Marketing Final

What are the primary advantages and disadvantages of a franchise arrangement for a franchisee? How about a franchisor?

Franchising is an arrangement in which a supplier, or franchiser, grants a dealer, or franchisee, the right to sell products in exchange for some type of consideration. the franchiser may receive a percentage of total sales in exchange for furnishing equipment, buildings, management know-how, and marketing assistance to the franchisee. The franchisee supplies labor and capital, operates the franchised business, and agrees to abide by the provisions of the franchise agreement. Franchising offers several advantages to both the franchisee and the franchiser. It enables a franchisee to start a business with limited capital and benefit from the business experience of others. Franchised outlets are generally ore successful than independently owned businesses. Generally speaking, franchises have lower failure rates than independent retail establishments. However, franchise failure rates vary greatly depending on the particular franchise. Nationally advertised franchises, such as Subway and Burger King, are often assured of sales as soon as they open because customers already know what to expect. If business problems arise, the franchisee receives materials to use in local advertising and can benefit from national promotional campaigns sponsored by the franchiser. Through franchise arrangements, the franchiser gains fast and selective product distribution without incurring the high cost of constructing and operating its own outlets. The franchiser, therefore, has more available capital for expanding production and advertising. It can also ensure, through the franchise agreement, that outlets are maintained and operated according to its own standards. Some franchisers do permit their franchisees to modify their menus, hours, or other operating elements to better match their target market's needs. The franchiser benefits from the fact that the franchisee, being a sole proprietor in most cases, is likely to be very highly motivated to succeed. success of the franchise means more sales, which translates into higher income for the franchiser. Franchise agreements also have several drawbacks. The franchiser dictates many aspects of the business: décor, menu, design of employees' uniforms, types of signs, hours of operation, and numerous details of business operations. In addition, franchisees must pay to use the franchiser's name, products, and assistance. Usually, there is a one time franchise fee and continuing royalty and advertising fees, often collected as a percentage of sales. Franchisees often must work very hard, putting in 10-12 hour days six or seven days a week. In some cases, franchise agreements are not uniform, meaning on franchisee may pay more than another for the same services. The franchiser gives up a certain amount of control when entering into a franchise agreement. Consequently, individual establishments may not be operated exactly according to the franchiser's standards.

A company wanting to maintain market share during the maturity stage requires moderate and sometimes large 1. Advertising expenditures 2. Distribution expenditures 3. Production expenditures 4. Price increases 5. Packaging modifications

1. Advertising expenditures

A phase out approach can be best described as : 1. Allowing the product to decline without a change in the marketing strategy 2. Exploiting any strength left in the product 3. Immediately dropping the product from the product mix 4. Intensifying marketing efforts in core markets 5. Stopping production to get rid of material surplus

1. Allowing the product to decline without a change in the marketing strategy

During the growth stage of the product life cycle, the marketer should 1. Fortify the product position 2. Move to exclusive distribution 3. Raise the price 4. Increase promotion as a percentage of sales 5. None of these

1. Fortify the product position

Changes that affect a product's versatility, effectiveness, convenience, or safety are called _____________ modifications 1. Functional 2. Formal 3. Style 4. Quality 5. Package

1. Functional

List and discuss the seven phases of the new-product development process.

1. Idea generation - product ideas that will help org achieve objectives 2. Screening - ideas with the greatest potential are selected for further review 3. Concept Testing - a small sample of potential buyers is presented with a product idea through a written or oral description (and perhaps a few drawings) to determine their attitudes and initial buying intentions regarding the product 4. Business analysis - the product idea is evaluated to determine its potential contribution to the firm's sales, costs, and profits. Analysts ask questions - demand strong enough? 5. Product development - determines if it is technically feasible to product the product and if it can be produced at costs low enough to make the final price reasonable 6. Test marketing - limited introduction of a product in geographic areas chosen to represent the intended market 7. Commercialization - deciding on full-scale manufacturing and marketing plans and preparing budgets

Managing a product in the growth stage of its life cycle might include 1. Lowering prices after developmental costs have been recovered 2. Raising promotion expenditures as a percentage of total sales as sales increase 3. Moving from intensive to selective product exposure 4. Reducing the number of product models in the product line 5. None of these

