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150 Cards in this Set
- Front
- Back
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Supply chain management refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their manufacturers, warehouses, transportation intermediaries, stores, and |
Suppliers |
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As noted in your text, each participant in a successful marketing channel adds |
Value |
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All of the following are examples of the value provided by a supply chain in the production of kitchen stoves except |
the product design team develops initial drawings for a new product offering. |
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A _____, which may be operated by retailers, manufacturers, or distribution specialists, is a facility for the receipt, storage, and redistribution of goods to company stores or customers. |
Distribution Center |
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When Clarissa sells the jewelry she makes at craft fairs or on her personal website, she is utilizing a(n) _____ marketing channel. |
Direct |
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In _____ marketing channels, one or more intermediaries work with manufacturers to provide goods and services to customers. |
Indirect |
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When supply chain members that buy and sell to one another are not in agreement about their goals, _____ channel conflict can occur. |
Vertical |
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When there is disagreement among members at the same level of marketing channels such as when Best Buy and Sears engage in a price war on Maytag appliances, _____ channel conflict can occur. |
Horizontal |
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When the members of a marketing channel operate to satisfy their own objectives and maximize their own profits, often at the expense of the other members, the channel operates as |
an independent marketing channel. |
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As the dominant member of the channel of distribution, Coca-Cola holds a lot of power in the relationship with independent grocery stores, and as such, it performs the functions of restocking merchandise, setting up special displays and rotating merchandise. This is an example of |
an administered vertical marketing system. |
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_____ power is exhibited when one channel member wants to be associated with another channel member; the channel member with whom the others want to be associated has the power to get them to do what they want. |
Referent |
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_____ power is when one channel member threatens to punish or punishes another channel member for not undertaking certain tasks, such as delaying payment for a late delivery. |
Coercive |
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When companies enter into agreements that allow them to obtain economies of scale and coordination to reduce conflict, it is an example of |
a contractual vertical marketing system. |
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The most common type of contractual vertical marketing system is |
Franchising |
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The international fashion retailer Zara’s parent company, Inditex, owns the manufacturing plants, warehouse facilities, retail outlets, and design studios, which is an example of |
a corporate vertical marketing system. |
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To create strong partnering relationships, supply chain members must develop mutual trust, openly communicate, have common goals, recognize the benefits of interdependence, and |
be willing to invest in each other’s success. |
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_____ is an electronic document sent by a supplier to a retailer prior to the shipment of a merchandise order. |
An advanced shipping notice |
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Purchase data collected at the point of sale are stored in |
Data warehouses |
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A(n) _____ involves the computer-to-computer transmission of sales data, purchase orders, invoices, and data about returned merchandise between a retailer and its vendors. |
Electronic data interchange |
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Frito-Lay is an example of a company that partners with retailers by implementing _____ system, involving taking on the responsibility of managing inventory levels at the retailers where its products are sold. |
a vendor-managed inventory |
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_______ is an approach for improving marketing channel efficiency in which the manufacturer is responsible for maintaining the retailer’s inventory levels in each of its stores. |
VMI |
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In a distribution center, which person would be responsible for the financial planning and analysis of merchandise, and its allocation to stores? |
Planner |
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The _____ is the person who coordinates deliveries to the distribution center. |
Dispatcher |
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_______ is the process of going through the goods upon receipt to make sure they arrive undamaged and that the merchandise ordered was the merchandise received. |
Checking |
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Radio frequency identification tags are |
tiny computer chips that transmit information about the contents of containers. |
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_____ is a practice in which merchandise cartons are prepackaged by the vendor for a specific store. |
Cross-docking |
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What two additional tasks are required in order to make merchandise “floor-ready”? |
Ticketing and marking |
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A forklift operator in a warehouse who needs to know how much of each item to get from specific storage areas would consult |
a pick ticket. |
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JIT inventory systems are associated with all of the following except |
more inventory to warehouse. |
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The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller’s store ready for sale is referred to as |
lead time. |
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The set of business activities that adds value to products and services sold to consumers for their personal or family use is referred to as |
retailing. |
