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200 Cards in this Set
- Front
- Back
Under ________, the market consists of many buyers and sellers trading in a uniform commodity such as wheat, copper, or financial securities. |
pure competition |
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Which of the following is least likely to be one of the benefits for the buyer in direct marketing? |
guaranteed low prices |
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Which of the following should be the first step in designing a marketing channel? |
identifying what consumers want from the channel |
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Advertising "puffery" is a term for ________. |
innocent exaggeration for effect |
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Because consumers expect stores to carry their favourite brand, the owner of the brand has ________ in bargaining with resellers. |
more leverage |
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Which promotional mix strategy directs marketing efforts toward final consumers? |
pull |
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When a company determines the number of channel members to use at each level, three strategies are available: intensive, exclusive, and ________ distribution. |
selective |
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A ________ is a name, term, sign, symbol or design that identifies the maker or seller of a product or service. |
brand |
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Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________. |
advertising |
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________ tend to be plain, straightforward outlines of benefits and positioning points that the advertiser wants to stress. |
Message strategy statements |
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The prospecting step in the selling process includes identifying and ________ the prospects. |
qualifying |
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Which of the following is an example of a media that an advertiser might use to reach larger customer segments? |
network television |
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Consumers view a brand as an important part of a product and branding can add ________. |
value |
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A key element in a company's relationship with consumers, a ________ represents consumers' perceptions and feelings about a product and its performance. |
brand |
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A ________ involves the use of a successful brand name to launch new or modified products in a new category. |
brand extension |
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The fundamental asset underlying brand equity is ________–the value of the customer relationships that the brand creates. A powerful brand is important, but what it really represents is a set of loyal consumers. |
customer equity |
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In ________, price is considered along with the other marketing mix variables before the marketing program is set. |
value-based pricing |
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Which promotional tool is most effective in building up buyers' preferences, convictions, and, most importantly, actions? |
personal selling |
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Advertising ________ can be classified by primary purpose–whether the aim is to inform, persuade, or remind. |
objectives |
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________ 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 |
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________ 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 |
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Which description of a salesperson fits best with today's relationship marketing focus and solutions approach? |
a listener, an understander, and a problem-solver salesperson |
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Swatch surveyed the market and identified an unserved segment of watch buyers. Using these results, they created a watch at a price consumers were willing to pay. The unorthodox order of this marketing mix decision is an example of ________. |
target costing |
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The aim of sales management motivation is to encourage salespeople to ________. |
"work hard" |
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Lobbying, or building and maintaining relations with legislators and government officials to influence legislation and regulation, is a function of ________. |
public relations |
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East Bay Communications has increased its inside sales force. Which of the following will least likely help its outside sales force? |
It will improve their use of sales automation technology. |
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Which type of product might require a more direct marketing channel to avoid delays and too much handling? |
perishable products |
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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. |
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When Circuit Town Electronics sets its televisions at three price levels of $699, $899, and $1,099, it is using ________. |
product line pricing |
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For most companies, the first step in conducting online marketing is to ________. |
create a Web site |
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When amusement parks and movie theaters charge admission plus fees for food and other attractions, they are following a(n) ________ pricing strategy. |
captive-product |
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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 behavioural system |
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When a company uses film makers, artists or musicians to help sell their brands it is called ________. |
branded entertainment |
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A salesperson's compensation plan is typically made up of several elements–a fixed amount, ________, expenses, and fringe benefits. |
a variable amount |
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Which of the following is the most likely disadvantage of adding new channels in a multichannel distribution system? |
decreasing control over the system |
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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. |
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How does a company's effective use of a customer database benefit consumers? |
Companies match customer needs and interests with products and services. |
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After a company has determined its sales force structure, it is ready to determine what ________ it needs. |
sales force size |
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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 |
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A company's total marketing communications mix consists of a special blend of advertising, sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to communicate customer value and build customer relationships. This is also called ________. |
the promotion mix |
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________ becomes more important as competition increases. The company's objective is to build selective demand. |
Persuasive advertising |
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Which of the following statements is true according to your text? |
Salespeople often need special encouragement to do their best. |
