Services in Marketing

<p>A market with customers who have specific needs or preferences (B)</p> Signup and view all the answers

<p>Investors and financial analysts (C)</p> Signup and view all the answers

<p>A business that supplies raw materials to manufacturers (A)</p> Signup and view all the answers

<p>A tangible physical product offered for sale to customers (A)</p> Signup and view all the answers

<p>A group of people or organizations that are interested in buying a particular product or service (B)</p> Signup and view all the answers

<p>It helps you tailor your message and promotional efforts to best reach and appeal to your potential customers (A)</p> Signup and view all the answers

<p>The consumer market refers to individual customers who purchase goods or services for their personal use, while the B2B market refers to businesses that purchase goods or services to support their own operations (B)</p> Signup and view all the answers

<p>They are often customized to the needs of each individual customer (B)</p> Signup and view all the answers

<p>A bakery that transforms basic ingredients into a cake (D)</p> Signup and view all the answers

<p>Goods cannot be customized to the needs of each individual customer, while services can (B)</p> Signup and view all the answers

<p>It refers to the value that is added to a product or service by making it available at the right time (B)</p> Signup and view all the answers

<p>Place utility (B)</p> Signup and view all the answers

<p>To increase customer satisfaction and loyalty (C)</p> Signup and view all the answers

<p>The path that a customer takes when interacting with a brand or company, from initial awareness to post-purchase experience (A)</p> Signup and view all the answers

<p>Functional value refers to the tangible benefits that a customer receives from a product or service, while emotional value refers to the intangible benefits (A)</p> Signup and view all the answers

<p>Product development (C)</p> Signup and view all the answers

<p>Identifying gaps in the market (B)</p> Signup and view all the answers

<p>To understand the market environment (C)</p> Signup and view all the answers

<p>A message that explains why a customer should choose a particular product or service over other alternatives (A)</p> Signup and view all the answers

<p>A comprehensive and coordinated marketing approach that combines different marketing channels and tactics (C)</p> Signup and view all the answers

<p>The worth or benefit that a customer perceives they will receive from a product or service (D)</p> Signup and view all the answers

<p>Employee demographics (D)</p> Signup and view all the answers

<p>To create a connection between the customer and the brand (A)</p> Signup and view all the answers

<p>Encouraging satisfied customers to promote and endorse a brand or product to their networks (A)</p> Signup and view all the answers

<p>To increase customer retention and positive word-of-mouth referrals (D)</p> Signup and view all the answers

<p>A high customer lifetime value (A)</p> Signup and view all the answers

<p>The total value of all customers that a business has over the course of their relationship with the business (C)</p> Signup and view all the answers

<p>Customers who are loyal to the brand but are not profitable (C)</p> Signup and view all the answers

<p>To attract new customers and retain existing ones (A)</p> Signup and view all the answers

<p>The price of the product or service (C)</p> Signup and view all the answers

<p>Customer loyalty refers to a customer's willingness to repeatedly engage with and purchase from a particular brand or business, while customer retention refers to a business's ability to keep its existing customers over a period of time (A)</p> Signup and view all the answers

<p>The predicted net profit that a customer will generate over the course of their relationship with a business (B)</p> Signup and view all the answers

<p>By offering personalized experiences that demonstrate empathy and understanding (A)</p> Signup and view all the answers

<p>To improve customer satisfaction and drive sales growth (A)</p> Signup and view all the answers

<p>The process of developing and implementing marketing strategies to achieve specific objectives (D)</p> Signup and view all the answers

<p>To collect and interpret data related to marketing activities and market conditions (B)</p> Signup and view all the answers

<p>To develop goods and services that meet those needs (C)</p> Signup and view all the answers

<p>Define the problem (D)</p> Signup and view all the answers

<p>To promote a product, service, or brand (A)</p> Signup and view all the answers

<p>Develop solutions (A)</p> Signup and view all the answers

<p>Its volume, variety, and velocity (C)</p> Signup and view all the answers

<p>To create more effective campaigns (C)</p> Signup and view all the answers

<p>The ability of machines to perform tasks that would typically require human intelligence (A)</p> Signup and view all the answers

<p>The responsibility of companies to act in ways that benefit society, the environment, and their stakeholders (C)</p> Signup and view all the answers

<p>Product (C)</p> Signup and view all the answers

<p>The 4 Ps focus on the product, price, promotion, and place, while the 6 Ps add people and process. (A)</p> Signup and view all the answers

<p>To generate sales and grow the business (B)</p> Signup and view all the answers

<p>The physical location of the business (C)</p> Signup and view all the answers

<p>Placement (A)</p> Signup and view all the answers

<p>To analyze the competition (A)</p> Signup and view all the answers

<p>Promotion refers to marketing activities in general, while personal selling specifically refers to face-to-face sales interactions (A)</p> Signup and view all the answers

<p>To identify the target market (C)</p> Signup and view all the answers

<p>The process of putting a company's marketing plan into action (D)</p> Signup and view all the answers

