3Ms 15% Rule: Fostering Innovation and Problem-Solving

The main purpose of 3M’s 15 % rule is to … offer innovators with an opportunity to identify solutions to issues and/or recognize new chances that would cause valuable 3M items.

When the Eastman Kodak Business concerns itself with disposal of its film plans in national forests by promoting the motto” Take just pictures, leave only footprints,” it is acting in accordance with … the social marketing principle.

Beth’s sorority volunteers to paint
graffiti on downtown fences.
She spent last Saturday assisting out, and felt satisfied due to the fact that she was adding to her community.

Was this an exchange? Yes, because painting the fences was exchanged for something of value– a feeling of fulfillment.

Walmart’s __________ can be explained as “everyday low costs for a broad variety of products that are constantly in stock in convenient locations.”
customer worth propostition Which of the following declarations is the primary reason that describes why

U.S. organisations moved from the
production age to the sales era? competition grew and the production of items increased.

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The goal of marketing is to both __________ the needs of prospective customers.
discover and satisfy

A marketing program is a plan that __________ the marketing mix for prospective buyers.

Which of the following statements is an example of place utility?
ATM machines in thousands of locations.

The marketing concept is the idea that an organization should strive to satisfy the needs of consumers
while also trying to achieve the organization’s goals.

A friend gave you the name of a company, Batteries Plus, where you could inexpensively purchase a new power cord for your laptop.

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However, when you called, no one answered the phone even though you called during business hours. Marketing did not occur because

there was no way for the parties to communicate.

Oprah.com recently launched Oprah’s Book Club 2.0, hoping to get back to the amazing success of her previous book club. While the ideas for the plan may have been sound, new users complain that the feel of the experience online is certainly not Web 2.0, which requires a highly dynamic environment, often involving crowdsourcing, or user-generated content. Instead, Oprah remains the central, controlling figure of the club. Most likely, a problem occurred during
the implementation stage

In BCG’s business portfolio analysis, __________ generate more revenue than they can use, allowing an organization to cover its overhead and invest in other SBUs.
cash cows

American railroads may have defined their __________ too narrowly, by concerning themselves only with rail service rather than including other transportation modes.

Business firms pursue several different types of goals such as profit, sales, market share, quality, customer satisfaction, employee welfare, and social responsibility. Which of these statements is most accurate?
If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized.

Writing ads and setting prices are examples of which of the following?
marketing tactics

The last phase of the strategic marketing process is known as

The market-product focus and goal setting part of the planning phase of the strategic marketing process includes which of the following?
selecting target markets

In diversification analysis, product development refers to the marketing strategy of
selling new products to current markets.

Southwest Airlines’ __________ is to be dedicated “to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.”

The marketing department is part of which strategic level in an organization?
functional level

Periods of declining economic activity during which time business production decreases, unemployment rises, and many consumers have less money to spend are known as

Which groups does a firm exhibiting stakeholder responsibility primarily serve?
consumers, employees, and suppliers

The practice of __________ occurs when an organization conducts business in a way that protects the natural environment while making economic progress.
sustainable development

From 2007 to 2010, a Chinese national who was employed by Dow Chemical as a research scientist delivered stolen trade secrets pertaining to organic fertilizers to individuals in Germany and the China for the purpose of developing competing products. The employee was subject to confidentiality, as detailed in an agreement that he had signed addressing his obligations for handling confidential information and trade secrets. This is an example of
economic espionage

When you begin your first full-time job, you have a monthly income of $3,500. Your federal and state taxes are $1,000. You pay $600 in rent, have a $300 car payment, and spend $300 on food and $200 on clothes. The remaining $1,100 would be considered your
discretionary income

Members of Generation Y are most likely to influence the marketing mix decisions regarding which of these products?
tablet devices

Current cultural values commonly held in the United States are
personal control, continuous change, and competition

The Clayton Act can be considered stronger than the Sherman Antitrust Act because
it forbade certain actions that lessen competition, even if no actual has yet occurred.