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When developing strategies for working with retailers, manufacturers must consider whether they should sell in more than one outlet (e.g., store, catalog, and Internet). Which of the following factors for establishing a relationship with retailers deals with this? |
Determining whether or not to use an omnichannel strategy |
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In thinking about the channel structure, the level of difficulty a manufacturer experiences in getting retailers to purchase its products is determined by all of the following except |
the degree to which the channel is horizontally integrated. |
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When choosing retail partners, a high-end cosmetics manufacturer like Estée Lauder would most likely not choose to sell to CVS or Dollar General due to |
customer expectations. |
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Generally, the _____ and _____ sophisticated the channel member, the less likely that it will use supply chain intermediaries. |
larger; more |
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Distribution intensity is commonly divided into three levels. What are they? |
Intensive, exclusive, and selective |
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If Kleenex produced a new, eco-friendly personal-sized package of tissues, which it intended to get into as many retail outlets as possible, it should choose _____ distribution strategy.a variable |
an intensive |
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Luxury goods firms such as Coach use _____ distribution strategy to limit sales to one or only a few select, higher-end retailers in each region, because selling its product in full-line discount stores or off-price retailers would weaken its image. |
an exclusive |
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_____ distribution helps a seller maintain a particular image and control the flow of merchandise into an area which makes this approach attractive to many shopping goods manufacturers, such as most apparel items, home items like branded pots and pans or sheets and towels, branded hardware and tools, and consumer electronics. |
Selective |
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Which of the following food retailers is a self-service retail food store offering groceries, meat, and produce with limited sales of nonfood items? |
Conventional supermarket |
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Offering a one-stop shopping convenience to customers, _______ combine a supermarket with a full-line discount store. |
supercenters |
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Which of the following firms operates more than 3,000 supercenters in the United States accounting for the vast majority of total supercenter sales—far outpacing its competitors? |
Walmart |
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_____ are large retailers (100,000 to 150,000 square feet) that offer a limited and irregular assortment of food and general merchandise, little service, and low prices to the general public and small businesses. |
Warehouse clubs |
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Walmart, Target, and Kmart offer a broad variety of merchandise, limited service, and low prices, which would classify them as |
full-line discount stores. |
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_____ tailor their retail strategy toward very specific market segments by offering deep but narrow assortments and sales associate expertise. |
Specialty stores |
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Which of the following falls into the category of being a general merchandise retailer? |
Category specialist |
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Dollar General and Family Dollar stores are small, full-line discount stores that offer a limited merchandise assortment at very low prices, so they would be classified as |
extreme value retailers. |
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_______ offer an inconsistent assortment of brand name merchandise at a significant discount from the manufacturer's suggested retail price. |
Off-price Retailers. |
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Which of the following would qualify as being a service retailer? |
A health spa |
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A brand that is developed by a national brand vendor, often in conjunction with a retailer, and is sold exclusively by the retailer is referred to as |
an exclusive brand. |
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Retailers may modify product, price, and/or promotion to attempt to increase their _____, which is the percentage of the customer’s purchases made from that particular retailer. |
share of wallet |
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The old cliché claiming the three most important things in retailing are “location, location, location” corresponds to which of the following components of the retail strategy? |
Place |
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Which of the following is considered the greatest advantage offered to consumers by brick-and-mortar stores compared to online shopping? |
being able to use all five senses |
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Salespeople can be particularly helpful when purchasing a(n) _____ product. |
complicated |
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When customers purchase merchandise in stores, the physical presence of the store _____ their perceived risk of buying and _____ their confidence that any problems with the merchandise will be corrected. |
reduces; increases. |
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Stores are limited by their _____, which is generally not an issue when shopping on the Internet. |
size |
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Offering live, online chat options to shoppers is a way of increasing the value of online shopping because it provides |
personalized customer service. |
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Although the number of their physical stores is limited, L.L.Bean is widely known for offering unique, high-quality merchandise. Adding an Internet channel was particularly attractive because it allowed the company to _____ without having to build new stores. |
expand its market presence |
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Patagonia reinforces its image of selling high-quality, environmentally friendly sports equipment in its stores, catalogs, and website. Which of the following omnichannel challenges has Patagonia overcome by emphasizing function, not fashion, in the descriptions of its products in all of its channels? |
Brand Image |
