Advanced Marketing Spring Semester Final Review

Which of the following is an example of personal selling...

A financial planner discusses retirement plans with a group of employees.

Determine which of the following is a true statement...

A good brand name creates an appealing image.

Which of the following is an example of a touch point...

A reply to a customer question on social media.

Which area of promotion will pricing affect...

Advertising budget.

Which of the following is a false statement about the promotional mix...

Advertising is the best promotional mix element.

Any paid form of non-personal presentation of ideas, images, goods, or services is known as...

Advertising.

VISA pays to promote its services on other companies' websites. These promotions are examples of...

Advertising.

Which of the following is an example of publicity...

An author appears on a talk show to discuss his/her new book.

Jacks General Store has advertised a big sale on toasters. When Wendy goes to the store to buy a toaster, the sales person tells her they are all sold out and offers to sell her a higher priced toaster oven. This is an example of an illegal practice known as...

Bait-and-switch advertising.

A company hangs a poster with its brand promise in its customer service department to make sure employees have the brand in mind. This is an example of a...

Brand cue.

Jeni's Ice Creams added ice cream sandwiches to its highly sucessful ice cream brand. Such an addition to an existing brand is an example of...

Brand extension.

Determine which of the following is a true statement...

Brand ideas may come from many sources, including company employees and customers.

Colors, logos, and images are all elements that make up a company's...

Brand identity.

The non-profit organization Sesame Workshop, which produced the Seasame Street television series, often gives permission to manufacturers such as Fisher Price and Build-a-Bear Workshop to use numberous Seasame Street characters on their products for a fee. This arrangement between Sesame Workshop and these companies is known as...

Brand licensing.

A clothing store wants its customers to know how it differs from other retailers in the area, so it highlights the benefits of shopping at its store to create its image. The store is engaging in...

Brand positioning.

A clothing manufacturer is trying to build its corporate brand, but it wants to make sure that its customers know it stands for more than just making money. What should the company concentrate on to communicate its greater purpose...

Brand values.

A health-food company believes in customer satisfaction and cares about providing customers with healthy, high-quality food. These beliefs are known as...

Brand values.

What must a company first think of when developing its brand promise...

Brand values.

The national economy is always changing. These up and downs in economic activity are known as...

Business cycles.

Which of the following is prohibitied by the government regulation...

Businesses that offer premiums without explaining the terms to the customers.

Which of the following quesitons should be asked by a firm that is trying to decide whether to brand its products...

Can the product be easily identified by a brand?

In which of the following businesses would a separate department most likely be responsible for establishing prices...

Chain store.

Several restrauant companies, including Long John Silver's and KFC, have sucessfully joined foreces to increase recognition, customer loyalty, and sales for all comapnies involed. Such arrangements between companies are example of...

Co-branding.

Which part of brand building involves telling the brand story...

Communicating the brand.

A business that says it tries harder because its product is not number one, is using product positioning to...

Compete.

One result of positioning should be giving the business an "edge" over their businesses that sell similar products. This is known as...

Competitive advantage.

A station across the street is offering gasoline for five cents cheaper per gallon. The other stations in the area decide to lower their prices as well. This is an example of ________ pricing.

Competitive.

Telling a brand story is important because it...

Connects the brand with customers.

A business that sets its prices lower than those of competitors will not make a profit unless it also...

Controls its costs.

One way for marketers to make positioning memorable is by...

Creating a slogan.

What might happen if a business's customers feel that they are not getting the most value for their money...

Customers spend money elsewhere.

Why do businesses want customers to demonstrate brand insistence for them...

Customers will bypass other brands because they are brand loyal and will buy only the desired brand

In which stage of the product's life cycle would the least money be invested in product promotion...

Decline.

Which of the following is part of a company's brand identity...

Design

Marketers decide to position a product on its value because the value is very important to the target market. In this situation, value is a(n)...

Determinant factor.

Before selecting a brand name for a new product, marketers should determine the accptability of brand possibilities among different cultures. As part of this process, marketers should...

Determine if the brand name would be culturally taboo where the product will be marketed.

Brand values are one way that a company can...

Differentiate itself from the competition.

When the promotional mix for a product is affected by the path the product takes from the producer to the ultimate consumer, the mix is being influenced by the product's...

Distribution channel.

A department store sells clothing from brand like Levis, but it also sells its own private brand of clothing, also known as __________ brands.

