Final Exam Review
___________ are off-price retailers that operate in huge facilities offering few frills but ultra-low prices and surprise deals on selected branded merchandise.
warehouse clubs
Which is most likely a difference between advertising and sales promotion?
Advertising can be used to build up a long-term image for a product while sales promotion effects can be short lived.
What of the following statements about break-even analysis is most likely true?
It fails to consider customer value and the relationship between price and demand.
Which is true of viral marketing?
It is the digital version of word-of-mouth marketing.
Changes in technology and the explosive growth of direct and online marketing are having a profound impact on the nature and design of marketing channels. One major trend is toward ____________ insofar as product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones.
disintermediation
__________ pricing involves setting prices based on the expenses involved in producing, distributing, and selling a product plus a fair rate of return for a company's effort and risk
cost-based
Which is most likely true about the digital age with regards to marketing?
Digital networks allow marketers many ways to build customer relationships.
Mind and Body Fitness recently entered into a financial agreements that allows 25 independent business people at select locations across the country to set up establishments that offer its holistic services and programs. They include weight-management, group programming, sport-specific training, yoga, Pilates, and nutrition. Which type of contractual retail association does this represent?
franchise organization
ColaBlue, a soft drink manufacturer, is sued by an environmental group for not meeting certain safety standards in its waste disposal. ColaBlue remedies the problem by adding higher-grade filters and purifiers. Which action by ColaBlue would constitute a public-relations effort to address the effects of the lawsuit and the consequent damage to its brand image?
holding a press conference to explain the remedial steps that ColaBlue has taken
Brandy's, a national candy store chain, decides to open both a coffee house and ice cream shop within their stores to create a multi-faceted experience for shoppers. The company decides to enter into deals with two well-known retailers - The Beanery and Creamy Creations. As stipulated in their respective contracts, The Beanery and Creamy Creations cannot enter into the same type of agreement with any other candy retailers. All three companies will enjoy greater sales, and ultimately profits, from the arrangement. This is most likely an example of a(n) __________ marketing system.
horizontal
Kimlee, a food manufacturer based in China, recognizes the immense demand for noodles in the Australian market. Kimlee forms a new business venture to manufacture noddle and decides to share possession and control of the new business with a local food processing company. In this case, Kimlee has entered a foreign market through ____________.
joint ownership
Trendy Teens manufactures fashionable clothing and accessories for the tween and teen female markets. New merchandise with a very different look is rolled out each season and heavily promoted as the "must-have" style in a variety of media. For which could Trendy Teens be easily criticized in this scenario?
perceived obsolenscene
GE employs different sales forces within different product and service divisions of its major businesses. For example, within GE Infrastructure, the company has separate sales forces for aviation, energy, transportation, and water processing products and technologies. GE has most likely adopted a ____________ sales-force structure.
product
Sleek Designs markets a wide range of kitchen cabinets, counter tops, and ceramic tile. Its salespeople are initially divided on the basis of their expertise in a product category. They're then further divided into teams addressing large home improvement retailers, kitchen and bath suppliers, and specialty home improvement stores. Which sales-force structure has most likely been combined to form this complex sales-force structure?
product and market
A country in South America has large reserves of copper and tin. Mining from the pillar of its economy. A major part of its revenue is generated from exporting these resources. This country is poor in many other ways. It is a good market for large equipment, tools, supplies, and trucks. Since there are many foreign residents in this country and a deathly upper class, it is also a market for luxury goods. This country most likely has a(n) ____________ economy.
raw material exporting
Carboi is a company that offers consumers the opportunity to buy carbon offsets, which are contributions to projects that combat global warming by reducing carbon emissions. Carboi offers contribution packages for driving, flying, and home energy use. Through Carboi, consumers can pay some of the ____________ costs of their private goods and services.
social