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Price is the only element in the marketing mix that produces ________. |
revenue |
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The promotion mix is the company's primary communication activity; the marketing mix must be coordinated for the greatest communication impact. Which of the following are included in the entire marketing mix? |
promotion, price |
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The marketing concept recognizes that organizations thrive from day to day by determining ________ of target group customers and fulfilling those more effectively and efficiently than competitors do. |
needs and wants |
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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 |
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Helping the salesforce "work smart" is the goal of ________. |
sales supervision |
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Which promotional mix strategy directs marketing efforts toward market channel members? |
push |
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What does the term viral marketing mean? |
It is the Internet version of word-of-mouth marketing. |
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An IBM sales representative is giving a product demonstration to a Best Buy representative. Assisting with the demonstration are a Best Buy 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 |
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The simplest pricing method is ________. |
cost-plus pricing |
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When a firm sets out to analyze, plan, implement, and control sales force activities, it is undertaking ________. |
sales force management |
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You are looking to advertise your new product, and you want good mass-marketing coverage and low cost per exposure. You should choose ________ as your advertising media. |
television |
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Developing an effective message strategy begins with identifying ________ that can be used as advertising appeals. |
customer benefits |
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________ are designed to engage consumers in interactions that will move them closer to a direct purchase or other marketing outcome. |
Marketing Web sites |
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BMW was the first company to create branded entertainment in the form of a series of short films. In each film the star was ________. |
a BMW car |
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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 |
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All of the institutions in a channel are connected by flows, including physical flow, flow of ownership, payment flow, information flow, and ________ flow. |
promotion |
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Which activity is a typical for a sales assistant? |
call ahead and confirm appointments |
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Which of the following is a manufacturer's brand sponsorship options for a product? |
Licensed brand |
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Which of the following is the least desirable quality for a brand name? |
The name should be a long word to get attention. |
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Sales applicants are most likely to be tested for ________. |
personality traits, analytical skills |
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Even though hard economic times have forced national brand marketers to rethink their pitch to be more value focused, in the long run these national brand marketers should not abandon ________. |
the core proposition of their brand |
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Producers benefit from using intermediaries because they ________. |
offer greater efficiency in making goods available to target markets |
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Which of the following is a part of sales force automation systems frequently used by salespeople? |
customer-contact and relationship management software |
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Critics claim that companies in the ________ industries introduce planned streams of new products that make older models obsolete, a form of planned obsolescence that harms consumers. |
consumer electronics and computer |
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The use of short-term incentives to encourage the purchase or sale of a product or service is called ________. |
sales promotion |
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At Garden and Deck Decor, a manufacturer of outdoor furniture and accessories, the marketing and sales force objectives are to grow relationships with existing customers while at the same time acquiring new business. Which of the following sales force compensation plans is most likely to encourage the sales force to pursue both of these objectives? |
salary plus commission plus bonus for new accounts |
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Which of the following are major categories in the promotion mix? |
advertising, sales promotion |
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One of the advantages of direct marketing for sellers is that direct marketing ________. |
offers access to buyers outside local markets |
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Adams Cutlery has always relied upon advertising to market its products to final customers. However, now the marketing team at Adams Cutlery is considering beginning a direct marketing campaign consisting of a company Web site, e-mail to current customers, and an online catalog. Which of the following would the marketing team expect to gain as a result of implementing this direct marketing plan? |
the ability to learn more about their customers and tailor offerings to fit their needs |
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A company should think of its intermediaries as both its ________ and ________. |
customers; partners |
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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 |
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Companies need to think of themselves as portfolios of ________ and not portfolios of _________. |
people, products |
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________ is the amount of money charged for a product or service. |
Price |
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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 |
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Chewing gum is stocked in many outlets in the same market or community; in fact, it is placed in as many outlets as possible. This is an example of ________ distribution. |
intensive |
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Planned obsolescence might involve which of the following? |
the holding back of attractive functional features, then introducing them later to make older models obsolete |
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Which of the following are the three major types of vertical marketing systems? |
corporate, contractual, and administered |
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Integrated marketing communications require a company's mass-market advertisements, Web site, e-mail, and personal selling communications to all have ________. |
the same message, look, and feel |
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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 |
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Channel conflict can ________ different levels of the same channel or ________ firms at the same level of the channel. |
