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50 Cards in this Set
- Front
- Back
When food lion grocery stores offer milk and eggs at all of its location, it is providing customers with ____________ utility.
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Place
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Emerson, an electronic manufacturer, purchases the wires it needs to make televisions and stereos from various wire manufacturer. Emerson is part of which type of market?
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Producer
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Fern Motors is offering a rebate on cars purchased this month. This activity involves the ________________ of the marketing mix.
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Pricing
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General Mills is setting up a marketing information system to keep track of marketing trends. External sources of marketing data includes all of the following except
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Raw Material Suppliers
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Iron ore in a steel plant is an example of _______________.
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Raw Material
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The Marketing challenge of making potential customers aware of the product’s existence and its features, benefits, and uses is prevalent in which of the product life cycle stages
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Introduction
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Car-Tunes, a national car stereo retailer, markets stereos and speakers. The company will soon sell car alarms and cellular phones to ______________ its product mix.
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Broaden
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The largest number of product ideas are rejected during the _______________ stage of new product development.
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Screening
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The total amount received from the sales of a product is referred to as _____________.
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Total Revenue
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The strategy of setting a low price for a new product to gain a large market share for the product quickly is called
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Peneration Pricing
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Large retail stores that carry not only food and nonfood items ordinarily found in supermarkets but also additional product lines such as small appliances and clothing are known as ______________.
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Superstores
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_________________ involves managing inventories in such a way as to minimize inventory cost, including both holding costs and potential stock-out costs.
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Inventory Management
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In its broader role, promotion serves to expedite exchanges directly and to bring exchanges indirectly. In other words, promotion serves to
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MAINTAIN POSITIVE RELATIONSHIPS BETWEEN A COMPANY AND GROUPS IN THE MARKETING ENVIRNOMENT
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The Air Store, a retail outlet for fans and air conditioners, increased its advertising during the recent unusually hot summer days to encourage customers to make purchases quickly. This type of advertising is called ____________.
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Immediate Response
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Which advertising medium is the most selective?
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Direct mail
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Both inside and outside order takers produce most of their company’s sales through _____________.
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Successful handling of repeat sales
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All of the following are examples of sales promotion expect _______________.
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Direct Response adversiting
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Most data gathered for an MIS come from _________________________.
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Internal Sources
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Form Utility is created by making a product available at a location where customers wish to purchase it.
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False
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Marketing activities amount to about one-half of every dollar that consumers spend.
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True
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From the start of industrial revolution until the early twentieth century, business had a strong production orientation.
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True
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Implementation of the marketing concept requires a firm to obtain information on what customers’ needs are and how those needs are being met by products currently on the market.
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True
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Market segmentation means dividing consumers according to their wants, income, and geographic location.
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True
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During the decline stage of the product life cycle, the sales volume decrease sharply because of an increase in the number of competing firms.
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False
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Price is the amount of money a seller is willing to accept in exchange for a product, at a given time and under given circumstances.
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True
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Management must set pricing objectives based on the primary objective of making a profit.
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False
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Because markup pricing is difficult to use, few retailers and wholesalers use it.
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False
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Costs that depend on the number of units produced are called variable costs.
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True
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One of the major dangers of competition-based pricing is that it often results in price war.
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False
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Differential pricing means different buyers pay different prices for the same quality and quantity of a product.
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True
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A channel of distribution is a sequence of marketing organization that directs a product from the producer to the ultimate user.
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True
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Every channel of distribution, from the simplest to the most complex, begins with the producer and ends with either the consumer or the business user.
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True
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When a producer wants to give its product the widest possible exposure in the marketplace, it choose intensive distribution.
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True
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Exclusive distribution is the use of a single retail outlet in each geographic area.
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True
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Wholesalers assume the credit risk for producers by extending retailers credit, collecting payment from retailers, and assuming the risk of nonpayment.
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True
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An independent retailer is a firm that operates more than one outlet and generally provides personal services.
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False
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With warehouse showrooms, a customer selects the merchandise either from a catalog or from the showroom display, fills out an order form provided by the store, and hands the form to a clerk.
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False
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A neighborhood shopping center usually has at least one large department store to attract customers to the center.
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False
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In terms of total freight carried, trucks are the most important mode of transportation.
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False
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A promotion mix can be defined as communication about an organization and its products that is intended to inform, persuade, or remind target market members.
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True
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The combination of promotion methods that a firm uses to reach a target market is called advertising.
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False
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Determining the location and demographics of people in the advertising target, the content of the message, and the characteristics of the audiences reached by various media is done when creating the advertising message.
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False
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The least expensive of the sales promotion techniques is a premium.
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False
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A premium is an industry-wide exhibit at which many sellers display their products for promotion.
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False
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Industrial products usually are not promoted through personal selling.
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False
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Cognitive Dissonance is when a customer expects a poor product and receives a poor product.
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False
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Relationship marketing is establishing long-term mutually satisfying buyer-seller relationships.
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True
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The number one rule in marketing is to offer excellent solution to a customer.
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False
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According to Bill Kiernan, customers buy solutions or benefits to fulfill the needs or desire they have.
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True
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Undifferentiated Marketing is the approach that is most cost effective as targeting customers narrows the potential too much and can result in lost sales.
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False
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