quizes

What happens when demand is elastic?

As price goes up, revenue goes down.

_____ is a company's product sales as a percentage of total sales for that industry.

Market share

Central Bark is a dog resort where pets are pampered. Which of the following is the BEST example of one of its fixed costs?

Payment on the building used by Central Bark

Which of the following is most likely to be a variable cost for an Internet retailer that sells spices, herbs, and seasonings to consumers?

Postage for shipping spices and herbs

All of the following are marketing management philosophies EXCEPT:

Profitability orientation

Which of the following statements about reference groups is true?

Reference groups stimulate, but do not constrain, consumption behavior.

All of the following are examples of marketing-controlled information sources EXCEPT:

a review of laser printers in Consumer Reports.

The way to achieve customer satisfaction and value is to offer the lowest price

false

When Heinz introduced its ketchup globally, it first had to deal with the fact that ketchup is not a household staple outside the United States. Heinz had to show foreign users how ketchup can be used. Globally, Heinz has had to rely primarily on _____ advertising.

informative

All of the following factors directly affect the elasticity of demand EXCEPT:

inputs needed to manufacture the product.

The four Ps of the marketing mix are product, planning, promotion, and price.

true true

Candace Popwell makes and markets Festive Holiday Truffles candy. The confectionary company owner views the world as one big market with no individual segments and tries to reach it with only one marketing mix. Her essentially mass-market philosophy indicates she probably uses a(n) _____ strategy.

undifferentiated targeting

An exchange cannot take place unless each party in the exchange has something that the other party values.

.

Which of the following statements about the AIDA model is true?

Certain promotional tools are more effective at certain stages of the AIDA model.

Which of the following is an example of a product modification?

Changing the color of a laundry detergent

Most people recognize Butterball as a brand of turkey, but Butterball brand is also found on fresh turkey breast cuts, turkey sausages, and ground turkey; lunchmeat cold cuts; fresh marinated bone-in, boneless, and whole chicken; frozen chicken products; and Butterball stuffing and gravy mixes. Butterball uses:

Family Branding

Many people drink bottled water today, but one national brand of bottled water was not "spring-fresh" as advertised. The water actually came from a well located in the middle of an industrial warehouse facility and next to an industrial waste site. To which organization should the consumers who thought the advertising for the bottled water was misleading complaint?

Federal Trade Commission

After a need or want is recognized, a consumer may search for information about the various alternatives available to satisfy it. This occurs during which part of the consumer decision-making process?

Information search

While looking at the DVDs at Target, Tee tried to remember the name of the action movie starring Harrison Ford as an archeologist so he could buy the DVD. Which step of the consumer decision-making process is this?

Internal information search

At the end of the summer, the Bloomin' Garden Center reduced the price on all of its plants, fertilizer, and potting soil by 50 percent in order to liquidate this inventory. What type of pricing strategy is being used in this example?

Sales maximization

Which of the following statements describes an advantage of status quo pricing?

Status quo pricing requires little planning.

Which of the following statements about advertising is true?

The cost per contact in advertising is low.

All of the following factors directly influence consumers' level of involvement in the purchase process EXCEPT:

consumer's age

The pyramid of corporate social responsibilities contains all of the following components EXCEPT:

cultural responsibilities

Pure Digital Technologies created the Flip, a digital camera priced around $150. It filled a gap between expensive digital cameras and webcams. The Flip plugs straight into a computer, and the video can easily be viewed and shared instantly. Creating a new product for a new market is called _____.

diversification

While the sales of the Apple iPhone have been great from the beginning, when Apple released its iPhone 4S and cut the price of the iPhone 4 from $399 to $199, sales exploded with one million sales of the iPhone 4 in the first weekend. Demand for the iPhone appears to be:

elastic

_____ gives customers the feeling their concerns are being addressed and at the same time gives employees the feeling their expertise matters to management.