What does the Latin phrase caveat emptor mean?
let the buyer beware

What is the process of continually acquiring information on events occurring outside the organization, to identify and interpret potential trends called?
environmental scanning

The market leader for a(n) __________ product must make special efforts to avoid stockout situations so that buyers don’t substitute a competing brand.

The study of consumer __________ helps marketers understand why people choose one brand over another and how they make these choices.

Important variables in the family life cycle are age, marital status, and
presence of children

Using the same brand name for different products is an application of which concept from behavioral learning theory?
stimulus generalization

The VALS system is a(n) __________ measure of consumers.

or the purchase of a smartphone, Consumer Reports expects that many consumers use price, display, web browsing, and battery life as __________, since it tests products on these dimensions.
evaluative criteria

The __________ American subculture as a whole is characterized by hard work, strong family ties, appreciation for education, and median family incomes exceeding those of any other ethnic group

If you are thinking about buying a new television, which of these would be considered a public source of information for an external search?
the U.S. Consumer Product Safety Commission

To allay mothers’ concerns about ingredients in its mayonnaise, Hellmann’s successfully communicated the product’s high Omega 3 content, which is known to be essential to human health. This is an example of using which attitude change strategy?
changing beliefs about the extent to which a brand has certain attributes

If a consumer is happy with the firm, but natural, hold she gets from her latest purchase of hairspray, this would be considered which variable of the behavioral learning process?

Those behaviors that result from (1) repeated experience and (2) reasoning is referred to as

Consumer behavior that results from consumer socialization, passage through the family life cycle, and decision-making within the family or household is referred to as __________ influence.

In keeping with its business mission, Ben & Jerry’s
committed to buying its milk and cream from one dairy cooperative whose members guarantee the supplies are bovine growth hormone free.

According to the Colgate toothpaste ad above and the textbook, what approach did Colgate marketers use to encourage consumers to purchase its product?
adding new attributes to the product

Which of the following statements about how women buy cars today is most accurate?
Women are more likely to make their car purchase selection as a result of information provided by a friend or a relative than from promotional information.

Baby boomers can be defined as the generation of children born __________.
between 1946 and 1964

To serve both buyers and sellers, marketing seeks to discover and __________ the needs and wants of prospective customers.

The second phase of the strategic marketing process is the __________.
implementation phase

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.
controllable factors

A nongovernmental organization that serves its customers but does not have profit as an organizational goal is referred to as a
nonprofit organization

The terms __________ and a mission statement are often used interchangeably.

The generation of children born between 1977 and 1994 is sometimes referred to as
the baby boomlet

The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals reflects the
marketing concept

A marketing __________ is defined as the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

Sociocultural influences that affect the consumer purchase decision process include all of the following EXCEPT:
values, beliefs, and attitudes

What percentage of adults is considered to be opinion leaders?
10 percent

All of the following are commonly held values in the United States EXCEPT:
belief in fate

Which of the following statements about customer value is most accurate?
to create value for targeted buyers, firms must build long-term relationships with them.

In the 1960s, President Kennedy developed what is known as the Consumer Bill of Rights. This legislation was developed to protect consumers from unscrupulous marketers and guaranteed consumers four fundamental rights, including the right to be informed, the right to choose, the right to be protected, and the right to be heard. Many laws such as this were the results of __________.

Which of the following is considered one of the major factors that influences an individual’s personal moral philosophy and ethical behavior?
business cultural and industry practices

The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization. “Cash cows” are located in which area of the BCG growth-share matrix?
lower left quadrant

Your company is introducing a new line of activewear for teenagers and invites the members of the high school track team to a private display of the line. This group consists of __________ for activewear clothing.
opinion leaders

The five stages a buyer passes through in making choices about which product and service to buy is called the _________.
purchase decision process

__________ of all new businesses fail within five years of their launch.
over 50 percent

In the 19th century, the belief was that production creates its own demand. By the early 20th century, American companies began to produce more goods than buyers could consume. At the same time, competition became more significant. The usual solution was to hire more salespeople to find new buyers. This describes the __________ era.

