MARK 231 (ch. 17-20)

Use premium pricing for its products

A company trying to position itself as value oriented should not

The initial demand is highly inelastic

A price-skimming strategy assumes that

It is sold at less than original cost in the hope that sales of other products will increase

A product is a price leader when

Evaluate whether each prospect is able, willing, and authorized to buy the product

After compiling a list of potential customers, a salesperson must

Headline

An ad's _____ is designed to attract readers' attention and develop interest so that they will read the entire advertisement

Basic issue or selling point that an advertiser wishes to include in an advertising campaign

An advertising platform is the

Cost of producing = The revenue from selling

At the break even point the

deceptive pricing

Both the Federal Trade Commission Act and the Wheeler-Lea Act prohibit

Brands that are attempting to compete with market leaders

Brands that are promoting through comparative advertising are most likely to be

Used when costs and revenues are secondary to competitors' prices

Competition-based pricing is

How important price will be to customers

Competitors' prices, along with the marketing variables they emphasize, are determining factors in

creating sales territories

Customer density and distribution are important factors in

An organized set of activities performed continuously

Effective motivation of a sales force is best achieved through

Cost plus

For custom-made equipment or commercial construction projects, which pricing method is most likely used?

An external reference price

Lucy buys a new dress at T.J. Maxx that has a price tag with "Compare at $150.00. Our Price $89.99." This is an example of the use of

negotiated pricing

Maria recently put her house on the market at an asking price of $260,000. She realizes, however, that in order to sell the house, she may have to use

Overall Marketing

Marketers must take steps to make sure that the pricing objectives they set are consistent with the organization's _____ objectives and _____ objectives.

technical salesperson

Nick is a salesperson for DuPont. His college degree is in engineering, with a minor in physical science. Nick is most likely a(n)

The value paid for a product in a marketing exchange

Paid is

personal selling

Paid personal communication that attempts to inform and persuade customers to purchase products in an exchange situation is called

keeping customers satisfied

Personal selling goals include finding prospects, convincing prospects to buy, and ?

The generation of total revenue

Price is a key element in the marketing mix because it relates directly to

Most flexible

Price is considered to be the variable in the marketing mix that is

To boost market share

Price wars tend to be disadvantageous to retailers. Why, therefore, would a retailer want to lower prices and take the chance of inciting a price war?

Near the end

Recruiting and selection of salespeople should include enough steps to yield the information needed to make accurate selection decisions. However, the stages of the process should be sequenced so that the more expensive steps are

Pricing a product at a moderate level and positioning it next to a more expensive model or brand

Reference pricing is

The current users of a particular product

Reinforcement advertising is primarily targeted at

Survival

Running a big sale in order to generate enough cash to generate enough cash flow to pay creditors is typical in a situation in which a firm's primary pricing objective is

The total sales force and for each sales person

Sales force objectives are generally established for

nonprice competition

Sellers that emphasize distinctive product features to encourage brand preferences among customers are practicing

Product Category Pioneer

The "Got milk?" print campaign is advertising that stimulates demand for a ____, known as ____ advertising.

An agreement among competitors that raise, lowers, or stabilizes prices or competitive terms

The Sherman Act prohibits price fixing. Price fixing is

Differential

The fact that senior citizens are charged a lower price at movie theaters than younger adults is an example of _____ pricing.

Cost plus

The federal government often uses _____ pricing when it grants defense contracts.

follow up

The final stage of the selling process is

Identifying the advertising target audience

The first stage in the development of any advertising campaign is

Evaluating the effectiveness of advertising

The last stage in the development of any advertising campaign is

The approach

The step of the personal selling process in which a salesperson contacts a potential customer is called

people toward whom the advertisements are directed

The target audience for an advertising campaign is the

pulsing, continuous, and flighting

The three general types of media schedules are

Demand, competition, and cost

The three primary bases for developing prices are

Pioneer & Competitive

The two major types of product advertising are

Product Price Promotion Distribution

What are the 3 P's and a D of marketing?

Find what they want and sell it to them

What is the marketing concept?

Product Price Promotion Distribution

What is the marketing mix?

Status quo

What type of pricing objective would an organization use if it were in a favorable position and desired nothing more?

Bundle pricing

When Mia and Shane are planning their honeymoon, their travel agent tells them that if they buy a special package, their trip to Paris will include meals, tickets to the theater, and a rental car in addition to airfare and a hotel. This is an example of the use of

Advocacy

When a company promotes its position on a public issue, this is specifically referred to as______

Statement of advertising objectives

When developing an advertising campaign, benchmarks need to be included in the

develop pricing objectives

When establishing prices, a marketer's first step is to

Product quality

Which pricing objectives de-emphasizes price and can lead to a climate of nonprice competition in an industry?

Market share

Which type of pricing objective can reduce a firm's risk by helping to stabilize demand for its products?

Closing

the _____ stage of the personal selling process is when the salesperson asks the prospect to buy the product