garden centers and hiring knowledgeable gardeners to staff these centers. The addition of more amenities and greater assortment can be best explained by which of the following?  | the wheel-of- retailing hypothesis 
Stan Clark, the owner of Eskimo Joe's bar, is considering closing the bar and selling the logo apparel with direct marketing through a catalog. Stan Clark is considering a(n) ________ option.  | nonstore retailing 
Carey David's wholesale company helps retailers train salesclerks, improve store layouts anddisplays, and set up inventory control systems. The channel function Cary David provides is ________.  | management services and advice 
Nita can visit her local supermarket and buy a dozen roses, a gallon of milk, two birthday cards, a bag of cat litter, and a pan for roasting a turkey. This best illustrates how a wholesaler has added value through the channel function of ________.  | creating assortments 
You own an independent store in your neighborhood. You still like to offer fresh seafood in your meat display case. Which type of wholesaler might best serve you?  | cash-and- carry wholesaler 
You own a neighborhood grocery store and would like to have non-food items delivered, priced, displayed and inventoried by a wholesaler. You do not want to purchase title to the goods. Which type of wholesaler best fits your needs?  | rack jobber 
Tony Pool Chemical Co. purchased 144 buckets of chlorine tablets over the Internet from Chemical, Inc., then placed the order with the manufacturer and arranged for its transportation by truck to the Tony Pool store. Chemical, Inc. took title to the pool chemicals but never actually took possession of them. Chemical, Inc. is an example of a ________.  | drop shipper 
An independent hardware retail store 100 miles from the nearest city of more than 5,000 people but providing needed supplies for area ranchers would most likely buy its plumbing and electrical supplies through a ________.  | mail-order wholesaler 
SuperValu, traditionally classified as a food wholesaler, has recently started or acquired several retail food chains of its own, including Albertsons, Jewel-Osco, and Cub Foods. Which of the following trends is this an example of?  | the blurring of distinctions between retailers and wholesalers 
Which of the following types of retailers is most likely to practice everyday low pricing (EDLP)?  | discount stores 
Which of the following is most likely true about shoppers who prefer to shop at "lifestyle centers"?  | They prefer upscale stores. 
Which of the following is most likely the greatest factor in the increasingly short life cycle of new retail forms?  | changes in technology
When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________.  | market targeting 
What are the four steps, in order, to designing a customer-driven marketing strategy?  | market segmentation, targeting, differentiation, and positioning 
Even though several options are available at any one time, there ________ to segment a market.  | is no single way 
Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be ________ segmentation.  | geographic 
Pendergraff Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation does Pendergraff use?  | demographic 
Which of the following is the most popular method for segmenting markets?  | demographic 
Demographic variables are frequently used in market segmentation because they ________.  | are easy to measure in comparison to many other methods 
Marketers must be most careful to guard against which of the following when using age and life-cycle segmentation?  | stereotyping 
When Positive Image, Inc. caters to clothing, cosmetics, and toiletries markets, it most likely uses which type of segmentation?  | gender 
Marketers of automobiles, financial services, and travel are most likely to use which of the following types of segmentation?  | income 
Lifestyle characteristics and personality characteristics are two types of variables used in ________ segmentation.  | psychographic 
The division of buyers into groups based on their knowledge, attitudes, uses, or responses to a product is ________ segmentation.  | behavioral 
Which type of segmentation centers on the use of the word when, such as when consumers get the idea to buy, when they actually make their purchase, or when they use the purchased item?  | occasion 
Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.  | user status 
Your current assignment at York Foods is to find the major benefits people look for in product classes, the kinds of people who look for each benefit, and the major brands that deliver each benefit. What is this segmentation method called?  | benefit 
Shampoo marketers rate buyers as light, medium, or heavy product users. This is ________ segmentation.  | usage rate 
Consumers can show their allegiance to brands, stores, or companies. Marketers can use this information to segment consumers by ________.  | loyalty status 
By studying its less loyal buyers, a company can detect which brands are most ________ its own.  | competitive with 
Many firms make an effort to identify smaller, better-defined target groups by using ________.  | multiple segmentation bases 
Consumer and business marketers use many of the same variables to segment markets. Business marketers use all of the following EXCEPT ________.  | brand personalities 
As in consumer segmentation, many marketers believe that ________ and ________ segmentation provide the best basis for segmenting business markets.  | benefits; buying behavior 
International Drilling Company segments its foreign markets by their overall level of economic development. This firm segments on what basis?  | economic factors 
Lexus targets wealthy consumers with similar needs and buying behaviors, even though the consumers are located in different countries. This is an example of ________.  | intermarket segmentation 
Cross-market segmentation is also known as ________.  | intermarket segmentation 
When the size, purchasing power, and profiles of a market segment can be determined, it possesses the requirement of being ________.  | measurable 
