2017 marketing district exam

Organic word-of-mouth promotion occurs

naturally. Because customers are satisfied with the business and its products, they enthusiastically tell others about their satisfaction in the course of normal conversation

Word-of-mouth promotion occurs

when customers tell others about their satisfaction with the business

A compiled list

is one that a company purchases from a seller who originally used the information for other purpose. often consists of several lists from several sources

Mail-response lists

are those that businesses develop by purchasing other businesses' house lists (lists of contact info)(

A rebate

is a return of part of the price a customer pays for a good or service and usually is offered by the product's manufacturer

The main reason that a sportswear retailer decided to use direct-mail promotion was because it would reach the store's

target market

Direct mail

is a promotional medium that comes to consumers' homes or e-mail addresses in the form of letters, catalogs, postcards, folders, and messages.

The advantage of direct mail in apparel promotion is

that it can be sent only to those customers who have been identified as potential buyers of the clothing and accessories

Which of the following best describes the relationship of promotion and marketing

Interrelated

Product bundling is an effective method to sell goods and services because it

Creates a sense of value for the customer

Customers are less likely to comparison shop for less expensive goods when

the items are bundled.

Product bundling is the practice of

selling multiple, related goods/services together as a one-price package

Which of the following is an idea-generation technique that uses programmed thinking

Attribute listing

Programmed thinking

is a process that involves generating ideas in logical, analytical, and organized ways

Attribute listing

is an idea-generation technique that involves listing the characteristics or attributes of something and then finding ways to improve these attributes

Synectics

o join different and often diverse items in ways that explore or solve a. problem

Which of the following marketing strategies is appropriate for the decline stage of the product life cycle:

selling the product online

What production activity evaluates products to make sure that the products the business produces meet certain quality standards?

follow-up

Form utility

is usefulness created by altering or changing the form, or shape, of a good to make it more useful to the consumer.

Standardization

is the process of setting criteria for products so that they will be uniform

Which of the following is a form of qualitative research:

focus group

Qualitative research involves

collecting data that include opinions and personal interpretations

A focus group is a method that researchers use to

collect qualitative data

Sampling

is the process of choosing a representative group of consumers to survey.

Exploratory research

involves collecting information to help the business define its issue, situation, or concern, and decide how to proceed with its research

Causal or conclusive research

focuses on cause and effect and tests “what if” theories

An experiment

is a research method that tests “cause and effect” by test marketing new products or comparing test groups with control groups.

A marketer is having difficulty finding data about a competitor because the competitor's financial records have not been made public. Which disadvantage of secondary research does this situation illustrate?

It can be incomplete.

Which of the following is the most important reason for creating a written plan for a marketing-research project:

To keep the project on track.

Which of the following is a product strategy that marketers devise using available data:

What level of customer service to provide.

A commission or bonus is an example of a form of

Compensation

Benefits

are advantages employees receive in addition to their monetary compensation, such as health insurance, retirement accounts, paid vacation and sick time, etc

What form of currency is issued by the federal government?

Paper money

Corporate bonds are bonds issued by

corporations to fund operating expenses.

Businesses should view negotiation as a way to

Build strong relationships

Upward communication

is from employees to supervisors or managers

Lateral communication

is between people on the same level.

A producer can minimize channel conflict among its distributors and retailers by

Offering different products through each channel.