Quiz Review 2, Business - Marketing

Which of the following are disadvantages of using direct mail and catalogs?

Which of the following is true regarding the choice between the full-cost and contribution margin approaches to marketing cost analysis?

3

A limited-service agency is

in Business

A. an advertising agency that not only provides a complete range of services, including market research, media selection, copy development, artwork, and production, but it also has input into actual product design.
B. an advertising agency that provides the most complete range of services, including market research, media selection, copy development, artwork, and production.
C. a firm that is large enough to carry its own in-house advertising staff to provide all advertising services the company needs.
D. an advertising agency that specializes in one aspect of the advertising process, such as developing advertising copy or providing Internet services.
E. one that sets a firm's advertising objectives, designs the market research, recommends media selection, suggests copy development and artwork, and then allows the firm to implement the recommendations to save the firm money.

4

Mei is considering a CRM project for her small fruit snack company. As she and her top managers debate the issue, what is likely to be biggest financial obstacle to the implementation of a CRM system

5

The decision to buy or not to buy should not focus on a signature.

6

International pricing strategies include

7

McDonald's and Coca-Cola have focused on which of the following needs to create global brand franchises?

8

Ethnographic research is a term borrowed from psychiatry

9

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation

10

In the chi-square analysis, the greater the differences between the observed frequencies and the expected frequencies, the less likely it is that there will be a statistically significant relationship

11

Competition remains constant during a product's life cycle

12

There are people who have similar income and education levels and often share tastes in clothing, decorating styles, and leisure activities

13

When Time, Inc. publishes a kid's version of its Sports Illustrated publication it is attempting to influence today's children to purchase SI when they become adults. This process is an example of

14

When tires on new Ford vehicles were blowing out prematurely, Ford CEO Jacques Nasser blamed Bridgestone/Firestone for the problem. He stated it was not Ford's fault. Nasser was using which strategy?

15

The Omnibus Trade and Competitiveness Act of 1988 focuses on assisting businesses to be more competitive in world markets, but does not get involved in trade practices.

16

Which of the following reference group influence forms is most associated with the following situation? Carl knows that Bert has had experience with various types of motor oils because Bert is a mechanic for a large Cadillac dealership. Carl asks Bert to compare his brand against Quaker State. Bert tells Carl that Quaker State can't be beat for performance and durability.

17

Which of the following is an interviewing method in which the interviewer reads the questions from a computer screen and enters the respondent's data directly into the computer?

18

Studies of public relations practitioners show that participation in management increases when they engage in which one of the following activities?

19

After completing an 18-week sales training program, Joshua was told, "You will be paid 4 percent on net dollar volume up to $10 million. Sales in excess of $10 million command a rate of 6 percent." The company Joshua works for is using a ________ for him after completing the sales training program.

20

Describe two situations in which the benefit summary method of obtaining commitment is most effective.

21

When a company introduces a new product under a strongly established brand name, the length of time to reach the threshold point where advertising becomes effective is normally longer

22

The most useful breakdown of data in a sales analysis is by

23

Aldi is a no-frills grocery chain. It sells grocery staples right out of crates and boxes with emphasis on low-priced, private label brands. Aldi stores are typically about one-third the size of the traditional supermarket. By controlling expenses, Aldi enables its customers to save 30 to 50 percent compared to Kroger customers. The chain targets bargain hunters. In the grocery retailing industry Aldi has a:

24

Gray markets and champagne

25

Marketing ethics concerns the impact of an organization's decisions on society, whereas social responsibility relates to individual decisions.

26

Name and define the techniques for measuring physiological reactions

27

To be identified as a market segment, members of the group must

28

Long-term commitments usually characterize the relationships among channel members.

29

What are the four major types of business markets, and what are the characteristics of each?