When a business market segment is large or profitable enough to serve, it is termed ________.  | substantial 
When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as ________.  | actionable 
You have discovered that the segments you are targeting are conceptually distinguishable and respond differently to different marketing mix elements and programs. These segments are ________.  | differentiable 
The markets you have chosen to serve in four western states can be effectively reached and served. You would tell the marketing manager that these segments are ________.  | accessible 
To evaluate the different market segments your company serves, you would look at all of these factors EXCEPT which one?  | company values 
Barney Hopkins has compiled a list of things that make segments more attractive. Which one of the following items should NOT be on the list?  | competition with superior resources 
Which of the following is NOT one of the reasons a segment would be less attractive to a company?  | concentrated market 
In general, a company should enter only segments in which it can ________ and ________.  | offer superior value; gain advantages over competitors 
Mass marketers, such as Target and Venture Stores, often ignore market segment differences and target the whole market with one offer. What is their approach to segmenting?  | undifferentiated marketing 
The 55-year- old baby boomers share common needs in music and performers. When a music company decides to serve this group, the group is called a(n) ________.  | target market 
When New Port Shipping uses segmented marketing, it targets several segments and designs separate offers for each one. This approach is called ________ marketing.  | differentiated 
Developing a strong position within several segments creates more total sales than ________ marketing across all segments.  | undifferentiated 
ByWay Ventures chose a differentiated marketing strategy. The company had to weigh ________ against ________ when selecting this strategy.  | increased sales; increased costs 
P&G sells six brands of laundry detergent in the United States, each designed for one of six laundry segments P&G has identified. Together, these six brands take 62% of market share. Which of the following is a disadvantage of P&G's differentiated marketing strategy?  | increased costs for separate marketing plans for each brand 
Successful niche marketing is most dependent on a firm's ________ and its ________.  | greater knowledge of customers' needs; special reputation 
Using concentrated marketing, the marketer goes after a ________ share of ________.  | large; one or a few niches 
Today, the low cost of setting up shop ________ makes it even more profitable to serve very small niches.  | on the Internet 
Which of the segmenting strategies carries higher-than- average risks in consumer markets?  | concentrated 
As You Like It, Inc. customizes its offers to each individual consumer. This practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________ marketing.  | micro. 
________ tailors brands and promotions to the needs and wants of specific cities, neighborhoods, and even stores.  | Local marketing 
Which of the following is the narrowest marketing strategy?  | local marketing 
Which of the following is NOT a drawback of local marketing?  | Supporting technologies are not available. 
When Walmart customizes its merchandise store by store to meet shopper needs, it is practicing ________.  | local marketing 
When a company interacts one-on- one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs, it is following ________.  | mass customization 
When choosing a target marketing strategy, many factors need to be considered. Which of the following does your text NOT mention as important?  | product cost 
When competitors use differentiated or concentrated marketing, ________ marketing can be disastrous.  | undifferentiated 
Target marketing sometimes generates controversy and concern. Issues usually involve the targeting of ________ consumers with ________ products.  | vulnerable; potentially harmful 
It is considered socially irresponsible when the marketing of adult products spills over into the ________ segment.  | child 
Cigarette, beer, and fast-food marketers have generated much controversy in recent years by their attempts to target ________.  | inner-city minorities 
Most attempts to target children and minority groups provide ________ to target customers.  | benefits 
In target marketing, the issue of social responsibility is not really who is targeted, but rather ________ and for ________.  | how; what 
Which group determines a product's position relative to competing products?  | consumers 
A product's position is based on important attributes as perceived by ________.  | consumers 
Which of the listed choices is NOT a positioning task?  | surveying frequent users of the product 
A company or store gains a(n) ________ by differentiating its products and delivering more value.  | competitive advantage 
A company or market offer can be differentiated along the lines of product, image, services, channels, or ________.  | people 
Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance?  | channel differentiation 
When firms use symbols, colors, or characters to convey their personalities, they are using ________ differentiation.  | image 
Ad man Rosser Reeves believes that firms should develop a USP for each brand and stick to it. What does USP stand for?  | unique selling proposition 
A brand difference is worth establishing and promoting to the extent that it satisfies all of the criteria below EXCEPT which one?  | divisible 
You have just created the "perfect" ad. It communicates the full mix of benefits upon which the brand is differentiated and positioned. This full positioning of the brand is called ________.  | its value proposition 
The answer to the customer's question "Why should I buy your brand?" is found in the ________.  | value proposition 
