Business 40 Ch. 13, 14, 15

A __________ is a marketing intermediary that sells to ultimate consumers.retailer
Those organizations that assist in the movement of goods and services from producer to industrial and consumer users are known as:marketing intermediaries
Sharp Focus Cameras is facing intense competitive pressure. Top marketing managers are looking for ways to cut costs. They are considering a plan to cut distribution costs by eliminating marketing intermediaries from the channel of distribution. If Sharp Focus carries out this plan, it is likely to find that:it will be unable to perform the functions as efficiently as they were performed by the marketing intermediaries.
One way a store selling high-def televisions might add ________ utility is to provide convenient delivery and set up to customers.possession
When marketing intermediaries perform the steps necessary to transfer ownership from one party to another, they are providing _________ utility.possession
Marketing intermediaries can provide _________ utility by offering customers affordable credit, free delivery, and product guarantees.possession
Stores that remain open 24 hours a day, seven days a week are providing _________ utility to their customers.time
____________ wholesalers are independently owned and take title to the goods they handle.merchant
Limited-function wholesalers that mainly serve small businesses by selling them a limited assortment of goods are known as:cash-and-carry wholesalers.
Which of the following activities would a drop shipper be most likely to perform?solicit orders from a retailer and arrange for the producer to make the deliveries
Discount stores, supermarkets, and department stores are all common types of:retail stores
A(n) ______________ distribution strategy uses only one retail outlet in a given geographic area.exclusive
Producers of snack foods (such as candy bars or potato chips) are most likely to use a(n) _____________ distribution strategy for their products.intensive
Vending machines are most often used to sell:convenience goods
In a(n) ____________ distribution system all of the organizations in the channel of distribution are owned by one firm.corporate
Franchise systems are one type of __________ distribution system.contractual
Millie Woods owns and operates a World of Food grocery store. Although her store is independently owned and operated, she has signed an agreement with over seventy stores in the Midwest to use a common name, participate in chain promotions, and cooperate with other stores in the chain. Millie’s store is part of a(n):wholesaler-sponsored chain.
A _________ is a marketing intermediary that sells products to other organizations.wholesaler
Which of the following statements about marketing intermediaries is true?marketing intermediaries survive because they can perform marketing functions faster and more cheaply than producers and consumers.
The primary difference between retailers and wholesalers is that:retailers sell to final consumers, while wholesalers sell to other organizations, such as retailers or manufacturers.
_________ utility adds value to goods by having them available where people want them.Place
The types of utility commonly provided by marketing intermediaries include:time, place, possession, information, and service.
E-Gadgets is a chain of electronics stores that specializes in devices and gadgets incorporating cutting-edge technologies. The company has more than 170 stores located in large cities throughout the Southeast and Midwest. E-Gadgets has chosen the locations of its stores so that most customers living in upper middle class and wealthy neighborhoods can get to an E-Gadgets store in less than 15 minutes. E-Gadgets is providing its customers with:place utility.
Hottaire Heating and Cooling offers customers who buy air conditioners and furnaces free delivery and low installation charges. The company also offers a free follow-up inspection of the new equipment one month after it is installed. These services are ways that Hottaire provides its customers with __________ utility.possession
___________ are limited-function wholesalers who furnish shelves full of merchandise to retailers who sell these items on consignment.rack jobbers
___________ are merchant wholesalers who perform all of the distribution functions.full-service wholesalers
Which of the following statements provides the most accurate distinction between an agent and a broker? Agents:develop a long-term relationship with the people they represent, while brokers are usually hired on a temporary basis.
A __________ offers a huge selection of one type of product (such as books, toys, or sporting goods) to dominate that category of goods.category killer store
___________ is the sale of goods and services by telephone.Telemarketing
Companies who send salespeople to customers’ homes or places of work are making use of __________ selling.direct
Sports Coasters sells good quality athletic wear by sending its customers a catalog nine times a year. The company has no retail stores, but offers a toll free order number that operates 24 hours a day, 365 days a year. Sports Coasters sells using a technique known as:telemarketing
In a(n) ___________, independently owned and managed stores sign an agreement to use the same name, participate in chain promotions, and cooperate as a unified system.wholesaler-sponsored chain
McDonald’s, KFC, Baskin-Robbins, and AAMCO all make use of the __________ form of contractual distribution system.franchise
Which of the following activities is most likely to be performed by someone responsible for supply chain management?finding ways to handle the return of goods and recycled materials
Which of the following would be included in evaluating the total product offer of benefits that consumers consider when buying a good or service?store atmosphere
The Coca Cola Company produces Diet Coke, Diet Coke with Splenda, and Coke Zero along with a number of other flavors. These products are part of Coke’s:product line.
The purpose of __________ is to create real or perceived product differences.product differentiation
For small businesses, product differentiation:can be an important strategy to gain market share.
Soprano Manufacturing acquired several pieces of expensive heavy machinery it intends to use in its operations. As an industrial good, this heavy machinery represents:an installation.
From the buyer’s perspective, which of the following is a benefit of a product with a well known brand name?quality assurance
Certain brand names, such as Kleenex and Xerox, fear they could become _________, because they are so commonly identified with a specific product category that consumers use these names to refer to any product in that category regardless of the manufacturer.generic names
The use of the Folgers’s ________ allows customers to easily identify this product from other coffee products.brand name
Which of the following is considered a stage of the new-product development process?commercialization
___________ is the stage of new product development that involves promoting a product to distributors, and developing advertising and sales campaigns in order to generate and maintain consumer interest.commercialization
The product life cycle model helps marketers realize that:different stages in the life cycle call for different marketing strategies.
