Marketing ch 15/16

30 terms by mmartino123

Create a new folder

Advertisement Upgrade to remove ads

Which of the following is not one of the broad factors manufatueres must consider when establishing a strategy for getting their products into the hands of the ultimate customer

All

Knowing what customers expect is essential. retailers need to know which manufacturers their customers perfer while manufactureres need to know

Where their target customers expect to find their products

There are three types os supply chain distribution intensity

intensive, exclusive, and selective

Full line discount category specialist and speciality stores are all ___ retailers

General merchandise

Internet buyers are sometimes surprised to see online retailers using information about their past purchases to customize promotions targeted to them the next time they visit the retailer's website. The retailer is using the information to

increase their share of wallet from their best customers

In integrated marketing communications, encoding means

converting the sender's ideas into a message, which could be verbal, visual or both.

.__________ refers to the process by which the receiver interprets the sender's message.

Decoding

In the AIDA model:

awareness leads to interest, which hopefully leads to desire and then, action

If marketing communications are effective, they will:

result in purchases by some consumers receiving the communications.

.One of the difficulties in measuring the effectiveness of IMC efforts is the __________, where consumers do not act immediately after receiving a marketing communication.

lagged effect

Brian knows his firm's pricing strategy needs to be consistent with the company's overall objectives. As marketing manager, Brian will base his pricing strategy on whether the company's objective is to:

any of these.

Bernard's firm has set corporate direction to become one of the leaders in each of its significant market segments. It was Bernard's job to examine the pricing to determine how to maximize market share, even at the expense of profits in the short run. What kind of company objective would guide Bernard's effort?

Sales-oriented

A __________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels, so that the price level that produces the highest return can be chosen.

maximizing profits

Ryan gave the manager of his convenience store a set of binoculars so she could see the gasoline prices charged by the other convenience store at that intersection. Ryan told the manager to always match the gasoline prices of the other store. Ryan is using a __________ pricing strategy.

status quo

Customers purchase prestige products or services for the status of owning the products, not just for the functionality. These products may not follow a typical demand curve if:

raising the price makes more people want to own one.

If a 1 percent decrease in price results in more than a 1 percent increase in quantity demand, demand is:

price elastic.

Assume the demand for electricity, a necessity with few substitutes, is -0.2. If the electric company raised its rates by 10 percent, we would expect:

a 2 percent decrease in quantity demanded.

Marketers spend millions of dollars annually trying to create or reinforce brand loyalty. Brand loyalty changes the demand curve for the firm's products by:

reducing the price elasticity of demand

Internet comparison shopping sites like Shopping.com and Pricegrabber.com allow consumers to compare prices of substitute products much more easily than is possible without the Internet. These sites have:

increased the cross-price elasticity for substitute products.

At the break-even point:

profits are zero.

Without new products, a firm can

only market to current customers or similar customers.

Which of the following is NOT one of the benefits to a firm of new product development?

reduced costs of production.

The __________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.

early majority

Bob and George both live in the U.S. Bob recently asked for George's cell phone number, but George said he didn't have one. George would probably be considered a(n) __________ in the diffusion of innovation process.

laggard

Between concept testing and market testing, a firm should engage in which stage of the product development process?

product development

Biotechnology companies often conduct internal R&D efforts but do not bring new products to market. Instead, new biotechnology products come to market through:

licensing technology.

During concept testing for a new product, a marketer will likely ask:

all of these.

Barbara is using a test model of her firm's new inline skates to see if they work according to the design specifications. Barbara is involved in:

alpha testing.

The __________ step in the product development process is critical because it requires tremendous resources and extensive coordination of all aspects of the marketing mix.

product launch

During __________ stage of the product life cycle there are few but an increasing number of competitors.

Growth

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

NEW! Voice Recording

Create Set