<p>The process of monitoring and evaluating the results of a company's marketing efforts (B)</p> Signup and view all the answers

<p>To analyze data about customers (C)</p> Signup and view all the answers

<p>They allow businesses to reach a wider audience in a more targeted and cost-effective way (B)</p> Signup and view all the answers

<p>To promote goods or services that have a minimal impact on the environment and society (C)</p> Signup and view all the answers

<p>The consideration of the impact of goods or services on society, including fair labor practices and ethical sourcing of materials (B)</p> Signup and view all the answers

<p>To build trust with customers, employees, and other stakeholders (A)</p> Signup and view all the answers

<p>Traditional marketing does not consider the impact of goods or services on society (B)</p> Signup and view all the answers

<p>Industrial markets (D)</p> Signup and view all the answers

<p>Product recognition (D)</p> Signup and view all the answers

<p>Technological characteristics (C)</p> Signup and view all the answers

<p>Strict ethical standards (D)</p> Signup and view all the answers

<p>CSR can lead to increased customer loyalty and a stronger brand image (D)</p> Signup and view all the answers

<p>A market where businesses sell goods or services to other businesses (C)</p> Signup and view all the answers

<p>They can develop products that are environmentally friendly and market them as such (C)</p> Signup and view all the answers

<p>Dissonance-reducing buying behavior (C)</p> Signup and view all the answers

<p>Providing information and support to consumers after the sale (D)</p> Signup and view all the answers

<p>Toothpaste (C)</p> Signup and view all the answers

<p>Need recognition (D)</p> Signup and view all the answers

<p>Focus on building long-term relationships and meeting specific business needs (B)</p> Signup and view all the answers

<p>Business markets involve transactions and relationships between companies and organizations, while consumer markets involve buying and selling goods and services for personal use (B)</p> Signup and view all the answers

<p>To build long-term relationships and meet specific business needs (C)</p> Signup and view all the answers

<p>The evaluation of whether the product or service meets the customer's expectations after the purchase has been made (A)</p> Signup and view all the answers

<p>The person who controls access to information and can influence the decision-making process (B)</p> Signup and view all the answers

<p>When a business wants to modify its existing product or service order, or wants to change its supplier (A)</p> Signup and view all the answers

<p>The person who ultimately makes the decision to purchase the product or service (B)</p> Signup and view all the answers

<p>When a business needs to purchase a product or service for the first time, or when it needs to purchase a product or service that is significantly different from what it has purchased before (D)</p> Signup and view all the answers

<p>Dissonance-reducing buying behavior occurs when consumers are buying low-priced products with little thought, while habitual buying behavior occurs when consumers are emotionally invested in a high-priced product. (C)</p> Signup and view all the answers

<p>A type of consumer behavior that occurs when a consumer is highly involved in a purchase and there are significant differences between brands or products. (D)</p> Signup and view all the answers

<p>A type of consumer behavior that occurs when a consumer is buying low-priced, frequently purchased products but is interested in trying new products and experiences. (C)</p> Signup and view all the answers

<p>By offering limited-time products that appeal to consumers' desire for novelty and variety. (C)</p> Signup and view all the answers

<p>Size, structure, culture, and goals (D)</p> Signup and view all the answers

<p>Problem recognition (D)</p> Signup and view all the answers

<p>Customer demographics (A)</p> Signup and view all the answers

<p>The beliefs and values of different cultures that influence the behavior of businesses and consumers. (D)</p> Signup and view all the answers

<p>To develop effective marketing strategies that resonate with local cultures and customs. (C)</p> Signup and view all the answers

<p>Certain images or messages that are acceptable in one culture may be considered offensive or inappropriate in another culture. (A)</p> Signup and view all the answers

<p>Microenvironment consists of the factors that are directly related to a business, while macroenvironment refers to external factors. (A)</p> Signup and view all the answers

<p>To identify opportunities and threats that may arise in the marketing environment. (D)</p> Signup and view all the answers

<p>The conditions and trends that affect the overall performance of the economy and how they impact businesses and customers. (C)</p> Signup and view all the answers

<p>The characteristics of the population that can affect a business's marketing strategy. (B)</p> Signup and view all the answers

<p>The factors such as unemployment rates, inflation, interest rates, economic growth, and consumer confidence that influence the behavior of businesses and consumers (B)</p> Signup and view all the answers

<p>It makes it more expensive for businesses to export goods to other countries (B)</p> Signup and view all the answers

<p>The physical world including natural resources, climate, and geography that influence the behavior of consumers and businesses (B)</p> Signup and view all the answers

<p>To develop effective marketing strategies that comply with laws and regulations and align with societal values and trends (C)</p> Signup and view all the answers

<p>Institutional markets are non-profit or government entities, while governmental markets involve buying and selling between government entities and private businesses. (B)</p> Signup and view all the answers

<p>To identify trends and patterns in the market that can be used to inform marketing strategy. (C)</p> Signup and view all the answers

<p>A series of steps that an organization goes through when making a purchase of goods or services. (C)</p> Signup and view all the answers

