Final Exam study 11-20 Flashcards
1
Q
What stage of the product life cycle are smartphones in?
A
Growth
2
Q
What stage of the product life cycle are Print Encyclopedias in?
A
decline
3
Q
What stage of the product life cycle is Google Glass in?
A
Introduction
4
Q
What stage of the product life cycle are Quaker Oats in?
A
Maturity
5
Q
What stage of the product life cycle is 3D TV in?
A
Decline
6
Q
What stage of the product life cycle is Coca-Cola Classic in?
A
Maturity
7
Q
What stage of the product life cycle are CD Players in?
A
Decline
8
Q
What stage of the product life cycle are Tablet Computers in?
A
Growth
9
Q
What type of modification product is:
Apple releasing a new model of the iPhone equipped with the intelligent personal assistant Siri
A
Functional
10
Q
What type of modification product is:
Gap introducing a popular summer T-shirt in a new color
A
Aesthetic
11
Q
What type of modification product is:
Kraft begins changing the packaging of its snack foods to make them easier for elderly customers to open
A
Functional
12
Q
What type of modification product is:
Prada deciding to change the design of one of its more expensive handbags
A
Aesthetic
13
Q
What type of modification product is:
Smartphones are being made waterproof in case of accidents
A
Quality
14
Q
What type of modification product is:
A coffee shop decides to offer its coffees made with organic milk
A
Quality
15
Q
What stage of the product-development process applies:
Samsung determines whether developing a smartwatch would contribute significantly to sales and profits
A
Business analysis
16
Q
What stage of the product-development process applies:
Tide released a smaller, more basic version of its detergent in the Southeast to see how it would sell
A
Test marketing
17
Q
What stage of the product-development process applies:
A team at 3M gets together to brainstorm on new product introductions
A
Idea generation
18
Q
What stage of the product-development process applies:
Starbucks provides small group of customers with a written description of a new drink to gauge their reaction
A
Concept testing
19
Q
What stage of the product-development process applies:
A car company is in the process of building a car that uses hydrogen for fuel
A
Product development
20
Q
What stage of the product-development process applies:
Caterpillar just released a new model of bulldozer across the United States
A
Commercialized
21
Q
What stage of the product-development process applies:
New product ideas at McDonald’s are analyzed to determine whether they are feasible and match the company’s objectives
A
Screening
22
Q
Which phase of the product life cycle is a downward turn in the sales leading to the demise of a product
A
Decline
23
Q
What is the number one reason why a company needs to know what stage of the product life cycle its products are in?
A
To adapt its marketing strategies
24
Q
Why profits typically decline for a company that first introduced a product during the growth stage of a product’s life cycle?
A
Because competitors have entered the market
25
Which of the following is a way that a business can extend the life cycle of an established product?
Finding new uses for the product
26
Services are usually provided through _ directed at people or objects
Tangible and intangible products
27
In general, considering the Principles of Marketing, the differences between goods and services are determined by the _
Degree of tangibility
28
Which of the following is NOT a service product?
A 100 percent service satisfaction guarantee
29
Julianne is planning her upcoming wedding later this year. She has made a list of all the expenses which will be required for the wedding she has planned. Which of the following is NOT ONE of the service products associated with Julianne's wedding?
Flowers for the church
30
The intangibility aspect of a service means that _
Consumers may have a problem evaluating service offerings
31
Because practically all marketers provide some services, _ typically do not exist in today's business environment
Pure goods
32
Kaycee Petit needed to find a new company to prepare her tax return this year. Kaycee looked in
the yellow pages of the phone book, and went on the Internet to find information about any tax
preparers in the area. She found the names and numbers of several accountants, as well as the popular
HR Block and Jackson Hewitt. Since Kaycee had a somewhat complicated financial situation, she
decided on using an accountant rather than the two popular companies. Kaycee found the websites of
three of the accountants, but the other two were not on the Internet. She visited the offices of the
three accounts who had websites. The first office was in a somewhat "seedy" part of town, but had a
nice interior and a receptionist. The second office was in a nicer part of town, but did not have any
employees other than the accountant, and had old furniture and old carpet. The third office was all
around in better condition and Kaycee felt better about its accountant, so she decided on him.
When Kaycee visited the accountants' offices and used the look of the surroundings, as well as the
office furniture condition in her evaluation of the service business, she was most likely using the
elements of the ____ dimension of service quality.
