BA 1100 - Module 4

Which of the following statements is true of a specialty store?

It sells a wide selection of merchandise within a narrow category.

Which of the following is a drawback of primary data?

It tends to be expensive.

In the context of the marketing mix, which of the following statements is true of a distribution strategy?

Its key decisions include shipping, warehousing, and selling outlets.

Which of the following is a key benefit of penetration pricing?

It tends to discourage competitors.I

Which of the following is a key marketing strategy of the maturity phase of a product life cycle?

Reducing spending

Which of the following is a feature of the growth stage of a product life cycle?

Rising sales

Which of the following statements is true of loss-leader pricing?

It is closely related to high/low pricing.

_____ is paid, nonpersonal communication, designed to influence a target audience with regard to a product, service, organization, or idea.

Advertising

_____ are distribution organizations that facilitate the movement of products from the producer to the consumer.

Channel intermediaries

Keitras is a women's apparel store that specializes in winter clothing. It targets university students aged 20-25 with its trendy collection of sweaters, sweatshirts, stockings, and stoles. In the context of consumer market segmentation, which of the following types of market segmentation does Keitras most likely follow?

Demographic segmentation

Which of the following is a form of nonstore retailing?

Direct selling

_____ is the process of continually collecting information from the external marketing surroundings.

Environmental scanning

_____ means establishing only one retail outlet in a given area.

Exclusive distribution

In the context of primary research tools, which of the following is an advantage of survey research?

It helps you secure information about what people are thinking and feeling.

_____ involves hiring independent contractors to sell products to their personal network of friends and colleagues and to recruit new salespeople in return for a percentage of their commissions.

Multilevel marketing

EatOut is a food joint that serves pizza, while GlowBelle is a luxury beauty salon that sells cosmetics. What do EatOut and Glow Belle have in common?

Their products are a mix of goods and services.

An example of a pure good is:

a dual-colored reversible jacket.

In the context of market segmentation, a well-chosen target market should have _____.

an appropriate size

The goal of the _____ of a product is to deliver the product to the right people, in the right quantities, at the right time, in the right place.

distribution strategy

The biggest advantage of publicity is that:

it is usually credible.

In the context of distribution strategies, _____ means placing your products only with preferred retailers.

selective distribution

In the context of consumer product categories, both producers and retailers are apt to promote _____ but to a highly targeted audience.

specialty products

The purpose of a positioning statement of a company is to:

articulate how the company would like the target market to envision a product relative to the competition.

The fixed cost of Brendon Willows, a baseball bat manufacturing company, is $500,000 per year. The cost of wood and labor to manufacture one bat is $5. If the customers pay $25 to buy one bat, how many bats does Brendon Willows need to sell to breakeven?

b. 25,000

Business-to-business (B2B) _____ refers to dividing the market based on the characteristics of buyers.

behavioral segmentation