MARKETING FINAL EXAM MULTIPLE CHOICE FROM ONLINE Ch 9:

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Within each product line, there are often multiple: product categories A ________________ signals to consumers that a product is available without using words. Symbol The SKU is the: smallest product unit, used for inventory control. Firms often add new product categories to do all of the following EXCEPT: increase price incentives From time to time it is necessary for marketers to _______________ in order to realign resources. Delete product lines or categories Chianti that comes in wicker-clad bottles and tortillas that come in zip lock bags are examples of brand _____________ that differentiate these companies' products from their competitors' offerings. Packaging One of the dangers of hiring celebrities like Mel Gibson to endorse a company's products is that when they engage in embarrassing behaviour, to the degree that they are associated with the company's brands, their actions hurt: brand equity Brand awareness matters most for products that are: bought without much thought, such as bread and candy. If consumers think that the discount store with the lowest prices on food is going to have the lowest prices on all goods, the discount store has achieved positive: brand association Disneyworld ads showing Mickey and Donald and families enjoying wholesome entertainment effectively create a: brand personality. Which of the following is a potential benefit of brand extension? all of the above. It allows the perception of a brand with a quality image to be carried over to the new product. It lowers marketing costs. It can boost sales of the core brand. The firm can spend less on creating brand awareness and associations

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_____________ occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold Brand dilution Which of the following is NOT likely to be included in a brand licensing agreement retail price

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Ch 10
1. _______________ turns ideas into tangible products. Technological research 2. New products allow a firm to: go beyond marketing only to current customers or similar

customers.

3. Atari was a pioneer in the electronic game market, which: all of the above.

allowed competitors to focus on creating demand for their brand. paved the way for PlayStation in that product category. allowed other competing firms to spend less on introductory advertising. allowed competitors to focus on making improved versions.
4. The ____________________________ focuses on the rate at which consumers are likely to adopt

a new product or service. diffusion of innovation theory

5. Which of the following is NOT one of the characteristics that affect new product diffusion?

Electability
6. The group of consumers in the diffusion of innovation model that represents approximately 34

percent of the population; members dont like to take much risk and therefore tend to wait until bugs are worked out is called: early majority
7. During __________________________, moderators will likely channel participants' attention to

product features, performance expectations, packaging, or product attributes. brainstorming sessions

8. Valerie is involved in ___________________, taking apart a competitor's product, analyzing it, and

trying to create an improved product that does not infringe on the competitor's patents. reverse engineering
9. During ______________ for a new product, a marketer will likely ask consumers whether they

would buy the product, how frequently would they purchase it, and whether consumers think it is a good value for the price being suggested. concept testing
10. When Red Lobster comes up with a new entre for its restaurants, they often market it in a dozen or

so of their outlets. When they do this, they are engaged in:TEST MARKETING
11. Reginald is assessing the results of a recent books-on-tape new product launch for his bookstore.

When evaluating the results, Reginald will likely consider: all of the above. where in the store to display the new product line. are the books-on-tape generating the expected level of profit. are the books-on-tape generating the expected level of sales. are her customers interested in the new products.
12. Which of the following is the correct order for the product life cycle? introduction, growth,

maturity, decline.
13. The stage of the product life cycle when the product gains acceptance, demand and sales increase,

and competitors emerge in the product category is called: Growth stage

14. The typical consumers at the majority stage of the product life cycle could be called: Late majority

CH 11

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Many hotels use _________________ to overcome the problem of inseparability of services. satisfaction guarantees Because services like airline flights and hotel beds are perishable, many marketers attempt to match demand with supply using: pricing strategies. The _______________is designed to highlight those areas where customers believe they are getting less or poorer service than they should. Gaps Model Firms can close the knowledge gap by: matching customer expectations with actual service through research. Firms can attempt to close a standards gap by: setting appropriate service standards and measuring service performance Which of the following is one of the five dimensions used by consumers to determine overall service quality. all of the above, ASSURANCE, RELIABILITY, EMPATHY, RESPONSIVENESS To develop a zone of tolerance analysis, a market researcher would likely ask customers about all of the following EXCEPT: their ethnicity and marital status. Dino is training service providers to know exactly what a "good job" entails. Dino is setting service:STANDARDS The difference between the firms service standards and the actual service it provides to customers is known as: DELIVERY GAP The communication gap pertains to: the difference between the service promised and the service actually delivered. Which of the following is NOT one of the four core difference between services and goodsINNOVATIVE Effective service recovery efforts can significantly help increase the following: all of the above, CUSTOMER SASTISFACTION, PURCHASE INTENTIONS, POSITIVE WORD OF MOUTH,