Two former sales representatives of Amgen, a biotech company, alleged the company strongly encouraged its sales force to search confidential medical records in physician’s offices in an attempt to find names of patients that would benefit from the use of Amgen’s drug Enbrel, a treatment for psoriasis. After reporting this practice, these two people sued Amgen, claiming they did not go along with the scheme because they objected to it as being unethical. Soon after, one of the reps was fired and the other resigned after receiving a poor performance review. These two people are
whistle blowers

The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization. “Question marks” are SBUs that are classified as having
high market growth rates but low relative market shares.

Which of the following demographic trends has significant implications to global marketers?
the size of the markets in India and China

The personal, social, and economic significance of the purchase to the consumer, which is known as the level of __________, may cause him or her to skip or minimize one or more stages in the consumer purchase decision process.

The long-running U.S. Army recruiting advertisement that invited enlistees to “Be All You Can Be” appeals to which of hierarchy of needs level?
self-actualization needs

An organization’s stockholders, its suppliers, its employees, its customers, and society at large all share what in common with regard to an organization?
All are stakeholders and should benefit from the marketing of a product.

Multicultural marketing refers to combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different __________.
races or ethnic groups

The purchasing department identifies potential suppliers in which stage of the organizational buying process?
information search

Which of the following characterizes organizational buyer-seller relationships?
Relationships may evolve into supply partnerships.

Kenneth, in inside sales, has an office right across the hall from the administrative pool. When he heard they were purchasing a new paper shredder, he said, “I know I don’t get much of a say, but please look for one that is quieter. When you use it, my furniture actually vibrates. That thing drives me crazy!” In this instance, Kenneth performs what function in the buying center?

Jack co-owns a coin-operated laundry downtown with his two brothers, but he does most of the day-to-day management. Which of the following would MOST LIKELY be a straight rebuy for Jack?
reordering single-use detergent packets for his vending machine

During the postpurchase behavior stage of the organizational buying process, which of the following is MOST LIKELY to occur?
A supplier’s performance is formally evaluated.

Which type of e-marketplace is described as a neutral third party?
independent e-marketplaces

Since 1934, Milsco Manufacturing has been the exclusive source of seats for Harley-Davidson motorcycles as well as an aftermarket provider of parts and accessories such as saddlebags. Milsco engineers work closely with Harley-Davidson on the latter’s new product development efforts. Harley-Davidson is using __________ with Milsco.
supplier development

A buying committee differs from the typical buying center in that the former is
highly formalized

Within the industrial market, __________ companies make up about 75 percent of all firms.

Kohl’s, a department store chain, is an example of which type of organizational buyer?

What is another term for a gray market?
parallel importing

Theodore Levitt wrote a book titled The Marketing Imagination. In the book, Levitt argues that consumers around the world are becoming very similar in their wants and behaviors. Levitt asserts that marketers should standardize their marketing strategies and activities in order to benefit from economies of scale. Levitt is encouraging marketers to adopt a(n) __________ marketing strategy.

On which segment of global consumers have Adidas, Coca-Cola, and Apple capitalized?
the youth market

Golden Beauty, a brand of sun care products from L’Oréal, a French health and beauty products marketer, has advertising featuring dark tanning for northern Europeans, skin protection to avoid wrinkles among Latin Europeans, and beautiful skin for Europeans living along the Mediterranean Sea, even though the products are the same. This is an example of which type of global marketing strategy?
communication adaptation

Mexican officials claimed that U.S. apple growers were __________ when they appeared to be selling red and golden delicious apples in Mexico for less than the cost of producing them. This resulted in Mexico adding a tariff to these products.

Selling virtually the same product in other countries works well for companies such as New Balance Athletic Shoes. This is an example of which type of global marketing strategy?
product extension

One problem typical of __________ is that the U.S. firm may want to return earned profits (repatriate) to the United States, but the local partner in the local firm or its government may oppose this.
a joint venture

Which type of firm views the world as one market and emphasizes cultural similarities across countries rather than their differences?

Which of the following statements about global brands is most accurate?
A global brand uses the same product formulation or service concept across multiple countries and cultures.

The Foreign Corrupt Practices Act of 1977 made what practice illegal?
bribing an official of a foreign government to obtain business in that country

Representatives from Kraft spent several months with consumers in their kitchens, attempting to understand what they wanted in ready-to-serve meals prior to the launch of Kraft Deli Creations. The observational approach Kraft used is called __________ research.

