Marketing 3213 Exam 2 Study Guide PDF

MKTG 3213 – Exam 2 Study Guide 1. What are the two functions of a brand? a. identify and differentiate b. locate and determine c. market and recruit d. compete and improve 2. What are the two parts that make up a brand? a. Brand Label and Brand Price b. Brand Product and Brand Na...

MKTG 3213 – Exam 2 Study Guide 1. What are the two functions of a brand? a. identify and differentiate b. locate and determine c. market and recruit d. compete and improve 2. What are the two parts that make up a brand? a. Brand Label and Brand Price b. Brand Product and Brand Name c. Brand Price and Brand Issue d. Brand Name and Brand Mark 3. Seeing a brand can cause consumers to automatically think of the attributes of the firm. a. True b. False 4. A "brand" is confined to the physical name or logo associated with the firm. a. True b. False 5. The primary value of a brand for consumers is the: a. Reduction of perceived risk b. Association with target groups c. Ability to compare prices d. Definition of corporate social responsibility 6. The brand resides in the consumer’s: a. Conversations b. Peer group c. Desired associations d. Memory 7. What is Spreading Activation? a. When nodes are energized and brought into working memory b. The creation of new nodes c. When consumers spread brand knowledge through conversation d. An external cue 8. When does activation occur? a. With only external cues b. With either external or internal cues c. With only internal cues d. With social media-based marketing 9. Addi is driving from Stillwater to Dallas, and sees a McDonald’s sign with golden arches (but no words). She automatically begins to think of her hunger. What kind of cue activated this thought. a. Internal cue b. Coercive cue c. External cue d. Detrimental cue 10. Brand awareness is associated with the ability of the brand to ______ who is offering a product or service, while brand association is associated with the ability of the brand to ______ from competitors. a. Identify; differentiate b. Differentiate; identify c. Respond; attack d. Separate; connect 11. Which of these is not a type of brand association? a. Brand memories b. Brand attributes c. Brand benefits d. Brand attitudes 12. Automaticity in branding context means: a. Initial evaluation of a brand is made automatic and efficient b. A consumer’s conscious decision to memorize aspects of a brand c. The automatic reaction of consumers to a brand they have never encountered d. The evaluation of a brand is brought to either conscious or subconscious thought 13. A way of visually presenting where your brand is in consumer’s minds is called a: a. Brand attribute b. Brand association c. Brand recognition d. Brand map 14. Brand associations within a brand map can also have ____ attached to them. a. Price b. Mood and emotion c. Organization d. Affiliation 15. A brand map determines brand associations from the perspective of the: a. Consumer b. Competitor c. Management d. Board of Directors 16. When creating a brand map, a word cloud is always more useful than a table. a. True b. False 17. The added value delivered by the brand over the functional benefits or book value is called: a. Brand evaluation b. Brand recognition c. Brand equity d. Brand interest 18. Book value of assets + Brand equity = a. Price of brand b. Consumer share of brand c. Market share in industry d. Market value of brand 19. Brand equity starts as a _____ concept, but ends up having a real ____ effect a. Psychological; monetary b. Monetary; psychological c. Potential; realized d. Inconclusive; meditated 20. The “magic lesson” teaches us how to turn what into dollars? a. What consumers know about the brand b. How competitors adjust in response to the brand c. Negative reputation of the brand or firm d. The price of bestselling products 21. Which of these is not a way to turn brand equity into dollar value? a. Word of mouth b. Price competition c. Brand Extension d. Licensing 22. If Oreo cookies come out with a new flavor of s’mores Oreo cookies, what are they using in order to turn brand equity into dollars? a. Word of mouth b. Licensing c. Promotional Advantage d. Product purchase 23. The example of the purchase of the PanAm brand demonstrates how: a. Brands are worthless assets as collateral b. Brands can have value beyond the book value of the firm c. Promotional advertising can save a business  d. Brands are unable to expand past their original industries 24. An agreement whereby a company permits another organization to use its brand on other products for a fee is defined as: a. Joint venture b. Brand Addition c. Franchising d. Brand licensing 25. The brand name must provide ______ meaning for the product. a. Primary b. Secondary c. Tertiary d. Institutional 26. Which of these is not a branding strategy? a. Franchise Branding b. Individual Branding c. Institutional Branding d. Sub-branding 27. Unilever houses many brands, such as SlimFast nutrition drinks, Dove soap, and Skippy peanut butter, that all sell different products. What branding strategy is used here? a. Individual Branding b. Institutional Branding c. Sub-branding d. Umbrella branding 28. Which of these is not a benefit of individual branding? a. Development of additional brand assets b. Protection against negative spillover effects c. Strong connections to established brands for new brands to lean on d. Strategic degrees of freedom 29. Which of these is not a benefit of institutional branding? a. Marketing power in the marketplace b. Lower