stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
BADM 321 Marketing Module 3 Test Prep Flashcards | StudBud
Explore
/
BADM 321 Marketing Module 3 Test Prep
BADM 321 Marketing Module 3 Test Prep
30 terms
·
StudBud Administration
·
34 plays
Imported from external platform
Flashcards
30 cards
F
Practice quiz
P
Host live
L
Questions
30
Answers
1
Identify a statement that is true of status quo pricing
It requires serious planning and is difficult to implement
It can lead to a pricing disaster
It leads to optimal pricing of a product
It focuses on the demand for and the costs of a product
2
Thumbs Up sells soft drinks, juices, different types of waters, sports drinks, energy drinks, and teas. This is called a
product line depth
product line
product mix
product mix width
3
Allure makes bath and beauty products and predominantly sells convenience products. Name an element of their products
They will be more expensive than shopping products
They require wide distribution in order to sell sufficient quantities
They are purchased after more planning effort than specialty products
They are bought very rarely by consumers
4
Which statement is true of supply chain management?
It gives assembly line employees total control of materials processes
Enables supply chain managers to focus on pushing products down the channel
Enables supply chain managers to respond quickly to sudden changes
It reflects a completely employee-driven management philosophy
5
The term PRODUCT refers to all of the following EXCEPT
ideas
marketing intelligence
services
tangible goods
6
Which of the following is a difference between an off price retailer like Marshals and a department store like Dillard's
Marshalls keeps a greater amount of floor stock
Marshalls focuses on lean inventory management
Marshalls charges customers higher prices
Marshalls focuses on providing high quality customer service
7
Return on investment (ROI) for a firm is
a measure of the firm's effectiveness in generating profits
lower than the previous year if the firm has performed better in the market
the firm's total assets multiplied by net profits after taxes
the margin of profit earned by the firm inclusive of taxes payable
8
The string of business entities, interior and exterior to the company, that support the logistics function is called
reshoring
outsourcing
radio frequency identification (RFID)
a supply chain
9
Compared to convenience products, shopping products are
less expensive
purchased without significant planning
found in fewer stores
new products unknown to a potential buyer
10
Supply chain agility includes all of the following activities EXCEPT
increasing supply chain complexity
sharing of supply and demand market info
eliminating unwanted products to achieve efficiency
focusing on activities that create direct customer benefits
11
Which of the following describes sales and operations planning (S&OP) meetings?
Procurement and logistics work together with marketing and production
Marketing and sales work with procurement and logistics, not production
Marketing and sales work with production and logistics, not procurement
Procurement, production, and logistics work together with marketing & sales
12
Neda runs a stock market firm. The firm advises its clients on where to invest to earn max profits. Neda provides _____
a service
branding
concepts
profits
13
When developing a new product, which is true of a new-product development strategy?
It must work with the objectives of the company and marketing department
It doesn't provide the general guidelines for new product ideas
It involves targeting existing products at new markets
It refrains adopting ideas suggested by customers and competitors
14
When evaluating service quality, which statement is true of reliability?
It involves providing prompt service to customers
It is performing the service right the first time
It involves being caring and paying attention to customers individually
It refers to the knowledge and courtesy of employees
15
Which of the following is true of the current retail industry?
Most current retail employees are dissatisfied with their jobs
The industry is dominated by many large companies
Most retail businesses employ less than 50 people
About one in every ten American jobs is in the retail industry
16
When evaluating service quality, _______ refers to the knowledge of employees and their ability to create trust
assurance
responsiveness
tangibility
heterogeneity
17
The service sector is important for all the following reasons EXCEPT
trade in services can provide traditional and new export opportunities
services provide jobs
services make an important contribution to the GDP in most countries
services produce many types of goods
18
The assertion price is that which is given up to get a good or service indicates which of the following effects of price
The quality effect of price
The perceived satisfaction effect of price
The sacrifice effect of price
The information effect of price
19
Which of the following represents all activities related to the sale of goods and services to nonbusiness customers?
Manufacturing
Product development
Production
Retailing
20
When considering the new product development process, which of the following statements is true of screening?
Involves getting consumer reactions to visual representations of a product
Involves making cosmetic or functional changes to existing products
It calculates preliminary figures for demand, cost, sales, and profit
It eliminates ideas that are missing from a companies new product strategy
21
Which of the following refers to everything that a person receives in an exchange?
Product
Distribution
Design
Promotion
22
Which of the following statements is true of the demand management process?
It increases costs as it invloves serving multiple types of customers
It focuses on providing a quick positive response to negative feedback
Demand management can ease pressure on the production process
It involves creating customer focused plans of action prior to actual sales
23
Which of the following is an example of heterogeneity of services?
The doctors in Miami used the same surgical instruments as the NY doctors
The tire I bought came with a discount but lasted as long as another tire
The customer service agent who I spoke with before was more helpful
The packaging and design of the pizza was made of recyclable paper
24
For which type of products are concept tests thought to be less effective in predicting the success of a product?
Products that create new consumption patterns
Products that are not easily classified into existing product categories
Products that are line extensions (same product category and brand)
Products that do not require major changes in consumer behavior
25
Large retailers like Target play a significant role in providing all of the following EXCEPT
global employment
customized service
online shopping
domestic employment
26
Which of the following statements describes a customer innovation center?
It promotes advertising among status-conscious customers
Used in the business analysis stage of the new product development process
It is an approach to repositioning a company's products using sales figures
Meeting with customers and involving them in the innovation process
27
A company's product sales as a percentage of total sales for that industry for the same types of product are known as
profit
market share
revenue
return on investment
28
Which of the following is an advantage of simultaneous product development?
It eliminates the need for conducting lab tests on product prototypes
It shortens the development process and reduces costs
It ensures that product development occurs in highly structured stages
It eliminates the need for test marketing a new product
29
Dollar General offers merchandise that ranges from cleaning products to cereal to birthday cards. Dollar General is a ?
Full line discount store
Supermarket
Department store
Warehouse club
30
Consumers determine value of the product on the basis of
what other people buy
discounts availed
perceived satisfaction
the opportunity cost to buy the product
