MKT 309 8-12,15

Marketing research refers to

 a. the science of using observable human behavior in order to identify and solve marketing problems.

b. the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

c. the use of subjective data such as interviews and observation to complement empirical data obtained through the use of information technology.

d. the use of information technology to find objective solutions to a marketing problem.

b. the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

Considering the five-step marketing research approach leading to marketing actions, the feedback loop

a. is useful only to help a researcher better define the problem next time.

b. consists of lessons learned that can improve each of the steps.

c. is used to develop findings.

d. is a form of primary research.

b. consists of lessons learned that can improve each of the steps.

Facts and figures that have already been recorded before the project at hand are referred to as

a. empirical data.

b. observational data.

c. primary data.

d. secondary data.

d. secondary data.

Which of the following statements concerning marketing research is most accurate?

a. Among those people who participate in market research studies, there is an almost perfect correlation between a respondent's stated intentions and his/her actual buying behavior.

b. People are just as able to give accurate information about products they have only heard about as those they have actually used.

c. When collecting marketing research, people may be reluctant to tell you what you want to know.

d. The primary purpose of marketing research is to collect data for historical purposes.

c. When collecting marketing research, people may be reluctant to tell you what you want to know.

A decision refers to a(n)

a. conscious choice from among two or more alternatives.

b. subconscious selection of the alternative most consistent with one's personal beliefs.

c. premeditated selection resulting in a personal action.

d. conscious choice among a set of alternatives that creates the least amount of risk.

a. conscious choice from among two or more alternatives.

Implementing recommendations occurs during which step of the five-step marketing research approach?

a. Develop the research plan

b. Develop findings.

c. Collect relevant information.

d. Take marketing actions.

d. Take marketing actions.

________ is a vague term generally used to describe large amounts of data collected from a variety of sources and analyzed with an increasingly sophisticated set of technologies.

a. Data visualization

b. Data tabulation

c. Data mining

d. Big data

d. Big data

The challenge facing today’s marketing researchers and data scientists is not data collection or even storage but how to

a. match buying queries to relevant outputs

b. avoid the use of data warehouses.

c. efficiently transform the huge amount of data into useful information.

d. effectively leverage results without excessive data generation.

c. efficiently transform the huge amount of data into useful information.

The total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts is referred to as the

a. sales forecast.

b. marketing intuition.

c. market potential.

d. prognostication.

a. sales forecast.

Data obtained by manipulating factors under tightly controlled conditions to test cause and effect is an example of

a. virtual modeling.

b. nonprobability sampling.

c. questionnaire data.

d. an experiment.

d. an experiment.

The foundation of all research using questionnaires is developing ________________ that get clear, unambiguous answers from respondents

a. synergistic techniques

b. precise questions

c. effective research protocols

d. online surveys

b. precise questions

A potential difficulty with experiments such as test markets is that outside factors, such as the actions of competitors, can distort the results by affecting __________, such as sales.

a. probability variables

b. dependent variables

c. marketing drivers

d. causality variables

b. dependent variables

All of the following are sources of primary data  *except* which?

a. observational data

b. panels

c. experiments

d. government publications

d. government publications

Trend extrapolation involves

a. averaging the total sales or market share for the previous five years and multiplying that number by the expected GDP growth rate for the next year (say 1.5 percent) to arrive at the next year's forecast.

b. selecting a given percentage and using that number as a yearly predictive base regardless of changes in sales, revenue, or market share.

c. extending a pattern observed in past data into the future.

d. selecting specific points on a graph of sales or market share, multiplying by the cost of living index, and allowing for a variation of plus or minus 3 percent.

c. extending a pattern observed in past data into the future.

A survey by the Economic Research Service of the U.S. Department of Agriculture, government statistics from the Department of Commerce, and stock market information from   *The Wall Street Journal* would all be examples of

a. internal primary data.

b. internal secondary data.

c. external primary data.

d. external secondary data.

d. external secondary data.

Set during the marketing research process, __________ are specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.

a. research objectives

b. hypothetical scenarios

c. measures of success

d. research constraints

a. research objectives

After defining the problem, the next step in the five-step marketing research approach is to

a. evaluate the results.

b. list the variables.

c. develop the research plan.

d. conduct the experiment.

c. develop the research plan.

After defining the problem and developing the research plan, the next step in the five-step marketing research approach is to

a. plan the research budget.

b. take marketing actions.

c. collect relevant information.

d. identify the constraints on the process.

c. collect relevant information.