promotional costs c. Greater individualized identity for new products d. Enhancement of positive spillover 30. Which of these companies is more likely to use an institutional branding strategy for a new product or service? a. Sony b. Procter & Gamble c. ServiceMaster d. Nestle 31. Which of these is not a benefit of sub-branding? a. Increased market share b. Marketing power and promotional advantages of the institutional brand c. New brand asset development, similar to individual brand d. Market flexibility 32. What is the main advantage of using a sub-branding strategy? a. Ability to take on the advantages of individual and institutional branding b. Ability to avoid the disadvantages of the individual and institutional branding c. General flexibility d. All of the above 33. Mostly, business is made up of: a. Huge, multimillion dollar transactions b. Competitions with other firms c. Smaller, more frequent transactions d. Customer service orientations 34. Face to Face communication is necessary for the true “frontline” transactions. a. True b. False 35. Technology has had little impact on organizational frontlines in most industries. a. True b. False 36. Rachel goes to Walmart to buy groceries and checks out with a cashier. When Rachel hands her cash to the Walmart employee what kind of interaction has taken place? a. Traditional interactions b. Human customer, machine service provider c. Machine Summons d. Automated Service Delivery 37. When Mariah needs money, she goes to an ATM instead of driving to her bank. When Mariah utilizes this ATM that represents her home bank, what kind og interaction has taken place? a. Traditional interactions b. Machine Summons c. Automated Service Delivery d. Human customer, machine service provider 38. Which of these types of interactions is the only one where human interaction is absolutely necessary? a. Machine Summons b. Traditional Interactions  c. Automated Service Delivery d. Machine Service provider 39. The acronym LAURA helps us analyze and adjust when: a. A product or service has exceeded expectations of consumers b. A product or service has disappointed the consumer c. Employees have provided poor customer service d. Consumers are belligerent with frontline employees 40. What is the definition of retailing? a. Marketing goods and services for resale b. Selling goods and services to consumers for their own use c. Any form of sale with a price markup d. Selling goods and services to companies to use in running the company 41. What is the difference between retailing and wholesaling? a. Retailers sell to individuals for end use; wholesalers sell to companies for resale/company use b. Wholesalers sell to individuals for end use; retailers sell to companies for resale/company use c. Retailers are unable to mark up prices; wholesalers are free to do so d. Wholesalers are unable to mark up prices; retailers are free to do so 42. What is the difference between merchant and agent wholesalers? a. Merchants produce the product; agents sell it to consumers b. Agents take ownership to a product; merchants act as intermediaries c. Merchants take ownership to a product; agents act as intermediaries d. Agents produce the product; merchants sell it to consumers 43. Why do retailers exist? a. They add value by adjusting discrepancies between the needs of consumers and sellers b. They add value by increasing discrepancies between the needs of consumers and sellers c. They do not add value but do add convenience d. People always buy more from retailers than they do directly from producers 44. Why is breaking bulk important? a. Sellers dislike producing in bulk, but consumers want large amounts b. Breaking bulk is unnecessary c. Breaking bulk is inconvenient for the consumer, leading to impulse buys d. Sellers want to produce in bulk, consumers want to buy in small amounts 45. What is the reason for so many levels existing between the producer and end-user? a. Each level adds some kind of value to the end user b. Each level makes some degree of money  c. Convenience only d. Prices are lower across the board with a greater number of levels 46. When it comes to compensation in a channel of distribution, ____ plays the most important role. a. Replicability b. Power c. Relative importance d. Market share 47. Brands marketed as more luxury options (such as Lexus) are likely to utilize ____ distribution intensity. a. Intensive b. Broad coverage c. Selective d. Strategically placed 48. Which of these is not a form of sharing economy? a. B2P b. P2P c. B+P d. P2B 49. Air BnB uses a model where the business integrates people who own homes into the market where consumers express demand. This is most accurately described as which type of sharing economy? a. Business + Person b. Business to Person c. Peer to peer sharing d. Person to Business 50. What has been a problem of implementing Peer to Peer sharing? a. Finding platforms where it is legal and available b. Finding platforms where consumers express demand c. Determining products d. Determining companies who will invest 51. Of the sharing economy models, which is the most similar to traditional business models? a. Business + Person b. Business to person c. Peer to Peer d. Business to Business 52. What is the largest inhibitor to the growth of sharing economies? a. Trust b. Initial cost  c. Quality concerns d. Advertising 53. A platform that receives renting fees receives those fees from the ____ and shares those fees with the _____. a. Seeker; owner b. Owner; seeker