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30 terms

Marketing ch 15/16

STUDY
PLAY
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