Marketing 2016 18th Edition

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

DISCUSSION STARTERS Discussion Starter 1: Customer Service ASK: How many of you have ever experienced rejection or disappointment in a customer service experience? This question can lead to a discussion on good and bad customer service. This question can lead to a discussion on good and bad customer service. This

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as perm itted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplica ted, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whol e or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permit ted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

DISCUSSION STARTERS Discussion Starter 1: Dove Campaign for Real Beauty ASK: How many of you feel that most beauty advertising conveys an impossible standard for women to achieve? Unilever, Doves parent company, conducted a study about womens attitudes toward their own physical appearances and found that less than two percent

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distri buted with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as perm itted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, o r duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

DISCUSSION STARTERS Discussion Starter 1: Corporate Social Responsibility Project The Pyramid of Corporate Social Responsibility (Figure 4.1) onto a screen. Ask students to talk about how firms like Altria (formerly Philip Morris) and Walmart do an excellent job of executing the base level and the top level of the pyramid,

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or dupl icated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whol e or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2016 Cengage Learning. All Rights Reserved.

ANSWER: b POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.01.05 - LO: 01-05 NATIONAL STANDARDS: United States - BUSPROG: Communication STATE STANDARDS: United States - AK - DISC: Marketing Plan TOPICS: A-Head: Understanding The Marketing Concept KEYWORDS: Bloom's: Knowledge ANSWER: b POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.01.05 - LO: 01-05

1. Suppose you are a marketing manager at Procter & Gamble for a new, all-purpose cleaning product. List four marketing mix variables and describe the decisions and activities associated with each. ANSWER: Marketers consider activities such as product, pricing, distribution, and promotions as the marketing mix because they decide what

ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.01.02 - LO: 01-02 NATIONAL STANDARDS: United States - BUSPROG: Communication STATE STANDARDS: United States - AK - DISC: Pricing TOPICS: A-Head: Marketing Deals With Products, Distribution, Promotion, And Price KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.01.02

ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.10.02 - LO: 10-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Online/Computer TOPICS: A-Head: Growth And Benefits Of Digital Marketing KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.10.02 - LO:

1. Describe the opportunities that have evolved in marketing due to the use of digital media. ANSWER: Digital media are electronic media that function using digital codeswhen we referto digital media, we are referring to media available via computers, mobile devices,and other digital devices that have been released in recent

KEYWORDS: Bloom's: Application 58. As a result of the increasing usage of digital media, some of the marketer's control over dispensing product information has been placed a. in danger. b. under the authority of the government. c. in the hands of the company's competitors.

e. Brand extension ANSWER: b POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.11.06 - LO: 11-06 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Product TOPICS: A-Head: Branding KEYWORDS: Bloom's: Application ANSWER: b POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.11.06 - LO: 11-06

b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.11.01 - LO: 11-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Product TOPICS: A-Head: What Is A Product? KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.11.01 -

DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.11.03 - LO: 11-03 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Product TOPICS: A-Head: Product Line And Product Mix KEYWORDS: Bloom's: Knowledge DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.11.03 - LO: 11-03 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE

1. What is a product? Provide an example of each type of product. ANSWER: A product is a good, a service, or an idea received in an exchange. It can be either tangible or intangible and includes functional, social, and psychological utilities or benefits. It also includes supporting services, such

developed to make theproduct more desirable. For example, the Cool Whip package can be reused as afood-storage container. As they develop packages, marketers must take many factors into account.Obviously, one major consideration is cost. Although a number of differentpackaging materials, processes, and designs are available, costs vary greatly. Inrecent years,

TOPICS: A-Head: Packaging KEYWORDS: Bloom's: Knowledge TOPICS: A-Head: Packaging KEYWORDS: Bloom's: Knowledge TOPICS: A-Head: Packaging KEYWORDS: Bloom's: Knowledge 340. Sandwich bread would more likely be packaged in a green wrapper than a yellow one. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES:

292. Scenario 11.1 Use the following to answer the questions. When Silk Soymilk began packaging its chocolate milk in single-serving sizes, the company chose drink boxes that did not need refrigeration. The boxes were only sold in shrink-wrapped sets of six. Single boxes were not available at grocery