?Channel conflict may occur among firms at the same level ofthe channel. Or conflicts may occur between different levels of the same channel. Channel conflict: |
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A company might introduce a new brand, especially of they believe ________. |
A company might believe that the power of its existing brand name is |
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Which of the following is a potential drawback of using Sales 2.0 technologies to make sales presentations and service accounts? |
The systems can intimidate some clients and salespeople, making them uncomfortable with the process. |
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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 |
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For many years, ________ have dominated the media mix used by national advertisers. |
television and magazines |
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________, 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 |
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A conventional distribution channel consists of one or more ________ producers, wholesalers, and retailers. |
independent |
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Companies are always looking for ways to increase selling time. Which of the following are ways to save time to accomplish this goal? |
Develop better call and routing plans. |
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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 |
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Marketers of which of the following types of products would likely find it most challenging to attract visitors to a brand or marketing Web site? |
writing tools |
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Marketing logistics involves which of the following distribution flows? |
outbound, inbound, and reverse only |
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After determining its advertising objectives, the company's next step in developing an advertising program is to ________. |
set its advertising budget |
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Of the three typical types of sales force structures, which one assigns an exclusive geographical area to each salesperson and requires each salesperson to represent the company's full line of products to customers within that area? |
territorial |
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Green Gardens is a click-and-mortar seller of gardening and landscaping goods and equipment. The marketing department wants to encourage shoppers at the physical stores to use the company's online catalog to order items that are not available at a given retail location. Which of the following marketing devices is the best match for this goal? |
kiosks |
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Which of the following problems associated with the poor selection of salespeople is least likely to become a real crisis? |
less office support |
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A company's channel decisions directly affect every ________. |
marketing decision |
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Which of the following is one of the main four consumer perception dimensions used by ad agency Young & Rubicam to measure brand strength? |
differentiation (what makes the brand stand |
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The _________ is the sum total of all the attributes of a brand, and the emotions it inspires in the minds of consumers. |
brand personality |
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Which of the following is an advantage of a well-designed and targeted telemarketing plan? |
purchasing convenience |
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According to the text, consumer preference isn't based on taste alone. Consumers attach ________ to brands and develop ________ that go beyond a product's physical attributes. |
meaning, relationships |
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Which of the following best explains why many companies are adopting the team selling approach to service large, complex accounts? |
Products have become too complex, and customers too big for one salesperson to support. |
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Catalogs, brochures, samples, and DVDs are all examples of which type of marketing? |
direct-mail marketing |
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Which of the following are important decisions during the process of developing an advertising program? |
setting advertising objectives, setting the advertising budget |
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An advantage of a vertical marketing system (VMS) over a conventional distribution channel is that it acts as a ________ system. |
unified |
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A distinguishing feature of a contractual VMS is that coordination and conflict management among the independent members of the channel are attained through ________. |
contractual agreements |
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In response to charges of ________, marketers point out that advertising makes much of television and radio free to users and also keeps down the cost of magazines and newspapers. |
cultural pollution |
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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 |
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Consumers Union, the nonprofit testing and information organization, publishes ________ to assist the consumer in choosing products and to encourage businesses to eliminate product flaws. |
Consumer Reports |
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Deceptive marketing practices fall into three groups: deceptive ________, deceptive ________, and deceptive ________. |
pricing; promotion; packaging |
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A long-standing charge against intermediaries is that they mark up prices beyond the ________. |
value of their services |
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Logos, stationery, brochures, signs, business forms, business cards, buildings, uniforms, and company trucks are all examples of ________ that help a company create an identity the public immediately recognizes. |
corporate identity materials |
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When Pepsi came out with Pepsi Blue and priced it at half price to attract buyers, Pepsi was using ________. |
market-penetration pricing |
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Ads that are built around dream themes use which type of execution style? |
fantasy |
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Consumers usually perceive higher-priced products as ________. |
having a higher quality |
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When McDonald's offers its products inside of a Wal-Mart store, it is acting as part of a ________. |
horizontal marketing system |
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What are the two goals of direct marketing? |
to obtain an immediate response and build a lasting customer relationship |
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________ calls for meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs. |
Sustainable marketing |
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Critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers would most likely respond to this criticism by arguing that advertising adds ________. |
value by providing information about product availability and merits of a brand |
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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(n) ________. |
promotional allowance |