1. Lowering prices after developmental costs have been recovered

A situation whereby market is expanded by developing new products to satisfy new consumer needs is called _____________________ 1. Market development 2. Diversification 3. Both 1 and 2 4. Neither 1 nor 2 5. None of these

2. Diversification

The level of commitment that consumers feel towards a given brand is called ______________ 1. Brand equity 2. Brand name 3. Brand loyalty 4. Brand utility 5. None of these

3. Brand loyalty

During which stage of new product development does the firm consider profitability? 1. Idea Generation 2. Testing 3. Business Analysis 4. Product Development 5. Compatibility research

3. Business Analysis

A major problem with using style modification is that : 1. Customers have difficulty recognizing that a change has been made 2. Such changes do not yield long lasting appeal 3. Customers may perceive such modifications as less attractive 4. They are almost always very costly 5. None of these

3. Customers may perceive such modifications as less attractive

Compared with other phases of the new product development process, the largest number of new product ideas are rejected during the ___________ phase 1. Idea generation 2. Concept testing 3. Business analysis 4. Screening 5. Test marketing

4. Screening

During the maturity stage 1. Product modifications are unnecessary 2. There is less emphasis on changing a product's price 3. Marketing strategies are rarely altered 4. Some competitors are forced out 5. None of these

4. Some competitors are forced out

The Nike swoosh that is prominent on all of the firm's packaging, products, and advertising is a a. trade character b. brand c. trademark d. brand design

? brand mark according to the book

How do marketing channel decisions influence the rest of the marketing mix?

A marketing channel is a group of individuals and organizations that direct the flow of products from producers to customers within the supply chain. The major role of marketing channels is to make products available at the right time at the right place in the right quantities. This is achieved through achieving synergy among operations management, logistics management, and supply management. Providing customer satisfaction should be the driving force behind marketing channel decisions.

What is brand equity, and what are the major elements that underlie brand equity?

Brand equity is the marketing and financial value associated with a brand's strength in a market. Besides the actual proprietary brand assets, such as patents and trademarks, four major elements underlie brand equity: brand name awareness, brand loyalty, perceived brand quality, and brand associations.

Explain the communication process.

Communication is a sharing of meaning. The communication process involves several steps. First, the source translates meaning into code, a process known as coding or encoding. The source should employ signs or symbols familiar to the receiver or audience. The coded message is sent through a communications channel to the receiver or audience. The receiver or audience then decodes the message and usually supplies feedback to the source. When the decoded message differs from the encoded one, a condition called noise exists. Source - Coded Message - Communications Channel - Decoded Message - Receiver or audience Feedback - the receiver's response to a decoded message

Explain the concept "push-pull" when referring to digital marketing as a new distribution channel. Provide an example of each.

Distribution involves a push-pull dynamic: the firm that provides a product will push to get that product in front of the consumer, while at the same time connectivity aids those channel members that desire to find each other - the pull side of the dynamic. I.e. an iphone application can help consumers find the closest starbucks, mcdonalds, or kfc. on the other hand, a blog or twitter feed can help a marketer communicate the availability of products and how and when they can be purchased. This process can help push products through the marketing channel to consumers or enable customers to pull products through the marketing channel.

Explain the roles of "promises" and "trust" in successful marketing of a service. Provide an example of each.

Don't promise too much. Coming through on promises builds trust.

Describe the various methods used to evaluate the advertising effectiveness after a campaign.

Measuring achievement of advertising objectives; assessing effectiveness of copy, illustrations, or layouts; evaluating certain media.

Compare and contrast price skimming and penetration pricing. Provide an example of each.

Price skimming - charging the highest possible price that buyers who most desire the product will pay. Skimming the cream. Recover the costs of R&D more quickly. Hold demand while production is limited. May make the product appear more lucrative than it actually is to potential competitors. misjudging demand and facing insufficient sales at the high price. Penetration pricing - setting prices below those of competing brands to penetrate a market and gain a significant market share quickly. Build market share quickly to encourage product trial and discourage competitors from entering the market. May be able to order longer production runs, increasing economies of scale and resulting in decreased production costs per unit. Places firm in less flexible pricing position. More difficult to raise prices than to lower them.

Identify the major stages of the product life cycle, and explain how industry sales and profits vary across these stages.

The product life cycle describes how product items in an industry move through four stages: introduction, growth, maturity, and decline. The sales curve is at zero at introduction, rises at an increasing rate during growth, peaks during the maturity stage, and then declines. Profits peak toward the end of the growth stage of the product life cycle.

