MKT Test 5 Flashcards

Terms Definitions
Algo falló.
Something went wrong.
Procter and gamble--Dish Dish Liquid--use TV, billboards, and radio--these are all associated with
factors include merchandise, service, clinetele but the mail element is atmosphere-the fell and impression
The accumulation of shared meanings, rituals, norms and traditions among members is knowns as ____

A company that has a market
 orientation and adheres to the marketing concept does NOT:
 The pricing policy used
 by Middleton Industries, manufacturer of Renaissance charms for bracelets
 and necklaces, is to set prices so the retail prices are as high as the
 market will tolerate. Additionally, Middleton strives to keep its costs at
 an industry low by using silver and gold overlays over charms made of
 cheap base metal. This is an example of a _____ policy
 One brand of tomato sauce
 advertises that the tomatoes it uses are processed within 24 hours of
 being picked to ensure product freshness. The fresh tomatoes it buys from
 growers are examples of:
 _____ is the amount of
 time and effort a buyer invests in the search, evaluation, and decision
 processes of consumer behavior.
 Bábolina Tetra is a
 Hungarian company that has genetically created a chicken that is
 guaranteed to produce uniform brown eggs with strong shells. It breeds and
 sells young chicks to farmers all over Europe who want to sell eggs in
 local markets. When consumers began to worry about cholesterol content and
 stopped eating as many eggs, the demand for the Tetra hen also declined.
 This would be an example of _____ demand.
 An ad for a
 prescription-only antihistamine that does not make its users sleepy like
 many other allergy medications was run in several health and fitness
 magazines. The ad said that if you were interested in learning more about
 the new product or trying it out to ask your physicians. The manufacturer
 of the drug was using a _____ promotional strategy.
 Cassandra, an accounting
 major, read an article stating that accounting graduates are receiving the
 highest starting salary offers for business majors. The article also
 stated that marketing majors start with lower salaries but surpass all
 other majors' salaries within ten years. Cassandra doesn't remember
 reading this last part of the article, just the first part. This is an
 example of:
 Marketing managers often
 use in-store promotions to stimulate sales of:
 Businesses typically
 enter into strategic alliances to:
 Intel sells the Pentium
 and Celeron chips to many different business markets, including computer
 manufacturers. Pentium and Celeron are classified as:
 A _____ is a business
 structure of interdependent organizations that reaches from the point of
 product origin to the consumer.
 A(n) _____ is an
 interactive, flexible information system that enables managers to obtain
 and manipulate information as they are making decisions.
 Marketing channels make
 distribution simpler by reducing the number of transactions required to
 get products from manufacturers to consumers. This is called:
 The function of _____ is
 to address \"what if\" questions. It entails planning, collecting,
 and analyzing data relevant to marketing decision making, and the
 communication of the results of this analysis to management.
 _____ coordinates and
 integrates all of the activities performed by channel members into a
 seamless process, from the source to the point of consumption, resulting
 in enhanced customer and economic value.
 General Mills, Inc., is
 the owner of the Betty Crocker brand. The Betty Crocker catalog sells
 cooking equipment and tableware and was initially targeted to women 45 and
 older. In 2001, General Mills decided to revamp the catalog to reach women
 between the ages of 25 and 45. What demographic variables did General
 Mills use to segment its market?
 Products such as
 diamonds, iron ore, peaches, and beef that become part of finished
 products are examples of:
 Within the business
 market, handle bars purchased by bicycle manufacturers are examples of:
 Baths From the Past is a
 small company that sells reproduction sinks, bathtubs, toilets, and
 faucets for people who are trying to make their bathroom more stylish. The
 company's management is currently conducting a formal study of its current
 strengths and weaknesses by looking at the company's profit and sales
 histories and searching for opportunities and threats by studying consumer
 trends. Baths From the Past is conducting a(n):
 _____ is the process of
 dividing a market into meaningful groups that are relatively similar and
 Which of the following
 is NOT an example of a product’s tangible feature?
 The _____ is the set of
 all persons in an organization who become involved in the purchasing
 Petra McCoy has
 developed a product for cleaning grout called Grout-Chee. Everyone who has
 tried the product really appreciates how quickly it works, but McCoy is
 having trouble getting retail stores to carry the product. She has decided
 to send retailers free samples and use other trade promotions to encourage
 stores to carry her product. McCoy is using a(n) _____ promotional
 When demand for a
 product is _____, an increase or decrease in the price of a product will
 not significantly affect demand for the product.
 Allyson Brown is trying
 to develop a promotional mix for her firm's new product, a sophisticated
 modular sunporch designed for use all year. She reasons that because her
 product is complex and carries high financial risks for consumers, the mix
 should concentrate on personal selling.
 If DuPont runs
 advertisements encouraging people to buy shoes that contain Lycra (a
 DuPont product), this would be an attempt to influence derived demand.
 Variable costs vary with
 changes in the level of output, whereas fixed costs do not vary as output
 Retailing can be defined
 as all activities directly related to the sale of goods and services to
 the ultimate consumer for personal and nonbusiness use.
 The buying decision for
 business customers is generally easier than for consumers, so the process
 of buying is less formal.
 As products move through
 the marketing channel, channel members provide specialization and division
 of labor, overcome discrepancies, and provide contact efficiency.
 Allyson has a small
 business that creates personalized gift baskets and is now in the process
 of identifying groups of buyers that have relatively similar product
 needs. She is engaged in the process of market segmentation.
 Strategic alliances can
 include more than two partners.
 promotions are seldom used as a sales promotion tool because most purchase
 decisions are made before consumers ever enter a store.
 For a product to be
 called a business product, it must be used to manufacture other products,
 become part of another product, facilitate the normal operations of a
 firm, or be acquired for resale with no substantial change in form.
 The Internet has made
 buying and selling in the business market a process that is only efficient
 for the largest producer to pursue.
 Understanding of the
 laws established by the federal government, state governments, and
 regulatory agency