What competitive positioning can attack a more-for- more strategy by introducing a brand offering with comparable quality at a lower price?  | more-for- the-same 
Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price?  | same-for- less 
"Less-for- much-less" positioning involves meeting consumers' ________.  | lower quality requirements in exchange for a lower price 
Few people can afford the best in everything they buy. At times everyone needs a product with less quality or performance with a correspondingly lower price. In this case a consumer would purchase a product positioned with a ________ strategy.  | less-for- much-less 
Which difficult-to- sustain positioning strategy attempts to deliver the "best-of- both"?  | more-for- less 
When it first opened for business, Home Depot claimed to offer better products at lower prices. This hard-to- sustain value proposition is called ________.  | more-for- less 
Which type of statement first indicates the product's membership in a category and then shows its point-of- difference from other members of the category?  | positioning statement 
What is the following an example of? "To busy, mobile professionals who need to always be in the loop, BlackBerry is a wireless connectivity solution that gives you an easier, more reliable way to stay connected to data, people, and resources while on the go."  | positioning statement 
When marketers at Procter & Gamble selected the Millennials, a demographic that includes college students, as an untapped group of potential customers for their Febreze line of products, they were executing which step in the process of designing a customer-driven marketing strategy?  | targeting 
When Pacific Fisheries groups its customers by regions such as Asia, Australia, or New Zealand, it is using which segmenting base?  | geographic location 
When Burger King targets children, teens, adults, and seniors with different ads and media, it is practicing ________ segmentation.  | age and life-cycle 
Segmenting voters as either Democrats or Republicans is an example of ________.  | psychographic segmentation 
At one time Miller Beer was known as the "champagne of bottled beer." Unfortunately, Miller drinkers did not drink much beer. To increase sales, Miller was repositioned to attract the members of the middle working class. This segmentation approach is ________.  | psychographic 
MTV targets the world's teenagers, who have similar needs and buying behavior even thoughthey are located in different countries. This is called ________ segmentation.  | intermarket 
An organic farmer has identified three distinct groups who might be interested in his products: vegetarians, people who are concerned about chemicals in their foods, and people who consider themselves innovators and trendsetters. These three groups are examples of ________.  | market segments 
A catalog retailer has identified African-American professionals between the ages of thirty-five and forty-five as the group of customers within the larger market that is a potential market for its products. The retailer plans to direct its marketing efforts toward this group of consumers. The retailer has identified a ________.  | target market 
Jolene Enterprises mass produces an all-purpose floor cleaner, mass distributes it and mass promotes it. This firm uses ________ marketing.  | undifferentiated 
A marketer focuses on several commonalities among all consumers. This marketer appears to be engaging in ________.  | undifferentiated marketing 
Sanguine Services is a small company that practices a marketing strategy in which its limited resources are used to go after a large share of two small niches. Sanguine practices which one of these strategies?  | concentrated 
Bob and Phyllis Cords own two retail stores, one in Pottstown and one in Norristown. Though the towns are only 40 miles apart, the consumers at both stores are very different demographically. Bob and Phyllis alter the product offerings between both locations in an effort to cater to both demographic groups. This is an example of ________.  | A and C 
Jay Bee Promotions tailors its advertising and promotional services to the needs and preferences of individual customers. Which of the following terms does NOT apply to this type of marketing?  | concentrated 
There are several different sports watches for cyclists. When compared to its competitors, the Bike Nashbar watch is the least expensive. The Acumen Basic is the only one designed for older cyclists who prefer a larger display. Sports Instrument is the most comfortable of all the available watches. This describes the ________ of the three sports watches.  | positions 
When comparing itself to its competitors, Hidden Valley describes its Ranch dressing as the original. This is the ________ the manufacturer has planned for the product.  | position 
The Jay Group hires better employees than the competition by conducting lengthy searches and interviews. Management also trains employees much better than competitors do. The Jay Group has gained a strong competitive advantage through which type of differentiation?  | people 
Ford Motor Company emphasizes "Quality FirstFord Tough" in its truck products. In doing so, the company has developed a differentiation strategy based on ________.  | image 
Cheap Heaps Auto specializes in lower quality vehicles, with a few dents, that are priced a great deal lower than other used cars. Cheap Heaps has chosen to position its products with a ________ strategy.  | less-for- much-less 
Neiman Marcus claims superior quality, performance, and style. The owners provide the most upscale products and services and charge a higher price to cover the higher costs. What type of positioning does Neiman Marcus use?  | more-for- more 
Superior Auto Sales, a chain of high-end used car dealerships, wants to sum up its company positioning and brand positioning in a formal way. Superior's management would use a ________.  | positioning statement 
Which of the following statements illustrates why stereotypes should be avoided when using age and life-cycle segmentation?  | Some 70 year olds use wheelchairs; others play tennis. 