In marketing research, the research objectives are the __________ goals of the decision maker.
specific and measurable

Linear trend extrapolation is a type of trend extrapolation in which the
pattern is always a straight line.

If a marketing manager queries a marketing information system to determine what the influence of a change in the price of a new product is on sales, she is using __________.
sensitivity analysis

In a marketing decision, __________ are likely to be restrictions on the time and money available to solve the problem.

When following the five-step marketing research approach, developing the research plan is the __________ step.

In marketing experiments, the dependent variable is the __________ and the independent variable is the __________.
result of an action; cause of an action

An advantage of using a panel for marketing research is
researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.

In eight small group sessions with customers, 3M heard them complain that standard steel wool pads scratched their expensive cookware. The findings from this research lead to the development of 3M’s internationally successful Scotch-Brite Never Scratch soap pads. The research method 3M used was
focus groups

Two special methods vital to marketing researchers are __________ and __________.
sampling; statistical inference

Which type of product positioning would be used to compete directly with competitors on similar product attributes in the same target market?
head to head positioning

Which of the following is a variable that could be used for demographic segmentation of consumer markets?
household size

Market segmentation involves aggregating prospective buyers into groups that have common needs and will
respond similarly to a marketing action.

Which of the following is an example of a single product with multiple market segments?
Johnson’s Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.

The nearly 14 percent of adult Americans who do not go to fast-food restaurants in a typical month and who are never likely to become users would be referred to as

__________ is the third step in the five step process of segmenting and targeting markets.
Developing a market-product grid

Which of the following is a criterion used to select a target market segment?
expected growth of a segment

Though the percentages are not always the same, a general rule in business says that the large majority of a firm’s revenues come from what percent of its customers?
20 percent

Running horizontally across a market-product grid, each row represents an opportunity for efficiency in terms of
a market segment

__________ is the increased customer value achieved through performing organizational functions, such as marketing, production, and operations, more efficiently.
organizational synyergy

Ideally, before a new product is developed, a firm should have a precise protocol, which is a statement that identifies: (1) what the product will be and do to satisfy consumers; (2) specific customers’ needs, wants, and preferences; and (3) __________.
a well defined target market

Which of the following products at the time of their introduction was the best example of a continuous innovation?
blu-ray player

The willingness to help customers and provide prompt service is referred to as

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value is referred to as a(n)

The camera lens module for Apple’s iPhone is manufacturers by Largan Precision and its touch panel comes from TPK. These are considered __________ for Apple’s product.

As consumers demand for Ford cars increases, Ford may increase its demand for paint spraying equipment, which in an example of __________ for the latter.
derived demand

Which of the following is the best example of a specialty product?
a Ferretti yacht

There are six organizational problems that can cause new-product disasters. One of them is __________.
avoiding the “NIH problem”

Annie’s Organic Shells & White Cheddar, an organic macaroni and cheese, is an example of a
product item

Idle production capacity can be reduced by
cutting a part-time worker’s hours during slow periods.

Wholesalers and retailers that buy physical products and resell them without any reprocessing are referred to as
reseller firms

Marketers need to understand their firms’ buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the LEAST USEFUL when trying to understand the operations of a buying center?
“What criteria were used to select the members of the buying center?”

In terms of price, which of the following type of consumer product would most likely be relatively inexpensive?
convienceve product

Marketing synergies often come at the expense of product synergies because
a single customer segment will likely require a variety of products.

People who control the flow of information in the buying center, such as technical experts and secretaries, can keep salespeople and information from reaching others in the buying center and are referred to as __________.

What marketing metric determines whether a TV program like American Idol remains on the Fox broadcast TV network?

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.
psychographic segments

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids __________.
the extra cost of developing and producing additional versions of the product

The practice of __________, which can affect the normal operation of the free market and limit the flexibility of buyers, is occasionally addressed in the ethics codes of companies or their purchasing policies.