c. Recommender; seeker d. Platform; owner 54. Which of these is not a party that shares and exchanges value in a sharing economy? a. Owner b. Seeker c. Platform d. Recommender 55. Which of these is not a potential benefit of increasing a sharing economy? a. Return economic benefits b. Reduce environmental and waste impact c. Reverse effects of eroding social trust d. Realize potential market gains 56. What jobs are the most likely to be automated? a. Those with a great deal of variety b. Those with a great deal of routine c. Those with lots of critical thinking d. Those with high-impact decision making 57. The degree to which an individual possesses an enduring belief in the importance of customer satisfaction is defined as: a. Business orientation b. Customer service c. Customer orientation d. Good management 58. Some people innately have more of a customer orientation than others. a. False b. True 59. It is often most important for which kind of employee to have a strong customer orientation? a. Front line b. Strategic c. Behind the scenes d. Managing 60. When a supervisor doesn’t emphasize the importance of customer satisfaction, employees with higher customer orientation: a. Perform fewer customer service behaviors than they might have b. Perform more customer service behaviors than they might have c. Perform a varies amount of customer service behaviors d. All supervisors surveyed emphasized the importance of customer satisfaction 61. When employees with high customer orientation are embedded in an organization that emphasizes (and benefits from) customer satisfaction, profits are likely to: a. Decrease b. Stay the same c. Increase d. Exponentially decrease 62. In most circumstances, higher levels of customer orientation lead to all of the following except: a. Job satisfaction b. Job turnover c. Organizational commitment d. Organizational citizenship 63. Employees with high customer orientation will thrive in what kind of job? a. Low customer interaction b. These employees can go to any job c. High customer interaction d. These employees always choose their own job 64. What are inside sales? a. A type of sales in which interactions are initiated by the buyer b. A type of sales in which interactions are initiated by the seller c. A type of sales in which inside departments sell to each other d. A type of sales in which companies within the same industry sell to each other 65. A type of selling in which the organization is represented by multiple people, which might include a salesperson a technical support specialist, or others, is defined as: a. Team selling b. Group sales c. Group work ideation d. Team account 66. What is a key account? a. A very large customer that provides a significant portion of revenues b. An account that links the company to other accounts c. The account a company holds with a minor supplier d. A small customer that provides an average amount of revenues 67. A form of personal selling that focuses on making an immediate sale with little or no concern for customer satisfaction or relationship development is defined as: a. Relationship selling b. Telemarketing c. Transactional selling d. Innovative selling 68. Transactional selling focuses on the customer relationship. a. False b. True 69. A form of personal selling that involves securing, developing, and maintaining long-term relationships with profitable customers is defined as: a. Transactional selling b. Business to business selling c. Relationship selling d. Personality-based marketing 70. Which of these is not a step in the personal selling process? a. Prospecting b. Approach c. Sell d. Presentation 71. When does initial contact with the potential consumer occur? a. Approach b. Pre-approach c. Presentation d. Introduction 72. What happens in the Presentation stage of the personal selling process? a. Determine prospect needs and present benefits; handle objections b. Establish initial contact c. Ask for financial commitment d. Present customer service evaluations 73. SPIN selling is about asking questions of potential customers, a. True b. False 74. What is the point of SPIN selling? a. Push a sale through at all costs b. Educate the customer on the features of your product c. Sell your product to an entire industry d. Position your product or service as the solution to the customer’s problems connections to established brands for new brands to lean on 75. The most successful salespeople focus on the beginning aspects of the SPIN method (e.g. Situational and Problem questions). a. True b. False 76. What is the definition of price? a. What is exchanged for the product, service, or idea b. What is provided as a good or service c. The treasury-backed ultimate value of a product d. The combination of values for all raw values 77. _____ is not about what we put into our product, it’s what our customers get out of it. a. Price b. Marketing c. Evaluation d. Value 78. The value created of a product or service is determined from the perspective of the: a. Strong connections to established brands for new brands to lean on b. Employer c. Competition d. Stockholders 79. Small changes in price do not have a very large impact on bottom line profits. a. True b. False 80. Which of these does not happen in a “smart industry”? a. Companies fight with price only b. More complex pricing c. Greater subtlety of pricing options d. Greater use of techniques from other fields 81. What is the first step in strategic pricing? a. Knowing the price of your competitors b. Financing large projects