Which of the following BEST describes a private brand?
A brand used exclusively for a consumer product
The brand name of a manufacturer
A brand name owned by a wholesaler or a retailer
A brand that is simply identified by its product category
Which of the following about new-product development process is NOT correct?
The best new-product ideas always come from qualified personnel in the organization’s research and development team.
In the business analysis stage, forecasted figures for demand, costs, sales, and profitability of the proposed new products are calculated.
Idea screening helps to eliminate ideas that are inconsistent with the organization’s new-product strategy.
Test marketing is performed with limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation.
Persuasive labeling is a type of package labeling that _______________________.
Lowers consumer cognitive dissonance after the purchase
Helps consumers make proper product selections
Focuses on a promotional theme or logo
Gives consumers detailed information of the product
Which is NOT a reason behind the fast growth of non-store retailing?
Today’s consumer demand for convenience
Unavailability of census data, lifestyle, and financial information of the consumers
Widespread use of the Internet
Increased business competition
As a promotional strategy, mass communication is used to ensure that the message is always detected by the desired receivers.
Beyond the 4 P’s of marketing mix, personnel and presentation are additional P’s critical to success of retailing.
Which is NOT an appropriate strategy in promoting services?
Avoid post purchase communication as it is unnecessary for services
Encourage positive word-of-mouth communication among present and prospective customers.
Use tangible cue as a concrete symbol of the service offering.
Create a strong and positive image for the organization.
Which is CORRECT?
When customers want something that is different from what management thinks they want, it is the case where perception of service quality is not affected.
In advertising campaign, it is an acceptable practice for firms to make promises beyond their actual ability to deliver in order to get initial business.
Customers evaluate service quality based on different components including reliability, responsiveness, assurance, empathy, and physical evidence.
In all cases, the gap between the service that customers receive and the service they want would lead to negative evaluation of service quality.
Relationships among marketing channel members are transactional at best as these organizations are only linked by economic ties.
Supplementary services can enhance the core service and help to differentiate the firm from its competitors because as competition increases, the core service becomes more and more like a commodity.
A marketing channel is a business structure of interdependent organizations working together to __________________.
Move products to their final consumption destination
Get the right product to the right place at the right time
Facilitate the physical movement of goods through the supply chain
ALL of the above
A company’s __________________ includes all of the companies involved in all of the upstream and downstream flows of product, services, finances, and information, from initial suppliers to the ultimate customer.
None of the above
Which is the MOST important purpose of branding?
Satisfaction with product
Which factor needs to be considered in developing the promotional mix?
Nature of the product and its life cycle
Target market characteristics
Type of buying decision
AL of the above
Marketers use public relations to do the following, EXCEPT:
To help support the company’s sales effort
To introduce the company’s new products
To educate the public about the company’s goals and objectives
To strictly communicate with the company’s customers
___________________ is a production method whereby products are not made until an order is placed by the customer; products are made according to customer specifications.
Order processing system
Inventory control system
Marketing channel members provide all of the following in the distribution process, EXCEPT:
Higher number of stores customers must shop in to complete their purchases
Help to producers who are not motivated or lack of financial resources to market directly to end users
Specialization and division of labor
Aid in overcoming discrepancies of quantity, assortment, time, and space
Logistics is the efficient and cost-effective forward and reverse flow and storage of goods, services, and related information, into, through, and out of channel member companies.
_______________________, one key business process of supply chain management, presents a unified response system by multiple chain members to customer complaints, concerns, questions, and comments.
Customer service management
Innovators make up the largest percentage of aL those who adopt the product because they are eager to try new ideas and products, almost as an obsession.
Which type of retail operation provides moderately high to high level of service, moderate to high prices, but generally broad product assortment?
A department store
A convenience store
A specialty store
Which is NOT considered non-store retailing?
________________ are also considered new products and include the existing products that have been changed to form new perception with the current or new market segment.
Additions to the existing product lines
Revisions of existing products
Marketing communication is a one-way process in which marketers send the message to be decoded by the consumers.
