MKT 3343 Exam 4

When three buyers purchase the products of three producers, nine transactions are required. If one intermediary serves both producers and buyers, the number of possible transactions is

a. 6.

Stephanie is planning to open an upscale dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at the time?

a. Location

Cindy goes to Walmart and buys some clothing, a DVD, and all the groceries she needs for her family. What type of retailer is this particular Walmart?

a. Superstore

Candy and Sarah own and operate a small restaurant. On a weekly basis, they go to their local Sam's Wholesale Club to purchase the food items and cleaning supplies they need for their business. With the exception of the volume they purchase and the items' intended use, this grocery shopping trip is identical to a weekly trip by their families to a grocery store. Sam's is serving as a ____ wholesaler for these entrepreneurs.

a. cash-and-carry

Sadie won a hot-air balloon ride and dinner for two for being the top revenue-producing mortgage loan officer at her company for the month of October. This contest exemplifies a company's efforts at

a. motivating salespeople.

Pedro's company has launched a new product line, and he is put in charge of sales. He decides his first step will be to find potential customers in the company's sales records. Pedro is

a. prospecting.

____ provide businesses with copywriters, artists, production coordinators, media experts, researchers, and other highly skilled specialists.

b. Advertising agencies

Carlos Suarez has been hired as sales manager at a new firm and is trying to come up with a sales force compensation method. He would like to have selling expenses relate directly to sales resources, an aggressive sales force, and minimization of non-selling tasks. What compensation method(s) would best fulfill his requirements?

b. Straight commission

ThrowBackGames offers free downloadable versions of its computer games for a very short time. These efforts have a primary promotional objective of

b. encouraging product trial.

The objective of inventory management is to minimize inventory costs while

b. maintaining an adequate supply of goods to satisfy customers.

An independent businessperson who is paid a commission to sell complementary products of different producers in an assigned territory without actually taking title of the merchandise is a(n)

b. manufacturers' agent.

A list of the exact magazines, newspapers, and television stations in which an advertisement will appear, along with the dates and times, is a(n)

b. media plan.

Anything that reduces the accuracy and clarity of communication is called

b. noise.

Eliminating a wholesaler from a marketing channel will

b. not eliminate the functions performed by that wholesaler.

Dial Soap's advertising slogan "Aren't you glad you use Dial? Don't you wish everybody did?" exemplifies the use of ____ advertising.

b. reinforcement

During his presentation to Mrs. Lynch about a high-end gourmet oven, Fred asks, "Would you prefer black or stainless steel?" This is an example of a

b. trial close.

Cranson Paint Manufacturing Company buys the chemicals it needs for producing its products from a chemical producer, Roth Chemicals. In this instance, the chemicals are being distributed to Cranson through which of the following types of channels?

c. Direct distribution

Which of the following are personal informal exchanges of communication that customers share with one another about products, brands, and companies?

c. Word-of-mouth communication

A major benefit of using event sponsorship is that it

c. can provide large amounts of free media coverage.

Heinz uses various techniques such as coupons, free samples, and consumer contests to encourage consumers to try its products. All of these marketing activities are considered

c. consumer sales promotion methods.

A common form of tactile communication in U.S. business activities is

c. handshaking.

New store formats and advances in _______________ are making the retail environment highly dynamic and competitive.

c. information technology

Apple makes its computers available through its own stores, its website, and some major retailers. This is an example

c. multichannel distribution.

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

c. personal selling.

Arnold and Erin are discussing the media plan for the opening of their new bar/laundromat called Soap and Suds. He tells her that while he agrees that ____ has tremendous impact, he does not feel that the upfront costs for such a campaign are in the modest budget that presently exists.

c. television

Marc works for F1 where his responsibilities include maintaining favorable relationships between the organization and its stakeholders. Marc is most likely employed in

d. public relations.

The Sharper Image likes to use nonpersonal communication in news story form such as press releases for its new and improved products. This is an example of

d. publicity.

The supply chain begins with______________ and ends with_________________.

d. raw materials; customers

Atticus is reading a magazine ad for a new cologne. In the ad, he sees little more than a photo of a man riding horseback on a beach, and the name of the new cologne, Rugged. In this situation, Atticus is a ___, one who ___.

d. receiver; decodes

After direct marketing, the next slightly longer marketing channel adds a(n)

d. retailer.

Which type of retailer generally accepts lower margins than traditional retailers in exchange for higher sales volume?

e. Discount stores

The focus of personal selling is shifting from selling a specific product to

e. building long-term relationships with customers.

When Yoplait Yogurt gives a portion of its profits to breast cancer research, it is using

e. cause-related marketing.

Soft drink companies advertise that their products beat the competition in national "taste tests," and they refer to the rival brands by name. This type of advertising is best described as

e. comparative.

The major levels of intensity at which a company can choose to distribute its products are ____ distribution.

e. exclusive, selective, and intensive

A shopping center that contains stores owned by manufacturers who make a special effort not to conflict with traditional retailers is a(n)

e. outlet shopping center.

Matthew McKinney, director of marketing for Greenwald Industrial Products, complains to his advertising director that the continuing slump in orders has apparently been perpetuated by the firm's failure to have the necessary advertising expenditures. Based on this information, Greenwald is most likely using the ____ approach to determine its advertising expenditures.

e. percent-of-sales

Facing competition from Walmart as a low-cost retailer, Target has updated its _____ to be a mass merchandiser of inexpensive yet chic goods. To accomplish this, it has entered into design partnerships to offer low-cost goods made by famous designers.

e. retail positioning

The cost of ____ is usually substantially lower than the cost of ____.

e. retaining existing customers; acquiring new customers

When McDonald's uses the Monopoly game in which customers receive game pieces with each visit and try to assemble a set of properties to win prizes, McDonald's is utilizing

e. sales promotion.

An evaluation performed before an advertising campaign begins is a

pretest