c. Knowing how your industry behaves d. Increasing the market budget 82. What is the key difference between cost-based pricing and value-based pricing? a. How you value each layer of business b. Where you start the process c. Weight placed on customer service d. Focus on quantity vs focus on the quality 83. Value based pricing will always be more profitable than cost-based pricing. a. True b. False 84. What is price skimming? a. Setting a high price for a new product to skim maximum revenues b. Setting a low price to penetrate the market c. Reintroducing an old product at a different price d. Offering customization at a price premium 85. What is dynamic pricing? a. Variable rate for each customer b. Standard, flat rate for each customer c. Price determined from bargaining d. Price set to change with stock prices 86. What is flat-rate pricing? a. Different rate for each customer b. Price set to fluctuate with treasury bonds c. Setting a low rate to penetrate the market d. Single rate per time period 87. Which of the following describes peak load or congestion pricing? a. Charging the peak industry price at all times b. Variable price based on region or county c. Price assembled as you add options d. Variable rate depending on time of day or week 88. You do not need to understand margin and markup if you are using value-based pricing. a. True b. False 89. What is the main difference between the equations for margin and mark-up? a. Margin is (Price – Cost)/Price and Markup is (Price – Cost)/Cost b. Margin is (Price – Cost)/Cost and Markup is (Price – Cost)/Price c. There is no difference, they are synonyms d. Margin is (Price – Competition)/Price and Mark-up is Price – Competition 90. Mark-up can be greater than 100% a. True b. False 91. A grocer has purchased a truckload of frozen dinners for $3 each. The grocer operates on a margin of 30% for frozen food items. What is the retail price to the consumer? a. $3.35 b. $4.29  c. $2.60 d. $5.78 92. The competitive retail price for a stereo system is $300. Retail stores normally have a margin of 30% for such items. Wholesalers normally have a margin of 20% for such items. The manufacturer’s price is unknown. What steps should be taken to determine the manufacturer’s highest price? a. Solve for Retail price, then Wholesale price, then Manufacturer price b. Sole for Wholesale price, then Manufacturer price, then Retail price c. Solve for Retail Price, then Manufacturer price, then Wholesale price d. Solve for Manufacturer price, then Wholesale price, then Retail price 93. What is the breakeven point? a. Where fixed costs only are covered b. Where variable costs only are covered c. Where profits just cover costs d. The most desirable point for profits 94. Assume that Netflix has introduced a new bundle service for their streaming services. Bundle 1 includes a base price of $9 to cover 25 hours of streaming for the month and variable price of $0.10 for every 30 minutes over that 25 hours. Bundle 2 includes no base price, but a variable price of $0.25 for every 30 minutes of streaming per month. When a consumer attempts to decide which bundle to use, what is he or she determining? a. Breakeven point b. Value of the brand c. Effectiveness of bundling d. Price elasticity 95. What is defined as responsiveness of demand to changes in price? a. Price variation b. Demand sensitivity c. Price elasticity d. Cost benefit 96. A change in price in an elastic market is likely to show ____ change in demand when compared to a similar change in an inelastic market. a. Greater b. Smaller c. Variable d. Equal 97. In the Transactional Model of Communication, who fulfills the role of the Sender? a. Market b. Consumer c. Market forecast d. Retailers 98. The message put in place by the Sender is always identical to the message received by the Receiver. a. True b. False 99. The Communications Triangle encompasses more than just promotional interactions. a. True b. False 100. The “company” in the Communications Triangle represents the: a. Formal company management b. Frontline employees c. Customers d. Company reputation 101. What is defined as frontline interactions in the Communications Triangle? a. Internal Communication b. External Communication c. Realistic Communication d. Interactive Communication 102. What is defined as the communications between the company and its customers? a. Internal promotion b. Interactive communication c. Active advertising d. External promotion 103. What is the definition of Advertising? a. A form of internal promotion with customers, paid for by the seller b. A form of external promotion with sellers, paid for by the consumer c. A form of external promotion with customers, paid for by the seller d. A form of internal promotion with employees, paid for by the seller 104. The immediate goal of all advertising is to make exchange happen. a. True b. False 105. The goal of “remind and reinforce” applies to advertisements aimed at: a. Current customers b. Future customers c. Any customers 106. Advertising is best thought of as a(n): a. Investment b. Immediate payoff  c. Dividend d. ROI 107. In advertising, a marketing professional should know both her ____ and her ____. a. Competitors; budget b. Message; audience c. Stock prices; audience d. Message; retailers 108. Which of these is not one of the Three C’s in communication? a. Clear b. Concise c. Committed d. Consistent 109. A company is looking to implement its new advertisement that is targeted specifically towards consumers 65 and older. Which