<p>It helps them to develop effective marketing strategies that target the right people at the right time. (C)</p> Signup and view all the answers

<p>The beliefs, values, customs, and behaviors of different cultures that influence consumer behavior (D)</p> Signup and view all the answers

<p>To avoid cultural missteps that may harm their reputation and business success (A)</p> Signup and view all the answers

<p>The cultural expectations (D)</p> Signup and view all the answers

<p>Internal reports (C)</p> Signup and view all the answers

<p>To identify market trends and consumer preferences (A)</p> Signup and view all the answers

<p>Qualitative research involves open-ended questions, while quantitative research involves closed-ended questions (A)</p> Signup and view all the answers

<p>Social media provides real-time feedback from consumers (A)</p> Signup and view all the answers

<p>To track the effectiveness of social media campaigns (B)</p> Signup and view all the answers

<p>To gather and analyze data on market trends and consumer behavior (C)</p> Signup and view all the answers

<p>To respect user privacy and only collect necessary data (A)</p> Signup and view all the answers

<p>To gather and analyze data on market trends and consumer behavior (C)</p> Signup and view all the answers

<p>To collect, organize, and analyze data from various sources to provide insights and information for strategic marketing decisions (D)</p> Signup and view all the answers

<p>Identifying the external factors that can impact the organization's marketing activities (D)</p> Signup and view all the answers

<p>To gain insights into the market and develop strategies that set the organization apart from the competition (B)</p> Signup and view all the answers

<p>Marketing goals, target market, industry trends, and internal data (D)</p> Signup and view all the answers

<p>To track and analyze user behavior (D)</p> Signup and view all the answers

<p>Quantitative data involves numerical data such as click-through rates (B)</p> Signup and view all the answers

<p>To deliver targeted ads to users based on their online behavior (D)</p> Signup and view all the answers

<p>A technique that involves monitoring and analyzing social media interactions and conversations to gain insights into consumer behavior and preferences (D)</p> Signup and view all the answers

<p>Qualitative research methods involve collecting non-numerical data, while quantitative research methods involve collecting numerical data (D)</p> Signup and view all the answers

<p>Survey research is a quantitative research method used to measure customer attitudes, preferences, and behaviors towards products, services, or brands (C)</p> Signup and view all the answers

<p>Experimental research is a quantitative research method used to measure the effect on customer behavior or attitudes by manipulating one or more variables (C)</p> Signup and view all the answers

<p>To gain insight into customer opinions, attitudes, and behaviors related to a particular product, service, or brand (C)</p> Signup and view all the answers

<p>To identify the most promising target markets for goods or services (A)</p> Signup and view all the answers

<p>Creating products that are more likely to be successful in the marketplace (A)</p> Signup and view all the answers

<p>To resonate with specific customer segments (D)</p> Signup and view all the answers

<p>To identify the specific needs, preferences, and characteristics of different customer groups and tailor products and marketing messages to each group (C)</p> Signup and view all the answers

<p>Identifying different customer groups, such as runners, basketball players, and hikers, and designing shoes that meet the specific needs and preferences of each group (A)</p> Signup and view all the answers

<p>Because customers have different needs and preferences (A)</p> Signup and view all the answers

<p>Personality type (A)</p> Signup and view all the answers

<p>To create a comprehensive picture of the target audience (B)</p> Signup and view all the answers

<p>Psychographic segmentation is based on personality type, while behavioral segmentation is based on actual customer behavior (A)</p> Signup and view all the answers

<p>To represent the company's target audience (D)</p> Signup and view all the answers

<p>To produce and sell a single product to all customers (D)</p> Signup and view all the answers

<p>Mass marketing targets the entire market with a single product, while target marketing focuses on specific groups of customers with tailored products (B)</p> Signup and view all the answers

<p>Measurable, accessible, substantial, differentiable, actionable (C)</p> Signup and view all the answers

<p>Assumes all customers have similar needs and preferences (C)</p> Signup and view all the answers

<p>Industry (D)</p> Signup and view all the answers

<p>GDP per capita (B)</p> Signup and view all the answers

<p>To develop effective marketing strategies (B)</p> Signup and view all the answers

<p>Region or country (D)</p> Signup and view all the answers

<p>Dividing a market into different geographic regions based on factors such as country, region, state, city, or zip code (A)</p> Signup and view all the answers

<p>Dividing a market into different groups based on personality traits, values, interests, and lifestyles (A)</p> Signup and view all the answers

<p>Dividing a market into different groups based on demographic factors such as age, gender, income, education, occupation, and family status (D)</p> Signup and view all the answers

<p>The process of dividing a larger market into smaller groups of consumers who have similar needs or characteristics (C)</p> Signup and view all the answers

<p>The primary benefit that a customer seeks when they purchase a product or service (C)</p> Signup and view all the answers

<p>The non-physical or intangible elements that enhance or augment the core product (B)</p> Signup and view all the answers

