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Marketing > Marketing Test 3 > Flashcards

Marketing Test 3 Flashcards

1
Q

The process of taking a product from the raw material stage to the store shelves is handled by several channels known collectively as a _____.

A

supply chain

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2
Q

What is the goal of supply chain management?

A

To reduce costs by reducing the length of the supply chain

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3
Q

Contracting/promotion, negotiating, and risk taking are what type of functions?

A

Transactional functions

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4
Q

Physically distributing, storing, and sorting products are what type of functions?

A

Logistical functions

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5
Q

Researching and financing are what type of functions?

A

Facilitating functions

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6
Q

How does a company decide if they should add a channel to their supply chain?

A

Determine if the value the channel provides to the customer exceeds the cost of the channel

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7
Q

If a company passes title of their product to a warehouse, what intangible item have they transferred to the warehouse in addition to the product?

A

Risk

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8
Q

What are 3 reasons supply chains streamline distribution?

A
  1. They reduce the number of transactions
  2. They increase value to the consumers by matching supply and demand
  3. They are more efficient and effective
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9
Q

What are 2 ways supply chain management affects marketing?

A
  1. By fulfilling delivery promises

2. By meeting customer expectations

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10
Q

If orders are based on sales data, is the supply chain push or pull?

A

Pull

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11
Q

Which supply chain is better when inventory is more accurate? Push or pull?

A

Pull

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12
Q

Which supply chain is better when demand is uncertain? Push or pull?

A

Pull

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13
Q

When coupons and advertising are used, is this a push or pull supply chain?

A

Pull

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14
Q

When merchandise is allocated based on forecast, is this a push or pull supply chain?

A

Push

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15
Q

Which supply chain does not require a sophisticated inventory system? Push or pull?

A

Push

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16
Q

Which supply chain is better for items with a steady demand? Push or pull?

A

Push

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17
Q

If a store puts an item on sale, is this a push or pull supply chain?

A

Push

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18
Q

If the customer is the marketing target, is this a push or pull supply chain?

A

Pull

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19
Q

If the distribution channel is the marketing target, is this a push or pull supply chain?

A

Push

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20
Q

Reduced lead time, increased product availability, and lower inventory investment are benefits of what type of inventory management system?

A

A just-in-time system

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21
Q

What 2 channels are involved in a direct channel?

A

Producer, Consumer

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22
Q

What 3 channels are involved in a retailer channel

A

Producer, Retailers, Consumer

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23
Q

What 4 channels are involved in a wholesaler channel?

A

Producer, Wholesalers, Retailers, Consumers

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24
Q

What 5 channels are involved in an agent/broker channel?

A

Producer, Agents/Brokers, Wholesalers, Retailers, Consumers

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25
Q

What type of channel does a car dealership use? (Direct, Retailer, Wholesaler, or Agent/Broker)

A

Retailer

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26
Q

What type of channel does the drug industry use?

Direct, Retailer, Wholesaler, or Agent/Broker

A

Wholesaler

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27
Q

Do agents/brokers ever take title of the product?

A

No

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28
Q

What is the benefit of a Vertical Marketing System?

A

It allows for a “leader” which means more control and less conflict

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29
Q

What are the 3 types of Vertical Marketing Systems?

A

Administered, Corporate, Contractual

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30
Q

Which Vertical Marketing System has one dominant channel with a lot of power? (Administered, Corporate, Contractual)

A

Administered

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31
Q

Which Vertical Marketing System would a franchise be use? (Administered, Corporate, Contractual)

A

Contractual

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32
Q

In which Vertical Marketing Systems are all channels owned by the same company? (Administered, Corporate, Contractual)

A

Corporate

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33
Q

What are the 6 areas that make up the promotions mix?

A
  1. Advertising
  2. Sales Promotion
  3. Public Relations
  4. Direct Marketing
  5. Internet Marketing
  6. Personal Selling
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34
Q

What is the term for using the promotions mix in combination to provide a clear and consistent message to maximize communication impact?

A

Integrated Marketing Communications

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35
Q

What is the most visible element of Integrated Marketing Communications?

A

Advertising

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36
Q

What is the biggest advantage of public relations?

A

It’s free

37
Q

Coupons, rebates, contests, and reward programs are examples of which element of Integrated Marketing Communications?

A

Sales promotions

38
Q

What is the biggest disadvantage of personal selling?

A

It’s expensive

39
Q

Junk mail and telemarketing are examples of which element of Integrated Marketing Communications?

A

Direct Marketing

40
Q

Websites, blogs, and social media are examples of which element of Integrated Marketing Communications?

A

Internet Marketing

41
Q

What are the 2 methods of determining the Integrated Marketing Communications budget?

A

Objective-and-task method

Rule-of-thumb method

42
Q

Which of these 2 methods shows more faith in advertising? Objective-and-task method or Rule-of-thumb method

A

Objective-and-task method

43
Q

Which of these 2 methods uses available budget to determine how much to spend on advertising? Objective-and-task method or Rule-of-thumb method

A

Rule-of-thumb method

44
Q

What are 4 ways to measure marketing success?

A

Frequency
Reach
Gross rating points
Web tracking

45
Q

Can frequency and reach be maximized at the same time?

A

No

46
Q

How are gross rating points calculated?

