Marketing 3250

The three primary bases for developing prices are a. demand, competition, and cost. b. markup, cost, and cost-plus. c. profit, demand, and competition. d. supply, demand, and marketing objectives. e. negotiation, bidding, and demand-based

a

Using only some of the available outlets to distribute a product is called a. selective distribution. b. channel conflict. c. exclusive distribution. d. vertical channel integration. e. intensive distribution.

a

When an organization sets a number of prices for selected groups of merchandise, this is commonly referred to as a. price lining. b. customary pricing. c. odd-even pricing. d. ethical pricing. e. prestige pricing.

a

Which of the following can be effective in increasing mail survey response rates and developing panels of respondents who are interviewed regularly? a. Premiums b. Open-ended questions c. Crowdsourcing d. Dichotomous questions e. Samples

a

A company trying to position itself as value oriented should NOT a. set prices similar to those of its competitors. b. use premium pricing for its products. c. consider costs when determining the price of products. d. set prices that are reasonable relative to product quality. e. use any advertising for its products.

b

A retail strategy of managing groups of similar, often substitutable products produced by different manufacturers is called a. line extensions. b. category management. c. aggregate management. d. atmospherics. e. retail positioning.

b

A shopping center that contains stores owned by manufacturers who make a special effort not to conflict with traditional retailers is a(n) a. neighborhood shopping center. b. lifestyle shopping center. c. factory outlet mall. d. strip mall. e. off-price mall.

c

A valid study a. results in a causal relationship between the independent and dependent variables. b. verifies expected results. c. measures what it is supposed to. d. uses random sampling. e. portrays the population being studied.

c

Slow feedback, high absolute-dollar outlay, and difficulty in measuring effects on sales are disadvantages of which promotion mix ingredient? a. Personal selling b. Sales promotion c. Advertising d. Public relations e. Sales management

c

The two major types of product advertising are a. institutional and advocacy. b. advocacy and competitive. c. pioneer and competitive. d. informative and comparative. e. competitive and comparative.

c

Traditionally, most firms entered international markets a. globally. b. domestically. c. incrementally. d. quickly. e. accidentally.

c

Which of the following is least likely to be directly involved in actually making sales? a. Inside salesperson b. Outside salesperson c. Support sales personnel d. Current-customer salesperson e. New-business salesperson

c

____ are more consumer-driven than traditional media. a. Billboard advertisements b. Print ads c. Social media d. Radio spots e. Television commercials Hide Feedback

c

________ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy. a. Google Analytics b. Strategic performance indicators c. Key performance indicators d. Hashtags e. Click-through rates

c

Channel decisions are important to marketers mostly because a. consumers value reasonable prices delivered through marketing channels. b. they are relatively flexible allowing for change to occur quickly. c. many businesses are marketing intermediaries. d. they involve long-term commitments and affect customer accessibility. e. they dictate what promotional strategies companies should use.

d

Premium-priced products are usually marketed through a. exclusive or intensive distribution. b. intensive or selective distribution. c. complex marketing channels. d. selective or exclusive distribution. e. exclusive distribution only.

d

If a product is priced based on how many or how few people want it at a particular time and place, ____ pricing is being used. a. markup b. peak c. differential d. competitive e. demand-based

e

Public relations focuses on a. reaching the firm's target market. b. boosting product sales. c. diminishing the image of rival firms. d. improving employee morale. e. enhancing the image of the total organization.

e

Research that is conducted to clarify the characteristics of certain phenomena to solve a particular problem is called ____ research. a. experimental b. primary c. exploratory d. secondary e. descriptive

e

Selective demand is demand for a a. general type of product. b. new product. c. product category d. competitor's product. e. particular brand.

e

The use of multiple distribution channels that integrate organizations' brick-and-mortar stores with websites, catalogs, and apps where consumers can research products, read other buyers' reviews, and make actual purchases is known as a. dual retailing. b. dual distribution. c. multimedia retailing. d. multi-wholesaling. e. multichannel retailing.

e

When a marketer makes an effort in promotion to point out the strengths and benefits of a specific brand, it is an attempt to build ____ demand. a. secondary b. primary c. economic d. competitive e. selective

e

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

a

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

a

The agreement between the United States, Canada, and Mexico that merges these three countries into one marketplace is called a. NAFTA. b. GATT. c. MERCOSUR. d. EU. e. APEC.

a

The last stage in the development of any advertising campaign is a. evaluating the effectiveness of advertising. b. creating the advertising platform. c. creating the advertising message. d. defining the advertising objectives. e. developing the media plan

a

A(n) ____ is a collection of information arranged for easy access and retrieval. a. online information service b. database c. marketing information system d. marketing decision support system e. e-mail system

b

Fragile products that require special handling are more likely to be distributed through a. exclusive outlets. b. shorter channels. c. strategic alliances. d. longer channels. e. indirect channels.