57. After building a prototype of his new device, Brad is asked to conduct rigorous functional testing to see if the device meets performance and safety qualifications. This is part of the ____ phase of the new-product development process. a. product design b. screening c. product

Jonathan Moore, president of Polar Manufacturing Company, has just reviewed the performance reports for the previous year and sees that there are some areas in which the company needs to improve. He specifically feels they could do a better job in managing Polar's product mix. Jonathan calls a meeting of

1. Compare and contrast line extensions and product modifications. ANSWER: A line extension is the development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhatdifferent customer needs. On the other hand, a product modification involves changing one or

c. high level of customer contact; clients d. low level of perishability; customers e. low level of intangibility; clients ANSWER: c POINTS: 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: MARK.PRID.16.13.02 - LO: 13-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Customer

1. Discuss the importance of services in the U.S. economy, and explain the growth of services in our economy. ANSWER: The importance of services in the U.S. economy led the United States to be known as the worlds first service economy. More than one-half of new businesses in the United

POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.13.03 - LO: 13-03 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Promotion TOPICS: A-Head: Developing And Managing Marketing Mixes For Services KEYWORDS: Bloom's: Knowledge POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.13.03 - LO: 13-03 NATIONAL STANDARDS:

ANSWER: d POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.13.05 - LO: 13-05 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Marketing Plan TOPICS: A-Head: Nonprofit Marketing KEYWORDS: Bloom's: Knowledge ANSWER: d POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.13.05 - LO: 13-05 NATIONAL STANDARDS:

1. In what ways do retailers add value to products? ANSWER: Retailers add value for customers by providing services and assisting in making product selections. They can also enhance consumers perception of the value of products by making buyers shopping experiences easier or more convenient, such as providing free delivery

DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.15.02 - LO: 15-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Distribution TOPICS: A-Head: Major Types Of Retail Stores KEYWORDS: Bloom's: Knowledge DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.15.02 - LO: 15-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE

211. Franchisees do not pay to use the franchiser's name. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.15.05 - LO: 15-05 NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking STATE STANDARDS: United States - AK - DISC: Distribution TOPICS: A-Head: Franchising KEYWORDS:

KEYWORDS: Bloom's: Application 113. While on their family vacation, the Millers realize they left their camera at home. They purchase a disposable camera at an amusement park using their credit card, but never interact with a person. What type of retailing did this transaction most likely involve?

LEARNING OBJECTIVES: MARK.PRID.16.15.06 - LO: 15-06 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Marketing Plan TOPICS: A-Head: Wholesaling KEYWORDS: Bloom's: Knowledge LEARNING OBJECTIVES: MARK.PRID.16.15.06 - LO: 15-06 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC:

d. promotes the product to retailers only. e. will be assured of having an effective promotional mix. ANSWER: b POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.16.05 - LO: 16-05 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Promotion TOPICS: A-Head: Selecting

ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.16.04 - LO: 16-04 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Promotion TOPICS: A-Head: The Promotion Mix KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.16.04 - LO: 16-04 NATIONAL STANDARDS:

KEYWORDS: Bloom's: Application 53. To gain maximum benefit from promotional efforts, marketers must strive to a. become directly involved rather than indirectly involved. b. obtain information about the marketing environment through their MIS. c. realize the needs of their target market and try to meet

1. What is integrated marketing communications? Explain its purpose. ANSWER: Integrated marketing communications refer to the coordination of promotion and other marketing efforts to ensure maximum informational and persuasive impact on customers. Coordinating multiple marketing tools to produce this synergistic effect requires a marketer to employ a broad perspective. A

a. Competitive parity b. Percent of sales c. Arbitrary d. Affordability e. Objective-and-task ANSWER: e POINTS: 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: MARK.PRID.16.17.02 - LO: 17-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Promotion TOPICS: A-Head: Developing An