Which stage of the product life cycle is characterized by rapidly rising sales, very high profit levels, and a growing number of competitors?growth
During the ________ stage of the product life cycle sales reach a peak, profits are declining, and the number of competitors starts to decrease.maturity
The rent a firm pays each month for office space is an example of a(n):fixed cost.
_________ uses price points to establish prices that help create the impression that the product is less expensive than it is.psychological pricing
Which of the following strategies establishes a price based on the actions of rival firms?competition-based pricing
Which of the following statements is most consistent with today’s views on effective marketing?“Learn about your customers and exceed their expectations.”
Comparing the business practices of the 1950s to those of today indicate that today’s marketing managers:have a more ambitious goal of not just satisfying customers, but of exceeding their expectations
_______________ consists of all the techniques sellers use to persuade consumers to buy their goods and services.promotion
Which of the following would be considered part of a firm’s marketing mix?determining the best pricing strategy for a product
A ___________ group consists of a small group of people who meet under the direction of a discussion leader to discuss opinions about an organization, its products, or other issues.focus
The first step in the marketing research process is to:define the problem and determine the present situation
Which of the following terms involves the analysis of markets to identify opportunities and challenges?marketing research
______________ is the process of identifying factors that can affect marketing success.environmental scanning
The most dramatic global change likely to affect the marketing success of most firms is the:widespread growth of the Internet
One of the social trends that marketers must monitor to maintain their close relationship with customers is the:increase in the number of older Americans
A ____________ marketing strategy develops products and promotions designed to please large groups of people.mass
Which of the following refers to the process of dividing the total market into several groups with similar characteristics?market segmentation
Firms that adopt a relationship marketing strategy attempt to:develop products that meet the specific requirements of individual customers.
Nature’s Sun, a company that designs and manufactures clothing for active people, focuses their marketing efforts on people who participate in strenuous outdoor activities such as running and mountain climbing. For example, the firm advertises heavily in magazines for runners. Nature’s Sun is using _____________ factors to segment its market.psychographic
Consumer decisions regarding the products they buy are often influenced by their nationality, religion, or ethnic origin. Marketers realize that the consumer decision-making process is impacted by the consumers’:subcultures.
Which of the following marketing eras refers to the time period from our country’s first settlers through the early 1900s?product era
Marketers define a _________________ as any physical good, service, or idea that satisfies a want or need.product
As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in which of the following?setting a price for the light fixtures her firm produces
_____________ consists of information that has already been researched by others and is published in journals or books, or has been made available online.Secondary data
Exploring _____________ data first helps marketers minimize marketing research costs.secondary
Robert Martinez is a marketing manager for Friendly Financial Services. He has been looking at a variety of factors, such as technological, socio-cultural and economic trends as well as competitive conditions. Martinez is confident that these factors will impact Friendly’s future marketing success. His efforts are an example of:environmental scanning.
_____________ marketing is the marketing of products to groups of customers a firm decides it can serve profitably.target
A firm that uses _____________ segmentation divides a market into groups based on values, attitudes, or interests.psychographic
___________ is the sale of goods and services by telephone.telemarketing
Direct mail, telemarketing, and catalog sales are all common examples of:direct marketing
___________ means selling goods and services to ultimate consumers over the Internetelectronic retailing
Marketing intermediaries that solicit orders from retailers or other wholesalers and have the products delivered directly from the producer to the buyer are known asdrop shippers
___________ are limited-function wholesalers who furnish shelves full of merchandise to retailers who sell these items on consignmentrack jobbers
One way traditional retailers have maintained customers in the face of increasing competition from online sellers and other direct markers is to place more emphasis on providing _________ utilityservice
Marketing intermediaries can provide _________ utility by offering customers affordable credit, free delivery, and product guaranteespossession
__________ is the value or want-satisfying ability that is added to products by organizations that make the product more useful or accessible to consumersutility
When marketing intermediaries perform the steps necessary to transfer ownership from one party to another, they are providing _________ utilitypossession
A __________ is a marketing intermediary that sells to ultimate consumersretailer
A(n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final userchannel of distribution
Finding out what consumers want and provide it for them is:consumer orientation
Making sure everyone in the organization has the same objective: customer satisfaction is:service orientation
Focusing on those goods and services that will earn the most profit and enable the organization to survive and expand to more customer wants and needs is:profit orientation
the process of learning as much as possible about present consumers is:customer relationship managment
the process of testing products among potential users is:test marketing
marketing research processDefining the question and determining the present situation, collecting data, analyzing the data, choosing the best solution and implementing it.
that are the four Psproduct, price, place, promotion
two way flows of information between marketing participantsinformation utility
putting products into as many retail outlets as possible, including vending machinesintensive distribution
preferred groups of the available retailers in the areaselective distribution
only one retail outlet given geographic areaexclusive distribution
the planning, implementing, and controlling of the physical flow of materials, final goods, and related information from points of origin to points of consumptionlogistics
products and information from suppliers to producersinbound logistics
products and information from business buyers to consumersoutbound logistics