communication channel would most effectively reach the intended audience? a. Instagram b. TV commercials c. Twitter d. Snapchat 110. Why is telling stories such an impactful way to advertise? a. People are drawn into stories b. Consumers are irritated with failure c. Storytellers inevitably fail d. Consumers become bored with stories quickly 111. Which aspect of the SUCCESS model is more common in the United States than in other countries? a. Simple b. Credible c. Concrete d. Emotion 112. A nonprofit that provides education for undeserved communities is looking to run a new promotion. The company is deciding to either provide several statistics or a single, personal story from a student relying on funds. Out of the following, which part of the SUCCESS model would the personal story best encompass? a. Simplicity b. Credibility c. Unexpected d. Emotion 113. When the company first started, Southwest’s message in the advertisements and managerial actions clearly communicated its commitment to low prices. What is this the best example of? a. Simplicity b. Unexpectedness c. Concreteness d. Emotion 114. Why is simplicity important for breaking through promotional clutter? a. Mail in rebate b. Your message is clearest when its simple c. Complex messages draw consumers in d. Messages seen as too simple are ignored by consumers 115. What is a sales promotion? a. Short term external promotion tactic designed to influence immediate purchase b. Long term external promotion tactic designed to influence future purchase c. A synonym for advertising d. Price cuts only 116. What is the goal of a sales promotion? a. Increase likelihood of later purchase b. Increase market share c. Convincing consumers to “act now” d. Clear inventory 117. What is the main difference between advertisements and sales promotions? a. Methods: using frontline employees or management b. Goal: of long term or immediate payoff c. Methods: print or technology-based d. Goal: of increasing sales or decreasing necessary employees 118. In its simplest form, a Price Promotion is known as a(n): a. Advertisement b. Rebate c. Gift d. Sale 119. Black Friday is best described as an example of: a. Price promotion b. Public Relations Strategy c. Advertising strategy d. Competitive advantage 120. What is the best example of a Frequent User Program? a. Southwest credit card  b. Mail in Rebate c. Black Friday sale d. Buy one get one free 121. It is easier to determine the effectiveness of sales promotions than advertisements. a. False b. True 122. Which of these is not an advantage of sales promotions? a. Sales promotions have long term effects b. Balance demand against capacity c. Effectiveness measured directly d. Reduce risk of initial trial 123. What is the definition of Public Relations? a. Forms of external promotion through channels perceived to be noncommercial b. Forms of internal promotion through any and all channels c. Form of external promotion d. The lease effective commercial strategy 124. What is puffery? a. Inflating negative expectations b. The idea that most ads tell only the best case scenario c. Exaggerating reports of the number of consumers d. Inflation of price during peak business hours 125. Public relations are generally believed more so than advertisements. a. True b. False 126. Companies who are recruiting new employees often ask to come to college campuses and speak in classes. What type of public relations tool is this most like? a. Press kits/releases b. Speaking engagements c. Philanthropy d. Event sponsorship 127. In the Communications Triangle model, which type of interaction is modeled by a double headed arrow? a. External communication b. Intrinsic value c. Internal promotion d. Interactive promotion 128. Who is interacting in the Interactive Promotions? a. Frontline employees and customers  b. Top management and employees c. Employees and top competitors d. Background employees and technology 129. What is personal selling designed to influence? a. A communication incentive b. A competitor response c. A purchase decision d. A market’s elasticity 130. Promotion is ultimately about making: a. Efficient exchanges between suppliers and retailers b. Good communication efforts between management and employees c. Effective exchanges between the seller and the customer d. The best sale price possible 131. All promotional tools are equally effective in all promotional situations. a. True b. False 132. Which of these is not a goal of promotion? a. Price cuts b. Awareness c. Desire d. Action 133. Can the order of the AIDA model be changed? Why or why not? a. Yes, each goal is individual and separate b. No, each step must be achieved before moving to the next c. No, consumer reactions must drive the order d. Yes, changing the order keeps competitors on edge 134. Which step of the Process of Consumption best lines up with the Desire aspect of Goals and Promotion? a. Reaction b. Need recognition c. Evaluation of alternatives d. Interest 135. Which of these is not a goal covered by Public Relations Advertising? a. Awareness b. Interest c. Desire d. Action 136. Which of the following media categories commands the biggest slice of advertising dollars today? a. Broadcasting b. Out of home c. Print d. Direct mail 137. Which of these is not an example of broadcast advertising? a. Billboard advertisement b. TV advertisement c. Radio advertisement d. All of these are examples of broadcast advertising 138. The advertising examples given in the lecture videos best demonstrate which