actionable data
helps select alternatives
directed at a specific problem
usually from primary sources
Products that are bought often, routinely, and without much thought.
A formal statement of the organization’s scope, purpose, markets and products.
whether the relationship is positive or negative
goal-setting theory
the proposition that specific goals increase performance and that difficult goals, when accepted, result in higher performance than do easy goals
Germans are typically not a good market for credit cards because they have a strong dislike for debt. Their dislike for debt is so engrained that they use the same word for debt as for guilt. In other countries, the number of credit cards a person has is a sign of their success. A study of what meanings nations assign to credit cards would be called
case studies
business to business marketing problem to help find solutions to your problem
Brand Familiarity
How well customers recognize and accept a company's brand.
direct channel
channel that sells dicrectly to consumer
arranging for a market offering to occupy a clear, distinctive place relative to competing products in the winds of target consumers
public relations
the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance
dyadic exchanges
exchanges of resources between two individuals that influence these individuals behaviors or beliefs
general conceptual model
identifies the independent and dependent variables and shows their basic relationships to one another
Shopping without visiting the store and growing faster than instore shopping. there is a consumer demand for convenience
non store retailing
Takes the initiative to unite a group of retailers
Category killer
Giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees
degree to which product is capable of being tried of a limited basis
ex. AOL, free samples
Exclusive Distribution
Selling through only one middleman in a particular geographic area.
Partner Relationship Management
Working closely with partners in another company to jointly bring greater value to customers
newspaper disadvantages
1. limited geo selectivity 2. limited color 3. low pass along rate 4. may be expensive
any idea or product perceived by the potential adopter to be new.
dis of focus groups
do not constitute preresentative samples and must be used in generalized findings, difficult to read results, cost is high
Face Validity
Degree to which a measurement seems to measure what it is supposed to measure.
a form of a problem in that managers must determine whether and how to take advantage of them
Specialty Store
A retail store that caries a narrow product line with a deep assortment within that line
Combination Export Manager
A blend of manufacturers' agent and selling agent--handling the entire export function for several producers of similar but noncompeting lines.
Point of Purchase Coupons
-What you purchase determines what coupons you get (kroger)
-Higher rate of redemption
product offering
the mix of products offered to the consumer by the retailer
short term memory
is where thinking occurs. stimulus is interpreted and contemplated using concepts stored in long term memory
The direct costs associated with producing and selling a product are the __________________, and the total variable cost varies directly with the level of production and sales volume
Variable Cost per unit
Licensing pros and cons
upside-low risk and capital free entry into foreign countrydownside-forgoes control of its product and reduces potential profits gained from it....also creating competition
Family Brand
A brand name that is used for several products.
two types of dyadic exchanges
word of mouth and service encounters
Tenemos que aumentar nuestra clientela.
We have to increase our customer base.
Original Equipment Manufacturer (OEM)
A company that purchases a product or service to be included in its own final product
the regression model, intercept, and slope must
always be tested for statistical significance
Foreign Corrupt Practices Act (1977)
makes it a crime for US corporations to bribe an official of a foreign gov't party to obtain retain business in a foreign country
Quiero que elabores un plan estratégico.
I want you to develop a strategic plan.
what is the advantage of TV and advertising
ability to reach wide and diverse audiences
El arte de vender es verdaderamente un arte
The art of selling is truly an art
La gente no sabe quiénes somos ni qué hacemos
People don´t know who we are nor what we do
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