Identify and describe the three kinds of specialty stores. Provide examples.

Traditional specialty retailers, category killers, and off-price retailers Traditional specialty retailers - stores that carry a narrow product mix with deep product lines. apparel, jewelry, sporting goods, fabrics, computers and pet supplies. Gap and Foot Locker Category Killers - a very large specialty store that concentrates on a major product category and competes on the basis of low prices and product availability. Home Depot, Lowe's, Staples, Office Depot, Barnes and Noble, Petco, Petsmart, Best Buy. Online retailing has also placed pressure on category killers and taken away market share in recent years. Off-Price Retailers - stores that buy manufacturers' seconds, overruns, returns, and offseason merchandise for resale to consumers at deep discounts. limited lines of national-brand and designer merchandise, usually clothing, shoes, or housewares. Name brand goods at discount prices. TJ Maxx, Marshalls, Stein Mart, Burlington Coat Factory

A product line extension refers to development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs. T/F

True

Explain the major stages of the product adoption process. Provide an example for each stage.

When customers accept a new product, they usually do so through a five-stage adoption process. The first stage is awareness, when buyers become aware that a product exists. Interest, the second stage, occurs when buyers seek information and are receptive to learning about the product. The third stage is evaluation; buyers consider the product's benefits and decide whether to try it. The fourth stage is trial; during this stage, buyers examine, test, or try the product to determine if it meets their needs. The last stage is adoption, when buyers actually purchase the product and use it whenever a need for this general type of product arises.

The basic function of promotion is a. manipulation b. communication c. interpretation d. image enhancement

b. communication

An example of a convenience product is a. stereo equipment b. gasoline c. a motorcycle d. a bicycle e. athletic shoes

b. gasoline

Price strategies become more mixed during the _____ stage of the product life cycle. a. growth b. maturity c. decline d. introduction e. late introduction

b. maturity

A firm might temporarily sell products below their cost in order to a. increase profits and revenues b. remove excess inventory c. raise cash or reduce market share costs d. all of the above

d. all of the above

The following is a stage for establishing price a. determination of demand b. selection of pricing strategy c. assessment of target market's evaluation of price d. all of the above

d. all of the above

People who enjoy trying new products and are often the first to do so are known as a. the early majority c. market mavericks d. innovators e. laggards

d. innovators

Face-to-face communication such as product sampling and personal selling provides marketers with a. the highest quality feedback. b. nonverbal feedback only. c. verbal feedback only. d. instant feedback. e. highly coded feedback.

d. instant feedback.

What are the factors that marketers should consider while selecting a brand name?

1. The name should be easy for customers (including foreign marketers if offered globally) to say, spell, and recall. Short, one-syllable names, such as Cheer, often satisfy this requirement. 2. The brand name should indicate the product's major benefits and should suggest in a positive way the product's uses and special characteristics; negative or offensive references should be avoided. (ie Vanish toilet bowl cleaner, Cascade dishwasher detergent) 3. Set it apart from competing brands, the brand should be distinctive. (ie Google changed Blogger and Picasa to Google Blogs and Google Photos) The brand needs to be compatible with all brands in the line. 4. A brand should be designed so that it can be used and recognized in all types of media.

Describe the eight stages of the process that marketers can use to establish prices.

1. development of pricing objectives 2. assessment of target market's evaluation of price 3. determination of demand 4. analysis of demand, cost, and profit relationships 5. evaluation of competitors' prices 6. selection of a basis for pricing 7. selection of a pricing strategy 8. determination of a specific price

Which step in developing new products involves determining whether the product idea is compatible with company objectives, needs, and resources on a general level ? 1. Product Development 2. Screening 3. Idea Generation 4. Business Analysis 5. None of these

2. Screening

In product modification, the FIRST issue to consider is whether : 1. The cost of the modification is too high 2. The product is modifiable 3. The quality is modifiable 4. The modification will provide the customer greater satisfaction 5. None of these

2. The product is modifiable

Compare and contrast a line extension and a product modification. Provide an example of each.