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Both Walmart and JCPenney initially had separate organizations for their Internet channel but subsequently integrated them with stores and catalogs to address the _____ challenge of omnichannel retailing. |
Supply Chain |
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There are three elements in any integrated marketing communication strategy: the _______, the channels through which the message is communicated, and evaluation of the results of the communication. |
consumer being targeted |
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Home Depot hired an advertising agency to develop television ads for its grand opening in southern Maine. The advertising agency represents which of the following components of the communication process? |
Transmitter |
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When designing in-store signage, retailers often develop yellow signs and shelf tags with bold lettering to catch consumers’ attention. The use of visuals in this manner represents the _____ component of the communication process. |
encoding |
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Based on the recommendation of its advertising agency, Home Depot chose to advertise on HGTV. In this situation, HGTV represents which component of the communication process? |
Communication channel |
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In the communication process, _____ refers to the process by which the receiver interprets the sender’s message. |
decoding |
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Macy’s is conducting marketing research to determine whether or not its advertising message could be clearly understood by its customers. This relates to which component of the communication process? |
Feedback loop |
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The AIDA model is also known as the _____ model. |
think, feel, do |
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The AIDA model represents a series of mental stages a consumer goes through and includes awareness, action, interest, and |
desire. |
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Harley Davidson has _____ if a consumer responds "Harley" when asked about American-made motorcycles. |
top-of-mind awareness |
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The highest level of awareness is |
top-of-mind awareness |
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After the firm has piqued the interest of its target market, the goal of subsequent IMC messages should move the consumer from "I like it" to |
"I want it." |
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The fact that a particular advertisement might not cause a consumer to make an immediate purchase is referred to as |
a lagged effect. |
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From the consumer's perspective, the elements of an IMC strategy can be viewed as being either |
passive or interactive. |
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The U.S. government promoted public participation in the 2010 census during the televised Super Bowl game in its efforts is to raise awareness of when and how the census works. This is an example of which of the following promotional elements? |
Advertising |
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Traditionally, advertising has been _____ and _____. |
passive; offline |
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To support the other promotional efforts, firms use _____ to generate “free” media attention. |
public relations |
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According to your text, sales promotions such as free samples and point-of-purchase displays are designed to build |
short-term sales. |
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Personalized e-mail marketing is an online, passive form of persuasive communication and would be classified as an example of |
direct marketing. |
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Omaha Steaks sending e-mail coupons for items that customers have purchased previously and mailing slick pictures of gourmet steaks and meal packages to addresses that have received orders in the past is an example of |
direct marketing |
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Customers can use the Internet to share their opinions about products and services via YouTube, Facebook and Twitter. In doing so, they can help facilitate the consumer decision process through use of |
Social media |
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The _____ method determines the budget required to undertake specific tasks to accomplish communication objectives. |
objective-and-task |
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What factors are used in the rule-of-thumb methods to determine the communication budget? |
Prior sales and communication activities |
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Since her firm’s share of the market has increased from 2.5 to 3 percent, Allyson had determined she would set her share of communication expenses at 3 percent of sales, which is an example of the use of the _____ method. |
competitive parity |
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Limitations of the _____ budgeting method include not allowing firms to exploit the unique opportunities or problems they confront in a market. If all competitors use this method to set communication budgets, their market shares will stay approximately the same over time. |
competitive parity |
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Jacob determined one of the metrics he would use to gauge the level of exposure his marketing message had with his target market was the number of times the target was exposed to his message throughout the six weeks of the campaign, representing its |
frequency |
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Nathan gauged the level of exposure to his marketing campaign using the percentage of the target population exposed at least once to his advertisement, representing its |
reach |
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Which of the following formulas is accurate for calculating gross rating points (GRP)? |
Reach multiplied by frequency |
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Google’s AdWords system provides a Quality Score as a measure of _____, which indicates the usefulness of an ad message to consumers doing a Google search. |
relevance |
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_____ is (are) the number of times an ad appears in front of the user. |
Impressions |
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If a sponsored link was delivered 100 times and 10 people clicked on it, then the number of impressions is 100, the number of clicks is 10, and the click-through-rate (CTR) would be |
10 percent |
