AC 114 (test 3 and 4)

What do the BRIC countries have in common?

They are experiencing significant levels of economic growth.

in the ethical decision-making metric, the question that asks "would I want the person I admire most to see me doing this?" applies to the

admired observer test

the goals of IMC need to

be explicit and measurable

As the number of communication media has increased, the task of understanding how best to reach target customers has

become easier

suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort. You are engaged in ___, a form new idea generation

brainstorming

the point at which number of units sold generates enough revenue to equal the total

break-even point

variable costs change with

changes in the quantity being produced

all of the following are included in the five C's of pricing except

collaboration

in the IMC communication process, the ___ is the medium that carries the message

communication channel

When firms set prices similar to those of competitors, they are following a strategy of

comparative parity

in general, prices should not be based on costs because

consumers make their purchase decisions based on perceived value

in integrated marketing communications, encoding involves

converting the sender's ideas into a message

For every consumer who purchases a pair of TOMS shoes for $55.00, the company promises that a needy child will receive a pair of shoes. TOMS shoes is actively engaging in

corporate social responsibility

compared with other methods used to set prices, ___ pricing is relatively simple

cost-based

___ refers to the process by which the receiver interprets the sender's message

decoding

Typically, manufacturers and retailers exchange business documents through a(n) __________ system, the computer-to-computer exchange of business documents from a retailer to a vendor and back.

electronic data interchange

Radio Frequency Identification (RFID) tags are

electronic discount information tags used to provide reduced prices to select customers

When the value of the dollar declines in relation to other currencies, it benefits U.S. marketers who

export goods to other countries

When entering a foreign market, the least risky strategy is

exporting

Some retailers require their suppliers to ship merchandise ___________, thus eliminating the time and expense associated with ticketing and marking.

floor-ready

the goal of any marketing communication is to

get the right message to the right audience through the right media

in a(n) ____ pricing strategy, marketers rely on the promotion of sales, during which prices are temporarily reduced to encourage purchases

high/low

in an ___ marketing channel, several independent members each attempt to satisfy their own objectives and maximize their profits, often at the expense of the other members

independent

when considering global marketing opportunities in Bangladesh, Tom asked the question, "How will it get there?" Tom is concerned about _____ capabilities in Bangladesh

infrastructure

all of the following steps are steps in the AIDA model except

intention

predatory pricing

is legal in the US when a company wants to set a very low price to drive its competition out of business

A strategy of setting prices based on how customers develop their perceptions of value can often be the most effective pricing strategy, especially if the strategy

is supported by consistent advertising and distribution stages

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain?

it can purchase coffee beans from suppliers who pay coffee growers a fair price

____ offer an inconsistent assortment of brand-name merchandise at low prices

off-price retailers

____ is the term used to describe the situation when retailers use some combination of stores, catalogs, and the internet to sell merchandise

omnichannel retailing

in diffusion of innovation process, innovators enjoy taking risks and are regarded as highly knowledgeable. Marketers want to identify innovators because

other consumers defer to their judgement, creating the opportunity for word-of-mouth referrals

which element of the marketing mix specifically deals with supply chain management

place

when marketers establish a price floor and a price ceiling for an entire line of similar products and then set price points in between for differences in quality among the products, they are using a

price lining

Tariffs, quotas, and currency exchange policies affect global

pricing strategies

The complete set of all products offered by a firm is called its

product mix

integrated marketing communications represents the ____ element in the four P's of a firm marketing mix

promotion

a ______ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products

quota

all of the following are benefits of new product development to a firm except

reducing the cost of production

When Costco sells to consumers directly, it acts as a _______; when it sells to other businesses, such as a restaurant owner, it acts as a _______.

retailer; wholsaler

___ is another term for private-label brands

store brands

According to a typical demand curve, the higher the price,

the lower the quantity consumers will buy

GDP is defined as

the market value of goods and services produced in a country in a year

in marketing's price four P's, place refers to all activities required to get

the right product to the right customer when that customer wants it

one important reason manufacturers like rebates is that:

their redemption rates are low

all of the following are questions posed in the ethical decision-making metric except

will this action help advance my career?

Today, many developed countries are experiencing __________ population growth.

zero or negative