A collection of databases, or __________, is where a firm's marketing data are stored.

a. data repository

b. data warehouse

c. data vault

d. data depot

b. data warehouse

A new field of marketing research that focuses on the presentation of analysis results is known as

a. data analytics.

b. data visualization.

c. artificial intelligence.

d. business intelligence.

b. data visualization.

Market segmentation refers to

a. sorting prospective buyers into groups that are willing to pay more than the cost of production for a good or service.

b. disaggregating prospective buyers from groups into segments of one (individuals) and then creating specific products that will satisfy this person's unique needs.

c. aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.

d. the philosophy that to do a truly excellent job of marketing, a company should concentrate on only one customer segment at a time.

c. aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.

A relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as a(n)

a. market segment.

b. customer base.

c. ultimate customer.

d. target market.

a. market segment.

Product differentiation refers to

a. the unique combination of product benefits received by targeted buyers.

b. a marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products.

c. a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs.

d. the legal requirement that requires a specified degree of distinction between products to ensure an organization's intellectual property rights.

b. a marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products.

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

a. mass customization.

b. economies of scale marketing.

c. product differentiation.

d. family branding.

a. mass customization.

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

a. segmentation.

b. aggregation.

c. organizational synergy

d. valuation.

c. organizational synergy

When a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets, it is referred to as

a. cannibilization.

b. amortization.

c. product pilfering.

d. product appropriation.

a. cannibilization.

Segmentation based on where prospective customers live or work is referred to as

a. district segmentation.

b. trade area segmentation.

c. geographic segmentation.

d. NAICS code segmentation.

c. geographic segmentation.

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (birth era, occupation) of prospective customers are used in which segmentation base?

a. usage

b. behavioral

c. demographic

d. personality

c. demographic

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as

a. socioeconomic segmentation.

b. affective segmentation.

c. psychographic segmentation.

d. behavioral segmentation.

c. psychographic segmentation.

Segmentation based on what product features are important to different customers is a form of

a. demographic segmentation.

b. behavioral segmentation.

c. socioeconomic segmentation.

d. psychographic segmentation.

b. behavioral segmentation.

The market segmentation strategy known as frequency marketing focuses on

a. usage rate.

b. consumption preferences.

c. turnover.

d. trial.

a. usage rate.

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as

a. competitive positioning.

b. relative positioning. 

c. product positioning.

d. product repositioning.

c. product positioning.

A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a

a. product differentiation chart.

b. market-product grid.

c. growth-share matrix.

d. perceptual map.

d. perceptual map.

A product refers to

a. a tangible good received in exchange for a person's time and effort.

b. a good that has in some way been altered, combined, or improved and sold to organizational buyers.

c. a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.

d. a thought that leads to an action such as a concept for a new invention.

c. a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.

A nondurable good is defined as

a. an item that lasts at least one year without becoming obsolete.

b. an item that usually lasts over an extended number of uses.

c. a product purchased only for the use of ultimate consumers.

d. an item consumed in one or a few uses.

d. an item consumed in one or a few uses.

Consumer products are

a. products purchased by the ultimate consumer.

b. products an industrial buyer will make an effort to seek out and buy.

c. products that assist directly or indirectly in providing products for resale.

d. products used in the production of other items.

a. products purchased by the ultimate consumer.

Business products are

 

a. products purchased by the ultimate consumer.

b. ancillary services necessary for the operation of a business.

c. products organizations buy that assist in providing other products for resale.

d. supplies necessary for the day-to-day operations of a business.

c. products organizations buy that assist in providing other products for resale.

Convenience products are

a. items for which consumers compare several alternatives on criteria such as price, quality, or style.

b. items that consumers will make special efforts to seek out and buy.

c. low-cost items for which there are numerous substitutes and generic equivalents.

d. products consumers purchase frequently and with a minimum of shopping effort

d. products consumers purchase frequently and with a minimum of shopping effort

Items for which the consumer compares several alternatives on several criteria such as price, quality, or style are referred to as

a. shopping products.

b. specialty products.

c. prestige products.

d. convenience products.

a. shopping products.

Which type of consumer product is often very expensive, purchased infrequently, and takes an extensive amount of time to make the purchase decision?

a. specialty product

b. unsought product

c. convenience product

d. shopping product

a. specialty product

Unsought products are

a. any products associated with impulse buys at the supermarket checkout counter.

b. products that were once very popular but that have become obsolete because they are in the decline stage of their product life cycle.

c. items within a company's product line that do not perform as well as others in the line.

d. products that the consumer does not know about or knows about but does not initially want.

d. products that the consumer does not know about or knows about but does not initially want.

A product class is

a. the NAICS designation of an individual product or brand.

b. a variation of a product within a product mix.

c. the industry a set of offerings belongs to.

d. the designation of an individual product based upon its form.

c. the industry a set of offerings belongs to.