1. Describe the major types of advertising, and discuss how they differ. ANSWER: Advertising can be classified as institutional or product advertising. Institutional advertising promotes organizational images, ideas, and political issues. It can be used to create or maintain an organizational image. Institutional advertisements may deal with broad image issues,

LEARNING OBJECTIVES: MARK.PRID.16.17.02 - LO: 17-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Promotion TOPICS: A-Head: Developing An Advertising Campaign KEYWORDS: Bloom's: Knowledge LEARNING OBJECTIVES: MARK.PRID.16.17.02 - LO: 17-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK

ANSWER: d POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.17.04 - LO: 17-04 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Promotion TOPICS: A-Head: Public Relations KEYWORDS: Bloom's: Knowledge ANSWER: d POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.17.04 - LO: 17-04 NATIONAL STANDARDS: United

LEARNING OBJECTIVES: MARK.PRID.16.18.02 - LO: 18-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: Steps Of The Personal Selling Process KEYWORDS: Bloom's: Application LEARNING OBJECTIVES: MARK.PRID.16.18.02 - LO: 18-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States

LEARNING OBJECTIVES: MARK.PRID.16.18.07 - LO: 18-07 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Promotion TOPICS: A-Head: Consumer Sales Promotion Methods KEYWORDS: Bloom's: Knowledge LEARNING OBJECTIVES: MARK.PRID.16.18.07 - LO: 18-07 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK

1. Identify and discuss the general steps in the personal selling process. ANSWER: Personal selling process consists of seven steps: prospecting, preapproach, approach, making the presentation, overcoming objections, closing the sale, and following up. Prospecting: Developing a database of potential customers is called prospecting. Salespeople seek names of prospects from

ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.18.03 - LO: 18-03 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Promotion TOPICS: A-Head: Types Of Salespeople KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.18.03 - LO: 18-03 NATIONAL STANDARDS:

55. At what point does a firm maximize profit? a. The point at which marginal cost equals marginal revenue b. The point at which the firm sells its product at the highest price c. The breakeven point plus the adjusted marginal cost d. The point at

1. Compare and contrast price and nonprice competition. Give examples of firms that compete on a price basis and on a nonprice basis. ANSWER: When engaging in price competition, a marketer emphasizes price as an issue and matches or beats competitors prices. To compete effectively on a price basis, a

ANSWER: True POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.19.03 - LO: 19-03 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Pricing TOPICS: A-Head: Demand Curves And Price Elasticity KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.19.03 - LO: 19-03

suggests that refineries are using which of the following pricing methods? a. Price differentiation b. Base-point pricing c. Freight absorption pricing d. Transfer pricing e. Zone pricing ANSWER: e POINTS: 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: MARK.PRID.16.19.06 - LO: 19-06 NATIONAL STANDARDS: United States - BUSPROG:

LEARNING OBJECTIVES: MARK.PRID.16.02.01 - LO: 02-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: The Strategic Planning Process KEYWORDS: Bloom's: Comprehension LEARNING OBJECTIVES: MARK.PRID.16.02.01 - LO: 02-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK

LEARNING OBJECTIVES: MARK.PRID.16.02.01 - LO: 02-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: The Strategic Planning Process KEYWORDS: Bloom's: Knowledge LEARNING OBJECTIVES: MARK.PRID.16.02.01 - LO: 02-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK

1. Describe the process of strategic planning. How does this process help marketing managers? ANSWER: Through the process of strategic planning, a company establishes an organizational mission and formulates goals, a corporate strategy, marketing objectives, and a marketing strategy. A market orientation should guide the process of strategic planning to

1. Describe the six steps of the process that marketers can use to establish prices. ANSWER: Before a products price can be set, an organization must determine the basis on which it will competewhether on price alone or some combination of factors. There are six stages that marketers can follow

DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.20.05 - LO: 20-05 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Pricing TOPICS: A-Head: Selection Of A Pricing Strategy KEYWORDS: Bloom's: Application DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.20.05 - LO: 20-05 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE

56. If General Motors determines that it wants to sell 200,000 Chevrolet Acadias and sets the price at $29,500 because it knows that at that price it will reach that goal, the firm would be using a ____ pricing method. a. cost-plus b. competition-based c. psychological