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Ch 12
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Price is the_______________________ a consumer is willing to make to acquire a specific product or service. overall sacrifice While most consumers like a low price, they want: high value Victor is like many managers; traditionally he has determined the prices for his products by either adding up his costs and adding a profit margin or looking at what competitors were charging. The practice of colluding with other firms to control prices is called: PRICE FIXING Which of the following is NOT one of the Five C's of Pricing? CUSTOMIZATION Which of the following is a common company objective?ALL OF THE ABOVE, PROFITORIENTED, SALES, COMPETITIOR, CONSUMER

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The _______________ shows the relationship between price and quantity demanded in a period of time. DEMAND CURVE Price elasticity of demand measures consumers': SENSIVITY TO PRICE CHANGES If a 1 percent decrease in price results in less than a one percent increase in quantity demanded, demand is: PRICE INELASTIC The fewer substitutes that exist in a market: the lower the price elasticity for each product. If the price for a product decreases, the demand for its substitute will: DECREASE Fixed costs are costs that: remain constant as the volume of production increases or decreases. Rebecca estimates the fixed costs associated with opening a new fast food outlet are $500,000. She estimates the store will attract 100,000 customers per year. The cost of each meal will be $5. She estimates sales will be $800,000 annually. For Rebecca, the total cost of opening the new branch and remaining open for one year will be: 1,000,000. If the fixed costs of opening an Internet specialty sporting goods business are $20,000, price is $60 and variable cost per unit are $20, the break-even point in units is: 500 Compared to other pricing methods, cost-based pricing: is relatively simple. One of the difficulties associated with ________________ is it necessitates a great deal of consumer research to be implemented successfully. value-based pricing A _________________ is an example of an external reference price. "regular price" or "original price" Consumers who line up on "Black Friday" (the day after Thanksgiving) at 1 a.m. in order to be among the first to buy sale items are likely to respond to a __________________ pricing strategy HIGH/LOW (before was high price, now is low price) In addition to brand names, consumers often use __________________ to judge quality. ALL OF THE ABOVE , THE STORE, PRICES, WARRANTIES, WHERE THE PROD WAS PRODUCED Marketers use a price skimming strategy to: ALL THE AOBVE; recoup high research and development costs., to signal high quality., LIMIT DEMAND, test consumers' price sensitivity. If Starbucks introduced a new home coffee brewing system for which consumers could only use Starbucks coffee and coffee filters, they might logically use a ______________ pricing strategy for their coffee brewing systems in order to profit from the sale of coffee and filters. MARKET PENETRATION Which of the following is a common business to business pricing tactic? ALL ; SEASONAL DISCOUNTS, SLOTTING ALLOWANCES, QUANTITY DISCOUNTS, ADVERTISING ALLOWANCES ____________________ are most common form of a quantity discount for consumers. SIZE DISCOUNTS

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The goal of coupons is all of the following EXCEPT: induce compensatory price reforms. If all members of the Regina Area Realty Association agreed to charge a 6 percent commission for representing home sellers, the association members would be engaging in: horizontal price fixing.