The emphasis of a marketing strategy for a continuous innovation concentrates on
generating awareness

The place a product occupies in consumers’ minds on important attributes relative to competitive products is referred to as
product postitioning

Making action recommendations, implementing action recommendations, and evaluating results take place during which step of the five-step marketing research approach?
take marketing actions

Which of the following organizational buyers purchases raw materials and parts to reprocess into the finished goods they sell?

Derived demand means the demand for industrial products and services is driven by, or derived from, the
demand for consumer products and services.

When expenses are greater than the potential increased sales from market segmentation, a firm should
not consider market segmentation at this time.

Marketing researchers use tracking studies immediately before an upcoming film’s release to
forecast a movie’s opening weekend box office revenues.

Mechanical, personal, or neuromarketing methods are ways that __________ data can be collected.

In terms of the global marketplace, there are three primary types of companies: __________, multinational firms, and transnational firms.

To help consumers assess and compare its airline service, Frontier Airlines uses personable animal characters in its advertising to announce and describe benefits, such as leather seats and “stretch” seating, to help deal with the
intangibility of the service.

Setting research objectives and identifying possible marketing actions that might result from the research would take place during which step of the five-step marketing research approach?
define the problem

Set during the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.
research objectives

The total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts is referred to as the
sales forecast

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization’s marketing program.
buyers or market needs

Three frequently used sales forecasting techniques are (1) judgments of the decision maker; (2) surveys of knowledgeable groups; and (3) __________.
statistical methods

Segmentation based on some observable actions or attitudes by prospective customers, such as what benefits they seek, as well as where, how frequently, and why they buy, is referred to as
behavioral segmentation

The North American Free Trade Agreement was designed to encourage free trade between
he United States, Canada, and Mexico.

Industrial products are also referred to as __________ products.

When a brand name cannot be spoken, it is considered a __________.

Domino’s ran an advertisement saying that in a taste test its oven-baked sandwiches beat Subway 2-to-1. With this ad, Domino’s was attempting to stimulate __________ demand.

Harvesting is an option for a product in the __________ stage of its product life cycle.

When selecting a brand name, it should: (1) suggest product features; (2) be memorable, distinctive and positive; (3) fit the company or product image; (4) have no legal or regulatory restrictions; and (5) __________.
be simple and emotional

The person responsible for managing the marketing efforts for a close-knit family of products or brands is called the __________ or __________.
product manager, brand manager

Michelin has added a “run-flat” feature to its higher-priced tire lines so that they can travel up to 50 miles at 55 miles per hour after suffering total air loss. The marketing strategy Michelin used is called
trading up

Quaker Oats makes the FDA-approved claim that oatmeal, as part of a low-saturated-fat, low-cholesterol diet, may reduce the risk of heart disease. It is primarily using which of the following product repositioning strategies for this product?
catching a rising trend

An extended introduction stage of the product life cycle occurs for which type of product?
high learning

__________ begins with new-product purchases first by innovators, and then by early adopters.
Diffusion of innovation

From a marketing viewpoint, price is __________ exchanged for the ownership or use of a product or service.
the money or other considerations (including other products and services)

Gem Cakes sells designer cupcakes for $4 each. Each cupcake costs $1 for the ingredients and wrapper. Monthly expenses for the shop include the following: rent is $1,000; utilities are $200; an advertisement in the local paper is $200; and wages are $4,000 per month. How much monthly profit would be expected if the business sells 6,000 cupcakes each month?

Laura Hillenbrand’s book Unbroken, a WWII story of survival and resilience, was a New York Times bestseller in nonfiction for years. During its first year after publication, it often sold 25,000 copies a week in hardcover, at $27 apiece. The publisher’s costs were only about $5 a book. What is the total weekly revenue obtained during these weeks?

Guitar Center recently instituted “no haggle” selling prices, much to the dismay of some musicians who enjoyed bargaining and getting a better deal than a novice. But now, no matter which Guitar Center store a customer visits, that person will be quoted the same price for the same guitar. This is an example of a __________ policy.
one price

A(n) __________ involves setting different prices for products and services depending on individual buyers and purchase situations in light of demand, cost, and competitive factors.
flexible price policy

Which of the following statements about profit objectives is most accurate?
Profit objectives are often measured in terms of return on investment.