Which of the following is the most logical reason for P&G offering products that compete with one another on the same supermarket shelves?  | Different people want different mixes of benefits from the products they buy. 
In the scenario, how does Herb segment his market?  | usage rate 
In marketing his writing utensils to his four specialty-shop customers, Herb is using ________ marketing.  | niche 
If Herb produced a variety of styles of pens and pencils with various wood types and engravings that he tailored specifically to each individual's order, he would be practicing ________.  | mass customization 
Which of the following elements of the promotion mix involves making personal connections with customers for the purpose of making sales?  | personal selling 
A ________ is an individual acting on behalf of a company who performs one or more of the following activities: prospecting, communicating, servicing, and information gathering.  | salesperson 
________ involves two-way, personal communication between salespeople and individual customers, either in person, by telephone, or through Web conferences.  | Personal selling 
Whom do members of a sales force typically represent?  | A and C 
A company can unite its marketing and sales functions through all of the following activities EXCEPT ________.  | assigning a telemarketer the task of visiting a customer 
When a company sets out to analyze, plan, implement, and control sales force activities, the company is undertaking ________.  | sales force management 
Of the three typical types of sales force structures, which one is often supported by many levels of sales management positions in specific geographical areas?  | territorial 
All of the following are considered advantages of a territorial sales force structure EXCEPT ________.  | salespeople develop in-depth knowledge of a product line 
Which of the following is NOT a disadvantage of a product sales force structure?  | increased customer delivery time 
Companies that use a customer sales force structure organize their salespeople by ________.  | industry 
Which of the following would a company most likely use to determine sales force size?  | the workload approach 
What is the term used to identify the individuals in a company who travel to call on customers in the field?  | outside sales force 
Members of a company's ________ conduct business from their offices using telephones, e-mails, or visits from prospective buyers to generate sales.   | inside sales force 
To reduce time demands on their outside sales forces, many companies have increased the size of their inside sales forces, which include technical support people, sales assistants, and ________.  | telemarketers 
A sales assistant working for an outside sales force will most likely have all of the following duties EXCEPT ________.  | determining price points 
The growing trend of using a group of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts is known as ________ selling.  | team  
Which of the following best explains why companies are adopting the team selling approach to service large, complex accounts?  | Salespeople prefer working in groups because of the opportunity for flex hours and job sharing.  
All of the following are disadvantages of the team selling approach EXCEPT which one?  | Selling teams decrease costs.  
All of the following are problems associated with the poor selection of salespeople EXCEPT ________.  | less office support 
According to research by the Gallup polling organization, which of the following is one of the four key talents a successful salesperson must possess?  | disciplined work style 
During the hiring process, companies that test sales applicants typically measure all of the following abilities EXCEPT ________.  | accounting skills 
The purpose of a training program for salespeople is to teach them about all of the following EXCEPT ________.  | the company retirement benefits  
Which of the following is a primary reason that companies use e-learning to conduct sales training programs?  | E-learning cuts training costs. 