CH 13
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A ___________ refers to the institutions that transfer ownership of and move goods from the point of production to the point of consumption. distribution channel Supply chain management systems include of the following EXCEPT: CONSUMERS Which of the following is a common activity associated with logistics management? ALL ; DEMAND FORECASTING, INVENTORY CONTROL, RETURN GOODS HANDLING, ORDER PROCESSING Marketing managers often focus on ____________, while logistics managers focus on _____________, causing conflict when trying to provide value to customers. maximizing sales; minimizing costs As a very small golf equipment manufacturer, Dr. Putt maintained information using bookkeeping and inventory management software, and communicated with customers through e-mail. As business expanded, Dr. Putt knew he needed an electronic data interchange which would allow him to do all of the following EXCEPT: increase sales. A ______________ Refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless value chain in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time: supply chain management

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RFID tags have dramatically reduced the time and labour associated with: checking and receiving merchandise Managing supply chains through strategic relationships requires the following EXCEPT. Opportunism The computer-to-computer exchange of business documents from a retailer to a vendor and back is called:edi For a JIT system to be successful, the firm and its vendors need to do all of the following EXCEPT:compete Manufacturers of _______________ frequently use selective distribution intensity, knowing consumers are willing to spend time comparing alternatives. Shopping goods A supply chain system in which there is no common ownership and no contractual relationships, but the dominant channel member controls the channel relationship is well known as: administered vertical marketing system

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The following is NOT a transactional function in a distribution channel STORING

CH 14
1. Before opening a retail store, which question(s) do retailers need to address? ALL; Where will

customers want the products?, When will customers want the products?, What prices will customers be willing to pay?, What assortment of products will customers want?
2. Wholesalers sell to:BUSINESSES, MANUFACTUERRS, RETAILERS, INDSUTRIAL USERS 3. Retailers like Wal-Mart, Home Depot, and Loblaws dictate to their suppliers all of the following

EXCEPT: which customers to sell to.

4. To maintain their positions, Big Middle retailers like Home Depot and Best Buy need to: all of the

above. keep an eye on their target market segments. do anything they can to retain loyal customers. keep an eye on their competitors. understand their strengths and weaknesses.
5. Coupons, rebates, and online discounts are types of ___________________ used by retailers.

pricing promotions
6. Retailers use all of the following EXCEPT_______________ to create an atmosphere that will offer

a more pleasant shopping experience. SUPPLY CHAINS

7. Which of the following is NOT a form of non-store retailing? NONE; KIOSK, PERSONAL SELLING,

DIRECT RESPONSE TV, CATALOGUE

8. ___________________ is the most important innovation in retailing in the last twenty years E-

RETAILING
9. Julian often does his Christmas shopping on the Internet during his lunch break. For Julian, Internet

retailing provides the benefit of: ACCESSIBILITY

10. Payless ShoeSource that focuses on selling footwear is an example of: SPECIALTY STORE 11. A ___________________is a retailer with such an extensive assortment in a particular category that

would-be competitors do not bother carrying that category of products and instead, simply refer customers to the other firm. CATEGORY KILLER
12. In recent years, _______________have lost market share to discount and specialty stores. DEPT

STORES CH 15
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Integrated marketing communications includes: ALL; personal selling, ADVERTISING, PR, DIRECT MARKETING The IMC communication process includes all of the following EXCEPT: the objective and task method.

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If you have ever driven by a billboard and wondered "What were they promoting?" you may have had trouble _____________ the IMC message. DECODING Which of the following is NOT a step in the planning process of an IMC campaign? design a positioning\ The first goal of a marketing communication is to:BUILD AWARENESS Signage is an IMC tool to typically build: AWARENESS Many marketers are shifting marketing communication resources away from ________________ and toward direct marketing. Advertising Compared to other IMC alternatives, _______________ is extremely effective for creating awareness and generating interest in a product. Advertising Sales promotions such as contests and sweepstakes are used as part of many firms' CRM programs to: build customer loyalty. When purchasing shoes on Zappos.com, Kathy is shown a message saying "Customers who purchased (your shoes) also purchased........." This is an example of: direct marketing. Public relations are becoming a larger part of many companies' IMC efforts because: consumers have become more sceptical of marketing claims. A____________ is a strategy of differentiating a product by communicating its specific attributes, often becomes the common theme or slogan in the entire advertising campaign. unique selling proposition ____________ is an advertising schedule in which periods of heavy advertising are followed by periods of no advertising. flighting schedule Gross rating points (GRP)= reach x frequency Magazines, radio, and the Internet are ___________________ used for advertising.mediums (n) ______________is crucial to an ad campaign because it will later be used to measure the success or failure of the campaign. ADVERTISING PLAN The advertising budget for a campaign depends on: ALL; NATURE OF PROD, NATURE OF MARKET, OTHER PROMOTIONAL EFFORS THE FIRM IS DOING, STTAGE IN THE PLC A(n) _______________ advertising message will appeal to consumers' fears, sense of humour, nostalgia, or other feelings. EMOTIONAL Which of the following is NOT a mass media advertising channel? CONSUMER REPORTS The effectiveness of an advertising campaign depends on all of the following EXCEPT: changes in the accounting department.