aspects of the SUCCESs model for cutting through clutter? a. Credible and promotional b. Emotion and Concrete c. Simple and concrete Stockholders d. Simple and unexpected 139. A benefit of TV broadcast advertising is that: a. Only visual mediums are available b. Only audio mediums are available c. All broadcasting is seen as a credible news source d. Both visual and audio mediums are available 140. The Cadbury commercial in the video lecture is an example of how advertisements have the ability to improve a company’s reputation. a. True b. False 141. Which of these is not an example of print media advertising? a. Radio b. Magazines c. Directories d. Newspapers 142. Why has readership of most print media declined in recent years? a. Literacy has decreased b. Many readers obtain information online c. All magazines have gone out of business d. Magazines move to print too quickly 143. Print ads are no longer effective in today’s world. a. True b. False 144. Compared to digital or broadcast advertising, print advertisements tend to lack. a. Flexibility b. Clarity c. Ingenuity d. Words 145. Marketers tend to spend _____ on out of home advertisements compared to other methods. a. More b. The same c. Inconclusive amounts d. Less 146. Which of these is not an example of out of home advertising? a. Billboards b. Online ad videos c. Signage d. Car wraps 147. Which of these is not a reason for the increasing popularity of digital marketing? a. Easily targeted b. Interactive medium c. Difficult to track effectiveness d. Cost-effective 148. Which of these is not a key category of digital promotion? a. Display b. Social media c. Video d. Affiliate 149. Which of these is the best example of display advertising? a. Email promotion b. Broadcast c. A billboard d. Banner advertisement 150. What is a main risk of using email promotion? a. Consumers ignoring emails b. Cost of sending email c. Privacy issues d. Cannot target emails effectively 151. What is the key aspect of the definition of social media? a. The ability it gives users to interact with each other b. Social media is online  c. Content comes in app form d. Narrow reach 152. Social media marketing, when compared to normal social media use, uses the platform: a. Aggressively b. Strategically c. Passively d. More often 153. Only Gen X and millennial demographics are represented on social media. a. True b. False 154. The social media landscape changes _____ and requires _____ from marketers. a. Quickly; indifference b. Slowly; caution c. Slowly; spontaneity d. Quickly; flexibility 155. There is a trend towards _____ elements in social media. a. Audio b. Visual c. Tangible d. Multimedia 156. Which social media platform has the widest customer base? a. Twitter b. LinkedIn c. Facebook d. YouTube 157. Only certain demographics can be reached using Facebook. a. True b. False 158. Which of these situations would Twitter be best for? a. Live reporting on b. Video sharing c. Planning for the future d. Researching an article 159. Pinterest is the only social media platform that is ______-looking. a. Forward b. Backward c. Present  d. Outward 160. Posts that have a (n) ____ element tend to do well on Instagram. a. Intrinsic b. Grayscale c. Audio d. Artistic 161. Which social media site is best suited for business to business marketing? a. YouTube b. Facebook c. Twitter d. LinkedIn 162. Which of these is an important characteristic of YouTube? a. Video based search engine b. 140-character limit c. Business to Business marketing d. Forward-looking 163. When determining which social media platform to use for marketing, what should marketing professionals consider? a. What is “cool” or trendy b. How the platform fits with your product c. Pay per click advertisements d. Which platforms are most convenient for the firm 164. When determining which social media platform to use for marketing, where should marketing professionals look? a. Where the largest number of active users are active b. Where the target segment is best represented c. What is “cool” or trendy d. Where millennials are most active 165. Which of these is the best strategy for determining the best social media platform to use for marketing? a. Abandon unsuccessful platforms immediately b. Stay consistent with platforms and content c. Switch target markets rather than change marketing strategy d. Try new platforms and content to see what connects 166. With social media marketing, who are you representing? a. Your brand b. Yourself  c. The media platform d. Your followers 167. Companies on social media should remember to: a. Post and disappear b. Provide sales pitches only c. Interact with followers d. Reply angrily to frustrated customers 168. What is Search Engine Optimization (SEO)? a. The strategy to try and remove a firm from Google b. The strategy to ensure only certain markets can find your firm c. The strategy to try and improve the firms ranking on Google d. A firm’s basic online strategy 169. Why do firms use SEO? a. Only the most competitive companies use SEO b. All companies want to have the #1 ranking on Google c. SEO is required for firms by ONET d. All companies want to reduce their web traffic 170. It is common for consumers to go past the first page of their Google search. professionals look? a. True b. False 171. Repetition of primary keywords is the only requirement for moving a firm up on a Google’s search engine rankings. a. True b. False 172. What is the point of on-site SEO? a. Prove to Google that your content is relevant b. Prove