Wachner Exam 2

All of the people and organizations that buy, resell, and promote a product "downstream" as it makes it to the end user is referred to as the _____.

distribution channel

A company may partner with intermediaries because:

the producer needs shipping and handling capabilities.

A business that purchases products in large quantities from producers and then sells it to another entity is known as a _____.

wholesaler

Cutting middlemen out of the channel is known as:

disintermediation.

A(n) _____ is formed when two parties agree to share their profits, losses, and control with one another in an economic activity they jointly undertake.

joint venture

which of the following is the least risky global entry strategy?

exporting

A strategy utilized by the manufacturer of a good that convinces the wholesaler, distributor, or retailer to sell its products is known as a(n):

push strategy

A _____ focuses on communicating the product's benefits to the consumer so as to create demand that retailers and distributors must meet.

pull strategy

Intensive distribution is utilized for products that:

consumers purchase on the spot without much shopping around.

Distributing a product exclusively to a limited number of organizations under strict terms can help:

prevent a company's brand from deteriorating.

Sue often travels to other grocery stores in the marketplace to observe how much they are charging for the same products she stocks at her store. Sue is engaging in _____.

market intelligence

Which of the following is the most effective way that an online book retailer can utilize to recommend products its customers might like?

clickstream data

Stealing product strategy information from a competitor is known as:

industrial espionage.

The advantage of market research is that it:

can help make a good decision.

The goal that is to be accomplished by marketing research is known as the:

research objective

One of the characteristics of secondary research is that:

the data is collected for another purpose.

A focus group typically involves:

a moderator.

_____ seeks to measure or describe phenomenon so as to answer the questions who, what, where, when and how.

Descriptive research

In the case of _____ research, all of a product's marketing elements are held constant except one.

casual

The list from which the sample is drawn is known as the _____.

sampling frame

Integrated marketing communications:

provide an approach to deliver one consistent message.

The different types of marketing communications an organization uses comprise its _____.

promotional mix

Short-term incentives such as coupons, contests, games, rebates, and mail-in offers are typical examples of:

sales promotion

The number of people exposed to a promotion message is referred to as _____.

reach

Purchasing a product provides the sender with _____.

feedback

A unique selling proposition is:

a specific benefit consumers will remember

Domino's "Pizza delivered in 30 minutes or it's free" is a good example of a(n) _____.

unique selling proposition.

Humor, fear, and informative are all types of advertising _____ utilized by organizations when structuring messages.

appeals

The percent-of-sales method refers to:

a budgeting technique based on a set percentage of current or projected sales.

A(n) _____ involves promoting a product to final consumers.

pull strategy

The process of creating a positive image for a company, an offering, or a person via publicity is known as _____.

public relations

Good public relations efforts:

can help a firm create rapport with its customers.

A press releases is:

a news story written by an organization to promote a product, service, or person.

_____ is the process of countering the extreme negative effects a company gets when it receives bad publicity.

crisis communication

Companies seeking good PR may host a(n) _____ to highlight new hires, new facilities, or community service projects.

press conference

_____ involves paying a fee to have your name associated with a venue or event.

sponsorship

_____ can have a positive PR impact by strengthening the affinity people have for a company that engages in it.

Cause-related marketing

Product placement is utilized with the intent to:

generate exposure, brand awareness, and interest.

Sponsorship is utilized with the intent to:

increase brand awareness, improve corporate image, and reach target markets.

Which of the following is true of social media?

It uses technology to provide an interactive means of communication.

_____ state what a company wants to accomplish with its pricing.

Pricing objectives

A company that is trying to generate cash quickly to pay off debt would most likely utilize what type of pricing objective?

Maximizing sales

A company trying to set prices in a way that allows them to capture a large share of the sales in their industry is utilizing which type of pricing objective?

Maximizing market share

A firm that sets out to maintain its current prices and/or its competitors' prices is utilizing which type of pricing objective?

Maintaining the status quo

Price is the _____ marketing variable to change and the _____ to copy.

easiest; easiest

Maximizing sales typically:

:is a short-term objective.

Price elasticity affects:

the demand for a product.

Durable goods such as TVs and refrigerators are _____.

price elastic

The Robinson-Patman Act:

limits a seller's ability to charge different customers different prices for the same products.

_____ is an illegal practice that involves firms colluding about price.

price fixing