161. Because of overlapping areas of responsibilities of regulatory agencies, confusion and conflict regarding jurisdiction of marketing activities are common. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.03.05 - LO: 03-05 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States

c. recession. d. depression. e. recovery period. ANSWER: c POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.03.03 - LO: 03-03 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: Economic Forces KEYWORDS: Bloom's: Application ANSWER: c POINTS: 1 DIFFICULTY:

STATE STANDARDS: United States - AK - DISC: Customer TOPICS: A-Head: Sociocultural Forces KEYWORDS: Bloom's: Comprehension STATE STANDARDS: United States - AK - DISC: Customer TOPICS: A-Head: Sociocultural Forces KEYWORDS: Bloom's: Comprehension STATE STANDARDS: United States - AK - DISC: Customer TOPICS: A-Head: Sociocultural Forces KEYWORDS: Bloom's: Comprehension

1. Given a new brand of barbecue sauce for which to develop a marketing strategy, describe how you would conduct environmental scanning and analysis. ANSWER: Environmental scanning can be done by collecting information about the existing brands of barbecue sauce, surveying people about their attitude toward barbecue sauces. Scanning involves

e. More information about the products can be posted online. ANSWER: b POINTS: 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: MARK.PRID.16.04.01 - LO: 04-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Customer TOPICS: A-Head: The Nature Of Social Responsibility KEYWORDS: Bloom's: Knowledge ANSWER:

1. Define and describe the importance of social responsibility in marketing. ANSWER: In marketing, social responsibility is defined as an organizations obligation to maximize its positive impact and minimize its negative impact on society. Social responsibility thus deals with the total effect of all marketing decisions on society. In marketing,

LEARNING OBJECTIVES: MARK.PRID.16.04.01 - LO: 04-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: The Nature Of Social Responsibility KEYWORDS: Bloom's: Application LEARNING OBJECTIVES: MARK.PRID.16.04.01 - LO: 04-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States -

KEYWORDS: Bloom's: Application 113. A(n) ____ is a collection of information arranged for easy access and retrieval. a. database b. marketing information system c. marketing decision support system d. online information service e. e-mail system ANSWER: a POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES:

POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.05.03 - LO: 05-03 NATIONAL STANDARDS: United States - BUSPROG: Communication STATE STANDARDS: United States - AK - DISC: International Perspectives TOPICS: A-Head: The Marketing Research Process KEYWORDS: Bloom's: Knowledge POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.05.03 - LO: 05-03 NATIONAL STANDARDS: United States

KEYWORDS: Bloom's: Application 55. In marketing research, a sample is best described as a. a small group that is a part of a larger group. b. all the elements, units, or individuals of interest to researchers for a specific study. c. a limited number of

1. Compare reliability and validity. Why are they important considerations in marketing research? ANSWER: In designing research, marketing researchers must ensure that research techniques are both reliable and valid. A research technique has reliability if it produces almost identical results in repeated trials. To have validity, the research method must

STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: Step 1: Identify The Appropriate Targeting Strategy KEYWORDS: Bloom's: Comprehension STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: Step 1: Identify The Appropriate Targeting Strategy KEYWORDS: Bloom's: Comprehension STATE STANDARDS: United States - AK - DISC:

1. How do business markets differ from consumer markets? ANSWER: Markets fall into one of two categories: consumer markets and business markets. These categories are based on the characteristics of the individuals and groups that make up a specific market and the purposes for which they buy products. A consumer

KEYWORDS: Bloom's: Knowledge 158. Lifestyle analysis focuses on people's activities, interests, and opinions. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.06.04 - LO: 06-04 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Customer TOPICS:

c. the Delphi technique. d. a market test. e. a customer forecasting survey. ANSWER: e POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.06.08 - LO: 06-08 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: Developing Sales Forecasts KEYWORDS:

d. extended and routinized. e. perceptive and selective. ANSWER: b POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.07.01 - LO: 07-01 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Marketing Plan TOPICS: A-Head: Consumer Buying Decision Process KEYWORDS: Bloom's: Knowledge ANSWER: b