Which of the following statements about price elasticity of demand is most accurate?
Items requiring large cash outlays relative to a consumer’s disposable income are price elastic

A break-even point refers to
the point at which total revenue and total cost are equal

If you buy one pair of UVex Clear UVExtreme safety eyewear in the winter, the cost is $7.40. But if you buy 10 pairs in a single purchase, the price per pair is reduced to $6.85, a total savings of $5.50. This is an example of a
quantity discount

Jane Westerlund owns a picture-framing shop, The Caplow Co. Her price must cover her costs for a typical framed picture, which consists of $8 for glass, $2 for matting, $15 for the frame, and $35 for the labor involved. She must also cover monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $300 for advertising, and $3,500 for her salary. The Caplow Co. wants a target profit of $55,000 based on a volume of 1,000 picture frames sold so it can expand the number of stores. What price should Jane Westerlund charge for a picture frame?

Marketing executives typically consider three questions when choosing a marketing channel and intermediaries. These include: (1) which channel and intermediaries will provide the best coverage of the target market, (2) which channel and intermediaries will best satisfy the buying requirements of the target market, and (3) which channel and intermediaries will be the
most profitible

Suppose a large retail chain is considering increasing the number of distribution centers that serve its retail stores from 6 to 20. If the number of suppliers, retail outlets, and customers remain unchanged, which of the following statements accurately describes what will happen as a result of this expansion?
total inventory in the warehouse system will increase.

Quick response systems refer to
inventory management systems that are designed to reduce a retailer’s lead time for receiving merchandise, which then lowers its inventory investment, improves its customer service levels, and reduce its total logistics expense

Which of the following statements regarding electronic marketing channels is most accurate?
Electronic marketing channels employ the Internet to make products and services available for consumption or use by consumers or business buyers

Having a Chevron gas station located on a long stretch of lonely highway is an example of __________ utility.

Which of the following customer-service components is likely to be most critical for Honda when it purchases windshield wiper blades as a component for automobiles it manufactures?
dependability and on time delivery

Adding a wholesaler to the marketing channel for consumer products is most common for
low cost, low unit value items

Which statement regarding responsive supply chains is most accurate?
Responsive supply chains use common platforms and common components across several products.

Meyers, Inc. is an American company that manufactures and distributes coffee products in the U.S. Because of the popularity of its products, Meyers Inc. wants to enter new global markets. As a result, the firm decided to develop an international distribution network as soon as possible. The most efficient distribution arrangement in terms of cost and time for Meyers, Inc. would be to use __________.
a strategic channel alliance

The channel strategy demonstrated when Hallmark sells its Hallmark brand greeting cards through Hallmark stores and select department stores and its Ambassador brand of cards through discount and drugstore chains is referred to as __________.
dual distribution

One of the biggest problems an online retailer faces is
customers’ tendencies to get to the checkout and leave the website without concluding the purchase.

The factor that distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet is referred to as __________.
form of ownership

Jason felt the restaurant was too expensive for his taste as soon as he looked at the menu posted on the outside wall by the entrance and saw the price of a burger was $10. A product used in this way is known as a(n)__________ item.

How are television home shopping channels trying to attract new audiences?
by using young celebrities like the Kardashians and LeAnn Rimes

Regional shopping centers often contain two or three anchor stores. An anchor store is
a well-known national or regional store.

Which type of outlet is MOST LIKELY in the maturity stage of the retail life cycle?

Pear Tree offers a wide variety of personalized cards, announcements, and stationery, available through its interactive website. Which utility does Pear Tree provide with its ability to customize its products?

Kelly is responsible for the paper products in the grocery store where she works. She considers herself an expert; she knows all about the various manufacturers, the types of products they sell, and even how consumers use these items. She is responsible for what to order, how much to order, and how to price these products in the store. Kelly is engaged in __________ for the store.
category management

The retailing mix includes retail communication, merchandise, and which two other elements?
store location and retail pricing

The first decision in executing the promotion program is to __________.
pretest the promotion

What is the promotional objective of the decline stage of the product life cycle?
phase out

Which of the following is NOT an extraneous factor that can work against effective communication?
the message is considered too ordinary

The __________audit analyzes the internal communication network of the company; identifies key audiences; evaluates customer databases; assesses messages in recent ads, public relations releases, packaging, video news releases, signage, sales promotion pieces, and direct mail; and determines the expertise of company and agency personnel.