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CH 16
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Which of the following is NOT one of the steps in the AIDA model? DESIGNING

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The difference between advertising and public relations (PR) that PR is: not a paid form of marketing communication. The three objectives of advertising are to: inform, persuade, or remind Top-of-the-mind awareness occurs when consumers: think of a firm's brand almost automatically. "We are your local university" ad campaign is a(n) ________________ campaign. institutional advertising Which of the following is NOT one of the federal agencies or a piece of legislation that regulate advertising activities in Canada? Advertising Bureau Canada Personal selling can take place in which of the following situations? `ALL; FACE TO FACE, OVER INTERNET, VIDEO TELECONFERENCING, OVER TELEPHONE Which of the following is NOT one the benefits associated with a career in sales? GOVT PENSION The basic consideration that determines whether a company will hire a sales force is: is a sales force worth more than it costs? Elliot works in the office of a building materials company. One of his jobs is to identify new building projects and determine who will make the building materials purchase decision. Elliot is involved in the _______________ step of the selling process. GENERATE LEADS In B2B market situations, it is particularly important to: continually find new and potentially profitable customers. Trade shows are a particularly good source of ____________ sales leads.B2B The preapproach stage occurs prior to meeting the customer for the first time and: extends the qualification of leads procedure. Overcoming objections during the selling process is also known as: handling reservations. In the selling process, the follow-up stage is best characterized by the saying: "It ain't over till it's over." What is the primary objective of the use of coupons? stimulate demand What is the primary objective of the use of product placement? demonstrate product uses What is the primary objective of the use of promotional contests? increase consumer involvement What is the primary disadvantage of deals? may reduce perception of value What is the primary disadvantage of samples? has high cost to the firm What is the primary disadvantage of sweepstakes? sales often decline after Using sales promotions like coupons may cause consumers to stockpile the products and ____________ for those products in the future: decrease demand

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CH 17

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Globalization refers to the process by which _____________ flow across national borders. ALL; G+S, CAPITAL, PPL, IDEAS Changes in _________________ have been the driving force for growth in global markets for decades.TECH GATT, agreed upon in 1948, was designed to: lower trade barriers. THE WTOALL ; assists developing countries with trade policy issues, ACTS AS A FORUM FOR TRADE NEGOTIATIONS, SETTLES TRADE DISPUTES, REVIEWS NATIONAL TRADE POLICIES. _____________ is the most common measure of market potential of an economy. GDP When Danielle assessed infrastructure conditions in Cameroon, she assessed the country's _________________ capabilities. ALL; COMMUNICATIONS, POST OFFICES, WATER+POWER LINES, TRANSPORTATIOKN A _________________ is a tax levied on a good imported into a country. TARIFF Which of the following is NOT one of the major trade agreements affecting global marketing? IMF Which of the following is one of Hofstede's cultural dimensions? ALL; POWER DISTANCES, TIME ORIENTATION, MACULINITY, INDIVIDUALISM When firms create a joint venture, they: pool their resources to enter a new market. Direct investment: requires the highest level of investment and exposes the firm to significant risks. Which of the following is an ethical concern associated with global marketing?ALL; ENVIRO DMG, WORKIGN CONDITIONS, WAGES PAID TO FACTORY WORKERS, CULTURAL IMPERIALISM A global marketing strategy includes the following two components: determining the target market and developing a marketing mix A collaborative relationship between independent firms, though the partnering firms do not do not invest in one another is well known as: STRATEGIC ALLIANCE

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