BUSI 330 Final

BUSI 330 Final Answers

  1. In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?
  2. Business products refer to
  3. IDEO is a company that
  4. The type of business products known as support products includes installations, industrial services, accessory equipment, and __________.
  5. A product that disrupts consumers’ normal routines but does not require totally new learning is a
  6. Among business products, which of the following would MOST LIKELY be considered supplies?
  7. Marketers pay slotting fees to grocers in payment for space—or slots—on their retail shelves. Such slotting fees significantly increase the cost of which stage of the new‑product process?
  8. Concept tests are part of which stage in the new‑product process?
  9. Products that are purchased by the ultimate consumer are referred to as __________.
  10. In terms of promotion, which of the following type of consumer product stresses status and brand uniqueness?
  11. In the seven Ps of services marketing, the term “process” involves not only “what” gets created but also
  12. Consider the PLC photos above. Which stage of the product life cycle (PLC) is the Apple iPhone smartphone?
  13. Figure 10‑5 above shows the sequential process of building brand equity. The third step is to elicit the proper consumer responses to a brand’s identity and meaning. This step consists of two dimensions, “B” and “C,” which stand for __________ and __________.
  14. Pez was originally sold in Europe as an adult __________.
  15. One type of television show is a category called TV reality shows. According to the product life cycle framework, what is(are) the marketing objective(s) of the producers for these reality shows when they were in the introduction stage of their product life cycles?
  16. All of the following are market modification strategies EXCEPT:
  17. Imagine that Eveready has developed solar rechargeable batteries that cost only slightly more to produce than the rechargeable batteries currently available. These solar batteries can be recharged by sunlight up to 5 times, after which they must be discarded. Unfortunately, the production process cannot be patented, so competitors could enter the market within a year. Which of the following would be the LEAST sound marketing program decision?
  18. A brand name that cannot be spoken is referred to as a __________.
  19. Mixed branding refers to a branding strategy in which a firm __________.
  20. Twenty years ago, the Mississippi Gulf Coast was a nice place to vacation with a white sandy beach, golfing opportunities, resort hotels, and good seafood restaurants. With the addition of casinos, the Gulf Coast improved its odds of being a tourist destination for more travelers. This is an example of a __________ strategy.
  21. Predatory pricing is
  22. Three different objectives relate to a firm’s profit, which have different implications for pricing strategy. The three profit‑oriented objectives include managing for long‑run profits, maximizing current profit objectives, and __________.
  23. Each month, the owner of a carwash pays $2,500 in rent, $500 in utilities, $750 interest on the business loan, an insurance premium of $200, and $250 on advertising on local bus routes. A full‑service carwash is priced at $10.50. Unit variable costs for the carwash are $7.50. At what level of revenue will the carwash break even?
  24. Setting a high price so that quality‑ or status‑conscious consumers will be attracted to the product and buy it is referred to as
  25. Discounts refer to reductions from the __________ that a seller gives a buyer as a reward for some activity of the buyer that is favorable to the seller.
  26. Larry’s Lawn Care allows customers to use a credit card for purchases. Larry pays 4 percent of the sale to the credit card company. To promote more business, Larry decides to offer a lower price to customers paying cash—that price being 3 percent less than the standard list price. Larry is giving his customers a
  27. A custom tailor wishes to use target profit pricing to establish a price for a custom‑designed business suit. Assume variable cost is $200 per suit, fixed cost is $ 44,000, and the target profit is $50,000 based on a volume of 50 suits. What price should be charged for a typical custom suit?
  28. Unit volume as a pricing objective refers to
  29. Price fixing refers to
  30. Three different objectives relate to a firm’s profit, which is often measured in terms of return on investment. One objective, known as _________, is when a company gives up immediate profit in exchange for achieving a higher market share in the hopes of penetrating competitive markets.
  31. An important feature of customer‑driven supply chain management is its application of __________ that allows companies to share and operate systems for order processing, transportation scheduling, and inventory and facility management.
  32. Mail order selling, catalog sales, telemarketing, and televised home shopping are all examples of
  33. The “risk” in a transactional function refers to
  34. Based on the information presented in the UMD12: Channel Sales and Profit Marketing Dashboard above, which channel of distribution should the furniture manufacturer consider dropping? –
  35. Which of the following statements regarding supply chain customer service is most accurate?
  36. Establishments primarily engaged in selling grain and small farm products to retail feed stores would be classified as
  37. Logistics is most closely related to which element of the marketing mix?
  38. A commonly used indirect channel moves product from producer to retailer to consumer. This channel is used when
  39. A supply chain refers to
  40. Before consumers see a movie, it is assigned a rating such as G or PG based on its language and content. This rating system is most closely related to which facilitating function activity performed by marketing intermediaries?
  41. Retailing’s economic impact is represented by the __________.
  42. Large shopping areas often contain two or three __________ stores, which are well‑known national or regional stores such as Sears, Saks Fifth Avenue, and Bloomingdale’s.
  43. The marketing metrics related to a retailer’s products or merchandise include all of the following EXCEPT:
  44. Wholesalers who take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise are referred to as __________.
  45. The 5.4 million vending machines currently operating in the United States generate more than __________ in annual sales.
  46. Which of the following firms has made the wisest wholesaler choice for its product?
  47. The __________ provided by retailers create value for consumers.
  48. When developing marketing strategies, marketing managers use the elements of the marketing mix, which includes product, price, place, and promotion. In a similar fashion, when developing retailing strategies, marketers use what is called the retailing mix, which includes
  49. The Mall of America is an example of which type of setting for a store location?
  50. Walmart recently introduced “Pick Up Today” service that
  51. Wasted coverage can be reduced by which of method of promotion?
  52. The process of having the sender transform an idea into a set of symbols during the communication process is referred to as __________.