During the planning stage of an IMC program, a firm will identify the target audience, specify the advertising objectives, __________, select the right promotional tools, and design the promotion.
set the budget

Factors such as differences in the availability of credit, the need for improved reliability and security in postal systems, and government regulations represent important challenges for __________ in the global market.
direct marketing

Which of the following is an inherent weakness of advertising?
it is difficult to receive good feedback

A few years ago, Young and Rubicam, Inc. developed the “Softer Side of Sears” campaign to target middle-income women. This agency provided marketing research, media selection, copy development, artwork, and production services for Sears. Young and Rubicam is an example of a(n)
full service advertising agency

One of the advantages associated with radio as an advertising medium is that it
is a segmented medium

Which of the following statements about attitude tests is most accurate?
In an attitude test, respondents are asked questions to measure changes in their attitudes after an advertising campaign, such as whether they had a more favorable attitude toward the product advertised.

Which of the following is NOT a consumer-oriented sales promotion?
merchandise allowance

Which of the following is an example of a pretest?
portfolio test

To eliminate possible bias that might result from subjective judgments about some population segments, the Federal Communications Commission (FCC) suggests that
advertising program decisions should be based on market research about the target audience.

There are five common approaches to posttests: aided recall, unaided recall, attitude tests, inquiry tests, and __________.
sales tests

The objective of __________ advertising is to persuade the target market to select the firm’s brand rather than that of a competitor.

For marketers, the primary objective of a premium is to
encourage customers to return frequently or to use more of the product

Institutional advertisements are
advertisements that build goodwill or an image for an organization rather than promote a specific product or service.

In what way are traditional and social media different?
It is hard to discern the expertise and credibility of many creators of social media sites.

The best method to recruit student volunteers to help freshmen move into the dorms is
using social media

In classifying social media, media richness is the
degree of acoustic, visual, and personal contact between two communication partners.

A social networking site that allows people to keep in touch with photos, videos, and comments most accurately describes

The T-Mobile promotion featuring Chuck Norris illustrates the impact of social media on __________.
global marketing strategies

What is the social media site that is primarily used for professional networking?

Social networks have a unique ability to empower users by connecting with them individually. This shifting mindset will lead to connected users having more __________ in the marketplace.

A brand’s share or percentage of all the online social media chatter related to a product category or topic is referred to as
share of voice

Which of the following is NOT a result of the convergence of real and digital worlds?
Gathering data about consumers from newspaper, magazine, and TV advertising.

What are the three closing techniques used when a salesperson believes a buyer is about ready to make a purchase?
trial, assumptive, and urgency

Asking the prospect to make choices concerning delivery, warranty, or financing terms is part of a(n) __________ close.

Which type of personal selling presentation format is the most consistent with the marketing concept?
need-satisfaction presentation format

Sales management consists of three interrelated functions: (1) sales plan formulation; (2) sales plan implementation; and (3) __________.
salesforce evaluation

During the preapproach stage of the personal selling process, salespeople gather information about prospects using the following methods, which include all of the following EXCEPT:
exhibits at trade shows, professional meetings, conferences.

A salesperson who sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on a customer’s use of a product or service is referred to as a(n) __________.
order getter

A(n) __________ is a salesperson who processes routine orders or reorders for products that were already sold by the company.
order taker

The tasks involved in managing personal selling include setting objectives; organizing the salesforce; __________; and evaluating the performance of individual salespeople.
recruiting, selecting, training, and compensating salespeople

A __________ sales organization is the best organizational structure to use when different organizational buyers have different needs.

Three major presentation formats exist: (1) __________; (2) formula selling format; and (3) need-satisfaction format.
stimulus-response format

Which of the following is an important guideline when using a fear appeal?
Don’t make the appeal so strong that consumers want to “tune out” the advertisement.