to consumers that your content is popular c. Improve business to business marketing d. Increase pay-per-click 173. What is the best way to have excellent off-site SEO? a. Have high quality content  b. Have an easily navigated webpage c. Keep content the same as long as possible d. Use repetitive, homogenous links 174. Experts say that off-site is _____ important when compared to on-site SEO. a. Less b. More Where the target segment is best represented c. Equally 175. Pay-per-click marketing is also known as: a. Online advertising b. Search marketing c. Bidding d. Google mining 176. Which of these is not part of making a pay-per-click ad? a. Set the highest bid available b. Make the ad relevant to the keywords searched c. Match the ad message Unique Value Proposition, and Call to Action d. Make it obvious what you want the user to do upon seeing the ad 177. What is determined by the default bid aspect of setting up a pay-per-click ad? a. How much the firm pays per click b. The firm’s budget per week c. Keyword popularity d. Effectiveness of landing page 178. What is a landing page? a. The web homepage b. A page devoted to a certain product c. The sales section d. A special page specifically for people who click on your ad 179. Which of these is not a characteristic of a good landing page? a. Full company information b. Clear offer c. Quality content offer d. Simple form 180. Online display advertising is exactly the same as pay per click. a. True b. False 181. What is the main difference between online display advertising and pay per click?  a. Online display is visual; pay-per-click is text b. Online display is text; pay-per-click is visual c. Online display is audio; pay per click is tangible d. Online display is effective; pay per click is inconclusive 182. Google’s display network is huge, with approximately ____ monthly impressions (as of fall 2017). a. 10 million b. A hundred thousand c. 6 billion d. One trillion 183. What is contextual targeting most similar to? a. Pay-per click b. Keywords c. Data mining d. Customer service 184. Targeting based on “where people have been” is known as: a. Forecasting b. Market segmenting c. Remarketing d. Coupon rate 185. When will a firm’s ad show up the most often? a. The firm creates different ads for different sizes b. The firm only has one size ad c. The firm creates a bold, colorful ad d. The firm connects with Bing rather than Google 186. Which of these is not a listed method of mobile marketing? a. Online news articles b. Websites c. Apps d. Mobile display ads 187. Standard webpage views are optimal for mobile access. a. True b. False 188. What is the number one way to market to mobile users? a. Link mobile users to the standard site b. Optimize webpage views through mobile sites c. Focus on email based methods d. Create several versions of an app 189. Which of these marketing methods is the most unique to mobile marketing? a. Pay-per click b. Display ads c. Social media d. Location based 190. The companies who utilize mobile marketing to its fullest potential are using many platforms in addition to mobile. a. False b. True 191. Which is NOT a role of specific supply chain? a. Improve proficiency b. Reduce costs c. Decrease accuracy d. Increase profits 192. What are the two types of Supply Chains? a. Indirect and wholesale b. Direct and indirect c. Direct and wholesale d. Resale and wholesale 193. What is the supply chain? a. Organizations and activities involved with the flow of products from raw materials to the customer b. Promotions and offers involved with the flow of activities from raw materials to the customer c. Products and services involved with the flow of cash from the consumer to the firm d. None of the above 194. What are the roles of the market intermediaries? a. Link the manufacturer with the customer b. Create benefits for manufacturers c. Providing storage d. All of the options 195. What is NOT a type of marketing intermediary? a. Manufacturer b. Distributors c. Wholesalers d. Retailers 196. Which market intermediary sells products for a commission? a. Agents and Brokers b. Wholesalers  c. Retailers d. Distributors 197. Which market intermediary works directly with the customer? a. Agents and Brokers b. Distributors c. Retailers d. Wholesalers 198. What does the supply chain represent? a. The market intermediaries b. Just the original manufacturer c. The steps it takes to get the product from the original manufacturer to the consumer d. None of the above 199. Which is not a function that distributors perform? a. Selling b. Delivering c. Maintaining inventory d. Creating products 200. A grocery store is an example of what type of market intermediary? a. Wholesalers b. Distributors c. Retailers d. Agent/broker 201. A real-estate company is an example of what market intermediary? a. Distributor b. Wholesaler c. Retailer d. Agent/Brokers 202. When a producer sells directly to a consumer this is an example of which type of supply chain structure? a. Direct b. Indirect c. Neither d. Both 203. An effective relationship in supply chain can be represented by vertical supply chains. a. False b. True 204. Which of the following is NOT part of a vertical marketing system? a. Wholesalers b. Producer c. Consumer d. Retailer 205. Nike is an example of which type of vertical marketing system? a. Administered b. Contractual c. Corporate d. None of these 206. Which vertical marketing system is a formal agreement between the levels of distribution or production channel to coordinate the entire