A product item refers to

a. the entire product category or industry.

b. a specific product that has a unique brand, size, or price.

c. a group of SKUs that are closely related.

d. the variations within a product class.

b. a specific product that has a unique brand, size, or price.

________ is the unique identification number that defines an item for ordering or inventory purposes.

a. An order quantity code

b. A QR code

c. A unique stock mark

d. A stock keeping unit

d. A stock keeping unit

A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range is referred to as a

a. product class.

b. product line.

c. product mix.

d. product category.

b. product line.

All of the different product lines offered by an organization are collectively referred to as a

a. marketing mix.

b. product class.

c. product SKUs.

d. product mix.

d. product mix.

A product that is new in some way but requires no new behaviors to be learned by consumers is a

a. concurrent innovation.

b. discontinuous innovation.

c. continuous innovation.

d. dynamically continuous innovation.

c. continuous innovation.

A product that disrupts consumers' normal routine but does not require totally new learning is a

a. discontinuous innovation.

b. dynamically continuous innovation.

c. disruptive innovation.

d. continuous innovation.

b. dynamically continuous innovation

A product that requires the learning of entirely new consumption patterns among consumers is referred to as a(n)

a. discontinuous innovation.

b. continuous innovation.

c. evolutionary innovation.

d. dynamically continuous innovation.

a. discontinuous innovation.

Ideally, before a new product or service is developed, a firm should have a precise ________, which is a statement defining the target market, specifying customers' needs, and defining what the product or service will be and do to satisfy consumers.

a. modus operandi

b. protocol

c. contract

d. formula

b. protocol

The new-product development process is

a. the informal process of brainstorming to generate new-product concepts at a marketing staff meeting.

b. the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing.

c. a formalized protocol for new-product development that begins at the corporate level and ends at the functional level.

d. the seven stages an organization goes through to identify business opportunities and convert them into salable products or services.

d. the seven stages an organization goes through to identify business opportunities and convert them into salable products or services.

Developing a pool of concepts to serve as candidates for new products is the ________ stage of the new-product development process.

a. product development

b. idea generation

c. screening and evaluation

d. open innovation

b. idea generation

Screening and evaluation is the stage of the new-product development process

a. at which new-product concepts that have been found viable are converted into actual prototypes.

b. that internally and externally assesses new-product ideas to eliminate those that warrant no further effort.

c. at which prospective customers are exposed to new-product prototypes for the first time.

d. that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.

b. that internally and externally assesses new-product ideas to eliminate those that warrant no further effort.

A concept test is an

a. internal evaluation among members of the entire cross-functional new-product development team that consists of preliminary testing of a new-product idea rather than the actual product.

b. in-depth questionnaire filled out both by internal marketing personnel and external customers to ensure that the final product meets all the needs expressed in the original product plan.

c. external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product.

d. internal evaluation that consists of preliminary testing of a new-product idea using a mock-up or prototype of the new item.

c. external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product.

Business analysis is the stage of the new-product development process

a. that internally and externally evaluates new-product ideas to eliminate those warranting no further effort.

b. during which the target market segments that show potential are selected and those that do not are eliminated.

c. that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.

d. during which the target markets are selected and resources are allocated to reach them.

c. that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.

Product life cycle is defined as

a. a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline.

b. a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline.

c. the average life span of a product.

d. a concept that describes the stages a new product goes through from product concept to commercialization.

b. a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline.

The desire for a product class rather than for a specific brand is called ________ demand.

a. secondary

b. selective

c. derived

d. primary

d. primary

As more competitors launch their own products and the product progresses along its life cycle, company attention is focused on creating ________ demand, or the preference for a specific brand.

a. selective

b. secondary

c. derived

d. primary

a. selective

During the introduction stage of the product life cycle, a(n) ________ pricing strategy may be used. This pricing strategy charges a high initial price to recoup the costs of product development.

a. cost-plus

b. target ROI

c. penetration

d. skimming

d. skimming

During the introduction stage of the product life cycle, the strategy that discourages competitive entry by charging a low price for a new product is referred to as ________ pricing.

a. below-market

b. penetration

c. skimming

d. target ROI

b. penetration

A ________ product is one for which significant customer education is required and there is an extended introductory period.

a. high-learning

b. fad

c. substitute

d. low-learning

a. high-learning

Products that experience rapid sales on introduction and then an equally rapid decline are called ________ products.

a. low-learning

b. high-learning

c. fad

d. fashion

c. fad

When a product spreads through the population, it is called the

a. extension of innovation

b. dispersal of innovation

c. diffusion of innovation

d. proliferation of innovation

c. diffusion of innovation

Product modification refers to a marketing strategy that

a. tries to find new customers and convince users who abandoned it to purchase again

b. alters a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and to increase sales.

c. manages a product's life cycle to increase its use among existing customers, create new use situations, or find new customers.

d. combines the lowest producing market segment into others to achieve marketing economies of scale.

b. alters a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and to increase sales.

