A marketer is considering introducing several

29 Jun A marketer is considering introducing several

Question
Section I: Please clearly indicate your response as “T” if the statement is correct or “F” if it is incorrect. Each statement is valued at 2 points.

1. A marketer is considering introducing several kiosks through which the firm’s products may T or F be viewed and sold. This represents the “Place” variable within the marketing mix.

2. A key element of the marketing concept is establishing short-term, profitable customer relationships. T or F

3. The Product Life Cycle (PLC) reflects the stages that an individual product category experiences T or F

over time.

4. “Branding” includes the use of trademarks, images and brand names to identify a product or company.T or F

5. The marketing mix variables are non-controllable factors within an organization’s marketing strategy. T or F

6. A service is not a “Product” because services do not include any physical good. T or F

7. The demand for business products derives from the demand for final consumer products. T or F

8. The Internet is making it possible for firms to reach customers that were impossible to reach before. T or F

9. A wholesaler might help a producer by reducing the producer’s need to carry large inventory stocks. T or F

10. Water carriage offers marketers the least amount of transportation capacity. T or F

11. Appliances, furniture and consumer electronics products would typically use exclusive distribution. T or F

12. Commercialization and launch of a new or modified product refer to the same marketing action. T or F

13. As discussed in class, “Chaps” and “Old Navy” are examples of a “fighter” brands. T or F

14. Diffusion is our personal acceptance of a new product or new idea. T or F

15. For exchange to occur, there must always be a financial transaction or agreement. T or F

Section II: Please select the best answer from among the alternatives provided for each question or statement. Each item is valued at two (2) points.

1. A consumer is shopping for a new pair of jeans. He/she has had good experiences with GAP jeans in the past and is looking for GAP now. The consumer will buy GAP if he/she finds some that are at least as good-looking as competitive jeans. This is a good example of:

A. Brand rejection

B. Brand non-recognition

C. Brand preference

D. Brand denial

2. Industry sales are highest in which of the following product life cycle stages?

A.Market maturity

B. Sales decline

C. Market introduction

D. Market growth

3. In “traditional channel systems,” the channel members:

A. Always take title of the goods.

B. Usually have a common ownership.

C. Are now working more closely together (partnerships) to improve customer satisfaction and service quality.

D. Are always controlled by penalties and threats.

4. If a marketing manager wanted to ship small quantities (less than 1000 pounds) of high-value, electronic products over short distances at an economical cost, which of the following modes should be used?

A. Pipelines

B. Railroads

C. Trucking companies

D. Inland waterways

5. Which of the following channel intermediaries always take ownership (title) to the goods they carry?

A. Service wholesalers

B. Merchant wholesalers or distributors

C. Selling agents

D. Manufacturer’s Representatives

6. This stage of the Product Life Cycle (PLC) shows the highest industry profits/unit sold for a specific product category:

A. Market Introduction

B. Market Growth

C. Market Maturity

D. Market Decline

E. None of the above

7. The process used to “break down” a large group of potential, heterogeneous customers into smaller groups having

similar characteristics is called ________________:

A. Positioning

b) Competitive bidding

c) Segmentation

D. Convergence

E. Reduction

8. When a manufacturer (e.g., Rolex) chooses to market its products through one retailer within a

particular geographic area, this strategy is described as:

A. Normal distribution

B. Exclusive distribution

C. Selective distribution

D. Intensive distribution

E. Minimalization

9. The use of U.S. Census data to develop information about a prospective target market is:

A. Primary market research

B. Diffusion

C. Positioning

D. Secondary market research

10. ____________________ is the consumer decision process typically associated with consumption of products

and services that are costly and represent a significant risk to the purchaser:

A. Routine rebuy

B. Limited problem-solving

C. Dissonance

D. Extensive problem-solving

11. The coordination of all internal/external activities associated with the movement of goods is referred to

as___________________:

A. Diffusion c) Adoption

B. Supply Chain Management d) Time utility

12 ________________ is typically used to describe all the activities associated with making products available

for the final consumer?

A. Wholesaling c) Product Life Cycle (PLC)

B. Physical Distribution d) Retailing

13 When a manufacturer uses no intermediaries to reach the final customer, we describe this strategy as

_______________?

A. Advertising d) Monopolistic marketing

B. Direct Selling/Channel e) Intensive distribution

E. Exclusive distribution

14: When a manufacturer uses only a few intermediarieswithin aspecific geographic region, it is using a

___________ strategy?

A. Selective distribution c) Exclusive distribution

B. Intensive distribution d) Diversification

15: These goods are likely to be marketed using an “intensive” distribution strategy:

A. Convenience goods (ie., snacks) c) Appliances and other durables

B. Luxury goods d) Automobiles

16: Which of the following organizations has achieved a competitive advantage due to their strong distribution and

inventory management systems:

A. US Postal Service d) Yellow Freight Lines

B. Pella Windows e) “Just Born” Candies, Inc.

E. Wal-Mart

17: The establishment of mutually, beneficial relationships focused upon meeting customer needs and earning a

profit is called ___________________?

A. Product development c) Differentiation

B. Competitive advantage d) Marketing Concept or Orientation

18: These variables represent the only factors under the control of a marketer:

A. Economy c) Competitors

B. Marketing Mix d) Government

19: Consumers’ willingness to accept a new idea or try a new product or service is called _____________?

a) Innovation c) Weakness

b) Experimentation d) Adoption

None of the above

20: The __________________stage of the Product Life Cycle (PLC) is typically characterized by little sales growth

and intense competition among producers for revenues. Competitive advertising and pricing incentives are used

to gain market share.

a) Market Decline c) Market Maturity

b) Market Introduction d) Market Growth

Section III: Please select the best answer to complete each statement. Each item is valued at two (2) points.

Market development Competitive advantage Market penetration

Scrambled merchandising Retailing Intensive distribution

Convenience products Railroad Specialization/Division of Labor

Trucking Advertising Exclusive distribution

Specialty products Generic Brand Secondary data

Selective distribution Primary data Wholesaling

____________________________ reflects that intermediaries in the distribution channel become “expert” at performing certain distribution functions.

_____________________ describes all the activities associated with the sale of products and services to final consumers.

When a manufacturer sells only through one intermediary in a particular geographic area, ________________ ______________________ is being used.

__________________________ is a type of data developed specifically for a user’s purpose.

A producer has a marketing mix that is perceived to be better than competitor offerings. This is referred to as _____________________________.

A marketing strategy that is focused upon new markets and customers for existing products is called ___________________________________.

_______________________________ are branded products which customers request by name.

_________________________________ is selling a product through all responsible and suitable intermediaries who will stock and/or sell the product.

If a producer wished to ship a large volume of salt to a land-locked (no water access) receiver at the lowest cost, the ___________________ mode of transportation would likely be used.

____________________________ are products a consumer needs but isn’t willing to spend much time and effort shopping for.

Section IV. Answer only two (2) of the following four (4) questions completely. Each question is worth five (5) points. Answer only two questions. No extra credit will be given for additional answers.

1. List and describe the three functions performed by intermediaries in the distribution channel. Give an example of

each function. Or,

2. Identify and describe the three types of distribution intensity strategies available to marketers. Give an example of a

product that would be associated with each strategy. Or,

3. Name and describe the five factors that influence the adoption process for a new product or idea. Or,

4. Identify the five (5) characteristics that make a service product different from a physical good product. Please explain each characteristic.