EXAM 2 & 3 McMillan COB 300D

Which of the following is an example of a retailer using a category killer style of retail format?
-Costco
-Walmart
-Target
-Home Depot
-Kroger

-Home Depot

If Whirlpool is a manufacturing company that manufactures' the following products ... dishwashers, washers, dryers, refrigerators and other appliances using their own Whirlpool name on some of the products and on other products, they use the name of the retailer Best Buy, then Whirlpool would be engaged in what type of branding strategy?
-Mixed Branding
-Co- Branding
-Individual branding
-Family Branding
-Multi-product branding

-Mixed Branding

A Goodyear tire placed on a Ford F-150 pickup truck would be classified as which type of support/production good?
-Supplies
-Component part
-Installations
-Raw material
-Production goods

-Component part

Pepsi sells it's products via 3 distinct channels, vending, food service and retail, what distribution approach is
Pepsi using?
-Horizontal channel integration
-Direct distribution
-Beverage channel
-Pepsi is the channel captain
-Dual distribution

-Direct distribution

Items for which the consumer compares several alternatives on several criteria such as price, quality, or style and may move from store to store are referred to as
-prestige products
-convenience products
-shopping products
-selective products
-specialty products

-shopping products

It is relatively easy to target and reach the Japanese people with a promotional message due to the fact that the majority of them live in a concentrated area on the Japanese islands defines which of the following market qualitative factors?
-Evoked set
-Actionable
-Homogeneous
-Accessible
-Substantial

-Accessible

The marketing channel of manufacturer to wholesaler to retailer to consumer, would most likely be used by manufacturers of which type of product?
-Chewing gum
-Office furniture
-Industrial roofing supplies
-MRI machines
-Automobiles

-Chewing gum

What type of shopping center has the fewest anchors?
-Regional
-Power
-Community
-Outdoor lifestyle
-Neighborhood

-Neighborhood

In terms of brand loyalty, consumers are aware of a brand but will readily accept substitutes for which type of product?
-convenience products
-unsought products
-shopping products
-Component products
-specialty products

-convenience products

The intangibility aspect of a service means that
-unused capacity cannot be stockpiled or inventoried for later use.
-services are not produced and consumed simultaneously
-services are not labor-intensive
-consumers may have a problem evaluating the quality of service offerings
-restaurants are fully intangible

-consumers may have a problem evaluating the quality of service offerings

In terms of promotion, which of the following types of goods stress product differentiation from competitors?
-Convenience products
-Specialty products
-Shopping product
-Raw materials
-Unsought products

-Shopping Products

What type of retailer is Best Buy or Toy's R Us considered to be? (retail store type)
-Wholesale store
-Discount Store
-Department Store
-Supersized store
-Category Killer

-Category Killer

Distribution is most limited with which of the following types of consumer products?
-Shopping product
-Tangible products
-Specialty products
-Unsought products
-Convenience products

-Specialty products

Under what rare circumstances or under what type of power would it be most likely for a wholesaler to have the power in their channel?
-Brand loyalty power
-Brand recognition power
-Product packaging power
-Financial power
-Expertise power

• Product Packaging Power

Product line refers to
-a product and all complementary counterparts of that product that are used to create the greatest customer value.
-the total number of units produced and sold by a single manufacturer
-all products and product substitutions within an industry specified by a unique SIC code.
-a product and all its predecessors, and future models of that product, created from the same basic prototype
-a group of products 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

-a group of products 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

'VMS' or Vertical Marketing System refers most accurately to what topic in Marketing?
-Target markets
-Channels
-Portfolio approach
-Retailing
-Marketing segmentation

-Channels

What is the desired outcome of horizontal integration?
-Lower overall costs due to greater channel control
-An increase in market share
-Increased warehousing and transportation capacity
-Closer access to vital and timely customer information
-Ensuring access to vital and hard-to-obtain raw materials

-An increase in market share

Of the following examples, which approach best represents MIXED branding?
-Conagra manufacturers its own brand of Peter Pan branded peanut butter
-P&G manufacturers both Tide and Ivory Snow brands of laundry detergent.
-Costco sells its own private brand of Kirkland batteries
-General Electric manufacturers both its own brand of GE dishwasher and another dishwasher branded with the KENMORE name.
-Del Monte manufacturers both the Del Monte brand of green beans and the Del Monte brand of Peas

-General Electric manufacturers both its own brand of GE dishwasher and another dishwasher branded with the KENMORE name.