Effective promotion refers to communication by marketers that _____________ potential buyers of a product in order to influence an opinion or elicit a response.
All of the above
Which is NOT true about nonprofit organization marketing?
Nonprofit organizations often market complex behaviors or ideas.
The capacity for distributing service offerings is typically not an important variable in nonprofit organizations.
Many nonprofit organizations still need to be concerned about revenue.
Nonprofit organizations are often pressured to adopt undifferentiated segmentation strategies.
Despite increasing globalization of markets and competition, multinational firms should still focus on a particular market or consumers of one country in new-product
_________________ allow companies to use another manufacturer’s already-established channel.
Strategic channel alliances
In what stage of the product life cycle where promotion strategy should focus on informing consumers about the product category’s potential benefits?
When consumers spend effort to search for a particular item and are not wiLing to accept substitutes, that item is a __________________.
In international marketing of services, the marketing mix elements should be designed to take into account each country’s _____________________.
AL of the above
Which of the following in NOT correct?
A product item is a specific version of a product, designated as a distinct offering among a company’s products.
A company’s product mix refers to all the products it sells.
Product mix width refers to the number of product items in a product line.
A product line refers to a group of closely related product items of a company.
In what stage of the product life cycle where heavy consumer promotion by the manufacturer is generally required to maintain market share?
Companies generally increase the depth of their product lines for the following reasons, EXCEPT:
To avoid buyers with different preferences
To capitalize on economies of scale in production
To increase sales and profits by further segmenting the market
To even out seasonal sales patterns
Which is NOT accurate regarding characteristics of services that distinguish them from goods?
Services are perishable, meaning they cannot be stored, warehoused, or inventoried.
Because of the involved experience, evaluating the quality of services is easier than evaluating the quality of goods.
Unlike goods, services are generally sold, produced, and consumed at the same time.
Because services have greater variability of inputs and outputs, they tend to be less standardized and uniform than goods.
Which is NOT correct about supply chain management?
It should focus on pulling products into the marketplace and partnering with chain members to enhance customer value.
It should be production driven and to push products through the supply channel to the consumer.
It should communicate customer demand from the point of sale all the way back to the supplier.
It should provide physical flow of goods in a timely and cost-effective manner.
Which function is performed by intermediaries in the marketing channel?
All of the above
Standardized services lead to higher costs for the firm but in return, it can be more flexible and responsive to individual customers’ needs.
Internal marketing means treating employees as customers and developing systems and benefits that satisfy their needs.
____________________ is used when manufacturer tries to have the product available in every outlet where potential customers might want to buy it.
Which intermediaries typically do NOT take title to products in the marketing channel?
Agents and brokers
Which is generally the characteristic of a brand with strong brand equity?
High perceived quality
High brand loyalty
AL of the above
Of the following, which is the MOST complicated marketing channel for consumer products?
Retailing includes all the activities directly related to the sale of goods and services to the ultimate consumer for personal and business use.
Which factor is deemed the MOST important for manufacturers of upscale products in choosing a marketing channel?
Complexity of the product
Desire to control positioning
Delicacy of the product
Which of the following about services is NOT correct?
Services cannot be physicaLy possessed and involve a deed, a performance, or an effort.
Services will contribute to growth of many new jobs into the future.
The demand for services in the US economy is expected to decline.
Changes in US demographics provide much demand for services.
Which is NOT true about relationship marketing?
It is usually more costly to hang on to existing customers than to attracting new ones.
A more formalized relationship developed with customers aLows company to better serve them.
At the highest level of relationship marketing, the firm uses financial, social, as weL as structural bonds.
The idea of relationship marketing is to develop strong loyalty by creating satisfied customers.
Which characteristic would very likely contribute to the slow rate of acceptance and diffusion of a new product?
A product that can be tried on a limited basis
A product that is considered truly new and requires new product knowledge
A product that is simple and easy to use
A product with observable benefits
Which promotional ingredient results in slow speed in reaching large audience but allows the message to be tailored to prospective buyers?
The classification of retail establishments is strictly based on ownership and product assortment.