  53. The marketing professor wanted to do everything possible to ensure that her students understood her lectures. Accordingly, she used examples of marketing activities that most students were familiar with. For example, the professor discussed the marketing exchanges between students and grocers, college bookstores, convenience stores, and clothiers. The examples used by the professor were her attempt to __________ her message to encourage better understanding on the part of her students.
  54. Promotion objectives should possess three important qualities. They should be designed for a well‑defined target audience, be measurable, and
  55. Advertising refers to
  56. During the planning phase of an IMC program, a firm will identify the target audience, specify the promotion objectives, set the budget, select the right promotional tools, __________, and schedule the promotion.
  57. Melissa saw an ad promoting Vermont as a tourist destination and a great place to live. The ad contained a postage‑paid reply card that could be used to request more information. In terms of the communication process, the mailing in of the postcard with a request for further information is an example of __________.
  58. The outcome of a direct marketing offer designed to motivate people to visit a business is referred to as __________.
  59. Which of the following in an inherent weakness of personal selling?
  60. Figure 14‑1 above depicts the communication process, which consists of ten key elements (“A” through “J”). The position labeled “G” is referred to as __________. –
  61. One advantage of using billboards as an advertising medium is
  62. Much of Google’s success is based on the ten guidelines of its corporate philosophy. Guideline 6 states, “You can make money without __________.”
  63. The World Wide Fund for Nature ad shown above is an example of which type of appeal? –
  64. The three primary types of product advertisement are __________.
  65. One of the advantages associated with radio as an advertising medium is that it
  66. When preparing to go shopping after the Christmas holidays, Christy actively scans the ads in the local newspaper for coupons and contests. While in the store, Christy also looks for free samples of new products and products she hasn’t purchased previously. The coupons, contests, and free samples are all examples of __________.
  67. Which of the following statements about comparative advertising is most accurate?
  68. A(n) __________ reimburses a retailer for extra in‑store support or special featuring of a brand.
  69. One disadvantage of using magazines as an advertising medium is
  70. The decision on media selection is related to the target audience, the type of product, the nature of the message, campaign objectives, available budget, and __________.
  71. Cost per thousand (CPM) is a measure in which
  72. An example of a smart system is (are)
  73. If you wanted to generate brand buzz for an upcoming product using Twitter, what is the best way to implement Twitter?
  74. Computer‑based networks that trigger actions by sensing changes in the real or digital world are known as
  75. Aside from an individual Facebook Page for a brand, what is the other mode of advertising on Facebook?
  76. Which of the following responses does the textbook recommend a brand manager take during a social media attack on a brand?
  77. Blogs and wikis differ in that a blog is a diary that shows a __________, while a wiki shows the end result as a __________.
  78. Within the context of social media, an “evangelist” is an online user who
  79. YouTube is
  80. As a performance measure, share of voice is
  81. In the __________ stage of the personal selling process, the first impression is critical.
  82. The sales process at Xerox typically follows the six stages of the personal selling process. During the third stage, a Xerox sales representative approaches the prospect and suggests __________.
  83. FedEx uses sales personnel, carrier management specialists, and engineering and administrative executives who continually find ways to improve the technology of shipping goods across town and around the world. This type of sales approach is called __________.
  84. The most basic of the three sales management functions is
  85. A salesclerk at L.L. Bean uses a __________ when he asks a customer if they also need a pair of hiking socks with the purchase of her mountain boots.
  86. Marilyn called the Butterball toll‑free hotline to learn how to prepare her Thanksgiving turkey and dressing. This telephone number is an example of __________.
  87. According to Lindsey Smith of GE Healthcare, all of the following are necessary skills to be successful in serving her customers EXCEPT:
  88. When using an account management policy grid, an account would receive a high level of sales calls if the account opportunity level assessment is
  89. The PRIMARY way in which relationship selling creates customer value is by
  90. Procter & Gamble uses people from marketing, sales, advertising, computer systems, and supply chain personnel to work with its major retailers, such as Walmart, to identify ways to develop, promote, and deliver products. This type of sales approach is called __________.
  91. Seven Cycles uses __________ to create customer value, build relationships, and produce customer experiences in novel ways.
  92. Office Depot has leveraged its store, website, and catalog channels with impressive results. The promotion of all three information and delivery channels indicates that Office Depot would like its customers to think of all of its channels as Office Depot. Office Depot is likely following a(n) __________ strategy.
  93. The greatest marketspace opportunity for Seven Cycles lies in its potential for creating __________.
  94. Electronic shopping agents that comb websites to compare prices and product or service features are referred to as __________.
  95. There are three approaches to viral marketing. Marketers can: (1) __________; (2) make the website content so compelling that viewers want to share it with others; and (3) offer incentives for referrals.
  96. A visitor to proflowers.com can select and buy beautiful cut flower arrangements to be sent anywhere in the U.S. This is an example of a __________ website.
  97. Collaborative filtering refers to
  98. The key difference between the traditional marketplace and the new marketspace is that the latter is a(n) __________ exchange environment.
  99. Nike is a recognized innovator in the use of __________ for creating interactivity, individuality, and customer relationships. Its NikeiD product configurator invites customers to create one‑of‑a‑kind shoes, messenger bags, and backpacks by simply answering a few questions and viewing the finished product from numerous angles.
  100. The growing practice of customizing not only a product but also personalizing the marketing and overall shopping and buying interaction for each customer is referred to as __________.
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