<p>To understand the different layers of value that customers are seeking when they purchase a product or service (A)</p> Signup and view all the answers

<p>Developing products and marketing messages tailored to the specific needs and preferences of each customer (D)</p> Signup and view all the answers

<p>To target customers in a specific geographic area (C)</p> Signup and view all the answers

<p>To identify and select a target market based on demographic and behavioral data (B)</p> Signup and view all the answers

<p>Local marketing involves targeting customers in a specific geographic area, while individual marketing involves targeting individual customers with highly personalized products and marketing messages (A)</p> Signup and view all the answers

<p>Target audience, market category, unique selling proposition, and competitive differentiation (D)</p> Signup and view all the answers

<p>To communicate the unique value that a product or service provides to its target audience (B)</p> Signup and view all the answers

<p>Consistently using company colors and messaging across marketing materials (D)</p> Signup and view all the answers

<p>A value proposition communicates the unique value that a product or service provides to its target audience, while a positioning statement describes how a brand or product is positioned in the marketplace relative to its competitors. (C)</p> Signup and view all the answers

<p>To identify a small but profitable segment of the market and develop products and marketing messages tailored to their needs (A)</p> Signup and view all the answers

<p>Niche marketing involves targeting a very narrow and specific segment of the market, while micromarketing involves targeting a very specific audience with customized messages and content (D)</p> Signup and view all the answers

<p>A company that produces and sells organic baby food using a niche marketing approach (D)</p> Signup and view all the answers

<p>The actual product refers to the tangible product or service that a customer receives, while the augmented product refers to the additional features and benefits that are added to the actual product to enhance its value and appeal to customers. (B)</p> Signup and view all the answers

<p>To identify distinct customer groups with unique needs and preferences, and tailor the positioning strategy accordingly. (D)</p> Signup and view all the answers

<p>To monitor the activities of competitors, including their pricing, product features, and marketing campaigns. (B)</p> Signup and view all the answers

<p>It helps reinforce the chosen position. (D)</p> Signup and view all the answers

<p>To identify and highlight the key features, benefits, and attributes of a product or brand that sets it apart from the competition (B)</p> Signup and view all the answers

<p>To identify where a brand or product stands in relation to its competitors in terms of the attributes that consumers value (D)</p> Signup and view all the answers

<p>A marketing statement that describes the unique benefits or value that a product or service provides to its customers (A)</p> Signup and view all the answers

<p>To make informed decisions about target market identification and selection (D)</p> Signup and view all the answers

<p>Shopping goods require more effort in the purchase decision than convenience goods (D)</p> Signup and view all the answers

<p>Funeral services (B)</p> Signup and view all the answers

<p>Uniqueness and quality (B)</p> Signup and view all the answers

<p>A virtual try-on feature for clothing (D)</p> Signup and view all the answers

<p>Products that are unique or rare and often of high quality (D)</p> Signup and view all the answers

<p>Services that are unique or specialized and often require a high level of expertise or skill (D)</p> Signup and view all the answers

<p>Products that consumers are not actively seeking to purchase (A)</p> Signup and view all the answers

<p>Grocery stores, convenience stores, and gas stations (B)</p> Signup and view all the answers

<p>Speed, ease of use, and accessibility (D)</p> Signup and view all the answers

<p>Products that consumers purchase less frequently than convenience goods, but still require some degree of comparison and evaluation before making a purchase (D)</p> Signup and view all the answers

<p>They can differentiate themselves from their competitors and establish a strong brand identity (B)</p> Signup and view all the answers

<p>All of the above (A)</p> Signup and view all the answers

<p>Speed and durability (D)</p> Signup and view all the answers

<p>Developing new goods or services, improving existing offerings, or discontinuing goods or services that are no longer viable (A)</p> Signup and view all the answers

<p>Developing financial models to evaluate potential returns (A)</p> Signup and view all the answers

<p>Rent (A)</p> Signup and view all the answers

<p>Maximizing customer satisfaction (A)</p> Signup and view all the answers

<p>To manage costs and maximize the value of the company's expenditures (D)</p> Signup and view all the answers

<p>Unsought goods are not marketed, while unsought services are marketed to generate interest and demand (A)</p> Signup and view all the answers

<p>Pest control, home security, and legal services (C)</p> Signup and view all the answers

<p>Generating awareness and interest in the service (A)</p> Signup and view all the answers

<p>Production items are used to create finished products, while capital goods enable business operations (A)</p> Signup and view all the answers

<p>Influencing the design and style of the product (A)</p> Signup and view all the answers

<p>They can influence a customer's perception of the product (A)</p> Signup and view all the answers

<p>To differentiate the product from its competitors (C)</p> Signup and view all the answers

<p>To gather feedback from potential customers and refine the concept (D)</p> Signup and view all the answers

<p>Target market and pricing strategy (B)</p> Signup and view all the answers

<p>To identify potential problems with the product or service idea before launch (D)</p> Signup and view all the answers

<p>The number of different product categories that a company sells (B)</p> Signup and view all the answers