A line extension is the development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs. A line extension refers to using an existing brand on a new product in the same product category, such as new flavors of sizes. If a brand is extended too many times or extended too far outside its original product category, the brand can be weakened significantly. Product modification means changing one or more characteristics of a product. A product modification differs from a line extension because the original product does not remain in the line. For example, automakers use product modifications annually when they create new models of the same brand. Once the new models are introduced, the manufacturers stop producing last year's model. Like line extensions, product modifications entail less risk than developing new products.

What is an advertising platform? What is the best way to develop a platform?

Advertising platform - basic issues or selling points to be included in an advertising campaign. An advertising platform consists of the basic issues or selling points that an advertiser wishes to include in the advertising campaign. One of the best ways to determine the issues important to customers is to survey customers about what they consider most important in the selection and use of the product involved. Selling features must not only be important to customers, they should also be strongly competitive features of the advertised brand. Although research is the most effective method for determining what issues to include in an advertising platform, customer research can be expensive. Best Buy - if you buy new technology now, it will buy it back when it is time to upgrade.

What is brand loyalty? Explain the three degrees of brand loyalty.

Brand loyalty is a customer's favorable attitude toward a specific brand. The three degrees of brand loyalty are recognition, preference, and insistence. Branding recognition occurs when a customer is aware that the brand exists and views it as an alternative purchase if the preferred brand is unavailable or if the other available brands are unfamiliar. It is the mildest form of brand loyalty. Brand preference is a stronger degree of brand loyalty. A customer definitely prefers one brand over competitive offerings and will purchase this brand if it is available. However, if the brand is not available, the customer will accept a substitute brand rather than expending additional effort finding and purchasing the preferred brand. When brand insistence occurs, a customer strongly prefers a specific brand, will accept no substitute, and is willing to spend a great deal of time and effort to acquire that brand.

Identify and describe the three types of product-line pricing. Provide examples.

Captive pricing - pricing the basic product in a product line low, but pricing related items at a higher level. printer ink- printer low, replacement ink high Premium pricing - pricing the highest-quality or most-versatile products higher than other models in the product line. small kitchen appliances, beer, ice cream, and tv cable services. Price lining - strategy of selling goods only at certain predetermined prices that reflect definite price breaks. clothing and accessories. eliminates minor price differences from the buying decision - both for managers who buy merchandise and consumers

Define the characteristics that distinguish e-marketing from traditional marketing.

E-marketing is the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing.

What are the components of a print ad? What are the functions of each component? Pick an example and comment on each component.

Headline, Body Copy, Illustration, Signature

What functions do packages perform? What are the factors marketers should consider when developing packages? Provide an example of a particularly well designed package and comment on its attributes.

Package Functions 1. Packaging materials serve the basic purpose of protecting the product and maintaining its functional form. Fluids such as milk and orange juice need packages that preserve and protect them. Packaging should prevent damage that could affect the product's usefulness and thus lead to higher costs. 2. Packaging offers convenience to consumers. Small, aseptic, packages - individual size boxes or plastic bags that contain liquids and do not require refrigeration - strongly appeal to children and young adults with active lifestyles. The size or shape of a package may relate to the product's storage, convenience of use, or replacement rate. Small, single serve products may prevent waste, make storage easier, and promote greater consumption. 3. Packaging promote a product by communicating its features, uses, benefits, and image. Sometimes a reusable package is developed to make the product more desirable. For example, the Cool Whip package can be reused as a food-storage container. Factors 1. Cost 2. How much consistency is desirable among an organization's package designs. ie Campbell's Soup - family packaging 3. The packaging's promotional role. Inform consumers about the content, features, uses, advantages, and hazards.

What is supply chain management? List the activities involved in it.

Supply chain management is a set of approaches used to integrate the functions of operations management, logistics management, supply management, and marketing channel management so products are produced and distributed in the right quantities, to the right locations, and at the right time. The supply chain includes all entities - shippers and other firms that facilitate distribution, producers, wholesalers, and retailers - that distribute products and benefit from cooperative efforts. Operations management is the total set of managerial activities used by an organization to transform resource inputs into goods, services, or both. Logistics management involves planning, implementing, and controlling the efficient and effective flow and storage of goods, services, and information from the point of origin to consumption in order to meet customers' needs and wants.

Identify and describe the four major promotion mix elements. Provide examples.

