Marketing

Which of the following statements regarding segmented pricing is correct? a. Segmented pricing practices can cause consumer resentment b. Perceived value does not have to be considered when using segmented pricing c. Segmented pricing is not used to price different versions of a product d. For segmented pricing to be effective, the segments should have the same degree of demand e. Different locations are not used as a basis for segmented pricing

a. Segmented pricing practices can cause consumer resentment

Which of the following is an advantage to using internal databases for information? a. They can be accessed quickly and cheaply b. Internal information is in a form that is useful for making marketing decisions c. Internal information is accurate and complete d. The information stored in internal databases is always current e. Internal information sources are easy to manage

a. They can be accessed quickly and cheaply

What is the goal of integrated marketing communications? a. To deliver clear, consistent, and compelling and brand images b. To only use newer digital technologies to communicate with consumers c. To deliver different brand messages over different communication channels d. To deliver a hodgepodge of brand content to consumers e. To allow different company departments to send different brand images

a. To deliver clear, consistent, and compelling and brand images

One major objective of a market-penetration pricing strategy is to __________. a. Win a large market share b. Prevent customer dissatisfaction c. Attract buyers willing to pay a higher price d. Skim off small but profitable segments e. Set a high price to gain profits

a. Win a large market share

Which of the following is a cost-based pricing approach? a. EDLP pricing b. Break-even pricing c. Value-added pricing d. Competition-based pricing e. High-low pricing

b. Break-even pricing

What are the three ways a company can organize its international operating units? a. By cultural, economic, and political-legal factors b. By geographical organizations, world product groups, and international subsidiaries c. By sales, profits, and market share d. By product, geography, and sales e. By sales, products, and prices

b. By geographical organizations, world product groups, and international subsidiaries

What are the two main forms of online advertising? a. Online display ads and rich media ads b. Display ads and search-related ads c. Search-related ads and coupons d. Search-related ads and contextual advertising e. Online display ads and interactive ads

b. Display ads and search-related ads

When Apple Computer Company introduced their iPhone, they priced the new product at $599, considerably higher than either their iPod or competing cellular phones. Apple Computer was pursuing a(n) __________ pricing strategy. a. By-product b. Market-skimming c. Optional-product d. Market-penetration e. Captive-product

b. Market-skimming

What are the four broad characteristics used to classify retail stores a. Service, location, price, and organization b. Service, product lines, price, and organization c. Location, product lines, price, and organization d. Service, product lines, target market, and price e. Service, product lines, price, and location

b. Service, product lines, price, and organization

The company, suppliers, distributors, and customers who "partner" with one another to improve the performance of the entire system make up the __________. a. Upstream network b. Value delivery network c. Downstream network d. Marketing channel network e. Supply chain network

b. Value delivery network

Which of the following is the correct order of the six buyer-readiness stages? a. Awareness, preference, knowledge, liking, conviction, and purchase b. Awareness, knowledge, liking, preference, purchase, and conviction c. Awareness, knowledge, liking, preference, conviction, and purchase d. Awareness, knowledge, preference, liking, conviction, and purchase e. Awareness, knowledge, purchase, liking, preference, and conviction

c. Awareness, knowledge, liking, preference, conviction, and purchase

Which of the following correctly identifies the three major pricing strategies used by marketers? a. Customer value-based pricing, revenue-based pricing, and profit-based pricing b. Customer-value based pricing, revenue-based pricing, and competition-based pricing c. Customer-value based pricing, cost-based pricing, competition-based pricing d. Customer value-based pricing, cost-based pricing, and profit-based pricing e. Customer value-based pricing, cost-based pricing, and revenue-based pricing

c. Customer-value based pricing, cost-based pricing, competition-based pricing

Which joint venturing method typically involves fees and royalty payments? a. Contract manufacturing b. Management contracting c. Licensing d. Joint ownership e. Direct investment

c. Licensing

Which of the following statements about setting an advertising budget is correct? a. Mature brands usually require higher advertising budgets as a ratio to sales b. Undifferentiable brands do not require advertising to set them apart c. New products typically need relatively large advertising budgets to build awareness and to gain consumer trial d. When a product is clearly differentiated, advertising is not used in the promotion mix e. Brands in a market with many competitors and high advertising clutter usually require less advertising

c. New products typically need relatively large advertising budgets to build awareness and to gain consumer trial