Distributor.

The majority of businesses that use profit-oriented pricing want to...

Earn a resonable amount of profit.

Successful positioning appeals to customers'

Emotions.

Who should share a company's brand values...

Everyone in the company.

A buyer is willing to pay $9.99 for a product. If the seller is willing to accept that amount, the $9.99 is the...

Exchange price.

Is the following statement true or false: There is no connection between a firm's marketing objectives and its pricing objectives...

False, pricing objectives should be used to achieve marketing objectives.

A company advertises that its products are durable, lightweight, and come in a variety of colors. What strategy is the company using to position its product...

Features and benefits.

A downturn in the economy has forced a home builder to lower its prices. This company has ________ prices.

Flexible.

Which of the following is an example of a trade name...

Ford.

When buying things like towels or toilet paper, Mike prefers to save money by buying plainly packaged products that receive little or no promotion, also known as...

General items.

If a manufacturer has chosen to advertise on national radio and in magazines, which of the following factors has influenced the promotional mix...

Geographic location of the market.

Corporate brands are important because they...

Help businesses stand out.

When companies increase the quality of materials used in the production of their products, their prices will tend to be...

Higher.

Which of the following is an advantage of personal selling over advertising in the promotional mix...

Immediate feedback.

Johnson Quittles delevoped a new digital music platform that made them innovators in the music industry. Considering the life cycle stage of the product, the company should design a promotional mix that will...

Inform customers about the new product.

Which of the following characteristcs is shared by advertising and publicity...

Is impersonal.

In which of the following businesses is the business owner usually responsible for setting prices...

Java Joe's Coffee Shop

Soliciting feedback from customers and employees is an important part of which step of brand building...

Keeping the brand in mind.

Personal selling would be a cost-effective form of promotion for which of the following products...

Laptop computer.

The Target bullseye and the McDonald's golden arches are example of...

Logos.

The selling prices of products help customers to...

Make buying decisions.

Marketers position a facial soap on its "purity" - no harsh chemicals or dyes are included in its ingredients. This is positioning by...

Manufacturing or creation process.

It costs a publishing company $8 to produce a paperback book. The company sells each papaerback it produces for $9.99. The $1.99 difference is known as...

Mark-up.

Businesses that come under government control often set target return of profit because they...

May be investigated if they earn high profits.

In what type of market do companies compete by making their products different from each other in terms of quality, service, styles, and prices...

Monopolistic competition.

Which of the following is an advantage of family branding...

New products are easier to introduce.

Can any brand name be selected and used by a business...

No, the name must be legally avaliable for use.

Should businesses rely soley on their previous promotional mixes...

No, there may be other, more sucessful mixes to try.

Sellers must carefully set prices so that buyers feel they are receiving _______ value for their money.

Optimum.

Which of the following must a business accomplish through selling price...

Pay all product costs.

When products are similar, it's effective to position by...

People (service).

On a per-contact basis, which of the following elements of the promotional mix is most expensive...

Personal selling.

What form of promotion is generally emphasized for complex, technical products sold to industrial users...

Personal selling.

A brand describes itself as funny, outspoken, and young. This is the company's brand...

Personality.

A company decides to save money by shipping its products by truck instead of by plane. Which marketing mix element is pricing influencing in this example...

Place.

Marketers can use the elements of place (distribution) to help with positioning by...

Placing the product where the target market shops.

Competing businesses within the same industry usually react to each other's promotional mixes by...

Playing follow the leader.

Elyza usually buys the same brand of chocolate, but if her favorite brand isn't avaliable she'll try another brand. Elyza demonstrates brand...

Preference.

Company XYZ sells condensed soups and promotes them by say, "Great taste, great price." Company XYZ is positioning its product according to what strategy...

Price and quality.

When Mariah sets prices for her company, she strives to maximize profit, which is considered a(n)...

Pricing objective.

The determination of an exchange price acceptable to both the buyer and the seller of a product is called...

Pricing.

What happens over time when demand for a product goes up...

Producers make more of it.

Kellogg's Froot Loops, General Mills' Chex, and Post Honey Bunches of Oats are all examples of...

Product brands.

Positioning iced tea against lemonade is an example of positioning by...

Product class.

Which of the following factors related to a business's objectives and strategies affects its pricing...

Product mix.