<p>Identifying a need or a problem that exists in the market (B)</p> Signup and view all the answers

<p>To determine the product's acceptance in the market (D)</p> Signup and view all the answers

<p>To determine the product's acceptance in the market (C)</p> Signup and view all the answers

<p>To provide information about the product (D)</p> Signup and view all the answers

<p>To create a lasting impression on the consumer's mind (D)</p> Signup and view all the answers

<p>The resources that a company provides to its customers to help them use, maintain, and troubleshoot their products (A)</p> Signup and view all the answers

<p>Product line decisions involve determining which products to offer within a product line, while product mix decisions involve determining which product lines to offer (A)</p> Signup and view all the answers

<p>To evaluate and filter potential new product or service ideas (A)</p> Signup and view all the answers

<p>Idea generation is a technique used by companies to engage with their customers and obtain ideas or feedback, while crowdsourcing is the process of obtaining ideas, services, or content from a large group of people (D)</p> Signup and view all the answers

<p>To refine and evaluate new product or service ideas before they are launched in the marketplace (C)</p> Signup and view all the answers

<p>To ensure the success of the product in the long run by continuously improving it to keep up with changing market trends and customer needs (B)</p> Signup and view all the answers

<p>To identify opportunities for growth and determine the viability of a new product or service idea (C)</p> Signup and view all the answers

<p>To create a working model or sample of a product in development (B)</p> Signup and view all the answers

<p>A comprehensive review of the current business environment (A)</p> Signup and view all the answers

<p>To describe the stages a product goes through from development to withdrawal (A)</p> Signup and view all the answers

<p>To build awareness about the product and establish a customer base (D)</p> Signup and view all the answers

<p>The Growth Stage (B)</p> Signup and view all the answers

<p>A plateau in sales volume as the product reaches its maximum level of market penetration and saturation (C)</p> Signup and view all the answers

<p>To determine the market potential of a product (A)</p> Signup and view all the answers

<p>All of the above (C)</p> Signup and view all the answers

<p>The process of creating a physical or digital model of the product that closely resembles the final product (B)</p> Signup and view all the answers

<p>To generate sales revenue (D)</p> Signup and view all the answers

<p>Forecasting employee turnover (C)</p> Signup and view all the answers

<p>Seeking input from stakeholders throughout the development process (A)</p> Signup and view all the answers

<p>Creating sustainable products that reduce waste (A)</p> Signup and view all the answers

<p>Identifying gaps in the market (D)</p> Signup and view all the answers

<p>Branding (D)</p> Signup and view all the answers

<p>National brands are more focused on the specific needs and preferences of consumers within a particular country, while international brands have a standardized approach to marketing and branding. (A)</p> Signup and view all the answers

<p>To ensure their brand remains relevant and appealing to consumers in different markets. (D)</p> Signup and view all the answers

<p>A name, term, design, symbol, or other feature that identifies a product, service, or company and distinguishes it from its competitors. (D)</p> Signup and view all the answers

<p>Maturity Stage (D)</p> Signup and view all the answers

<p>A significant decrease in sales volume as the product loses its appeal to customers and becomes outdated or replaced by newer products (B)</p> Signup and view all the answers

<p>The potential impact on local communities, workers, and consumers (C)</p> Signup and view all the answers

<p>Whether to discontinue the product, reduce its price, or try to revitalize it through product improvements or new marketing strategies (C)</p> Signup and view all the answers

<p>It may not take into account the perceived value of the product or service (B)</p> Signup and view all the answers

<p>It may not take into account the perceived value of the product or service (D)</p> Signup and view all the answers

<p>It may result in a price war with competitors (B)</p> Signup and view all the answers

<p>To cover production costs and generate profit (A)</p> Signup and view all the answers

<p>To remain competitive (D)</p> Signup and view all the answers

<p>Customer-Value Based Pricing (A)</p> Signup and view all the answers

<p>To remain competitive in the market (D)</p> Signup and view all the answers

<p>Reduced risk of introducing a new brand (A)</p> Signup and view all the answers

<p>A strategy where a company markets and sells multiple brands within the same product category (C)</p> Signup and view all the answers

<p>To maintain the perceived value of the product or service (B)</p> Signup and view all the answers

<p>Different brands cannibalizing each other's sales (C)</p> Signup and view all the answers

<p>A brand that is created and sold by a specific retailer (A)</p> Signup and view all the answers

<p>Increased profit margins for retailers and a more affordable alternative for consumers (A)</p> Signup and view all the answers

<p>Consumers may view them as lower quality or less desirable than national brands (D)</p> Signup and view all the answers

<p>Line extension involves introducing new products under an existing brand name, while brand extension involves using an existing brand to introduce new products in a different category. (B)</p> Signup and view all the answers

<p>Conduct market research, develop a clear brand messaging, use a consistent visual identity, ensure that the quality of the new products matches the existing products, launch the new products, and monitor customer feedback. (A)</p> Signup and view all the answers