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Which of the following is not an aspect of advertising? |
It is used to sell only products. |
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Which of the following is the first step in planning and executing an advertising campaign? |
Identify the target market |
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A(n) _____ is a subsection of the firm’s overall marketing plan that explicitly analyzes the marketing and advertising situation, identifies the objectives of the advertising campaign, clarifies a specific strategy for accomplishing those objectives, and indicates how the firm can determine whether the campaign was successful. |
Advertising plan |
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It is in the _____ step of the process of developing an advertising campaign that the metrics are articulated against which advertising success or failure of the campaign is measured. |
set the advertising objectives |
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When introducing new products, Quaker Oats uses a(n) _____ strategy by offering retailers discounts on the products along with point-of-purchase displays to motivate them to highlight the product. |
push |
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When a company wants to create and build brand awareness, it would use _____ advertising. |
informative |
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Firms often use _____ advertising to convince consumers to take action such as switching brands, trying a new product, or even continuing to buy the advertised product. |
persuasive |
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_______ advertising generally occurs in the growth and early maturity stages of the product life cycle, when competition is most intense, and attempts to accelerate the market’s acceptance of the product. |
Persuasive |
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As a product in the maturity stage of its life cycle, chewing gum brands would most likely require the use of _____ advertising to prompt purchases. |
reminder |
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The “Beef, It’s What’s for Dinner” campaign to encourage beef consumption is an example of _____ advertising. |
institutional |
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The “Indoor Tanning Is Out” campaign is designed to raise awareness of the increased risk of melanoma, the deadliest form of skin cancer, and decrease usage of tanning salons. This is an example of a(n) _____ advertisement. |
public service |
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_______ is a tool used to communicate the distinct attributes of a product; it can be used as a slogan or a theme and often becomes a snapshot of the entire advertising campaign. |
A unique selling proposition |
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ExxonMobil uses a(n) _____ appeal when it explains technical aspects of its products, such as lithium ion batteries, hydrogen technology, biofuels, and CO2 capture technologies. |
informational |
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Bowflex and Jenny Craig develop advertisements featuring celebrities to address their target markets’ need for feeling good about themselves. This is an example of which of the following? |
Emotional appeal |
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As a means to reach large numbers of anonymous audience members, USA Today newspapers are considered to be which of the following types of media? |
Mass media |
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HGTV and Home and Gardens magazine fall into which of the following categories of media? |
Niche media |
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Coppertone uses a _____ advertising schedule, where it advertises heavily in the months leading up to and during the summer, with no advertising after the season ends. |
flighting |
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IKEA advertises throughout the year, but significantly increases its advertising during the back-to-school time frame, thus implementing a _____ advertising schedule. |
pulsing |
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In a print advertisement, items used to identify the sponsor of the ad, such as the company logo or USP, are referred to as |
brand elements. |
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Assessing the effectiveness of an advertising campaign while it is running by monitoring key indicators is referred to as |
tracking. |
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The _____ enforces truth in advertising laws and defines deceptive and unfair advertising practices. |
Federal Trade Commission |
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The slogans “Coolest Video Game” and “World’s Best Hamburgers” are examples of _____, which is the legal exaggeration of praise, stopping just short of deception, lavished on a product. |
puffery |
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In many cases, _____ activities support other promotional efforts by generating “free” media attention and general goodwill. |
public relations |
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When two or more firms join to reach a specific target market, it is referred to as |
cross-promoting. |
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As a type of sales promotion, _____ encourage trial and reduce consumer risk, although they may negatively impact perceptions of brand value. |
deals |
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A _____ offers an item for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testing. |
premium |
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A form of sales promotion that offers prizes based on a chance drawing of entrants’ names is referred to as a |
sweepstake. |
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The Holiday Inn Priority Club is an example of _____, which is specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time. |
a loyalty program |
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An example of _____ is when Tom Hanks is shown stranded on an island with a FedEx box in the movie Cast Away. |
product placement |
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J. Crew teaming up with several famous brands, including Belstaff and Timex, to offer exclusive products in the J. Crew stores and on its website is an example of |
cross-promoting. |
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_____ is the two-way flow of communication between a buyer or buyers and a seller that is designed to influence the buyer’s purchase decision. |
Personal selling |
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According to your text, which of the following is a reason why many people enjoy personal selling as a career? |
