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87 Cards in this Set

  • Front
  • Back
The buying process is influenced by
Perceptions, Attitudes, Peer Groups, and Family...

Least influenced by Productivity
Which environmental force influences change in consumers' attitudes, customs, and lifestyles?
Sociocultural
When customers' needs vary, which approach is more appropriate?
Market segmentation
The last step in the marketing research process is
reaching a conclusion.
The elements in the marketing mix are used to
reach the target market
Which of the following is not one of the steps in implementing the marketing concept?
1.Obtaining information about existing and potential customers
2.Pinpointing needs and potential customers for further marketing activities
3. Mobilizing marketing resources to provide, promote, and distribute products
4.Obtaining New Information about the effectiveness of efforts.
When marketers use data such as sales figures, product and marketing costs, inventory levels, and activities of its sales force to make marketing decisions, they are using which type of data?
Internal
What element in the market mix provides information to consumers?
Promotion
When factors such as climate, city size, rural area, and urban area are used as indicators, the type of market segmentation.
Geographic
During the decline stage of the product life cycle, a product usually declines because of
Technological Advances
Psychological pricing strategies include
multiple-unit pricing
During which stage is the largest number of product ideas rejected?
Screening
What is a major problem with using cost-based pricing?
It is difficult to determine an effective markup percentage.
Product
Can be an idea or a thing received in exchange.
Product Line
A Group of similar products
Product mix
Includes all products that a firm sells
Penetration pricing
A strategy of setting a low price for a new product
Brand
A name, symbol, or design that identifies a seller's products.
Brand name
The names IBM, Procter & Gamble, and Nike are examples.
Brand mark
a symbol or distinctive design of a brand.
Price Lining
setting a limited number of prices for selected groups or lines of merchandise.
Odd-number pricing
Pricing using odd number that are slightly below whole-dollar amounts.
Private brand
Sears' Kenmore is an example.
Generic Products
Products labeled with only the name of the product, such as peanut butter.
Individual branding
A firm uses a different brand on each its products.
Family branding
Branding strategy used by Sony and Dell.
Packaging
The basic function is to protect the product
In which stage of the product life cycle do you find sales increasing, industry profit declining, pricing strategies becoming flexible and marketing incentives being offered?
Maturity
Which reason is not valid for rejecting a new product idea?
The product would allow the company to gain a 10 percent market share.
These statements are true about competition-based pricing?
1.The seller emphasizes low price.
2.The seller may set prices below competitors' prices
3.A firm's costs and revenues are secondary to competitors' prices.
4.This strategy is important in markets where competing products are quite similar.

Not true...This strategy charges the highest possible price in the first stage of its life cycle.
A set of attributes and benefits that has been carefully designed to satisfy its market while earning a profit for the seller is known as a
Product
These are concerns of product modification?
1. Changing one or more of a product's characteristics
2. Existing customers must be able to perceive the modifications
3. Making the product more consistent with customer's desires
4. Making the product more versatile and convenient
These service are provided to Manufacturers by Wholesalers?
1. Assuming credit risks
2. Furnishing market information
3. Reducing inventory costs
4. Providing an instant sales force
Which channel of distribution is the usual channel for perishable products?
Producer to retailer to consumer.
Public warehouses
offer their services to all individuals and firms.
A sales agent may
represent more than one firm at a time.
Which statement is not true about regional shopping centers?
Regional shopping centers attract small independent stores over national stores.
Wholesaler services to manufacturers include
gathering information.
A broker
is likely hired on a temporary basis.
Which of the following criteria for selecting a mode of transportation is least- or unimportant?
Speed
Which of the following statements is not true about catalog marketing?
A. Catalog marketing provides limited services.
B. Customers find catalog marketing efficient and convenient.
C. Catalog marketing is effective for all types of products.
D. Retailers do not have to invest in expensive store fixtures.
E. Personal selling expenses are reduced.
Which type of marketing intermediary takes title to goods?
Merchant middleman
Personal Selling
It is the most adaptable of all promotional methods.
Promotion mix
a combination of methods to reach a target market.
Cooperative advertising
An arrangement where producer and retailer share the cost of advertising.
Selective-demand advertising
Designed to sell a particular brand of product.
Comparative advertising
Usually based on information from a study
Selective-demand advertising
Designed to sell a particular brand of product.
Comparative advertising
Usually based on information from a study.
Institutional advertising
Designed to enhance a firm's image.
Creative selling
It determines customer's needs and matches products with those needs.
Advertising media
Promotes broad product categories, through various forms of communication.
Integrated Marketing Communications
Ensures the maximum informational impact on customers.
Infomercial
Program-length televised commercial message.
Trade salesperson
Duties include restocking shelves and setting up displays.
Technical salesperson
Focuses on how to use a product or how to install it.
Press Conference
Important news is announced
Buying allowance
It is an incentive to resellers to handle a new product.
The process of making potential consumers aware of products is known a
Promotion
Which factor does not influence the development of a promotion mix?
1. Target market
2. Characteristics of the product
3. Productivity
4. Promotional resources available
5. Cost of promotional methods
A sample is an example of
sales promotion.
When a firm wants to increase sales of its products and services, what would you suggest?
Select the appropriate promotional mix.
Advertising campaigns are developed to
1. increase product awareness.
2. convey product information.
3. increase sales by a stated percentage.
4. expand the market share by a given amount.
The content and form of an advertising message are influenced by the
1. product's features.
2. objectives of the campaign.
3. characteristics of the target market.
4. choice of media.
Promotional material mailed directly to individuals is known as __________ advertising.
direct-mail advertising
Selective-demand advertising
Is by far the most common type of advertising.
Television advertising
reaches national markets.
Creative selling involves perceiving buyers' needs, supplying information about a firm's products, and persuading customers to buy the product. Which type of salesperson does this job?
Order Getter
Personal selling
It is the most adaptable of all promotional methods.
Promotion mix
A combination of methods to reach a target market.
Cooperative Advertising
An arrangement where producer and retailer share the cost of advertising.
Selective-demand advertising
Designed to sell a particular brand of product
Comparative advertising
Usually based on information from a study
Institutional advertising
Designed to enhance a firm's image.
Creative selling
It determines customer's needs and matches product with those needs.
Advertising media
Promotes broad product categories, through various forms of communication
Integrated marketing communications
Ensures the maximum informational impact on customers.
Infomercial
Program-length televised commercial
Trade salesperson
Duties include restocking shelves and setting up displays.
Technical salesperson
Focuses on how to use a product or how to install it
Press conference
Important news is announced
Buying allowance
It is an incentive to resellers to handle a new product
The process of making potential consumers aware of products is known as
promotion.
Which factor does not influence the development of a promotion mix?
These influence Promotion mix
1. Target market
2. Characteristics of the product
3. Promotional resources available
4. Cost of promotional methods

**Prodctivity does not influence development of P.M.
When a firm wants to increase sales of its products and services, what would you suggest?
Select the appropriate promotional mix.
Advertising campaigns are developed to
1. increase product awareness.
2. convey product information.
3. increase sales by a stated percentage.
4. expand the market share by a given amount.
Television advertising
reaches national markets.