Tangibles
33
A set of approaches used to integrate the functions of operations management, logistics management,
supply management, and marketing channel management so products are produced and distributed in the
right quantities, to the right locations, and at the right time is called
Supply chain management
34
A marketing channel is defined as a group of individuals and organizations that ___:
Directs the flow of products from producers to customers
35
If any company decides to make changes in its marketing channels, the strategic significance is that channel
decisions are______
Long-term commitments
36
Mary and Julian both are buying new iPhones this week. Mary goes to the Apple store because she wants to
actually see the phone before she makes a final decision. Julian knows that he does not need to see the phone,
because he just wants to update from his older version. Mary is purchasing her phone through_____, while
Julian is purchasing his through __
a retailer; a direct-marketing channel
37
Netflix sells its movie services using its website while Red Box sells its movie services using vending
machines. From a customer’s point of view, Netflix is using ____ and Red Box is using ___
a direct-marketing channel; a type of retailer
38
The major levels of intensity at which a company can choose to distribute its products are ____ distribution.
exclusive, selective, and intensive
39
Luke is a transportation coordinator for Volkswagen of North America. In order to move a large order of
vehicles from a plant in Germany to Chicago, he is planning to use both waterways and railroads. The
combining and coordinating of these two modes of transportation in order to take advantage of benefits
offered by each of the different types of carriers is called____________
Intermodal transportation
40
Kate owns a refreshment-stand business at the community ballpark. She goes to a warehouse store like
Sam’s and purchases snacks and canned soda that she will sell at her refreshment stand. Kate is considered
a(n)____
Retailer
41
Supermarkets, discount stores, and hypermarkets can all be classified as__
General merchandise retailers
42
Which of the following best describes wholesalers?
Organizations or individuals who buy products for resale to government, reseller, producer, and institutional users
43
Category killers compete primarily on the basis of____
low prices and enormous product availability
44
Ariana is planning to open an upscale dress boutique. She is evaluating ease of movement to and from
sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue
is she concerned with at the time?
Location
45
What is the main characteristic that differentiates retailers and wholesalers? In what ways
do retailers add value to products?
A retailer is an individual or organization that sells products to the final consumer. On
the other hand, a wholesaler is an individual or organization that sells products that are bought
for resale, for making other products or for general business operations. Retailers add value for
customers by creating time, place, and possession utility and, in some cases, form utility.
Retailers can add significant value to the supply chain, representing a critical link between
producers and ultimate consumers.
46
What is direct marketing? Give three examples of it
The use of the telephone and other nonpersonal media to introduce products to
consumers, who then can purchase the products through the mail, telephone, or the Internet is
called direct marketing. Typical examples would be telemarketing, catalogs, couponing, online
retailing, direct mail, email marketing.
47
Which of the following is an overall goal of the promotional mix?
To persuade consumers to buy
48
The cost of--------is usually substantially lower than the cost of --------.
Retaining existing customers; acquiring new customers
49
__________ is anything that reduces an integrated marketing communication’s clarity and
accuracy
Noise
50
Laws, government regulations, and industry self-regulation ______________ deceptive
promotion.
Have helped decrease
51
Product placement is the strategic location of products ________________.
within entertainment media content
52
Advertising that aims to create a more favorable view of a company as a whole in the eyes of
various stakeholders is called ____ advertising.
Institutional
53
Tropicana orange juice has a television commercial where a young boy is drinking orange juice
at dinner. He remarks that he likes the great taste of Tropicana anytime. The element of the
commercial that focuses on drinking orange juice at dinner would be best classified as ---, while
the focus on the great taste of Tropicana would be best classified as -------.
pioneer advertising; competitive advertising
54
When Volvo’s advertising campaign mentions the Volvo CX60 has the highest safety rating of
any European sedan, it is using _______ advertising
Competitive
55
Brands that are promoted through comparative advertising are most likely to be____________
Brands that are attempting to compete with market leaders
56
The target audience for an advertising campaign is the___________
People toward whom the advertisements are directed
57
The last stage in the development of any advertising campaign is___
Evaluating the effectiveness of advertising
58
Why should a benchmark statement be included in advertising objectives?
Without a reference point, it is difficult to determine to what degree objectives have been accomplished
59
The _____ design element of an advertisement is used to attract attention, communicate an
idea quickly, or communicate ideas that are difficult to put into words; the ____ is the physical
arrangement of the illustration, headline, subheadline, body copy, and the signature
Illustration; layout
60
Brittany is choosing the type of media for a new promotional campaign for Halls cough drops.
She knows that each type of media has both benefits and disadvantages. She is considering the
Internet as a form of media. Which of the following is NOT a disadvantage of the Internet as a
promotional medium?