The four categories of business markets are producer, reseller, government, and institutional markets. Individuals and business organizations that purchase products for the purpose of making a profit by using them to produce other products or using them in their operations are classified as producer markets. Reseller markets consist of intermediaries, such as wholesalers and retailers, which buy finished goods and resell them for a profit. Aside from making minor alterations, resellers do not change the physical characteristics of the products they handle. Federal, state, county, and local governments make up government markets. These markets spend billions of dollars annually for a wide range of goods and services, ranging from office supplies and health-care services to vehicles, heavy equipment, and weapons, to support their internal operations and provide citizens with such products as highways, education, energy, and national defense. Organizations with charitable, educational, community, or other nonbusiness goals constitute institutional markets. Members of institutional markets include churches, some hospitals, fraternities and sororities, charitable organizations, and private colleges.

30

Hindustan Lever recently developed a hard candy flavored with natural fruit juice that it sells profitably in India for the equivalent of 1 cent per piece. This is Hindustan Lever's first-ever candy product. What strategy is evident here?

31

The success of global marketers of the future will be defined by those who can achieve a balance between:

32

In multiple regression, the multiple R is like a lead indicator. Researchers often convert it into a percent to indicate what percent of the dependent variable is explained by the multiple regression

33

________ are products a consumer needs but isn't willing to spend much time and effort shopping for.

34

A word-of-mouth communication strategy, particularly conducted via the Internet, is often referred to as:

35

During a sentiment analysis, which of the following is applied to the data to filter any irrelevant content that made it into the data set once the data need to be cleansed?

36

Briefly explain how firms develop strategies for a social media marketing plan

37

Emily, a custom homebuilder, observes that the last year's sales were $1,500,000 and the sales growth rate for the past several years has been averaging 10 percent. On that basis, Emily predicts that this year's sales should be $1,650,000. Emily is using the method of trend analysis for forecasting sales

38

Which of the following is most likely true about people's beliefs and values?

39

A company is assessing opportunities in the BRIC companies and determines that ________ is one of the youngest populations in the world and is increasingly adopting global attitudes.

40

Starbucks Loyalty RewardsThe First Starbucks opened in 1970 in Seattle Washington. The demand for its coffee grew and Starbucks added more than 6,000 stores located in over 30 countries. In its more than 30 year history, Starbucks has never given out coupons for its coffee. Starbucks had only to make its coffee and customers came. Recently consumer quality perception of the Starbucks brand has started to fall. Starbucks started a consumer-response blog to learn more about what consumers expect from Starbucks. One of the most frequent requests was for a customer rewards program. In response Starbucks has started the Starbuckscard rewards which offers free refills on brewed coffee, free beverage with whole bean purchase, beverage customization and free Wi-Fi. Starbucks also put coupons in a

41

Which of the following words best describes the goal of supply chain management?

42

Explain how the wheel of retailing works.

43

Normative influence affects ____, which is the likelihood that consumers will buy what others in their group buy

44

Click-throughs remain the primary method used to measure the impact of online advertising

45

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

46

Under what conditions may a company adopt across-the-board market strategy?

47

A key driver of shareholder value is the aggregate value of the customer base. Identify the five strategies employed by successful companies to improve the value of their customer base by attracting and retaining customers

48

Only large firms can successfully adjust their retail strategies in response to consumer preferences

49

A press release announcing a new product will most likely include a ________ of the product

50

The ABC Company usually sells a package of ten razor blades for $9.00 . When the company offers a package of twelve razor blades for $9.00, they are offering a _____

51

Setting relatively high prices to suggest high quality or high status is called

52

Managers who use the communications effects pyramid to set objectives believe that

53

In which phase of the strategic marketing process does a firm obtain resources, design the marketing organization, develop schedules, and execute the marketing program?

54

Branden is in the process of qualifying leads he received from corporate headquarters. Branden will assess

55

Families in the parenthood stage are an important market for luxury goods, new automobiles, expensive furniture, and vacations to faraway places

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Quiz Review 2, Business - Marketing

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