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Marketing test 2 review 3
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Chapters 10 and 12
A manufacturer of athletic equipment is finding it difficult to compete with cheaper imported merchandise. Which of the following is a potential source of new product ideas?
Current retailers who carry the manufacturer's equipment
Its foreign competitors
All of the above
Companies that are most likely to succeed in the development and introduction of new products typically:
Do all of the above
Capitalize on experience to achieve and maintain competitive advantage
Use a company-specific approach that is driven by corporate objectives and strategies with a we--defined new-product strategy at its core
Make the long-term commitment needed to support innovation and new-product development
Establish an environment conducive to achieving new-product objectives
A global organization that "thinks global, acts local"
Adopts a policy of international standardization
Does not engage in product line extension in countries where existing products are well-received
Adheres to a sales orientation
Gives country managers more autonomy in new-product development
The _____ adopt a product because most of their friends have already done so, and their adoption is usually the result of pressure to conform because they rely on group norms.
_____ is the joint effort of all channel members to create a supply chain that serves customers and creates a competitive advantage.
_____ distribution occurs when a producer selects two or more different channels to distribute the same products to target markets.
Manufacturers who outsource their transportation function are seeking all the following EXCEPT:
On-time delivery and pickup at competitive rates
Reliability with less damage
More carriers and more services from these additional carrier alternatives
Electronic communications that reduce delays and errors and provide information with less paperwork
Systems for tracing and tracking shipments every step of the way
Agents and brokers:
Generally are on salary with the manufacturer
Do not take title to merchandise
Have a great deal of control and risk invested in the goods
After years of phenomenal growth, many food franchisers are branching out from traditional single-purpose stores. One of these innovators is Taco Bell. Taco Bell, a division of Yum Brands, is selling its Mexican-style fare at kiosks and movable carts in malls, at the corner gasoline station, on supermarket shelves, even in school-lunch programs. In only a few years, it has more than quintupled its points of access. And it has barely begun its expansion. By the end of the decade, it aims to have 200,000 outlets, most will be nontraditional, and their success will depend on location and operating efficiency. In one of many moves to create peak operating efficiency, Taco Bell has hired an outside company to cut and slice the lettuce, tomatoes, and onions it uses in the preparation of food. Taco Bell's new direction produces greater convenience for consumers, heightens competition for some established-brand marketers, and creates a potential nightmare for franchisees.
Refer to Taco Bell. Beef producers, vegetable growers, Taco Bell, and consumers are part of a:
What can the marketers of consumer products expect to find when they study and apply the product life cycle theory to their products?
Changes in a product can change its life cycle.
All products except those considered faddish go through every stage.
The lengths of time that products stay in any one stage is standardized for consumer products, but not industrial products.
Which of the following products is most likely to be in the decline stage of its product life cycle?
Audio Cassette tapes
One configuration of a marketing channel entails producers selling to consumers with no intermediaries involved. This is called a(n):
A _____ is a business structure of interdependent organizations that reaches from the point of product origin to the consumer.
Marketing mix intermediary
Selective distribution channel
Marketing channel or Channel of Distribution
In which logistical component of the supply chain will you find electronic data interchange a common feature?
Kiell is the manager of a small, private firm that manufactures cork board. He decided NOT to enter the global market. His decision was probably primarily based upon:
Lack of common languages and cultures among global customers
Uncertainties regarding global logistics
Inappropriateness of your gear products overseas
A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products.
New product development
The first filter in the product development process, which eliminates ideas that are inconsistent with the organizationís new product strategy or are obviously inappropriate for some other reason.
A test to evaluate a new product idea, usually before any prototype has been created.
The second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated.
The limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation.
Simulated (laboratory) market testing
A consumer who was happy enough with his or her trial experience with a product to use it again.
A biological metaphor that traces the stages of a productís acceptance, from its introduction to its decline.
Consumer life cycle
Product life cycle
Adaptor life cycle
All parties in the marketing channel that negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer.
The connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function.
The difference between the amount of product produced and the amount an end user wants to buy.
Discrepancy of quantity
Discrepancy of assortment
The lack of all the items a customer needs to receive full satisfaction from a product or products.
Discrepancy of Assortment
Discrepancy of Quantity
A situation that occurs when a product is produced but a customer is not ready to buy it.
Discrepancy of quantity
The difference between the location of a producer and the location of widely scattered markets.
Discrepancy of Quantity
An institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them.
Agents and Brokers
A channel intermediary that sells mainly to consumers
Agents and brokers
The process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption.
A distribution channel in which producers sell directly to consumers
Strategic Channel Alliance
Supply chain channel
A cooperative agreement between business firms to use the otherís already established distribution channel.
Strategic channel alliance
A management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, resulting in enhanced customers and economic value.
Supply Chain management
An inventory control system that manages the replenishment of goods from the manufacturer to the final consumer.
Distribution Resource Planning
Inventory control system
A channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer.
A channel conflict that occurs among channel members on the same level.
A situation that occurs when one marketing channel member intentionally affects another memberís behavior.
A method of moving inventory into, within, and out of the warehouse.
Electronic Data Interchange
Inventory control system
Materials Handling System
A method of developing and maintaining an adequate assortment of materials or products to meet a manufacturerís or a customerís demand.
Inventory Control System