Promotion is communication that builds and maintains favorable relationships by informing and persuading one or more audiences to view an organization positively and accept its products. A promotion mix is a combination of promotional methods used to promote a specific product. The four possible elements of a promotion mix are advertising, personal selling, public relations, and sales promotion. Advertising is a paid nonpersonal communication about an organization and its products transmitted to a target audience through mass media, including television, radio, the internet, newspapers, magazines, video games, direct mail, outdoor displays, and signs on mass transit vehicles. Personal selling is a paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation. The phrase purchase products is interpreted broadly to encompass acceptance of ideas and issues. Personal selling is most extensively used in the business-to-business market and also in the business to consumer market for high-end products such as homes, cars, electronics, and furniture. Public relations uses a variety of uses a variety of tools, including annual reports, brochures, event sponsorship, and sponsorship of socially responsible programs aimed at protecting the environment or helping disadvantaged individuals. The goal of public relations is to create and enhance a positive image of the organization. Sales promotion is an activity or material that acts as a direct inducement, offering added value or incentive for the product to resellers, salespeople, or consumers. Ex. free samples, games, rebates, sweepstakes, contests, premiums, and coupons.

Identify and discuss the general steps in the personal selling process.

Prospecting - developing a database of potential customers Preapproach - find and analyze information about each prospect's specific product needs, current use of brands, feelings about available brands, and personal characteristics (most important about a product and why they need it) Approach - the manner in which a salesperson contacts a potential customer Making the presentation - salesperson must attract and hold the prospect's attention, stimulate interest, and spark a desire for the product Overcoming objections - address objections, best to anticipate and counter them before the prospect raises them Closing the sale - salesperson asks the prospect to buy the product Following up - delivered on time, installed properly, happy, satisfied

Discuss the three approaches that marketers use to differentiate their products from their competitors' products. Provide an example of each.

Quality - the overall characteristics of a product that allow it to perform as expected in satisfying customer needs. Craftsman tools at Sears - known to be durable (level of quality and consistency of quality) Design - how a product is conceived, planned, and produced. The total sum of all the products physical characteristics. Sony - personal electronics, HP for printers (styling and product features) Support Services (customer services) - human or mechanical efforts or activities that add value to a product i.e. delivery and installation, repairs, layaway plans, warranties. Amex more engaging and less scripted.

Identify and describe the three major ways to modify existing products, and give an example of each.

Quality modifications are changes relating to a product's dependability and durability. The changes usually are executed by altering the materials or the production process. For instance, for a service, such as air travel, quality modifications may involve increasing leg room in the seating area. Reducing quality may allow a reduction in price. Also, increasing quality may allow to sell for more. Functional modifications - changes that affect a product's versatility, effectiveness, convenience, or safety. They usually require that the product be redesigned. Product categories that have undergone considerable functional modification include agricultural equipment, appliances, cleaning products, and telecommunications services. Making programs available in 3D on Direct TV is a functional modification. Aesthetic modifications change the sensory appeal of a product by altering its taste, texture, sound, smell, or appearance. A buyer making a purchase decision is swayed by how a product looks, smells, tastes, feels, or sounds. Fashion industry

In what ways do retailers add value to products? Provide an example.

Retailers must make desired products available, create stimulating shopping environments, and develop marketing strategies that increase store patronage. This is done through location, retail positioning, store image, and category management are used strategically. Location - shopping centers. Retail positioning - identifying an unserved or underserved market segment and serving it through a strategy that distinguishes the retailer from others in the minds of consumers in that segment. Store Image - atmospherics - physical elements in a store's design that appeal to consumers' emotions and encourage buying. Category management - retail strategy of managing groups of similar, often substitutable products produced by different manufacturers. supermarkets - cosmetics, cereals, soups. The assortment of merchandise a store chooses is strategic and meant to improve sales and enhance customer satisfaction.

Identify and describe the major factors that affect pricing decisions.

Setting pricing objectives is critical because pricing objectives form the foundation upon which the decisions of all subsequent stages are based. Organizations may use numerous pricing objectives, including short-term and long-term ones, and objectives will vary for different products and market segments. Pricing objectives are overall goals that describe the role of price in a firm's long-range plans. There are several major types of pricing objectives. The most fundamental pricing objective is the organization's survival. Price usually can be easily adjusted to increase sales volume or combat competition to help the organization stay alive. Profit objectives, which are usually stated in terms of sales dollar volume or percentage change, are normally set at a satisfactory level rather than at a level designed to maximize profits. A sales growth objective focuses on increasing the profit base by raising sales volume. Pricing for return on investment (ROI) has a specified profit as its objective. A pricing objective to maintain or increase market share links market position to success. Other types of pricing objectives include cash flow, status quo, and product quality.