Market modification refers to a marketing strategy that

a. alters a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and to increase sales.

b. manages a product's life cycle by finding new customers, increasing a product's use among existing customers, or creating new use situations.

c. combines the two lowest producing market segments to achieve marketing economies of scale.

d. tries to find new customers and convince users who abandoned the product to purchase again.

b. manages a product's life cycle by finding new customers, increasing a product's use among existing customers, or creating new use situations.

Changing the place a product occupies in a consumer's mind relative to competitive products is referred to as

a. product repositioning.

b. market modification.

c. product modification.

d. product positioning.

a. product repositioning.

Reducing the package content without changing package size while maintaining or increasing the package price is referred to as

a. downsizing.

b. upsizing.

c. outsourcing.

d. shrinkage.

a. downsizing.

Branding refers to

a. an organization's use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors.

b. the establishment of a commercial, legal name under which a company does business.

c. the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them.

d. the value added to the product from the additional features given to a product beyond its functional attributes.

a. an organization's use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors.

A trademark refers to

a. the identification that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.

b. the commercial, legal name under which a company does business.

c. any word, device (design, sound, shape or color), or combination of these used to distinguish a seller's products or services.

d. the part of a brand that is a symbol or design and cannot be vocalized.

a. the identification that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.

A set of human characteristics associated with a brand name is referred to as

a. product personification.

b. a brand personality.

c. brand personification.

d. a brand psychographic.

b. a brand personality.

Brand equity refers to

a. the resources invested to create a name, phrase, design, symbol, or combination of these to identify a firm's products and distinguish them from those of its competitors.

b. increasing the content contained within the brand's package without changing its size or increasing its price.

c. the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market.

d. the added value a brand name gives to a product beyond the functional benefits provided.

d. the added value a brand name gives to a product beyond the functional benefits provided.

Brand licensing refers to

a, a branding strategy in which manufacturers produce products but sell them under the brand name of a wholesaler or retailer.

b. the registration fee paid by a manufacturer to states, provinces, or countries in order to sell its products there.

c. a contractual agreement whereby a company allows another firm to use its brand name or trademark with its products or services for a royalty or fee.

d. a branding strategy in which the producer dictates the brand name to retailers for the products sold to their respective markets.

c. a contractual agreement whereby a company allows another firm to use its brand name or trademark with its products or services for a royalty or fee.

Multiproduct branding refers to a branding strategy

a. that involves giving each product a distinct name when each brand is intended for a different market segment.

b. in which a company uses one name for all its products in a product class

c. that uses different brand names for the same product across multiple countries.

d. in which a company uses a contractual agreement to allow someone else to use its brand name for a fee.

b. in which a company uses one name for all its products in a product class

When a company uses a product line extension, it

a. applies the current brand name to enter a completely different product class.

b. markets a new product with the current brand name to enter a new market segment in its product class.

c. speeds up the movement of a product through its product life cycle.

d. markets a product under a new brand name so that consumers will view it as an entirely new product line.

b. markets a new product with the current brand name to enter a new market segment in its product class.

Combining a corporate or family brand with a new brand to distinguish a part of its product line from others is referred to as

a. subbranding.

b. multibranding.

c. family branding.

d. private branding.

a. subbranding.

Brand extension is the practice of

a. manufacturing a new product with the same brand name for a new market segment in the same product class.

b. licensing another firm to manufacture modified versions of the original product.

c. manufacturing a product under a new name that consumers will view as an entirely new product line.

d. applying the current brand name to enter a completely different product class.

d. applying the current brand name to enter a completely different product class.

The practice of pairing two or more strong brands to facilitate the marketing of a joint product or service for their mutual benefit is referred to as

a. brand bundling.

b. mixed branding.

c. co-branding.

d. multibranding.

c. co-branding.

A company uses ________ when it manufactures products but sells them under the brand name of a wholesaler or retailer.

a. co-branding

b. generic branding

c. manufacturer branding

d. private branding

d. private branding

Inconsistency of services refers to the fact that

a. the quality of service provided by a firm is often inconsistent with its image.

b. the performance of one employee may vary from the performance of another employee even though the same firm employs both.

c. there is no regulation of service industries in terms of basic standards of quality.

d. training and standardization of service delivery procedures cannot be accomplished.

b. the performance of one employee may vary from the performance of another employee even though the same firm employs both.