Commissions or bonuses that a salesperson receives from a company are categorized as the ________ of a compensation plan.  | variable amount 
All of the following are basic types of compensation plan for salespeople EXCEPT ________.  | commission plus bonus 
Companies are increasingly moving away from high commission compensation plans because such plans often lead to salespeople ________.  | being too pushy and harming customer relationships  
Helping the sales force "work smart" is the goal of ________.  | sales supervision 
The aim of sales management motivation is to encourage salespeople to ________.  | "work hard"
Which sales management tool helps a salesperson know which customers to visit and which activities to carry out during a week? | call plan
Companies are always looking for ways to increase face-to-face selling time. All of the following are ways to accomplish this goal EXCEPT ________. | reducing the number of customers each sales rep must visit
Which of the following is an advantage created by the use of a sales force automation system? | more efficient scheduling of sales calls and sales presentations
Which of the following is a potential drawback of using Web-based technologies for making sales presentations and servicing accounts? | The systems can intimidate salespeople who are unfamiliar with the technology. 
A company that treats its salespeople as valuable contributors with unlimited income opportunities has developed a(n) ________ that will have fewer turnovers and higher sales force performance. | organizational climate
A sales ________ is the standard that establishes the amount each salesperson should sell and how sales should be divided among the company's products. | quota
Sales ________ encourage a sales force to make a selling effort that is above and beyond the normal expectation. | contests
A salesperson's ________ is often related to how well he or she meets a sales quota.  | compensation
A(n) ________ is a salesperson's write-up of his or her completed sales activities. | call report
Which of the following questions would provide management with the LEAST beneficial information regarding the performance of its sales force? | Does the sales force complete its sales reports and expense reports in a timely manner?
The selling process consists of several steps that the salesperson must master, focusing on the goals of ________ and ________ from them. | getting new customers; obtaining orders
Prospecting is the step in the selling process in which the salesperson ________. | identifies qualified potential customers
A salesperson in the prospecting stage most likely uses of the following methods EXCEPT ________. | referrals from competing salespeople
Which of the following is the LEAST relevant characteristic that a salesperson should consider when qualifying a prospect? | longevity in the market
During the prospecting stage, a salesperson needs to discriminate between good leads and poor leads, a process known as ________. | qualifying
A salesperson who researches a company's buying styles and product line is most likely in the ________ stage of the selling process.  | preapproach
The salesperson meets the customer for the first time in the ________ step of the selling process. | approach
Technologies such as handheld computers and interactive whiteboards enable salespeople to enhance the ________ stage of the selling process. | presentation and demonstration
Which type of sales approach is best for today's customers who expect answers, results, and useful products?  | customer-solution
The qualities that buyers value most in salespeople include empathy, honesty, dependability, thoroughness, follow-through, and ________. | good listening
A salesperson should seek out, clarify, and overcome any customer objections during the sales presentation in order to ________. | turn the objections into reasons for buying
The qualities buyers dislike most in salespeople include all EXCEPT which of the following? | being reliant on technology
The step of ________ is difficult for some salespeople because they lack confidence, feel guilty about asking for an order, or may not recognize the right time to ask for an order. | closing the sale
Salespeople should be trained to recognize ________ signals from the buyer, which can include physical actions such as leaning forward and nodding or asking questions about prices and credit terms. | closing
Which of the following is NOT a closing technique? | asking the buyer to clarify any objections
Which step in the sales process is most focused on ensuring customer satisfaction and repeat business? | follow-up
Which of the following best describes the practice of value selling? | delivering superior customer value and capturing a fair return on that value
A ________ is a short-term incentive used to encourage the immediate purchase of a product or service. | sales promotion
Sales promotions are targeted toward all of the following EXCEPT ________. | investors
The rapid growth of sales promotions in consumer markets is most likely the result of all of the following factors EXCEPT ________. | declining advertising costs
Consumers are increasingly ignoring promotions and not making immediate purchases because of ________. | promotion clutter
Sellers use trade promotions for all of the following reasons EXCEPT to ________. | encourage salespeople to sign up new accounts
Of the main consumer promotion tools, which is the MOST effective for introducing a new product or creating excitement for an existing one? | samples
Which of the following consumer promotion tools is the MOST costly way for companies to introduce a new product? | samples
Which consumer promotion tool requires consumers to send a proof of purchase to the manufacturer? | cash refunds
Which of the following involves marking a reduced price directly on a product's packaging and often results in the stimulation of short-term sales?  | price packs
________ are goods offered either free or at low cost as an incentive to buy a product. | Premiums
A ________ has the advertiser's name on it and is given as a gift to consumers. | promotional product
Which consumer promotion offers consumers the chance to win something by presenting them with an item such as a scratch-off card or a bingo number ? | game
Marketers who send coupons to customers' cell phones are using ________. | mobile marketing
Marathons, concerts, and festivals with corporate sponsors are examples of ________. | event marketing
Manufacturers direct more sales promotion dollars toward ________ than to ________. | retailers and wholesalers; consumers
Manufacturers may offer a(n) ________ in return for the retailer's agreement to feature the manufacturer's products in advertising or display. | allowance
A manufacturer that offers cash or gifts to dealers for encouraging the purchase of the manufacturer's goods is using ________. | push money
Business promotion tools are used for all of the following reasons EXCEPT to ________. | increase manufacturing
Trade shows offer manufacturers the opportunity to do all of the following EXCEPT ________. | establish a sales contest
Which of the following questions would be the best one to help a marketer evaluate the return on a sales promotion investment? | Did the promotion increase purchases from current customers or attract new customers?