process? a. Contractual b. Administered c. Corporate d. None of these 207. Which is NOT something a company should consider when choosing a vertical marketing system? a. Best coverage the company’s target market b. Provide the perspective buyer with what they want c. Most profitable d. Convenience 208. Pizza Hut is an example of what type of vertical marketing system? a. Administered b. Corporate c. Contractual d. None 209. Which of these is not a type of vertical marketing system? a. Supplier VMS b. Corporate VMS c. Administered VMS d. Contractual VMS 210. Which of these is NOT an important factor in Amazon’s supply chain to have fast delivery? a. Location b. Size c. Cost d. Number of warehouses 211. What is an advantage to corporate VMS?  a. Control all aspects of the system b. Low taxes c. Large trust in all channel members d. Low cost 212. Who owns the channel in Administered VMS? a. No one b. The company c. Whoever contractually has power d. None of these 213. Which type of vertical marketing system has one member of the production/distribution chain that is super dominant? a. Corporate V b. Administered c. Contractual d. None 214. Which of these is the best example of Contractual VMS? a. Retailing b. Franchising c. Ownership d. Agent/Broker 215. What is the definition of the Marketing Environment? a. The dynamic context within the firms operate b. The environment of the competitors within firms which make decisions c. The mass of suppliers and consumers for whom firms compete d. The firm specific marketing budget within which marketers operate 216. What are the two key words in the definition of the Marketing Environment? a. Competitors; decisions b. Operate; compete c. Dynamic; context d. None of these 217. What is defined as groups and organizations that can exert a direct influence on the firm’s ability to accomplish its goals? a. External environment b. Competitors c. Regulators d. Immediate environment 218. Which of these is not an example of the Immediate Environment? a. Technological Environment  b. Suppliers c. Competitors d. Customers 219. What is defined as powerful societal forces that influence all entities in the immediate environment? a. Internal environment b. External environment c. Backstage players d. Logistical forces 220. The External Environment is a stable playing field for every fiscal year. a. True b. False 221. Exchanges can be made between the firm and both the Immediate and External Environment. a. False b. True 222. Customers are always the group that requires the most attention from the firm. a. True b. False 223. Integris Hospital in Oklahoma City has forecasted a growing population in the surrounding area, but is also facing a significant nursing shortage. Which aspect of the marketing environment is Integris most likely to be focused on? a. Customers b. Shareholders c. Intermediaries d. Employees 224. What is generally credited as the reason for Southwest Airlines’ success over time? a. Their focus on good relationships with employees b. The lack of intermediaries in purchasing tickets c. Low prices of tickets d. All of these 225. Why is it acceptable for firms to focus greater efforts on employees or customers, or even change their focus over time? a. Business strategy is about the entire set of exchanges of a firm b. A firm’s focus should always be on customers only c. Every CEO brings a new focus for the company  d. None of these 226. A firm should focus on creating a set of ______, ______ exchanges with the environment. a. Competitive; analytical b. Sustainable; favorable c. Marketing; inexpensive d. Immediate; external 227. With which of the following actors in the Immediate environment are marketers usually most concerned? a. Customers b. Governmental Bodies c. Shareholder d. Suppliers 228. The Environmental Protection Agency was formed in 1970 and began to monitor the environmental impact of United States companies, forcing many to change some of their practices. Which exchange in the Immediate Environment is this an example of? a. Governmental bodies and political/legal b. Governmental bodies and suppliers c. Governmental bodies and the firm d. Intermediaries and the firm 229. In the 2000’s, Microsoft came out with the first portable music player – the Zune. When Apple came out with the iPod consumers viewed it as an improved product when compared to the Zune. From Microsoft’s perspective, which actor in the immediate environment was most responsible for the change in their sales? a. Competitors b. Shareholders c. Employees d. Intermediaries 230. In 2011, Japan was hit with significant natural disasters. Japan is home to many of the companies on which car manufacturers depend for parts. From these manufacturers’ perspective, which actor in the Immediate Environment affected them the most? a. Natural Disaster b. Suppliers c. Shareholders d. Employees 231. The exchange between the firm and its employees consists of: a. The employees’ time and skills; the firm’s money b. The employees’ money; the firm’s time and skills c. The employees’ expertise; the firm’s education d. None of these 232. Which of these is not an Intermediary in the Immediate Environment? a. Creditors b. Wholesalers c. Retailers d. All of these are Intermediaries 233. The old CEO of Uber was fired by the Board of Directors of his company, and Uber therefore had a significant change in leadership of the firm. Which aspect of the Immediate Environment created this change a. Shareholders b. Intermediaries c. Customers d. Suppliers