It features variety and diversity. |
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Personal selling adds value in each of the following ways except by |
consistently lowering prices below competitors |
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When UPS decides to add to its fleet of planes, Boeing’s sales team can address technical aspects of its new aircraft as well as assist in the economic justification for the purchase. In this way, Boeing adds value most directly by |
providing information and advice. |
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When the National Association of Realtors’ national awareness campaign emphasizes that realtors know how to more efficiently market a client’s property than an owner can by himself, it is highlighting which value of personal selling? |
Saving time and simplify buying |
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The sales philosophy and process that emphasizes a commitment to maintaining customer relationships over the long term and investing in opportunities that are mutually beneficial to all parties is known as _______ selling. |
relationship |
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Evaluating a list of prospective customers and assessing their potential to purchase a product is called |
lead qualification. |
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Salespeople who already have an established relationship with a customer will skip this step; it is not used extensively in retail settings, but it is in B2B situations. |
Generate and qualify leads |
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The annual International Consumer Electronics Show (CES) in Las Vegas is an example of a(n) _____ show, which is an event attended by buyers who choose to be exposed to products and services offered by potential suppliers in an industry. |
trade |
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_____ is a method of prospecting where salespeople telephone or go to see potential customers without appointments. |
Cold calling |
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After the salesperson has learned about the customer during the qualification stage, in the _____ step additional research is conducted and plans are made for meeting with the customer. |
preapproach |
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According to your text, which of the following may be the most important part of the entire selling process as it allows the salesperson to establish exactly where the customer is in his or her buying process? |
At the beginning of the sales presentation |
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Although reservations on the part of the buyer can arise during each stage of the selling process, they are very likely to occur during the |
sales presentation. |
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The _____ step in the selling process is often stressful for salespeople, since one of the possible outcomes is that the salesperson goes away empty-handed. |
closing the sale |
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During the follow-up stage, what service quality dimension is being addressed when customers are given adequate guarantees that their purchases will perform as expected? |
Assurance |
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The _____ offers a prime opportunity for a salesperson to solidify the customer relationship through great service quality. |
follow-up |
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The planning, direction, and control of personal selling activities, including recruiting, selecting, training, motivating, compensating, and evaluating, as they apply to the sales force is part and parcel of |
sales management. |
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Salespeople who sell a manufacturer’s products on an extended contract basis but are not employees of the manufacturer are known as |
manufacturer’s reps. |
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A salesperson whose primary responsibilities are identifying potential customers and engaging those customers in discussions to attempt to make a sale are called |
order getters. |
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A(n) _____ is a salesperson whose primary responsibility is to process routine orders, reorders, or rebuys for products. |
order taker |
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When Best Buy customers experience computer problems, the company offers its Geek Squad for door-to-door service as well as in-store assistance. The Geek Squad fulfills the role of |
sales support personnel. |
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Jack attempted to close a sale with a new customer. Unfortunately, the customer did not purchase anything from Jack; however, he learned some valuable information about this customer and is determined to continue calling on him until he finally does get a sale. Which personality trait is Jack most likely exhibiting? |
Resilience |
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A desirable personal trait of good salespeople is _____, where they care about their customers, their issues, and their problems. |
empathy |
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Managers and sales experts have identified each of the following personal traits as most important when recruiting salespeople. Which of the following is not one of those traits? |
Speaking skills |
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Which of the following is a form of salesperson compensation whereby payment is based on sales volume or profitability? |
Commission |
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Which of the following is an effective form of nonfinancial compensation provided to salespeople? |
Awards |
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To maintain trustworthy customer relationships, companies must take care that they respect the _____ comfort zone—that is, the amount of information a customer feels comfortable providing. |
information |
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Equal employment opportunity laws make it unlawful to discriminate against a person in hiring, promotion, or firing because of race, religion, nationality, sex, or |
age. |
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If an insurance company encourages its salespeople to intentionally mislead potential customers about damage from flooding due to hurricane damage, who could be susceptible to legal action for the deceptive practice? |
The insurance company and the salesperson |
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Most important in dealing with ethical and legal issues between the customer and the salesperson is for sales managers to |
lead by example. |