Ultra-Tech, Inc. has decided to switch to a customer sales force structure. Which of the following advantages is the company now LEAST likely to enjoy? | The company can expect salespeople to develop in-depth knowledge of numerous and complex product lines.
Johnson Business Solutions, Inc. maintains one sales force for its copy machines and a separate sales force for its computer systems. Johnson Business Solutions utilizes a(n) ________ structure. | product sales force
Morrill Motors splits the United States into 10 sales regions. Within each of those regions, the company maintains two sales teamsone for existing customers and one for prospects. What type of sales force structure does Morrill Motors use? | complex
J&M Manufacturing has 2,000 Type-A accounts, each requiring 35 calls per year, and 1,000 Type-B accounts, each requiring 15 calls per year. What is the sales force's workload? | 85,000 calls
Stahl, Inc. has 1,000 Type-A accounts, each requiring 28 calls per year, and 2,200 Type-B accounts, each requiring 15 calls per year. If each salesperson at Stahl, Inc. can make 1,500 sales calls per year, approximately how many salespeople will be needed? | 41
East Bay Communications has increased its inside sales force. This will help East Bay in all EXCEPT which one of the following ways? | East Bay customers will have full access to sales automation technology.
You are applying for a position with the inside sales force at Carson Medical Sales. If you earn the job, you will most likely be expected to perform all of the following tasks EXCEPT ________. | travel to visit customers
An IBM sales representative is giving a product demonstration to a Best Buy representative. Assisting with the demonstration are an engineer, a financial analyst, and an information systems specialist. If IBM wins the Best Buy account, then all four IBM representatives will service the Best Buy account. This is an example of ________. | team selling
Mary Conti is sales manager for National Computer Training. She wants to evaluate the performance of her sales force responsible for the New England territory. Mary will most likely review all of the following in her evaluation EXCEPT ________. | call plans
The sales force of Conway Pools has qualified a number of leads. Which of the following will most likely occur next? | The outside sales force will learn as much as possible about the prospects. 
Marlene Arau is a member of the sales force at Urban Fashions, a clothing manufacturer. Marlene is preparing for a first meeting with a wholesaler who is a potential customer. Marlene is learning as much as she can about the wholesaler's organization. Marlene is in the ________ step of the personal selling process. | preapproach
Which of the following is an example of a sales promotion? | a coupon for $5 off a visit to an amusement park
An insert in a Land's End catalog offers free shipping on your next purchase. This is an example of a ________. | sales promotion
Monty Boyd travels frequently on West Coast Airlines for his job as an account manager. Monty earns points for every mile he flies, and he will soon have enough points to receive a free airline ticket. West Coast Airlines is building a customer relationship with Monty using which of the following? | frequency marketing program
Toro ran a clever preseason promotion on some of its snow blower models, offering some money back if the snowfall in the buyer's market area turned out to be below average. This is an example of a(n) ________. | rebate
An example of a(n) ________ is a five-foot-high cardboard display of Tony the Tiger next to Frosted Flakes cereal boxes. | POP promotion
Kirk Wilkins renewed his cell phone contract with Zip Wireless and purchased a new cell phone through the Zip Web site. If Kirk mails Zip his phone receipt, proof of purchase, and a completed form, he will receive $50 in the mail. What type of sales promotion is being used by Zip? | rebate
Happy Pet is a large petfood company that sells its products to retail pet supply stores as well as wholesalers. The sales force at Happy Pet is LEAST likely to do which of the following? | work directly with final customers
At Finley's Fine Goods, members of the sales force and marketing department tend to have disagreements when things go wrong with a customer. The marketers blame the salespeople for poorly executing their strategies, while the salespeople blame the marketers for being out of touch with the customer. Which of the following steps should upper-level management at Finley's Fine Goods take to help bring the sales and marketing functions closer together? | appoint a marketing executive to oversee both marketing and sales
The sales force at Messimer Computing recently began telemarketing and Web selling. How will telemarketing and Web selling most likely benefit Messimer Computing?  | Messimer sales reps will be able to service hard-to-reach customers more effectively.
