business

During the decoding process, the

-receiver attempts to convert signs or symbols into concepts and ideas

When LG promotes the benefits and strengths of its LG brand appliances, it is attempting to build

-selective demand

Steve is the owner of a company that manufactures metal doors that are utilized by retail outlets in shopping malls or higher crime areas where the retailer wants to provide additional security to prevent break-ins. Steve is developing a new model that provides greater metal strength, is lighter, and is more attractive when in a closed position. He's interested in determining the breakeven point in order to establish minimum goals for the first month of production. Steve estimates that his fixed costs to produce the new model will be $60,000. He plans to sell the doors to retailers at a list price of $249. Variable costs are estimated to be $95. How many units will his business need to sell in order to reach the breakeven point?

390 units

With respect to the major product packaging considerations

Marketers must consider the package's promotional role

Hannah, a working mother, has recognized the need for some sort of slow cooker so that she can spend less time preparing meals and more time with her family after work. She uses Google to research slow cookers online and learns that Consumer Reports ranks the Instant Pot the highest. Hanna's use of the internet is

an external search

. Elias, a sales representative, is returning from a week on the road. One of his activities this week is to develop ____, which are designed to identify the customers called on and to present detailed information about interaction with those clients.

call reports

Epson sells some of its color printers for about $100, but the refill cartridges cost more than $30 each. Epson's pricing strategy would be best labeled as

captive pricing

Each communication channel has a limit on the volume of information it can handle effectively. This limit is called

channel capacity

One disadvantage of test marketing a new product is that

competitors may copy the product

Lyft uses a pricing strategy based on real-time market conditions. It charges less in periods of low demand and more during periods of high demand. Sometimes these prices double or triple during periods of high demand. Lyft argues that these higher prices motivate more drivers to pick up passengers, thus increasing the supply of drivers needed to handle the additional demand. This demand-based pricing strategy is an example of

dynamic pricing

When Silk Soymilk began packaging its chocolate milk in single-serving sizes, the company chose drink boxes that did not need refrigeration. The boxes were only sold in shrink-wrapped sets of six. Single boxes were not available at grocery stores or convenience markets. Once the Silk chocolate product was selling well, they also began offering the Silk Soymilk vanilla flavor in the same type of packaging. The Silk Soymilk brand, logo, and look of the boxes were the same as its larger half-gallon versions. The only difference in packaging style was the color brown for chocolate milk and the color white for vanilla. Silk Soymilk's strategy of packaging its single-serve boxes of chocolate milk to look like its half-gallon cartons is known as

family packaging

Service marketers make promises to customers, suggesting that the customer place some degree of trust in the service provider. In this way, service marketers are trying to address the challenge of the service characteristic of

intangibility

A product under non price competition would most likely not succeed in the market if

it is easy to duplicate

If Julio, product manager at Frito Lay, became aware that General Mills is in the process of test marketing a new snack chip in the southeast U.S. region, he might want to engage in ____ to reduce the validity of the other firm's results

jamming

In marketing family packaging means

making all of a company's or product line's packaging look similar

Signs, counter pieces, racks, and self-service cartons are all forms of

point-of-purchase displays.

When Old Spice came out with the "Smell like a Man" advertising campaign, the goal was to _____ the brand from one that appealed to older men to a new, younger target market

reposition

The manufacturers of Laundry Whizz, a new laundry detergent, are developing their promotional plan for the first year. They know they want to use an integrated communications strategy and are considering the use of advertising through TV and magazines, coupons, public relations, sales promotion, and viral marketing. They are not sure when to use each of these methods, however, and have asked for your advice. The makers of Laundry Whizz have decided to go to several different colleges and have a contest for the dirtiest shirt. While at the colleges, they will set up several washing machines near the campus bookstore, demonstrating the power of Laundry Whizz to get these dirty shirts clean. Each contestant in the dirtiest shirt contest will receive a coupon for a free bottle of Laundry Whizz. The winner of the contest will receive a $100 gift card for the college bookstore along with social media recognition. This method of promotion is an example of ____, and is used to stimulate ____ demand.

sales promotion; selective

Executives in Japan decided to price Lexus luxury cars in the United States at $55,000 while pricing them at $66,000 in their own country. This is an example of

secondary-market pricing

You are the head of sales training for a major financial services firm in New York City. You are conducting a sales training class for a group of new sales trainees. You are a strong believer in using a structured approach to personal selling. Based on this information, which of the following personal selling process steps are you going to tell the trainees to perform first?

Develop a database of potential customers

Which of the following is a disadvantage of gradually introducing a product to market?

It allows competitors to monitor the results of the new product

Fiona works at the large corporate headquarters of a multinational company. She is a bit of a clean freak. Every week she cleans her office, including the windows. Her favorite window cleaner to use is Windex. In this case, Windex Window Cleaner is which of the following types of business products?

MRO supplies

Marketers can influence consumers' evaluations by describing alternatives to products and their attributes in a certain manner, a practice known as

framing

Concession Supply sells hotdogs, buns, and nacho ingredients to several major league ballparks across the country. Currently, Concession Supply has the following pricing information for one case of hotdogs sold at Wrigley Field: Total fixed costs = $1,200, Selling price = $16, and Variable costs = $6. If Concession Supply increased its price by 10% and experienced only a 2% decrease in the demand for hotdogs, the demand would be

inelastic