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Apple recently ran ads featuring real people who had switched from Microsoft Windows-based PCs to Macs. When companies use people, actors, or sports celebrities as product endorsers, what kind of execution style is being used? |
testimonial evidence |
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A salesperson's ________ is often related to how well he or she meets a set quota. |
compensation |
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Organic Designs is a small, successful chain of stores offering stylish clothes made of all-organic materials for infants, toddlers, and young children. Most of the Organic Designs stores are located in urban areas. Now Organic Designs is considering using direct marketing to reach potential customers who live outside of the company's existing markets, with the goal of creating emotional connections and long-term relationships with a new group of customers. Which of the following methods of direct marketing would likely be most effective in accomplishing this goal? |
catalog marketing |
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Companies are doing less ________ and more ________ as a result of an explosion of more focused media that better match today's targeting strategies. |
broadcasting; narrowcasting |
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Which of the following are some of the major steps in selecting advertising media? |
deciding on reach, frequency, and impact, choosing among major media types |
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________ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. |
Retailing |
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A great ________ absolutely requires a strong, memorable name. |
brand |
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________ is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers. |
Consumerism |
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Direct marketing is continuing to become more ________ oriented. |
Web |
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________ uses buyers' perceptions of what a product is worth, not the seller's cost, as the key to pricing. |
Value-based pricing |
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________ describes how responsive demand will be to a change in price. |
Price elasticity |
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Soaring media costs, focused target marketing strategies, and the growing array of new media have increased the importance of ________. |
media planning |
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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 |
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If demand hardly changes with a small change in price, we say the demand is ________. |
inelastic |
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Of the following, which is the LEAST creative sales position? |
order taker |
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A company can unite its marketing and sales functions through many activities. Which is the least likely to be effective? |
assigning a telemarketer the task of visiting a customer |
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Recently General Motors was on the brink of bankruptcy. One of the solutions was to deal with their problem of multibranding. What did GM do to reduce costs and increase profitability? |
They cut many modest or failing brands to focus on their stronger brands. |
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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 |
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The most logical budget-setting method is the ________ method because it is based on spending necessary to accomplish specific promotion goals. |
objective-and-task |
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When choosing a brand name, the process begins with ________. |
It begins with a careful review ofthe product and its benefits, the •It should suggest something about the type of products it will brand. •It should be capable of registration and protection as a trademark. |
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Branding helps consumers in many ways. Which of the following is definitely one way? |
Brand names help customers identify products that might benefit them. |
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Large marketing companies can use patents and heavy promotion spending to ________. |
set up barriers for others wanting to enter the industry |
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Which of the following is the term for the individuals in a company who travel to call on customers in the field? |
outside sales force |
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If Northwest Awnings charges the same price for delivery of their product to any customer that is located within the Great Lakes states, the company is using ________. |
zone pricing |
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Which of the following is a deception or fraud concern for Internet users and marketers? |
eavesdropping |
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With an understanding of price elasticity, sellers should know that the less elastic the demand for their product is, the more advantageous it is for them to ________. |
raise the price |
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Which of the following is a cost-based approach to pricing? |
break-even pricing |
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The goal of marketing logistics should be to provide a ________ level of customer service at the least cost. |
targeted |
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Which of the following is likely to be the least effective action that a company can take to combat a competitor's price cut on a product? |
bundle products together |
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________ 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 |
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Members of a company's ________ conduct business from their offices through the telephone, the Internet, or visits from customers. |
inside sales force |
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When a competitor cuts its price, a company might 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 price and profit margin |
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________ occurs when two established brand names of different companies are used on the same product. |
Co-branding |
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________ are the sum of the ________ and ________ for any given level of production. |
Total costs; fixed; variable costs |
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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 |
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Information about a customer's activities and interests are all ________ in a customer database. |
psychographics |
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Sometimes a producer chooses only a few dealers in a territory to distribute its products or services. Generally these dealers are given a right to ________ distribution. |
exclusive |
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Management uses the workload approach to ________. |
set the size of the sales force |
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Companies that use a customer sales force structure organize their salespeople by ________. |
industry |
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________ is the message execution style that depicts one or more typical people using the product in a normal setting. |
Slice of life |
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To increase a channel's service level, the channel must provide a greater assortment of products, more add-on services, and ________. |
faster delivery |