Commercialization of a product can be defined as deciding on full scale-manufacturing and marketing plans and preparing budgets. T/F

True

Supply Chain is defined as all the activities associated with the flow and transformation of products from raw materials through to the end consumer. T/F

True

Describe the horizontal and vertical channel integration. Provide an example.

Vertical channel integration combines two or more stages of the channel under one management. This may occur when one member of a marketing channel purchases the operations of another member, or simply performs the functions of another member, eliminating the need for that intermediary. Vertical channel integration represents a more progressive approach to distribution, in which channel members become extensions of one another as they are combined under a single management. A vertical marketing system is a single channel member coordinates or manages all activities to maximize efficiencies, resulting in an effective and low-cost distribution system that does not duplicate services. 3 forms - corporate, administered, or contractual. Corporate vertical marketing systems combines all stages of the marketing channel, from producers to consumers, under a single owner. Ex. super markets that own food processing plants and large retailers that purchase wholesaling and production facilities. Administered - channel members are independent, but informal coordination achieves a high level of interorganizational management. Contractual - most popular, channel members are linked by legal agreements spelling out each member's rights and obligations. Ex. Franchises - McDonald's and KFC Horizontal Channel integration - combining organizations at the same level of operation under one management. EX. owner of a dry cleaning firm might buy and combine several other existing dry-cleaning establishments. Increased size can often lead to decreased flexibility. Difficulties coordinating between members. Need for large scale marketing research and planning.

Sales promotion is defined as a(n): a. activity used as a direct inducement to resellers, salespeople, or consumers. b. advertising campaign. c. cyclical activity aimed at producing short-run effects on sales. d. noncyclical activity aimed at producing long-run effects. e. material used in personal selling.

a. activity used as a direct inducement to resellers, salespeople, or consumers.

In order to encourage purchases of consumer products, marketers may offer to let buyers pay less than the regular price shown. This is a type of consumer sales promotion method known as: a. cents-off offers. b. coupons. c. rebates. d. refunds. e. premiums.

a. cents-off offers.

The following is a consideration when selecting a marketing channel a. customer characteristics b. channel elasticity c. supply and demand curves d. none of the above

a. customer characteristics

Promotion is communication that is a. managed. b. deceptive. c. persuasive. d. informal. e. product-related.

a. managed.

The following are potential choices a product manager can make once they decide to delete a product: a. Phase out b. move to another product line c. merge with existing product within the product line d. none of the above

a. phase out

A firm's _____ include(s) employees, customers, suppliers, stockholders, the media, government agencies, and society, and all of these groups may have public relations efforts directed toward them. a. stakeholders b. shareholders c. constituents d. target markets e. consumer jury

a. stakeholders

The basic function of promotion is a. information. b. manipulation. c. communication. d. interpretation. e. image enhancement.

c. communication.

The expectation that a bean burrito at one Taco Bell will be the same as a bean burrito at another Taco Bell several weeks later demonstrates a. level of quality b. customer service c. consistency of quality d. product differentiation

c. consistency of quality

Which of the following is not a concern of the practice of price competition? a. emphasis on price b. frequent price changes c. focus on product features d. competitors' price

c. focus on product features

A group of closely related product items that are related because of marketing, technical, or end-use considerations is a product a. category b. dimension c. extension d. line

d. line

A(n) ____________ audit is used to assess a company's image among the public. a. communications b. social c. environmental d. public relations e. publicity

d. public relations

Which of the following types of salespeople facilitate the selling function but are not involved solely with making sales? a. Field order takers b. Inside order takers c. Order getters who focus on current-customer sales d. Order getters who focus on new-business sales e. Support salespeople

e. Support salespeople

Advertising that promotes organizational images or ideas is __________ advertising. a. defensive b. product c. competitive d. comparative e. institutional

e. institutional

Choosing appropriate colors for packaging best serves to enhance the _____ function of packaging. a. convenience b. safety c. cost effectiveness d. protection e. promotional

e. promotional

The first step in the selling process is: a. preapproach. b. approaching the customer. c. making the presentation. d. overcoming objections. e. prospecting.

e. prospecting.