empowerment

Tariq is throwing a party tonight and needs to order a couple of pizzas. There are many pizza joints in town, but Tariq has narrowed down his choices to Tony's Pizzeria, Domino's, and Montoni's. These three restaurants represent Tariq's:

evoked set

_____ is the careful coordination of all promotional activities to produce a consistent, unified message that is customer focused.

integrated marketing communications

The various Survivor shows have been promoted through personal appearances by show participants, Web sites, and merchandise with the Survivor logo as well as print and broadcast advertising. To make sure that all of the promotional messages are coordinated, CBS (the network on which the show is broadcast) should use the:

integrated marketing communications approach

The concept of exchange is important to marketing because

marketing activities help to create exchange

The most popular method used by wholesalers and retailers in establishing a sales price is _____ pricing.

markup

Sam was driving when someone ran a stop sign and totaled his car. His car cannot be repaired, so he realized he's going to have to get another one. What stage of the consumer decision-making process does this represent?

need recognition

While most marketing organizations rely on various forms of promotion to succeed, sales-oriented organizations make the most effective use of their entire marketing mix.

no false

To be useful, marketing objectives should be realistic, measurable, time specific, and based on sales.

nope

David likes New Balance running shoes. However, when he stopped by Foot Locker to buy a new pair, he noticed that Nike also had a new pair of running shoes that cost $350. To David, that higher price of the Nike shoe indicated that it would be a better pair of running shoes. This is an example of:

prestige pricing

Apple recently updated its iPod Touch product, expanding its storage from 8 GB to 16 GB. Enlarging the iPod Touch's storage capacity is an example of a:

product modification

Every year, the Discovery Channel has what it calls Shark Week, a weeklong marathon of programs on sharks. In New York, Discovery Channel street teams disguised as Surfers, Bight University faculty, and Bight University "chewleaders" will attack city streets in July visiting morning television shows, landmarks, and high-traffic areas to promote the series. An article in the New York Times on Shark Week and the Discovery Channel's street teams would be an example of:

publicity

Procter & Gamble uses cents-off campaigns, couponing, and free samples to increase sales of Tide detergent. In other words, it uses a _____ promotional strategy.

pull

Which of the following activities is most likely to be an example of routine response behavior?

purchase of toilet paper

Petra McCoy has developed a product for cleaning grout called Grout-Chee. Everyone who has tried the product really appreciates how quickly it works, but McCoy is having trouble getting retail stores to carry the product. She has decided to send retailers free samples and use other trade promotions to encourage stores to carry her product. McCoy is using a(n) _____ promotional strategy.

push

Before Heinz sold its 9-Lives brand cat food unit, the company identified the product as having a low market share in a high-growth market. The portfolio matrix would classify 9-Lives as a(n):

question mark

For many years Jell-O gelatin has run advertisements that tell consumers there is "always room for Jell-O." This is an example of _____ promotion.

reminder

A health club has a new fitness program for expectant mothers. After flyers were placed at the offices of area obstetricians, classes filled up within two days. Which segmentation success criterion was most influential in the success of this promotion?

responsiveness

Altria Group, Inc.'s Phillip Morris failed at an attempt to target Americans looking for a potentially safer cigarette. This market exhibits a lack of:

responsiveness.

Dixie Furniture Company has recently moved to a new, larger location. At this new location, it has been unable to attract sufficient customers. Its owner did not have the cash to pay the current loan installment due on the building and inventory, so he decided to reduce all merchandise prices by at least 50 percent for a weekend sale to earn enough to make his loan payment. His pricing objective can be classified as:

sales maximization

On any given day, a person may be subjected to over 2,500 advertising messages but may only be aware of 11 to 20 of them. This is called:

selective exposure

Allyson Brown is trying to develop a promotional mix for her firm's new product, a sophisticated modular sun porch designed for use all year. She reasons that because her product is complex and carries high financial risks for consumers, the mix should concentrate on personal selling.

true