In retailing, the largest sized shopping center with the largest trade area from the list below would typically be named as what type of center?
-Community
-Costco
-Neighborhood
-Regional
-Power

-Regional

The stage of the new product process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as
-idea generation
-Prototyping
-business analysis
-marketing analysis
-commercialization

-business analysis

Test marketing involves offering a product for sale
-on a limited basis in a defined area
-in as broad a geographic region as possible
-to a one-dimensional target market
-only on certain days of the week and hours of the day
-to random people in the downtown area

-on a limited basis in a defined area

Lack of profit in the introductory stage of the product life cycle is very often the result of
-insufficient allocation of resources to the marketing mix
-poor selection of distribution channels.
-lack of consumer interest in the product
-large investment costs in product development
-ineffective execution of the marketing program

-large investment costs in product development

A company may choose a skimming strategy in the introduction stage of their new product in order to help recover costs of development and/or to
-move the product into the maturity stage more gradually
-encourage competition from other manufacturers
-gain the largest unit sales possible
-Capitalize on the price insensitivity of early buyers
-intensify the flow of the product to the market

-Capitalize on the price insensitivity of early buyers

Which of the following statements regarding the maturity stage of the product life cycle is most accurate?
-Often this stage is entered because of environmental or technological factors
-During this stage companies attempt to pare down or eliminate distribution channels.
-Total industry profits exceed total industry sales
-Sales increase at a decreasing rate as fewer new buyers enter the market.
-Industry profits peak because production and distribution costs are declining.

-Sales increase at a decreasing rate as fewer new buyers enter the market.

What is the main objective of promotion when a product is in the growth stage?
-Education
-Awareness
-Differentiation
-Full market saturation
-Maintain market share

-Differentiation

Generally, the average length of time it takes for a product category to move from the introduction stage of its product life cycle to the decline stage is
-5-10 years
-18 months
-unpredictable
-30 years
-20 years

-unpredictable

When a manufacturer acquires a company that provides one of their many raw material suppliers in a buyout or takeover, it is typically called
-Vertical Marketing
-Horizontal integration
-Forward vertical integration
-Backward vertical integration
-Hostile takeover

-Backward vertical integration

Which of the following will typically take 'title' to the products they distribute?
-Merchant wholesaler
-Virtual Corporation
-Drop Shipper
-Manufacturers agent
-Broker

-Merchant wholesaler

There are five stages in the purchase decision process. The third stage is
-problem recognition
-information search
-speak with a sales rep
-alternative evaluation
-purchase decision

-alternative evaluation

When Tommy goes to the grocery store and he already 'knows' in his mind which brands of gum he would buy then Tommy is most likely accessing his
which are brand choices already established in his
brain without the need for additional information.
-Psychological profile
-Evoked set
-Behavior profile
-Reference group
-Situation

-Evoked set

Brand equity refers to
-increasing the content contained within the brand's package without changing its size or increasing its price
-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.
-adding customer value to the product brand through additional features or higher-quality materials, or reducing its price.
-the added value a brand name gives to a product beyond the functional benefits provided.

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

The terms Primary, Secondary and Tertiary are associated with which topic in retailing?
-Discount stores
-Scrambled marketing
-Trade area
-Department stores
-Wheel of retailing theory

-Trade area

A branding strategy in which a company uses one name for all its products in a product class is referred to as
-multi-branding
-generic branding
-multiproduct branding
-Single branding
-co-branding

-Single branding

Which form of inter-modal transport would be implemented and the most appropriate when given the following information: Walmart in the USA has placed an order for Halloween costumes with their suppliers in Vietnam. This order was placed in early April for in store USA sales to begin during mid-September. Select from the responses below in the correct order moving left to right meaning the first transport mode used would be the first mode shown to the left.
-None of the above
-Truck - Boat - Air
-Rail - Truck - Air
-Truck - Boat - Rail - Truck
-Rail - Truck - Rail - Truck