<p>A strategic partnership in which two or more brands work together to create a unique product or service that combines the strengths of each brand. (B)</p> Signup and view all the answers

<p>A group of related products that are sold under the same brand name. (C)</p> Signup and view all the answers

<p>The added value that a strong brand can bring to a company's bottom line; it represents factors such as brand awareness, customer loyalty, and positive associations (C)</p> Signup and view all the answers

<p>The amount of money a brand is worth based on its perceived value to consumers, its market position, and its potential for future growth; it helps companies evaluate the financial impact of their branding efforts (B)</p> Signup and view all the answers

<p>The process of allowing another company to use a brand's name, logo, or other intellectual property in exchange for a fee or royalty (C)</p> Signup and view all the answers

<p>A collaborative marketing strategy in which two or more brands team up to promote a product or service (B)</p> Signup and view all the answers

<p>Building brand recognition (C)</p> Signup and view all the answers

<p>Products with high potential for volume sales (C)</p> Signup and view all the answers

<p>Low profit margins (B)</p> Signup and view all the answers

<p>Good-Value Pricing offers lower prices for the same quality, while Value-Added Pricing adds value through additional features and charges a premium price (A)</p> Signup and view all the answers

<p>Rent, salaries, insurance, property taxes, and depreciation of equipment (B)</p> Signup and view all the answers

<p>Expenses that are directly tied to the production or sale of a product or service and vary with the level of production or sales (D)</p> Signup and view all the answers

<p>Skimming pricing (A)</p> Signup and view all the answers

<p>Target cost (C)</p> Signup and view all the answers

<p>Penetration pricing (A)</p> Signup and view all the answers

<p>Determine the target selling price (C)</p> Signup and view all the answers

<p>A pricing strategy that sets the price of a product at a level that covers all of the costs associated with producing and selling the product, without generating any profit (C)</p> Signup and view all the answers

<p>A financial analysis that helps a company determine the level of sales needed to cover all of its costs and break even (D)</p> Signup and view all the answers

<p>A pricing strategy that sets the price of a product at a level that allows a company to achieve a specific level of profit (D)</p> Signup and view all the answers

<p>Fixed costs ÷ (Selling price - Variable costs) (B)</p> Signup and view all the answers

<p>Variable costs increase as production or sales increase and decrease as production or sales decrease, while fixed costs are expenses that do not change with the level of production or sales (A)</p> Signup and view all the answers

<p>Direct costs increase as production or sales increase and decrease as production or sales decrease, while overhead costs are expenses that do not change with the level of production or sales (A)</p> Signup and view all the answers

<p>A concept that suggests that the more a company produces of a particular product or service, the more efficient it becomes at producing it (D)</p> Signup and view all the answers

<p>A pricing strategy that sets the price of a product by adding a fixed percentage markup on top of the cost of producing or acquiring the product (A)</p> Signup and view all the answers

<p>To have more control over the distribution process. (D)</p> Signup and view all the answers

<p>Selling products through door-to-door sales. (C)</p> Signup and view all the answers

<p>Less control over pricing, product positioning, and customer relationships. (A)</p> Signup and view all the answers

<p>A pricing strategy where the price of a product is the same for all customers regardless of their location (A)</p> Signup and view all the answers

<p>A pricing strategy where the price of a product is based on the location of the buyer (D)</p> Signup and view all the answers

<p>A pricing strategy where the price of a product is based on the cost of production (B)</p> Signup and view all the answers

<p>To ensure that the right products or services are available in the right place and at the right time to meet customer demand (A)</p> Signup and view all the answers

<p>Direct channels sell products or services directly to customers without intermediaries, while indirect channels involve intermediaries like wholesalers or retailers (D)</p> Signup and view all the answers

<p>To identify trends, customer preferences, and buyer behavior (B)</p> Signup and view all the answers

<p>To get products or services to customers in the most efficient and effective way possible (B)</p> Signup and view all the answers

<p>A geographical pricing strategy where the seller absorbs all or part of the shipping costs, and the price of the product is the same regardless of the buyer's location (A)</p> Signup and view all the answers

<p>A price adjustment strategy where the price of a product or service is tailored to an individual customer's characteristics (A)</p> Signup and view all the answers

<p>Environmental impact, social impact, and ethical implications (B)</p> Signup and view all the answers

<p>To change the price of a product or service in real-time based on market demand (A)</p> Signup and view all the answers

<p>Direct channels sell directly to the end customer, while indirect channels involve intermediaries between the manufacturer and the end customer. (B)</p> Signup and view all the answers

<p>An organization involved in the process of delivering a product or service from the manufacturer to the end customer. (B)</p> Signup and view all the answers

<p>A coordinated distribution network that involves different levels of the supply chain, such as manufacturers, wholesalers, and retailers. (D)</p> Signup and view all the answers

<p>A type of distribution channel that involves using both direct and indirect channels to reach different customer segments. (B)</p> Signup and view all the answers

<p>Marketing (C)</p> Signup and view all the answers

<p>To efficiently and effectively deliver goods or services to customers (B)</p> Signup and view all the answers