The message must be short and simple
61
____ provide businesses with copywriters, artists, production coordinators, media experts,
researchers, and other highly skilled specialists
Advertising agencies
62
Paid personal communication that attempts to inform and persuade customers to purchase
products in an exchange situation is called______:
Personal selling
63
A major disadvantage of personal selling is that it_____________
Is very expensive per contact
64
Personal selling is changing in today’s marketplace due to several factors. Which of the
following is not a factor that impacts today’s promotion through personal selling?
The difficulty in keeping customers because they are fickle
65
Personal selling goals include finding prospects, convincing prospects to buy, and_________
Keeping customers satisfied
66
Sayyid's company has launched a new product line, and he is put in charge of sales. He decides
his first step will be to find potential customers in the company's sales records. Sayyid is_______
prospecting
67
Jamba Juice offers its customers a stamp card that allows them to receive a free smoothie
after they have filled an entire card. This is an example of a ---------.
frequent-user incentive
68
All of the following are key areas of sales force management except:
coordinating sales promotion efforts
69
Jake, a sales representative is returning from a week on the road. One of his activities this
week is to develop ____, which are designed to identify the customers called on and to present
detailed information about interaction with those clients.
call reports
70
Suppose Toyota also offered the dealership salespeople a trip to Hawaii for anyone who could sell ten
of the new vehicles within the first month they were available? This tactic would be an example of ____
marketing, while the TV commercials described above would be an example of ____ marketing.
Push; Pull
71
In the context of Marketing Communications, what is PR (public relations) and for what
purposes is it used?
Public relations (PR) are communication efforts used to create and maintain
favorable relations between an organization and its stakeholders. PR is generally used to
create a positive image of the company in general or when Companies may have to deal
with unexpected and unfavorable publicity resulting from: an unsafe product; an accident
resulting from product use; a controversial action of employees or some other negative
event or situation
72
In the context of marketing promotion strategies, what are the main differences between
Personal Selling and Sales Promotion ? You can use examples to give your answer.
Personal Sales is typically a paid personal communication that attempts to inform
customers and persuades them to buy products in an exchange situation. It is normally
done on regular basis, face to face, one-to-one, and as such, very costly. But its main
advantage is the immediate feedback. Classical examples would be car dealers or jewelry
stores. Sales Promotion’s main characteristic is its temporary effect, typically done on a
campaign basis. Most common techniques are coupons and free trials. It can be done by
existing companies, for example, Subway coupons in the mail, or for new businesses or
new products, as the cosmetic industry does frequently when launching a new fragrance
or lotion.
73
According to the Principles of Marketing, Price is best defined as________
The value that is exchanged for products in a marketing transaction
74
Price is considered to be the variable in the marketing mix that is_______
Most flexible
75
If Wilson Sporting Goods faces a standard demand curve that exists for most products, as it
raises the price of its tennis rackets, the___________
quantity demanded goes down
76
At the breakeven point,_______________
The money a company brings in from selling products equals the amount spent producing the products
77
Considering the Principles of Marketing, pricing strategies and methods_______
Help direct and structure the selection of a final price
78
You are the marketing manager for a multi-state auto dealership in the Southeast United
States. It is that time of year when your fleet of autos goes through a major model year change.
You are putting the final touches on your pricing strategy to facilitate this change in your
inventory of autos. Which of the following pricing strategies will you use to facilitate this model
year change?
Periodic Discounting
79
Explain the difference between price competition and non-price competition
and name the conditions for these methods to be effective
Price competition emphasizes price as an issue and matching or beating
competitors’ prices. To compete effectively on a price basis, a firm should be the low-cost
seller; Must be willing and able to change prices frequently to meet competitors’ pricing;
May lead to price wars. Non-price competition emphasizes factors other than price to
distinguish a product from competing brands. A major advantage is a firm can build customer
loyalty. Only effective if: A company can distinguish its brand from others; Buyers are able to
perceive these distinguishing characteristics and view them as important; The company
promotes the brand to establish its superiority
80
Price is said to be the most flexible of the four variables in the Marketing Mix,
but still subject to influence of several factors. List and explain three of them
A. Pricing decisions can be complex because of the number of factors to be considered
1. There is considerable uncertainty about the reactions to price among buyers,
channel members, and competitors.
2. Price is also an important consideration in marketing planning, market analysis,
and sales forecasting.
3. It is a major issue when assessing a brand’s position relative to competing brands.
B. Organizational and Marketing Objectives
1. Marketers should set prices that are consistent with the organization’s goals and
mission.