-Truck - Boat - Rail - Truck

Every product manufactured by the Dole Company carries the Dole brand name. The Dole Company uses
-co-branding
-single branding
-multi-branding
-agent licensing
-family branding

-family branding

Which shopping center has the largest trade area designation?
-Power
-Community
-Neighborhood
-Regional
-Category killer

-Regional

Referring to the videos we watched in class on integration, which type of integration was occurring when
Ikea bought into and then owned directly some forest land in Romania?
-Non-horizontal integration
-Forward vertical integration
-VMS system
-Horizontal integration
-Backward vertical integration

-Backward vertical integration

The company of "General Mills" and their Betty Crocker brand of Original Supreme brownie mix provided with the "Hershey's company chocolate" is branded using which strategy?
-Coop branding
-Co-branding
-Mixed branding
-Multiproduct branding
-Generic branding

-Co-branding

Multi-branding refers to
-a branding strategy in which a company uses one name for multiple products
-a branding strategy that uses different brand names for the same product across multiple countries
-a branding strategy in which manufacturers produce products but sell them under the brand name of a wholesaler or retailer.
-a contractual agreement whereby a company allows someone else to use its brand name and usually requires that the product be made to its specifications
-a branding strategy that involves giving each product a distinct name when each brand is intended for a different market segment.

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

Concept tests are defined as
-testing the product prototype in a full commercial release nationwide
-testing to see if the product will produce adequate revenue to offset costs of production
-testing the product prototype is a limited test market release to one city
-done during idea screening by
testing multiple ideas looking for the best product to produce
-testing the idea behind the proposed product

-testing the idea behind the proposed product

The brochure for Spa Sydell has photographs of people enjoying the various spa amenities. By seeing the pictures of what is available at the spa, a customer has a better idea of what she is buying. Spa Sydell uses a brochure to help customers deal with ______ the that is associated with all services.
-inventory
-inconsistency
-incongruity
-intangibility
-inseparability

-intangibility

Betty Smith operates a wedding preparation service that will aid brides-to-be in planning their weddings by providing needed equipment, supplies, and services. To maintain a quality image and a standardized offering Betty provides extensive training for each of her employees. What unique aspect of services is Betty trying to address?
-Inconsistency
-Inventory
-Impressionability
-Intangibility
-Inseparability

-Inconsistency

In retailing, if a retailer like Kroger loses sales of grocery items to Amazon and as a result, they decide to start selling hunting equipment in their stores to offset the loss of grocery sales, this is considered an example of
-Multiple product retailing
-Wheel of Retailing
-Competitive Merchandising
-Scrambled merchandising
-Discounting

-Scrambled merchandising

Which of the following shopping centers are typically anchored by category killers?
-Power
-Regional
-Community
-Super Regional
-Neighborhood

-Power

Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million and unit variable costs of $5 per pair. Ace would like to earn a profit of $2 million; how many pairs must they sell at a price of $15?
-100,000 kits
-1,400,000 kits
-200,000 kits
-600.000 kits
-800,000 kits

-800,000 kits

Which branding strategy can also be called a family branding strategy?
-Mixed brand
-Generic brand
-Multiproduct
-Multibrand
-Co brand

-Multiproduct

Which type of retailer uses a discount style retail format?
-Costco
-Lowes
-Kroger
-Best buy
-Target

-Target

What type of shopping center would have retailers like Kroger and TJ Maxe serving as it's anchor stores have the second smallest trade area?
-Power
-Super Regional
-Neighborhood
-Community
-Regional

-Community

Product and target market characteristics usually determine the type of coverage a product receives. For which of the following products is selective distribution most appropriate?
-Laundry detergent
-Jaguar automobiles
-A dress shirt
-Yogurt
-Gasoline

-Dress Shirt

When a company stops manufacturing a line of shoes in order to start up the manufacturing of a new line of shoes but will continue to sell all remaining shoes in the old line until they are gone is engaging in what type of product deletion?
-Limited release
-Run out
-Product switching
-Elimination of manufacturing facilities
-Phase out

-Run out