b

If a business decides to reduce its prices once in a while on an unsystematic basis, it is using a. price skimming. b. random discounting. c. everyday low pricing. d. periodic discounting. e. psychological pricing.

b

If a certain country considered handshakes in business transactions to be taboo and preferred to use nodding, this would be an example of differences in ____ forces. a. political b. sociocultural c. ethical d. regulatory e. sales

b

Radio and television signals as well as ink on the paper of a magazine or newspaper are all considered a. communication channels. b. communication noise. c. communication resources. d. communication links. e. decoding sources.

communication channels

A special form of licensing in which one company grants another company the right to market its product and name in accordance with its standards in exchange for a financial commitment is called a. contract manufacturing. b. a joint venture. c. direct licensing. d. franchising. e. a strategic alliance.

d

Before contacting a prospect, a salesperson for an industrial cleaning equipment company analyzes information about the prospects' product needs, feelings about brands, and personal characteristics. This process is called a. presentation. b. prospecting. c. follow-up. d. preapproach. e. approaching the customer.

d

In an administered vertical marketing system (VMS), interorganizational relationships are a. achieved by clearly defining the obligations and rights of all channel members. b. guided by legal agreements. c. combined under the ownership of a single organization. d. achieved by informal coordination. e. formalized through contracts.

d

Marketers call the internet a pull medium because a. they determine which websites consumers are going to view. b. they have great control over the content to which users are exposed. c. social networks have great control over the content to which users are exposed. d. users determine which websites they are going to view. e. users get pulled along by social media influencers.

d

Recruiting and selection of salespeople should include enough steps to yield the information needed to make accurate selection decisions. However, the stages of the process should be sequenced so that the more expensive steps are a. near the beginning. b. always completed before anything else. c. paid by the prospects rather than the company. d. near the end. e. never reached.

d

An overall plan for obtaining the information needed to address a research problem or issue is called the a. research design. b. problem recognition. c. data collection method. d. sampling procedure. e. hypothesis.

a

Category killers compete primarily on the basis of a. low prices and enormous product availability. b. convenient locations and customer services. c. enormous product selection and sales expertise. d. one-stop shopping and product availability. e. rock-bottom prices and moderate selections.

a

Organizations that employ standardized products, promotion campaigns, and prices for all markets are practicing what is known as a. globalization. b. regionalization. c. customization. d. nationalization. e. internationalization.

a

One of the biggest mistakes a marketer can make when engaging in digital marketing is to a. treat it like a traditional marketing channel. b. focus on competitors' digital marketing efforts. c. focus on price. d. focus on technology. e. fail to devote sufficient resources to it. Hide Feedback

a

Paid personal communication that attempts to inform and persuade customers to purchase products in an exchange situation is called a. personal selling. b. public relations. c. advertising. d. sales promotion. e. publicity.

a

A narrow product mix with a deep product line would most likely be carried by a. specialty retailers. b. discount stores. c. warehouse showrooms. d. mass merchandisers. e. supermarkets.

a

Price leaders, comparison discounting, and special-event pricing are applications of a. bait pricing. b. promotional pricing. c. product-line pricing. d. professional pricing. e. psychological pricing

b

The fact that consumers tend to trust other consumers over corporations and often rely on the recommendations of friends, family, and fellow consumers when making purchasing decisions has fostered the growth of sites like a. Tumblr. b. Yelp. c. Pinterest. d. Google+. e. Reddit.

b

The major levels of intensity at which a company can choose to distribute its products are ____ distribution. a. vertical and horizontal b. exclusive, selective, and intensive c. selective, cooperative, and conflicting d. cooperative, conflicting, and integrated e. intensive, extensive, and exclusive

b

When a customer is considering the purchase of a product in a less-familiar product category, that individual is likely to rely more heavily on a. high value products. b. external reference prices. c. symbol prices. d. discounted reference prices. e. internal reference prices

b

The percentage of consumers in the target audience actually exposed to a particular advertisement in a stated period of time is the definition of a. frequency proportion. b. exposure. c. frequency. d. reach. e. media profile index.

d

Which of the following is NOT a discount provided to business customers? a. Cash b. Cumulative c. Seasonal d. Differentiated e. Trade Hide Feedback

d

Why should a benchmark statement be included in advertising objectives? a. Shareholders want to see where a company is in relation to competition. b. It gives an indication of how the advertising message is best presented. c. It is useful in determining whether retailers have increased their sales over the year. d. Without a reference point, it is difficult to determine to what degree objectives have been accomplished. e. Objectives become more easily attainable when such a statement is included.

d

____ is a broad set of communication efforts used to create and maintain favorable relationships between a company and its stakeholders. . Integrated marketing communications b. Sales promotion c. Personal selling d. Public relations e. Stakeholder management

d