Marketing 3050 module 2

Promotion that focuses on creating awareness is only important when introducing a new product to the market. True False

False

One positive aspect of promotion is that it informs consumers about products so they can make more intelligent buying decisions. True False

True

Pricing objectives should be considered overall goals to aid the organization in its long-range plans. True False

True

A reference group acts as a point of comparison and as a source of information for an individual. True False

True

Communication is a sharing of meaning. True False

True

Current customers are sources of leads for finding prospective customers. True False

True

Just as attitudes are learned, they can be changed. True False

True

Knowing the target market's evaluation of price allows the marketer to know how much emphasis to place on price and how to price a product relative to competition. True False

True

Many consumers redeem coupons only for products they normally buy. True False

True

​To avoid the appearance of price fixing, marketers must develop independent pricing policies and set prices in ways that do not even hint at collusion. True False

True

Raging Waters is a water park located in San Dimas, California, and typically welcomes 10,000 to 20,000 visitors daily from Los Angeles and nearby cities in Southern California. Raging Waters is known for its coaster-like slides and historically has added one new thrill attraction each season. The company uses its Facebook page to alert followers to the new attraction and typically makes an announcement about the attraction toward the end of the season. During the fall and winter months when the amusement park is closed, the Facebook page may provide updates on the new attraction and provide links to purchase advance tickets or season passes from their website. Which element of the marketing mix is Raging Waters using to generate interest and ticket sales for the park? a. Promotion b. Price c. Product d. Distribution e. Social media

a. Promotion

Personal selling is changing in today's marketplace due to several factors. Which of the following is NOT a factor that impacts today's promotion through personal selling? a. The difficulty in keeping customers because they are fickle b. New technology provides up-to-date information in the field c. The way in which customers gain information about a company or product d. Social CRM allows companies to discover and engage customers e. Electronic sales presentations through social media technology

a. The difficulty in keeping customers because they are fickle

Generally, promotion mixes for companies with extremely limited promotional budgets tend to concentrate on a. personal selling. b. distributor incentives. c. sales promotions. d. advertising. e. publicity.

a. personal selling.

As a promotional strategy, using coupons strives to achieve all of the following except to a. show how a product is used. b. increase sales volume quickly. c. introduce new package sizes. d. prompt trial usage of a new product. e. attract repeat users.

a. show how a product is used.

One trend that has caused consumer-generated information to gain importance is a. the increase of consumers using digital media to publicize their own product reviews. b. the increase in consumer buying power. c. the globalization of companies. d. the increase in store brands. e. the recession.

a. the increase of consumers using digital media to publicize their own product reviews.

The ____ stage of the personal selling process is when the salesperson asks the prospect to buy the product. a. proposal b. closing c. overcoming objections d. approach e. trial

b. closing

LG management decided to use skimming as a pricing strategy for its newest line of high-definition television (HDTV) sets. It should be aware that this strategy does NOT a. generate capital to cover research and development costs. b. discourage competitors from entering the market. c. provide flexibility in the introductory base price. d. protect the firm from covering costs if prices are set too low. e. reduce the stress that may be placed on the firm's production capabilities.

b. discourage competitors from entering the market.

Question text For most products, a(n) ____ relationship exists between the price of a particular product and the quantity demanded. Select one: a. inelastic b. inverse c. positive d. unknown e. elastic

b. inverse

Sellers that emphasize distinctive product features to encourage brand preferences among customers, rather than price, are practicing a. brand differentiation. b. nonprice competition. c. competitor differentiation. d. price competition. e. product competition.

b. nonprice competition.

Evaluative criteria for brands within the consideration set are both a. selective and expansive. b. objective and subjective. c. internal and external. d. extended and routinized. e. perceptive and selective.

b. objective and subjective

What equation shows organizations the relationship between price and profit? a. Total Variable Costs + Total Fixed Costs = Sales − Profit b. Price = Profit per Item × Number of Units Sold c. (Price × Quantity Sold) − Total Costs = Profits d. (Price − Profits) × Total Costs = Sales e. Total Costs = (Price × Quantity Sold) − Profits

c. (Price × Quantity Sold) − Total Costs = Profits

____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information. a. Accessibility b. Addressability c. Interactivity d. Connectivity e. Control

control

Which of the following statements is true regarding digital marketing? a. Electronic marketing and digital marketing mean the same thing. b. Digital media are media available only via computers. c. E-tailing is used by all organizations with an online presence. d. E-marketing includes digital outdoor signs or displays. e. The marketing mix does not apply to electronic marketing media.

d. E-marketing includes digital outdoor signs or displays.

Celia is beginning her week as a sales representative for Initech. She decides to start the day by developing a list of potential customers, which is called a. preapproaching. b. surveying. c. scouting. d. prospecting. e. screening.

d. prospecting

Crisis management plans should be developed and implemented to mitigate potentially damaging effects of unfavorable coverage, which best relates to a. product promotion. b. personal selling. c. advertising. d. public relations. e. sales promotion.

d. public relations.

After doing considerable shopping, Pax has just decided what brand and type of athletic shoes to buy and where he's going to buy them. In what stage of the consumer buying decision process is Pax? a. Problem recognition b. Information search c. Evaluation of alternatives d. Purchase e. Postpurchase evaluation

d. purchase

Toasties offers customers a card that allows them to have a free sandwich for every seven that have been purchased and provides various discounts throughout the year. The primary promotional objective of programs such as this is a. reducing sales fluctuations. b. stimulating primary demand. c. combating competitive promotional offers. d. retaining existing customers. e. encouraging product trial.

d. retaining existing customers.

Some companies use ____ as internal tools for teams working on a project requiring lots of documentation. a. Facebook b. Snapchat c. widgets d. wikis e. Notebook pages

d. wikis

____ are offers of cash to customers who purchase a specific product, and ____ are offers of cash to customers who purchase a specific quantity of a specific product. a. Rebates; reimbursements b. Cents-off; refunds c. Rebates; premiums d. Buy-back allowances; money refunds e. Rebates; money refunds

e. Rebates; money refunds

Smartphones contain ____ that help consumers access more information about businesses. a. treatments b. digits c. widgets d. actions e. applications

e. applications