A

Reach times frequency

47
Q

What are the 3 objectives of advertising?

A

Inform
Persuade
Remind

48
Q

Which type of advertising communicates to create and build brand awareness? (Informative, Persuasive, Reminder)

A

Informative

49
Q

Which type of advertising is often used in the introduction stage of the product life cycle? (Informative, Persuasive, Reminder)

A

Informative

50
Q

Which type of advertising is used to inform customers about upcoming sales events or arrival of new merchandise? (Informative, Persuasive, Reminder)

A

Informative

51
Q

Which type of advertising generally occurs in the growth and early maturity stages of the product life cycle? (Informative, Persuasive, Reminder)

A

Persuasive

52
Q

Which type of advertising generally occurs when competition is the most intense? (Informative, Persuasive, Reminder)

A

Persuasive

53
Q

Which type of advertising can be used to reposition an established brand? (Informative, Persuasive, Reminder)

A

Persuasive

54
Q

Which type of advertising is used to prompt repurchases? (Informative, Persuasive, Reminder)

A

Reminder

55
Q

Which type of advertising is used after products have gained market acceptance? (Informative, Persuasive, Reminder)

A

Reminder

56
Q

Which type of advertising is commonly used in the maturity stage of the product life cycle? (Informative, Persuasive, Reminder)

A

Reminder

57
Q

What type of advertisements are about places, politics, an industry, or a corporation?

A

Institutional

58
Q

“Just do it” and “TNT - We Know Drama” are examples of what?

A

Campaign themes

59
Q

Which type of appeal presents factual information that helps consumers make decisions based on key benefits?

A

Informational appeal

60
Q

Which type of appeal aims to satisfy emotional desires rather than utilitarian needs?

A

Emotional appeal

61
Q

Evaluating and selecting the type of media that will be used for advertising (radio, TV, magazines, etc.) is known as what?

A

Media planning

62
Q

The combination of different media used for advertising is known as what?

A

The media mix

63
Q

What is the purchase of airtime or print pages known as?

A

A media buy

64
Q

Would advertising on the Food Network be an example of niche media or mass media?

A

Niche

65
Q

Would advertising during the superbowl be an example of niche media or mass media?

A

Mass

66
Q

What type of marketing campaign relies on users to spread the word about products?

A

Viral Marketing

67
Q

What are the 3 possible advertising schedules?

A

Continuous
Pulsing
Flighting

68
Q

Which advertising schedule has a regular, steady stream of advertising throughout the year? (Continuous, Pulsing, Flighting)

A

Continuous

69
Q

Which advertising schedule only advertises at certain times during the years? (Continuous, Pulsing, Flighting)

A

Flighting

70
Q

Which advertising schedule advertises all year long, but has more advertising during certain times? (Continuous, Pulsing, Flighting)

A

Pulsing

71
Q

What is the goal of public relations?

A

To maintain or improve a company’s image.

72
Q

What is the goal of the World Trade Organization?

A

To create a world where goods flow freely

73
Q

What type of analysis involves evaluating the gross domestic product, gross national income, purchasing power parity, and human development index of a country? (Economic, Infrastructure & Technology, Sociocultural, Government)

A

Economic analysis

74
Q

What type of analysis involves evaluating the market size and population growth rate of a country? (Economic, Infrastructure & Technology, Sociocultural, Government)

A

Economic analysis

75
Q

What type of analysis involves evaluating transportation, communication, distribution channels, and commerce in another country? (Economic, Infrastructure & Technology, Sociocultural, Government)

A

Infrastructure and technology analysis

76
Q

What are 5 actions the government can take to regulate trade?

A 
Quota
Boycott
Exchange control
Trade agreement
Tariff
77
Q

What is a tax that artificially raises prices and lowers demands?

A

Tariff

78
Q

What is a limit on imports called?

A

Quota

79
Q

What can a country do if they wish to purchase products in another country where currency is worthless?

A

Countertrade

80
Q

What is it called when goods or services are paid for with other goods or services?

A

Countertrade

81
Q

What type of analysis involves evaluating power distance, uncertainty avoidance, individualism, masculinity, and time orientation in another country? (Economic, Infrastructure & Technology, Sociocultural, Government)

A

Sociocultural

82
Q

Which of these global entry strategies involves the least amount of risk, but gives the company the least amount of control?
(Export, Franchising, Strategic Alliance, Joint Venture, Direct Investment)

A

Export

83
Q

Which of these global entry strategies involves the most risk, but gives the company the most amount of control?

A

Direct Investment

84
Q

What are the 5 possible global entry strategies?

A 
Export
Franchising
Strategic Alliance
Joint Venture
Direct Investment
85
Q

When the same product is sold in another country with the same message, this is called _____.

A

One Product

One Message

86
Q

When a product is changed for another country, but still has the same message, this is called____.

A

Product Adaptation

87
Q

When the same product is sold in another country, but the message is changed, this is called____.

A

Promotion Adaptation

88
Q

When a product is changed for another country, and the message is also changed, this is called_____.

A

Product Invention

89
Q

What are 5 factors for setting prices in a global market?

A 
Tariffs
Quotas
Anti-dumping policies
Economic conditions
Competitive factors

Marketing (2 decks)

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