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Which of the following promotion tools involves personal presentation by the firm's sales force for the purpose of making sales and building customer relationships? |
personal selling |
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Measuring ________ can be difficult. A company might conduct surveys or experiments to test this in the different products they offer. |
perceived value |
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________ is the company's most expensive promotion tool. |
Personal selling |
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Which of the following is the least likely reason for a company to initiate a price cut? |
to obtain prestige |
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________ are facing slow sales growth because of slower population growth, increased competition, and the rapid growth of out-of-home eating. |
Supermarkets |
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Under ________, the market consists of a few sellers who are highly sensitive to each other's pricing and marketing strategies. |
oligopolistic competition |
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________ consists of short-term incentives to encourage the purchase or sale of a product or service. |
Sales promotion |
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________ prices are the prices that buyers carry in their mind and refers to when looking at a given product. |
Reference |
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Kathy Champe, a public relations specialist for a regional chain of pharmacies, regularly contacts members of the local and state-wide media with information about community events and charity fundraisers sponsored by her company. This is an example of the ________ function of public relations. |
press relations |
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In marketing terms, we say that the number of intermediary levels indicates the ________ of a channel. |
length |
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Due to worsening economic times customers are becoming more cost conscious and increasingly are abandoning ________ in favour of ________. |
national brands, private brands |
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Which of the following is a factor in the changes occurring in today's marketing communications? |
Improvements in communication technologies are changing how companies and customers communicate with each other. |
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Another term for the supply chain that suggests a sense-and-respond view of the market is ________. |
demand chain |
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Of the seven Cs of effective Web site design, ________ refers to the ways that the site enables user-to-user communication. |
community |
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Today, direct marketing relies heavily on database technologies and new marketing media. Early direct marketers primarily used direct mailers, telemarketing, and ________. |
catalogs |
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Due in a large part to advances in technology, ________ is a major trend whereby product and service producers are bypassing intermediaries and going directly to final buyers, or radically new types of channel intermediaries are emerging to displace traditional ones. |
disintermediation |
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________ involves charging a constant low price with few or no temporary price discounts. |
Everyday low pricing (EDLP) |
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How has the National Do Not Call Registry changed the telemarketing industry? |
Telemarketers are more effectively managing relationships with existing customers. |
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An e-mail from Amazon.ca offers free shipping on your next purchase of more than $40. This is an example of a ________. |
sales promotion |
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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 |
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Specialty stores carry ________ with ________ within them. |
narrow product lines; deep assortments |
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The most common type of contractual VMS agreement in business is the ________. |
franchise organization |
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Which of the following types of ads can users block through the use of applications developed by Web browser providers? |
pop-ups |
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Which promotional tool is described as less public, immediate, customized, and interactive? |
direct marketing |
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When consumers can drive transactions with businesses, what type of online marketing is being used? |
consumer-to-business |
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In designing its marketing channel, Chairs for Every Occasion has moved from a make-and-sell view of its business, which focused on productive inputs and factory capacity as a starting point for marketing planning, to a sense-and-respond view, which begins instead with the needs of target customers. With this new view, Chairs for Every Occasion is developing its ________. |
demand chain |
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Consumer advocates call for which of the following additional consumer? |
The right to be well informed about important product aspects. |
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Under ________, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price. |
monopolistic competition |
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Costs that vary directly with the level of production are referred to as ________ costs. |
variable |
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Companies should state their channel objectives in terms of targeted levels of ________. |
customer service |
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Which of the following is most likely to be seen as the major enduring asset of a company, outlasting the company's specific products and facilities? |
brands |
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Mach 3 razor blades must be used in the Mach 3 razor. Which type of pricing is most likely used? |
captive-product pricing |
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Distribution channel decisions often involve ________ with other firms, particularly those that involve contracts or relationships with channel partners. |
long-term commitments |
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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 |
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The fact that a hot dog cost five times more at Disneyland than at Sam's Club is an example of ________. |
captive-product pricing |
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When a company compares the likely sales, costs, and profitability of different channel alternatives, it is using ________ criteria to evaluate its channel options. |
economic |
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Which of the following best explains why companies often fail to integrate their various communications to consumers? |
Communications often come from different parts of the company. |
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The text tells a story of a couple that designed their wedding around the Black & Decker's DeWalt brand. This is an extreme example of ________. |
brand advocacy |
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Brands occupy a level of social regard with respect to one another. We consider a Rolls-Royce or Bentley car differently than a Chevrolet or Hyundai. This is an example of brand ________. |
status |