In a distribution center, getting merchandise floor-ready means _____.
Marielle Farm sells bakery and dairy products in the U.S. It sells three varieties of cheese, six types of breads, four types of jams, five types of cookies, and eight different varieties of croissants. What is the breadth of Marielle's product mix in this scenario?
_____ needs pertain to the personal gratification consumers associate with a product and/or service.
Sandra has been using her Xapa-6, a six-year old phone model from Keto, for the past four years. Despite several other releases from Keto and advancements in mobile phone technology, Sandra hasn't switched to a newer model. In this scenario, Sandra is one among the _____.
Ryan, an insurance salesperson, sells an insurance policy covering hurricane damage to Sean. However, as instructed by his company, Ryan fails to tell Sean that the policy does not include water damage caused by hurricane flooding. In this scenario,
The person who first suggests buying the particular product or service is known as the _____.
Companies are legally required to
In the marketing communication process, the sender works with a creative department, either an in-house marketing department or an external agency, who receives the information and transforms it for use. Here, the creative department is the _____.
What is the argument for standardizing marketing strategies across cultures?
_____ is a method of prospecting in which salespeople telephone or go to see potential customers without appointments.
BlueGreen Tech is conducting market research to discover potential customers who might be interested in its products. The company will also survey its existing customers to identify ways of selling them additional products from its product line. At which stage of the customer relationship management process is BlueGreen?
Unibix Inc. is developing its marketing plan. The company has identified the segments in the market that it can pursue. Which of the following should the company do next if it follows a typical planning process?
_____ survey type has questions that are open ended and allow respondents to answer in their own words.
In _____ companies initially develop products for niche or underdeveloped markets, and then expand them into their original or home markets.
Calculate the return on marketing investment of a campaign that costs $10,000 and delivers $45,000 in incremental net profit.
One of the advantages that price skimming offers over penetration pricing is that:
In an administered vertical marketing system,:
_____ strategies are designed to increase demand by focusing on wholesalers, retailers, or salespeople.
Which of the following accurately describes markdowns?
Casey Toys, a toy company, deliberately prints a high price label on its products so that stores can sell its products at seemingly huge discounts. Casey is violating the ethical norm of _____ in the AMA Statement of Ethics.
What does the break-even point refer to in a break-even analysis?
Personal selling adds value by
Snap, a manufacturer of cleaning supplies, sells its products through retailers like Peblle, a country-wide chain of discount stores in the U.S. At the end of a quarter, Snap takes into account the total purchases made by Peblle and offers a discount in the form of a rebate check. The pricing tactic used by Snap is termed as a(n) _____.
Which of the following is true of the in-depth interview method?
_____ is the two-way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decision.
James visits a car dealership with the intention of buying a hatchback. However, he notices that the dealership is offer discounts on sedans and SUV's and considers three different options. In terms of the consumer buying decision process, James just experienced
A grocery store checkout counter collects content relating to individual consumer purchases. When this content is organized, analyzed and interpreted, it becomes _____.
Moul, a diaper manufacturer, is developing a media plan that involves trying to expose its target audience to its new advertisement about ten times. Moul is trying to increase its advertisement's _____.
Jim wants to buy a business suit and has a particular brand in mind. However, he also states that he might consider buying three other more expensive brands as alternatives. In this scenario, these alternative brands constitute a _____ set.
Jim was born after World War II in the year 1949 in the U.S. If most of his friends were born between 1957 and 1950, Jim and his friends would be considered part of _____.
BrewCraft Beer is a microbrewery that sells its beer at its own beer gardens in Central City. Though customers were initially unused to the concept of a beer garden, BrewCraft undertook a long-running social media campaign to popularize the concept. It also advertised the fact that all its ingredients were sources locally and sustainably. Which of the following would be considered the service that BrewCraft is selling customers?
_____ is a communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase.
What is the variable cost of a product if the fixed costs associated with it total $6,000, the break even point is 300 units, and selling price is $45?
Hermit, a fashion apparels retailer, recently slashed prices on its premium fashion label, Lau, by 40%. This resulted in a sharp rise in sales of Lau by 30%. This also directly impacted the sales of its lower-priced brand, Infinity, which saw sales reduced by 15%. What is the cross-price elasticity of demand between Lau and Infinity?
The social network that is used solely for sharing videos is
EightBuy.com is an online retail store that offers a special discount on every eighth item that a customer purchases from the store. The website has over 100 pages and the home page of the website is the most viewed page, at 1 million views per day. If EightBuy.com attracts 400,000 unique visitors per day, what is the number of impressions of its home page?
The _____ component of attitude reflects a person’s belief system, or what we believe to be true.
According to the STP process, once a firm establishes overall strategies, it must
The process of dividing the market into groups of customers with different needs, wants, or characteristics—who therefore might appreciate products or services geared especially for them—is called _____.
_____ appeals help consumers make purchase decisions by offering factual knowledge that encourage consumers to evaluate the brand favorably on the basis of the key benefits they provide.
Aaron Ulm and Edyth Mcgann are marketing analysts at Cara Cobey Fashion House, an online retailer that only sells private brands. Cara Cobey made a profit of $145,000 the previous year and $180,000 the year before. The loss in profit of almost 20% prompts Cara to hire Aaron and Edyth. Aaron and Edyth figure out that the drop in sales corresponds to a 15% drop in the number of visitors to the site. On their advice, Cara invests $10,000 in revamping the website to enable potential customers find it easily using Internet searches. At the end of the year, Cara reports a profit of $175,000. What is the ROI in this scenario?
Novel Electronics sold 400 Technova smartphones in the first week of October 2013 at a price of $250 per unit. The following week, it reduced the price to $230 per unit and it saw sales increase by 20%. What is the price elasticity of demand of Technova smartphones?
Ryan's Bikes, a motorcycle company, designs and builds custom bikes. The company customizes each vehicle according to the taste, specification and individual requirements of the customer. In this scenario, Ryan's is using a _____ strategy.
Which of the following activities is part of the place aspect of the marketing mix?
Mercosur, Association of Southeast Asian Nations, NAFTA, and European Union are examples of _____.
MN Corp., a retailer, wished to open a new store in a suburb. In order to obtain data relating to consumer behavior, competition, and other relevant information, the company employed Am Research, a market research firm. In this scenario, the data collected and presented by Am Research would be known as _____.