115. An opinion leader is likely to be most effective under all of the following conditions except when the a. follower has high product involvement. b. follower has low product knowledge. c. follower has values and attitudes similar to the opinion leader. d. product details are

1. Compare and contrast the three major influences on the consumers decision-making processes. ANSWER: The consumer buying decision process can be affected by numerous influences, which are categorized as situational, psychological, and social. Situational influences result from circumstances, time, and location that affect the consumer buying decision process. Situational factors

STATE STANDARDS: United States - AK - DISC: Customer TOPICS: A-Head: Psychological Influences On The Buying Decision Process KEYWORDS: Bloom's: Knowledge STATE STANDARDS: United States - AK - DISC: Customer TOPICS: A-Head: Psychological Influences On The Buying Decision Process KEYWORDS: Bloom's: Knowledge STATE STANDARDS: United States - AK - DISC:

1. What are the four major types of business markets, and what are the characteristics of each? ANSWER: The four categories of business markets are producer, reseller, government, and institutional markets. Individuals and business organizations that purchase products for the purpose of making a profit by using them to produce

c. a sampling d. specifications e. reputations ANSWER: b POINTS: 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: MARK.PRID.16.08.02 - LO: 08-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Product TOPICS: A-Head: Dimensions Of Marketing To Business Customers KEYWORDS: Bloom's: Application ANSWER:

also sells its products to independent repair centers, dealers, and other wholesalers in the northeast and southern states. Precision Brake has done research on the demand for lawn tractors and found that most manufacturers are in the states of Kentucky, Tennessee, and Alabama. Research also shows that most of the

ANSWER: a POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.09.06 - LO: 09-06 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: International Perspective TOPICS: A-Head: Customization Versus Globalization Of International Marketing Mixes KEYWORDS: Bloom's: Application ANSWER: a POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.09.06

ANSWER: d POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.09.03 - LO: 09-03 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: International Perspective TOPICS: A-Head: Regional Trade Alliances, Markets, And Agreements KEYWORDS: Bloom's: Knowledge ANSWER: d POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.09.03 -

1. Describe the sociocultural forces that affect international marketing strategy. ANSWER: Cultural and social differences among nations can have significant effects on marketing activities. Because marketing activities are primarily social in purpose, they are influenced by beliefs and values regarding family, religion, education, health, and recreation. Local preferences, tastes, and

trade. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.09.03 - LO: 09-03 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: International Perspective TOPICS: A-Head: Regional Trade Alliances, Markets, And Agreements KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS:

e. Order receipt, order checking, order delivery ANSWER: d POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: MARK.PRID.16.14.05 - LO: 14-05 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Distribution TOPICS: A-Head: Physical Distribution In Supply-Chain Management KEYWORDS: Bloom's: Knowledge ANSWER: d POINTS: 1

STATE STANDARDS: United States - AK - DISC: Distribution TOPICS: A-Head: Strategic Issues In Marketing Channels KEYWORDS: Bloom's: Knowledge STATE STANDARDS: United States - AK - DISC: Distribution TOPICS: A-Head: Strategic Issues In Marketing Channels KEYWORDS: Bloom's: Knowledge STATE STANDARDS: United States - AK - DISC: Distribution TOPICS: A-Head: Strategic

1. How do marketing channel decisions influence the rest of the marketing mix? ANSWER: Channel decisions are critical because they determine a products market presence and accessibility. Without marketing channel operations that reach the right customers at the right time, even the best goods and services will not be successful.

b. Retailers c. Merchants d. Industrial distributors e. Manufacturers' agents ANSWER: d POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.14.02 - LO: 14-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Strategy TOPICS: A-Head: The Role Of Marketing Channels In

DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.14.02 - LO: 14-02 NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Distribution TOPICS: A-Head: The Role Of Marketing Channels In Supply Chains KEYWORDS: Bloom's: Comprehension DIFFICULTY: Moderate LEARNING OBJECTIVES: MARK.PRID.16.14.02 - LO: 14-02 NATIONAL STANDARDS: United States -