<p>Manufacturer (D)</p> Signup and view all the answers

<p>A store that sells discounted brand name products purchased directly from manufacturers (C)</p> Signup and view all the answers

<p>Factory outlets sell overstocked or discontinued items, while warehouse clubs do not (D)</p> Signup and view all the answers

<p>A group of stores owned and operated by the same company, offering uniform goods and services across locations (B)</p> Signup and view all the answers

<p>Retailers help suppliers by ordering products in a timely manner and managing their stock levels effectively. (D)</p> Signup and view all the answers

<p>Department stores offer a wide range of products across multiple categories, while specialty stores focus on selling a specific category of products or serving a specific niche market. (D)</p> Signup and view all the answers

<p>Superstores offer a wide range of products, while discount stores offer products at a reduced price compared to other retail stores. (D)</p> Signup and view all the answers

<p>Convenience stores primarily sell food and household items, while supermarkets offer a wide range of products. (D)</p> Signup and view all the answers

<p>A value delivery network emphasizes collaboration among all members of the network, while a traditional supply chain does not. (A)</p> Signup and view all the answers

<p>Retailers act as intermediaries between the manufacturer or producer of a product and the final consumer. (B)</p> Signup and view all the answers

<p>Convenience and customer service (B)</p> Signup and view all the answers

<p>To create value for the customer by delivering a product or service that meets their needs at a reasonable cost. (C)</p> Signup and view all the answers

<p>To act as a middleman between manufacturers and retailers (C)</p> Signup and view all the answers

<p>A wholesaler that provides only basic services such as storage and delivery (D)</p> Signup and view all the answers

<p>A wholesaler that requires customers to pay in cash and pick up their own products from the warehouse (D)</p> Signup and view all the answers

<p>To supply and maintain product displays in retail stores (A)</p> Signup and view all the answers

<p>Retailer cooperatives are a group of independent stores that unite to share resources, while voluntary retail chains share ownership and buying power. (A)</p> Signup and view all the answers

<p>Franchisees receive a recognized brand name and marketing strategies, which can help them attract customers more easily. (C)</p> Signup and view all the answers

<p>A company that grants the right to use its brand name, products, and services to another person or company. (C)</p> Signup and view all the answers

<p>A retail strategy that integrates multiple channels to provide customers with a seamless shopping experience (D)</p> Signup and view all the answers

<p>A complex that houses multiple retail stores, restaurants, and entertainment venues (D)</p> Signup and view all the answers

<p>A retail strategy that involves reducing a retailer's environmental footprint through sustainable practices (C)</p> Signup and view all the answers

<p>Supporting local businesses, contributing to local charities, and engaging in community events (C)</p> Signup and view all the answers

<p>Web Wholesalers sell products exclusively online, while Mail-Order Wholesalers sell through catalogs and websites (D)</p> Signup and view all the answers

<p>To act as an intermediary between a buyer and a seller, negotiating terms, prices, and other details of the sale (C)</p> Signup and view all the answers

<p>To represent a product or service on behalf of another company, promoting and selling the product or service to potential customers (B)</p> Signup and view all the answers

<p>A Manufacturer's Agent represents multiple manufacturers and sells their products to customers, while a Selling Agent negotiates terms of the transaction (A)</p> Signup and view all the answers

<p>To negotiate with suppliers to get the best deal for their company (C)</p> Signup and view all the answers

<p>To reach customers in different geographic locations and promote and sell the wholesaler's products to retailers and other customers (A)</p> Signup and view all the answers

<p>A commission merchant buys and sells goods on behalf of others, while a broker/agent is more involved in the physical transaction of goods (C)</p> Signup and view all the answers

<p>To negotiate prices and terms with manufacturers or suppliers (D)</p> Signup and view all the answers

<p>Horizontal conflict is competition between members at the same level of a company's distribution channel, while vertical conflict is competition between members at different levels of the distribution channel. (D)</p> Signup and view all the answers

<p>Providing market information (C)</p> Signup and view all the answers

<p>To source fabrics and clothing items directly from manufacturers and potentially negotiate better prices (C)</p> Signup and view all the answers

<p>When members at the same level of the distribution chain compete for customers in the same geographic area or market segment (D)</p> Signup and view all the answers

<p>When members at different levels of the distribution chain disagree on how to distribute and promote products (C)</p> Signup and view all the answers

<p>Disruptions in the supply chain, damaged relationships with channel partners, and alienated customers (C)</p> Signup and view all the answers

<p>Disruptions in the supply chain, damaged relationships with channel partners, and alienated customers (B)</p> Signup and view all the answers

<p>A vertical marketing system where a single company owns or controls all levels of the distribution channel (A)</p> Signup and view all the answers

<p>A distribution channel where the members are legally bound to cooperate with each other (B)</p> Signup and view all the answers

<p>A type of marketing arrangement where two or more companies at the same level of the distribution chain come together (C)</p> Signup and view all the answers