Sales have been slow recently at B & B Materials, so management has organized a training program to improve the performance of its sales force. Which of the following would most likely lead to improved sales for B & B Materials? | information about the marketing strategies used by competitors 
At Deck Decor, a manufacturer of outdoor furniture and accessories, the marketing and sales force objectives are to grow relationships with existing customers and to acquire new business. Which of the following compensation plans should management establish to encourage the sales force to pursue both of these objectives? | salary plus commission plus bonus for new accounts
Your inside sales force is responsible for prospecting and qualifying customers. Which of the following will likely occur? | A salesperson may have to approach many qualified customers just to make one sale.
How would a customer sales force structure benefit Reliable Tool?  | It would enable ReliableTool salespeople to build close relationships with clients.
Which of the following promotions would be most appropriate for Reliable Tool to use in its attempt to promote its products and generate new business leads? | conventions and trade shows
Which of the following is NOT a typical supply chain member? | government agencies
________ the manufacturer or service provider is the set of firms that supply the raw materials, components, parts, information, finances, and expertise needed to create a product or service. | Upstream from
Another term for the supply chain that suggests a sense and respond view of the market is ________. | demand chain
When suppliers, distributors, and customers partner with each other to improve the performance of the entire system, they are participating in a ________. | value delivery network
Most producers today sell their goods directly to ________. | intermediaries
From the economic system's point of view, the role of marketing intermediaries is to transform the assortment of products made by producers into the assortment of products wanted by ________. | consumers
Producers benefit from using intermediaries because they ________. | offer greater efficiency in making goods available to target markets
Intermediaries play an important role in matching ________. | supply and demand
Channel members add value by bridging the major gaps of ________ that separate goods and services from those who would use them. | time, place, and possession
Which of the following is NOT a key function that intermediaries play in completing transactions? | risk taking
Which of the following is NOT a key function that intermediaries play in helping to fulfill a completed transaction? | promotion
In a(n) ________ channel, the same member both produces and distributes a product or service. | direct
In marketing terms, we say that the number of intermediary levels indicates the ________ of a channel. | length
At minimum, a marketing channel consists of a producer and a(n) ________. | customer
To a producer of goods, a greater number of channel levels means ________ and greater channel complexity.  | less control
Which of the following is an example of a complete business-to-business channel? | producer to distributor to business customer
All of the institutions in a channel are connected by flows, including physical flow, flow of ownership, payment flow, information flow, and ________ flow. | promotion
A distribution channel is more than a collection of firms connected by various flows; it is a(n) ________ in which people and companies interact to accomplish individual, company, and channel goals. | complex behavioral system
An advantage of a channel of distribution over selling direct to consumers is that each channel member plays a(n) ________ in the channel. | specialized role
Joanie Calvert is experiencing a disagreement with intermediaries in the channel over who should do what and for what rewards. Joanie is experiencing ________. | channel conflict
________ conflict, which occurs between different levels of the same channel, is more common than ________ conflict, which occurs among firms at the same level of the channel. | Vertical; horizontal
Historically, ________ have lacked the leadership to assign member roles and manage conflict. | conventional distribution channels
A conventional distribution channel consists of one or more ________ producers, wholesalers, and retailers. | independent
A channel consisting of one or more separate producers, wholesalers, or retailers that seek to maximize their own profit-even at the expense of profits for the channel as a whole-is a(n) ________. | conventional distribution channel
An advantage of a vertical marketing system (VMS) is that it acts as a ________ system. | unified