A hair care company cannot afford to spend millions of dollars on research for the new, inexpensive shampoo it is developing, so the company must choose a less expensive form of research. This is an example of how pricing affects which of the following elements of the marketing mix...

Product.

Positioning is a type of marketing strategy that applies to...

Product/brands.

Covering costs is a pricing objective related to...

Profitability.

A company with a high profit margin decides to advertise with a full-page, high-cost magazine ad. This is an example of how pricing influences...

Promotion.

Cool Cola recently developed a new flavor of soda. The company has generated customer interst in the new product via television commercials and coupons. As a result, wholesalers and retailers are buying the new soda from Cool Cola to meet customer demand. This is an example of a(n) _________ promotional strategy.

Pull.

In which of the following forms of competition are no substitutes readily available...

Pure Monopoly.

What kind of competitive market is characterized by a great many buyers and sellers of nearly identical products and marketers who have little control over pricing...

Pure competition.

The Sandlot Company promotes its products to intermediaries who then promote the products to customers. The Sandlot Company is using a(n) ________

Push.

With what do many customers associate price...

Quality.

Marketers position a cellphone company's service as being consistent with "no dropped calls." This is positioning by...

Reliability.

A disadvantage of individual brands is that they may...

Require more promotion.

The objective of pricing that is intended to earn a certain percentage of profit based on the amount of money that has been put into the business is...

Return on investment.

Which of the following is a true statement about inexpensive, self-service products...

Sales promotion could promote these products sucessfully.

Contests, sample, and coupons are all examples of...

Sales promotion.

Cookie's Palace, a new boutique for children, wanted to attract more customers. To do so, the manager planned a puppet show, put up a new window display, and bought ballons to give to children. This is an example of...

Sales promotion.

Erica wants to buy Marco's used iPod. He is asking her to pay him $100 for it. $100 is the iPod's...

Selling price.

Which of the following is a brand personality...

Serious, knowledgeable, and reliable.

To set prices, business must price the physical product and all of its associated...

Services.

Whenever possible, an effective brand name should always be...

Short and memorable.

Why should a brand name be distinctive...

So that it sets the product apart from other products.

Why is it important for business to recover their costs...

So that they can stay in business.

Which of the following is an example of a promotional activity that combines serveral of the promotional mix elements...

Sponsorships.

Positioning shows where a product stands in relation to...

The competition.

Which of the following is an appropriate reason to reposition a product...

The competitive environment has changed.

When planning the promotional mix, a business should consider which of the following target market factors...

The number of customers.

Positioning should focus on...

The target market.

Which of the following statements best defines the term promotional mix...

The way in which businesses combine promotional methods.

Which of the following is a true statement...

There are many kinds of selling prices for goods and services.

Which of the following is true of a business's pricing objectives...

They must be adjusted from time to time.

Marketers should keep positioning simple...

To avoid customer confusion.

Which of the following is a primary reason that businesses use brands...

To identify their products.

Which of the following is an overall goal of the promotional mix...

To persuade consumers to buy.

A business that uses sales-oriented pricing objectives wants to increase the...

Total amount of its income from sales.

Employee interactions, websites, and advertisements are all examples of...

Touch points.

The Keelber Elves, Ronald McDonald, and Mr. Peanut are examples of...

Trade characters.

A company that makes ink claims that no other pen on the market uses a type of ink that changes color when exposed to light. The company is positioning its product according to what strategy...

Unique characteristics.

Positioning demonstrates...

Uniqueness.

Positioning a certain truck as being the perfect vehicle for living in the country is an example of positioning by...

Uses.

Most marketers feel that it is a good strategy to price their products according to the...

Way their customers view the products.

Selling price helps customers to allocate their money because price determines...

What customers can afford to purchase.

What does a brand personality describe...

Who a company is.

If, after receiving feedback, a customer-oriented company discovers that its customers are unsatisfied, what should it do...

Work on communicating its values better through its touch points.

If a producer priced its products much lower than those offered by competitors, is it possible that the producer would lose customers...

Yes, the price may be so low that the producer is unable to perform certain duties.

Can pricing affect a business's image...

Yes; a business with low prices may have a discount image.

Does pricing affect the amount of money a business spends on product research...

Yes; companies will not spend as much on research for lower priced products.

Can prices be set too low...

Yes; customers may feel quality is too low.

Why is obtaining, maintaining, or increasing market share important to a business...

market share serves as a measure of the sucess of the business.