Product advertisements focus on selling __________.
a product or service

The social media website open to anyone age 13 and over, where users keep family and friends up to date on what they are thinking, doing, and feeling; chat with friends, create and join common-interest groups organized by workplace, high school, college, and Pages is known as

A printed or an e-mailed announcement that is sent to members of the business press from German pharmaceutical giant Bayer stating that it is looking for a buyer for its household insecticide business as part of its restructuring program is an example of which type of publicity tool?
news release

Many companies are now opting for commercial time on live events rather than programs that consumers might
watch later on a DVR.

Communication is the process of conveying a message to others and it requires six elements. These elements include: a source, a message, a channel of communication, a receiver, and __________.
the processes of encoding and decoding

Social media are
online media where users submit news, photos, and videos—often accompanied by a feedback process to identify “popular” topics

Salespeople called __________ visit customers and replenish inventory stocks of resellers, such as retailers or wholesalers.
outside order takers

Personal selling serves three major roles in a firm’s overall marketing effort. Salespeople: (1) are the critical link between a firm and its customers; (2) are the company in consumers’ eyes; and (3)
may play a dominant role in a firm’s marketing program

Marketers are increasingly using social media to reach college-age students in the U.S. because
they work better than traditional print media.

Brand managers find out what people are saying about their brand on Twitter by
using keyword search monitoring from services such as CoTweet

Sales management consists of three interrelated functions: (1) sales plan formulation; (2) __________; and (3) salesforce evaluatio
sales plan implementation

A pull strategy is when a manufacturer
directs the promotional mix at ultimate consumers to encourage them to ask retailers for the product.

At the __________ stage in the personal selling process, a salesperson gains a prospect’s attention, stimulates interest, and builds the foundation for the sales presentation itself.

The primary purpose of a pioneering product advertisement is to
tell people what a product is, what it can do, and where it can be found

Everyone lives by selling something” was an observation made by __________.
Robert Louis Stevenson

After a receiver responds to a message, the sender’s interpretation of the response indicating whether the message was decoded and understood as intended during the communications process is referred to as __________

In planning and obtaining publicity, a frequently used tool is the __________, which is an announcement regarding changes in the company or the product line.
news release

Social media advertising is helpful to brand managers because consumers are __________.
active receivers who send UGC to both friends and advertisers

One of the disadvantages associated with television as an advertising medium is that it
it is very expensive to prepare and run ads

The key objective of competitive advertising is to
persuade the target market to select the firm’s brand rather than that of a competitor.

All of the following statements are true about coupons EXCEPT
coupons are often less expensive than the face value of the coupon

Communication is the process of conveying a message to others and it requires six elements. These elements include: __________, a message, a channel of communication, a receiver, and the processes of encoding and decoding.
a source

Customers can build their own bicycle at SevenCycles.com by answering a few questions and choosing from a menu of product attributes, prices, and delivery options. The design of a precise bicycle is made possible through the use of a __________.

The National Do-Not-Call Registry was created to give Americans a tool for maintaining their privacy on home telephone lines. More than __________ of all households are registered.
60 percent

An advertising message usually focuses on the __________ that is/are important to a prospective buyer in making trial and adoption decisions.
key benefits of the product

A fixed amount of money paid to the site for every visitor who clicks on an ad and goes from the website to the advertiser’s site is referred to as
cost per click

Personal selling assumes many forms based on the __________ and the __________ to perform the sales task.
amount of selling done,amount of creativity required

The tasks involved in managing personal selling include: (1) organizing the salesforce; (2) __________; (3) recruiting, selecting, training, and compensating salespeople; and (4) evaluating the performance of individual salespeople.
selling objectives

The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision is referred to as
personal selling

Which of the following responses does the textbook recommend a brand manager take during a social media attack on a brand
Communicate your solution with transparency and an approachable tone through multiple social media platforms.

Which is the simplest form of salesforce organizational structure?

Cite this page

3Ms 15% Rule: Fostering Innovation and Problem-Solving. (2018, Jan 02). Retrieved from http://studymoose.com/marketing-notes-essay

3Ms 15% Rule: Fostering Innovation and Problem-Solving
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