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87 Cards in this Set
- Front
- Back
The buying process is influenced by
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Perceptions, Attitudes, Peer Groups, and Family...
Least influenced by Productivity |
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Which environmental force influences change in consumers' attitudes, customs, and lifestyles?
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Sociocultural
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When customers' needs vary, which approach is more appropriate?
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Market segmentation
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The last step in the marketing research process is
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reaching a conclusion.
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The elements in the marketing mix are used to
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reach the target market
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Which of the following is not one of the steps in implementing the marketing concept?
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1.Obtaining information about existing and potential customers
2.Pinpointing needs and potential customers for further marketing activities 3. Mobilizing marketing resources to provide, promote, and distribute products 4.Obtaining New Information about the effectiveness of efforts. |
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When marketers use data such as sales figures, product and marketing costs, inventory levels, and activities of its sales force to make marketing decisions, they are using which type of data?
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Internal
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What element in the market mix provides information to consumers?
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Promotion
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When factors such as climate, city size, rural area, and urban area are used as indicators, the type of market segmentation.
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Geographic
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During the decline stage of the product life cycle, a product usually declines because of
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Technological Advances
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Psychological pricing strategies include
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multiple-unit pricing
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During which stage is the largest number of product ideas rejected?
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Screening
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What is a major problem with using cost-based pricing?
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It is difficult to determine an effective markup percentage.
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Product
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Can be an idea or a thing received in exchange.
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Product Line
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A Group of similar products
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Product mix
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Includes all products that a firm sells
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Penetration pricing
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A strategy of setting a low price for a new product
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Brand
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A name, symbol, or design that identifies a seller's products.
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Brand name
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The names IBM, Procter & Gamble, and Nike are examples.
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Brand mark
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a symbol or distinctive design of a brand.
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Price Lining
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setting a limited number of prices for selected groups or lines of merchandise.
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Odd-number pricing
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Pricing using odd number that are slightly below whole-dollar amounts.
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Private brand
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Sears' Kenmore is an example.
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Generic Products
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Products labeled with only the name of the product, such as peanut butter.
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Individual branding
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A firm uses a different brand on each its products.
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Family branding
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Branding strategy used by Sony and Dell.
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Packaging
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The basic function is to protect the product
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In which stage of the product life cycle do you find sales increasing, industry profit declining, pricing strategies becoming flexible and marketing incentives being offered?
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Maturity
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Which reason is not valid for rejecting a new product idea?
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The product would allow the company to gain a 10 percent market share.
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These statements are true about competition-based pricing?
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1.The seller emphasizes low price.
2.The seller may set prices below competitors' prices 3.A firm's costs and revenues are secondary to competitors' prices. 4.This strategy is important in markets where competing products are quite similar. Not true...This strategy charges the highest possible price in the first stage of its life cycle. |
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A set of attributes and benefits that has been carefully designed to satisfy its market while earning a profit for the seller is known as a
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Product
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These are concerns of product modification?
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1. Changing one or more of a product's characteristics
2. Existing customers must be able to perceive the modifications 3. Making the product more consistent with customer's desires 4. Making the product more versatile and convenient |
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These service are provided to Manufacturers by Wholesalers?
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1. Assuming credit risks
2. Furnishing market information 3. Reducing inventory costs 4. Providing an instant sales force |
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Which channel of distribution is the usual channel for perishable products?
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Producer to retailer to consumer.
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Public warehouses
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offer their services to all individuals and firms.
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A sales agent may
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represent more than one firm at a time.
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Which statement is not true about regional shopping centers?
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Regional shopping centers attract small independent stores over national stores.
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Wholesaler services to manufacturers include
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gathering information.
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A broker
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is likely hired on a temporary basis.
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Which of the following criteria for selecting a mode of transportation is least- or unimportant?
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Speed
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Which of the following statements is not true about catalog marketing?
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A. Catalog marketing provides limited services.
B. Customers find catalog marketing efficient and convenient. C. Catalog marketing is effective for all types of products. D. Retailers do not have to invest in expensive store fixtures. E. Personal selling expenses are reduced. |
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Which type of marketing intermediary takes title to goods?
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Merchant middleman
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Personal Selling
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It is the most adaptable of all promotional methods.
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Promotion mix
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a combination of methods to reach a target market.
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Cooperative advertising
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An arrangement where producer and retailer share the cost of advertising.
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Selective-demand advertising
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Designed to sell a particular brand of product.
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Comparative advertising
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Usually based on information from a study
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Selective-demand advertising
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Designed to sell a particular brand of product.
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Comparative advertising
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Usually based on information from a study.
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Institutional advertising
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Designed to enhance a firm's image.
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Creative selling
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It determines customer's needs and matches products with those needs.
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Advertising media
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Promotes broad product categories, through various forms of communication.
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Integrated Marketing Communications
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Ensures the maximum informational impact on customers.
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Infomercial
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Program-length televised commercial message.
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Trade salesperson
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Duties include restocking shelves and setting up displays.
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Technical salesperson
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Focuses on how to use a product or how to install it.
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Press Conference
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Important news is announced
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Buying allowance
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It is an incentive to resellers to handle a new product.
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The process of making potential consumers aware of products is known a
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Promotion
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Which factor does not influence the development of a promotion mix?
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1. Target market
2. Characteristics of the product 3. Productivity 4. Promotional resources available 5. Cost of promotional methods |
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A sample is an example of
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sales promotion.
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When a firm wants to increase sales of its products and services, what would you suggest?
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Select the appropriate promotional mix.
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Advertising campaigns are developed to
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1. increase product awareness.
2. convey product information. 3. increase sales by a stated percentage. 4. expand the market share by a given amount. |
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The content and form of an advertising message are influenced by the
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1. product's features.
2. objectives of the campaign. 3. characteristics of the target market. 4. choice of media. |
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Promotional material mailed directly to individuals is known as __________ advertising.
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direct-mail advertising
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Selective-demand advertising
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Is by far the most common type of advertising.
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Television advertising
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reaches national markets.
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Creative selling involves perceiving buyers' needs, supplying information about a firm's products, and persuading customers to buy the product. Which type of salesperson does this job?
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Order Getter
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Personal selling
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It is the most adaptable of all promotional methods.
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Promotion mix
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A combination of methods to reach a target market.
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Cooperative Advertising
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An arrangement where producer and retailer share the cost of advertising.
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Selective-demand advertising
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Designed to sell a particular brand of product
|
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Comparative advertising
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Usually based on information from a study
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Institutional advertising
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Designed to enhance a firm's image.
|
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Creative selling
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It determines customer's needs and matches product with those needs.
|
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Advertising media
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Promotes broad product categories, through various forms of communication
|
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Integrated marketing communications
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Ensures the maximum informational impact on customers.
|
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Infomercial
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Program-length televised commercial
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Trade salesperson
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Duties include restocking shelves and setting up displays.
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Technical salesperson
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Focuses on how to use a product or how to install it
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Press conference
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Important news is announced
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Buying allowance
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It is an incentive to resellers to handle a new product
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The process of making potential consumers aware of products is known as
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promotion.
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Which factor does not influence the development of a promotion mix?
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These influence Promotion mix
1. Target market 2. Characteristics of the product 3. Promotional resources available 4. Cost of promotional methods **Prodctivity does not influence development of P.M. |
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When a firm wants to increase sales of its products and services, what would you suggest?
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Select the appropriate promotional mix.
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Advertising campaigns are developed to
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1. increase product awareness.
2. convey product information. 3. increase sales by a stated percentage. 4. expand the market share by a given amount. |
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Television advertising
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reaches national markets.
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