Intangibility of services refers to the fact that

a. training and standardization of  service delivery procedures cannot be accomplished

b. the performance of one employee may vary from the performance of another employee even though the same firm employs both.

c. the quality of service provided by a firm is often inconsistent with its image.

d. they cannot be held, touched, or seen before the purchase decision.

d. they cannot be held, touched, or seen before the purchase decision.

A situation that occurs when a service provider is available but there is no demand is referred to as

a. static demand.

b. idle production capacity.

c. capacity management.

d. off-peak pricing.

b. idle production capacity.

Inseparability of services refers to the fact that, in most cases

a. the quality of service provided is difficult for the consumer to assess.

b. they cannoot be held, seen, or touched prior to the purchase decision.

c. training and standardization of service delivery procedures cannot be accomplished.

d. the consumer cannot separate the deliverer of the service from the service itself.

d. the consumer cannot separate the deliverer of the service from the service itself.

Services provided by specialized professionals, such as medical diagnoses and legal services, have certain properties or characteristics that the consumer may find impossible to evaluate even after their purchase or consumption. What are these properties called?

a. credence properties

b. relationship properties

c. capacity properties

d. contract properties

a. credence properties

A flowchart of the points of interaction between consumer and service provider is referred to as

a. a customer contact audit.

b. a service continuum.

c. a service audit.

d. gap analysis.

a. a customer contact audit.

One tool available when trying to even out the variations in demand for services is

a. credit incentives.

b. product lay-away.

c. container sales

d. off-peak pricing.

d. off-peak pricing.

The notion that a service organization must focus on its employees before successful programs can be directed at customers is referred to as

a. internal analysis.

b. external marketing.

c. employee marketing.

d. internal marketing.

d. internal marketing.

Integrating the service component of the marketing mix with efforts to influence consumer demand is referred to as

a. product management.

b. customer management

c. capacity management.

d. customer management.

c. capacity management.

Individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users are referred to as a

a. retailer.

b. parallel distribution.

c. marketing channel.

d. distributor.

c. marketing channel.

When marketing channel members are engaged in assorting, storing, sorting, and transporting products and services, they are performing ________ functions.

a. transactional.

b. facilitating.

c. logistical

d. implementation.

c. logistical

In terms of distribution, when marketing channel members are engaged in financing, grading, and marketing information and research, they are performing the ________ function.

a. logistical

b. facilitating

c. transactional

d. implementing

b. facilitating

Having a product or service where consumers want it is ________ utility.

a. place

b. form

c. possession

d. time

a. place

A direct channel exists when

a. the producer and consumer perform numerous channel functions.

b. an agent or broker brings ultimate consumers to manufacturers.

c. producers and end users deal with each other on a one-on-one basis.

d. a firm reaches different buyers by employing two or more different types of channels for the same basic product.

c. producers and end users deal with each other on a one-on-one basis.

A channel that includes intermediaries that are between the producer and consumers and perform numerous channel functions is referred to as a(n)

a. indirect channel.

b. full-service channel.

c. multilevel channel.

d. direct channel.

a. indirect channel.

The blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online is referred to as

a. indirect marketing.

b. multichannel marketing.

c. intensive marketing.

d. direct marketing.

b. multichannel marketing.

A practice whereby one firm's marketing channel is used to sell another firm's products is referred to as

a. a strategic channel alliance.

b. a  multichannel venture.

c. dual distribution.

d. cooperative distribution.

a. a strategic channel alliance.

Vertical marketing systems are

a. channel partnerships that share responsibility for ordering and physically distributing each other's products.

b. professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact.

c. professionally managed geographically dispersed marketing channels that are controlled through strategic channel alliances.

d. professionally managed geographically dispersed marketing channels designed to achieve channel economies and maximize marketing impact.

b. professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact.

When a producer owns an intermediary at the next level down in the marketing channel, it is referred to as

a. horizontal integration.

b. forward integration.

c. parallel integration.

d. backward integration.

b. forward integration.

When a retailer owns a manufacturing operation, it is referred to as

a. backward integration.

b. lateral integration.

c. a joint venture.

d. forward integration.

b. backward integration.

A contractual arrangement between a parent company and an individual or firm that allows the latter to operate a certain type of business under an established name and according to specific rules is referred to as

a. franchising

b. a wholesaler sponsored voluntary chain.

c. a retailer-sponsored cooperative.

d. a corporate vertical marketing system.

a. franchising