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AGEC MARKETING WITH COMPLETE
SOLUTIONS!!
The American Marketing Association define marketing as - - Answers The activity, set of institutions, and processes for creating communicating, delivering, and exchanging offering that have value for customers, clients, partners, and society at large. Greg Williams now has the buying power to purchase the tractor that he has wanted for the last two years. Greg's want now has become a - Answers demand Which term refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs? - Answers marketing myopia What is the aim of product concept? - Answers focus on making continuous product improvements What is necessary for objectives set in a marketing plan? - Answers time-based, achievable, measurable What is the market/product combination characteristic for a Market Penetration growth strategy? - Answers Existing market and product
The key businesses of Kimberley and Price consist of a division that produces and sells breakfast cereals and another that manufactures gardening tools. Each of these businesses is called--- - Answers strategic business unit ROI - Answers (Net Return/Investment) x 100 What is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities.? - Answers Strategic Planning What are the 4 tradition p's of marketing? - Answers Price, Product, Place, Promotion Describe an actor in a microenvironment - Answers Customers, suppliers, competitors, and marketing intermediaries The same marketing strategy employed in one country will also always work in other countries - Answers False The premise of the selling concept is that customers, if left alone, will not buy enough of the organization's product. - Answers True The Marketing Concept has an inside-out view. - Answers False
Sonimod pizza came out with a new pizza and, before including it on its main menu, released it in two different cities with two different prices. The marketers at Sonimod pizza then analyzed the different levels of purchase made at these two different places, planning to use the information to help them set a nationwide price for the new offering. This is an example of ________. - Answers Experimental research John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify? - Answers Idea generation The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n) ________. - Answers Marketing information system When determining the product mix, marketers decide on the width, length, depth and ______ of the mix. - Answers Consistency A agro-chemical company in Indiana recently released a new and expensive anti-fungal seed coating in the market. The company justifies the high price of the coated seed by claiming that it is highly effective for treating all kinds of fungi. The company also claims that the new coating will help bring down the need for post-planting treatments, an additional benefit for farmers. Which of the following pricing strategies is the agro-
chemical company company most likely using in this instance? - Answers Value-based pricing Which of the following is NOT a part of the buyer decision process for B2C marketing? - Answers Order-routine specification What is the purpose of exploratory research? - Answers Gather preliminary information that will help define the problem and suggest hypotheses. Wayfinder, a company creating GPS devices for agricultural machinery, added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimal sales quota. Which of the following is LEAST likely to have been the cause of their failure? - Answers Product research was too extensive. All products are services but not all services are products. - Answers False The customer base for B2C marketing is typically smaller than for B2B marketing. - Answers False Monopolistic competition refers to a market where there are many buyers and sellers who trade over a range of prices because sellers can differentiate their offers to buyers. - Answers True
Tying agreements describe contract arrangements in which the retailer can choose to take as many or as few products of a line. - Answers False Vertical marketing system is a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity.
- Answers False Relative to brokers and agents and MSBO, merchant wholesalers are the smallest group of wholesalers for food products in terms of sales. - Answers False Product bundle pricing combines several products at a reduced price. - Answers True Omni-channel retailing describes a situation in which all channel components (e.g., online shopping, in-store purchases, etc.) are fully integrated with one another - Answers True ________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities. - Answers Intermediaries When KFC came into conflict with its franchisees over the brand's Unthink KFC repositioning, which emphasized grilled chicken over its traditional Kentucky fried chicken, KFC experienced ________ conflict. - Answers vertical
Food and Stuff Inc. produces canned foods, fruit cups and to-go soups. The CEO of Food and Stuff Inc. hopes to sell the products at a low price to penetrate the market quickly. Which of the following best supports a market-penetration strategy for Food and Stuff Inc.? - Answers The market for the products is highly price sensitive. Which of the following companies uses a direct marketing channel? - Answers Holly Wreaths, a store that sells Christmas ornaments to customers via its online click-to-order catalogs Previous PageNext Page In a bid to attract more customers in a market that has several competitors, Barrymore's Bakery slashed the prices of all its products by 50 percent. Managers at the firm reasoned that lower prices would draw in even more customers, making up for the reduction in price several times over. Which of the following pricing strategies are they using? - Answers market- penetration pricing ________ and ________ do not take title to goods, and they perform only a few channel functions. - Answers Brokers; agents Which of the following best describes a similarity between Costco and Walmart? - Answers Both use everyday low pricing. Pizza Bro is a leading competitor in the U.S. pizza market. The company intends to offer their pizza at below-cost prices for three months to put their competitors out of business. What type of illegal pricing practice describes their pricing plan? - Answers Predatory pricing
An ad for Heineken beer in the Men's Health magazine featured actor Arnold Schwarzenegger and offered readers a $5 rebate for each 20-pack purchased. In terms of the communication model, the medium of this message is ________. - Answers The men's health magazine Fred's Fertilizer's website, GrowFredGrow.com, informs customers about a wide variety of services offered by the firm. It also has a guestbook where customers can provide feedback on their experiences with Fred's Fertilizer. They can also view videos Fred's Fertilizer, as well as read and respond to blogs and ask questions. GrowFredGrow.com is an example of a(n) ________. - Answers Brand community website Which of the following is most likely an objective of informative advertising?
- Answers Suggest new uses for a product Delia's delicious cupcakes is a bakery chain focusing on cupcakes. The company runs coordinated promotions for its website, and physical stores. It uses the same models in its catalog, print ads, and website. Delia's works to make sure its public relations activities as well as its sales promotions harmonize with its advertising in all aspects. From this information, we can infer that Delia's is using ________. - Answers Integrated marketing communication An ad for Heineken beer in the Men's Health magazine featured actor Arnold Schwarzenegger and offered readers a $5 rebate for each 20-pack purchased. In terms of the communication model, the sender of this message is ________. - Answers Heineken
Trade shows most likely help companies to ________. - Answers Find new sales leads Hunting Inc. designs and markets different brands of camouflage wear watches. Each brand has a single unique feature: the Hunting South is known for the lightweight composition of the clothing, the Hunting Arctic is suitable for even the coldest climates and the Hunting casual combines hunting and casual wear. Which of the following is evident here? - Answers Product differentiation Ultra Tech Inc., a company manufacturing gardening tools, has decided to switch to a territorial sales force structure. Which of the following benefits is the company most likely to gain as a result of this decision? - Answers As each salesperson travels within a limited geographic area, travel expenses would decline. By using ________ to contact potential customers, marketers sell directly to consumers. - Answers Outbound telephone marketing When hiring a bad salesperson, the only cost to the company I have to worry about are the cost of recruiting a new salesperson once I have to replace them. - Answers False In a territorial sales force structure company's often have several levels of management that aggregate across wider geographical regions the higher the employee's position in this hierarchy. - Answers True