<p>When a company uses multiple channels to distribute its goods or services to customers (D)</p> Signup and view all the answers

<p>Social media marketing (C)</p> Signup and view all the answers

<p>All of the above (A)</p> Signup and view all the answers

<p>Real-time insights into logistics operations (C)</p> Signup and view all the answers

<p>Automation of logistics processes (C)</p> Signup and view all the answers

<p>The process of removing intermediaries between producers and consumers of goods or services (B)</p> Signup and view all the answers

<p>It allows producers to sell directly to consumers (A)</p> Signup and view all the answers

<p>Analyze consumer needs, set channel objectives, identify alternatives, evaluate distribution channels (C)</p> Signup and view all the answers

<p>To reduce negative impacts on the environment and society (D)</p> Signup and view all the answers

<p>To ensure that products are available to customers when they need them (A)</p> Signup and view all the answers

<p>The process of tracking and managing the levels of products or goods held in stock by a company (A)</p> Signup and view all the answers

<p>To ensure that there is enough stock available to meet unexpected fluctuations in demand (C)</p> Signup and view all the answers

<p>Coordinating the movement of products from manufacturer to customer (D)</p> Signup and view all the answers

<p>To manage a company's warehousing, transportation, and inventory management needs (B)</p> Signup and view all the answers

<p>Using more fuel-efficient vehicles (D)</p> Signup and view all the answers

<p>To prevent labor exploitation and human rights abuses (B)</p> Signup and view all the answers

<p>Pipelines (B)</p> Signup and view all the answers

<p>Air carriers (A)</p> Signup and view all the answers

<p>It offers a wider range of shipping options (D)</p> Signup and view all the answers

<p>Collaborating internally and externally to manage all aspects of the supply chain (A)</p> Signup and view all the answers

<p>Physical distribution (B)</p> Signup and view all the answers

<p>Supply Chain Management (C)</p> Signup and view all the answers

<p>Sustainable supply chain management (C)</p> Signup and view all the answers

<p>To monitor performance and adherence to policies and procedures (A)</p> Signup and view all the answers

<p>Age of the sender (A)</p> Signup and view all the answers

<p>To establish the brand as an authority in its industry (D)</p> Signup and view all the answers

<p>Personalized marketing approaches use targeted channels and data analysis to create more relevant and engaging content (C)</p> Signup and view all the answers

<p>To provide a reaction or response to the sender, which helps gauge the effectiveness of their message (A)</p> Signup and view all the answers

<p>Social media messaging (A)</p> Signup and view all the answers

<p>Personal communication channels allow for direct interaction between a brand and an individual, while non-personal communication channels do not (A)</p> Signup and view all the answers

<p>The sharing of information and recommendations about products or services by consumers through electronic media (D)</p> Signup and view all the answers

<p>Encoding (B)</p> Signup and view all the answers

<p>Feedback (A)</p> Signup and view all the answers

<p>Noise (C)</p> Signup and view all the answers

<p>Paying influencers to promote the product on their channels (D)</p> Signup and view all the answers

<p>Consumer-facing products with a low price point (C)</p> Signup and view all the answers

<p>The campaign may not align with the brand's values and messaging (A)</p> Signup and view all the answers

<p>To persuade retailers, wholesalers, and distributors to stock and sell the product (B)</p> Signup and view all the answers

<p>To deliver a clear and consistent message to the target audience through various marketing channels (A)</p> Signup and view all the answers

<p>The promotion mix (B)</p> Signup and view all the answers

<p>A type of marketing that involves using various channels to reach potential customers (D)</p> Signup and view all the answers

<p>Direct-Response Television Marketing (D)</p> Signup and view all the answers

<p>Direct mail marketing involves sending physical mail, while telemarketing involves making phone calls (A)</p> Signup and view all the answers

<p>They don't need to rely on intermediaries like retailers or wholesalers (D)</p> Signup and view all the answers

<p>The practice of creating content or advertising campaigns that are designed to respond to current events or trends in real-time (C)</p> Signup and view all the answers

<p>Television commercials (A)</p> Signup and view all the answers

<p>To build brand awareness (B)</p> Signup and view all the answers

<p>They can effectively grab the attention of the audience and communicate the brand's message in a dynamic and engaging way (C)</p> Signup and view all the answers

<p>To establish the brand as a thought leader (C)</p> Signup and view all the answers

<p>To spread information or content quickly and widely (C)</p> Signup and view all the answers

<p>A marketing strategy that involves face-to-face communication between a salesperson and a potential customer (B)</p> Signup and view all the answers

<p>A group of salespeople who travel to meet with potential customers in person to sell a company's goods or services (D)</p> Signup and view all the answers

<p>Inside salespeople work from a centralized location, while field sales representatives work from multiple locations (D)</p> Signup and view all the answers

<p>A sales force structure where salespeople are assigned to specific geographic regions or territories and are responsible for selling the company's goods or services within that area (C)</p> Signup and view all the answers

<p>Retail, pharmaceuticals, and consumer goods (B)</p> Signup and view all the answers