Recently, Amazon.com has been accused of __________, which is the practice of selling products below cost to harm competitors. a. Price discrimination b. Deceptive pricing c. Predatory pricing d. Price fixing e. Retail price maintenance

c. Predatory pricing

Many personal care companies combine toothpaste with a toothbrush at a reduced price. This is an example of __________ pricing. a. Product line b. Captive-product c. Product-bundle d. By-product e. Two-part

c. Product-bundle

Digital marketing can link brands to important moments in customer's lives. This aspect of digital marketing is called __________. a. Web marketing b. Online marketing c. Real-time marketing d. Immediate marketing e. Brand-linked marketing

c. Real-time marketing

How is price determined using cost-plus pricing? a. The price is set based on competitor's prices b. The price is set so that the total revenue covers total costs c. The price is set by adding a standard mark-up to the cost of the product d. The price is set based on demand e. The price is set by determining the customer's value perceptions

c. The price is set by adding a standard mark-up to the cost of the product

What is the digital version of word-of-mouth marketing? a. Blogs b. Permission-based email c. Viral marketing d. Social media e. Brand community websites

c. Viral marketing

Developing effective marketing communications starts with __________. a. Designing a message b. Determining the communication objectives c. Collecting feedback d. Identifying the target audience e. Identifying the consumer's buyer readiness stage

d. Identifying the target audience

Competitive marketing intelligence uses __________ data sources a. Private b. Expensive c. Competitor's internal d. Publicly available e. Internal

d. Publicly available

What are the two main research instruments used by marketing researchers in primary data collection? a. Questionnaires and panels b. Questionnaires and surveys c. The telephone and the Internet d. Questionnaires and mechanical devices e. Questionnaires and the Internet

d. Questionnaires and mechanical devices

Many amusement parks charge a daily ticket or season pass charge plus additional fees for food and other in-park features. This is called __________. a. Optional-product pricing b. Product-bundle pricing c. Product line pricing d. Two-part pricing e. By-product pricing

d. Two-part pricing

Promotional pricing tactics include __________. a. Customer-segment pricing, location-base pricing, and time-based pricing b. Discounts, limited time offers, and reference prices c. Functional discounts, limited time offers, and location-based pricing d. Discounts, geographical pricing, and special event pricing e. Discounts, special-event pricing, and limited time offers

e. Discounts, special-event pricing, and limited time offers

What are the three main types of off-price retailers? a. Discount stores, factory outlets, and convenience stores b. Franchises, factory outlets, and warehouse clubs c. Discount stores, convenience stores, and supermarkets d. Discount stores, factory outlets, and warehouse clubs e. Independents, factory outlets, and warehouse clubs

e. Independents, factory outlets, and warehouse clubs

A soda pop company offers a discount to a grocer. In exchange, the grocer agrees to provide in-store advertising for the soda pop and additional sales-support. This is an example of __________. a. Discounts b. Segment discounts c. Cash discounts d. Trade-in allowances e. Promotional allowances

e. Promotional allowances

__________ consists of activities designed to engage and build good relations with the company's various publics. a. Informative advertising b. Reminder advertising c. Branded entertainment d. Comparative advertising e. Public relations

e. Public relations

Firms producing consumer electronics, furniture, and home appliance brands typically distribute their products __________. a. Exclusively b. Intensively c. Through franchises d. Through value added resellers e. Selectively

e. Selectively

Internal factors that affect pricing include __________. a. The company's overall marketing strategy, the nature of the market, and demand b. The company's overall marketing strategy, objectives, and demand c. The company's overall marketing strategy, objectives, and the nature of the market d. The nature of the market, demand, and the economy e. The company's overall marketing strategy, objectives, and marketing mix

e. The company's overall marketing strategy, objectives, and marketing mix

Which of the following statements is correct regarding different types of markets? a. Under pure competition sellers spend considerable time on marketing strategy and pricing decisions b. In a pure monopoly, the market consists of many buyers and sllers trading over a range of prices c. Under monopolistic competition, the market is dominated by one seller d. Under oligopolistic competition, the market consists of many buyers and sellers trading in a uniform commodity and sellers do not spend that much time on marketing strategy e. Under oligopolistic competition each seller is alert and responsive to competitors' pricing strategies and marketing moves

e. Under oligopolistic competition each seller is alert and responsive to competitors' pricing strategies and marketing moves

Which promotional tool includes presentations, trade shows, and incentive programs? a. Personal selling b. Direct and digital marketing c. Advertising d. Sales promotion e. Public relations

a. Personal selling

Companies setup __________ which allow key customers and value-network members to access product, account, and other data anytime they need to. a. Extranets b. Wireless networks c. Data warehouses d. Websites e. Intranets

a. Extranets

What are the two economic factors that reflect a country's attractiveness as a market? a. Industrial structure and income distribution b. Income distribution and tariffs c. Tariffs and quotas d. Income distribution and monetary regulations e. Industrial structure and tariffs

a. Industrial structure and income distribution

Which of the following correctly identifies what direct and digital marketing offer sellers? a. Inexpensive, efficient, and fast b. Costly, efficient, and fast c. Costly, fast, and effective d. Slow, inexpensive, and efficient e. Inexpensive, effective, and fast

a. Inexpensive, efficient, and fast

One factor that makes management contracting an attractive entry strategy is that __________. a. It yields immediate income b. It is risky c. The company can set up its own operations d. The exported products are in demand in the foreign nation e. It is almost always successful

a. It yields immediate income

The public relations function of __________ is used to build and maintain national or local community relationships. a. Public affairs b. Press relations c. Development d. Product publicity e. Lobbying

a. Public affairs