marketing

Carla owns a candy store called "Carla's confections". She just finalized an arrangement where she will operate one of her stores next to the floral department of a local grocery store. She will pay rent for the space and will be responsible for all aspects of her business. What is this type of arrangement called?

A leased department

Category management is a merchandising technique that focuses on the performance of

A product category

All of the following are advantages of using a price bundling strategy except: A) it leads to reduce selling costs B) it benefits the consumer more than the firm C) bundled packages can be sold for a higher price. D) it leads to reduced advertising costs. E) it can lead to higher profits for the firm

B

Compare the following statements and select the one that is accurate regarding a profit maximization strategy. A) A profit maximization strategy sets prices low to encourage a greater volume of purchases and lower the level of involvement for the consumer. B) Profit Maximization assumes that customers value a product's differentiating attributes and are willing to pay a higher price to take advantage of those attributes. C) For a profit maximization strategy to work over the longer term, the firm must have significant cost or resource advantage over competitors.

B

Which market-based approach seeks to match the competitor's sales force size to ensure competitive coverage?

Competitive benchmarking

A section in a contract that ensures that providers of goods and services do not encounter unreasonable financial hardship as a result of uncontrollable increases in the costs of or decreases in the availability of something required to deliver products to customers is referred to as a(n) A. protective clause. B. hardship clause. C. materials clause. D. escalator clause. E. control clause.

D

Amy just took a job with a scrap metal collection company. Her job is to search for potential customers that need to get rid of scrap metal or those customers who wish to buy scrap metal. Amy's job fits into the first step of the personal-selling process, that of A. advertising. B. personal selling. C. sales promotion. D. prospecting. E. public relations.

D

Which of the following statements about the follow-up step of the personal-selling process is not true? A) The follow-up step may uncover new customer needs and wants B) The follow-up step is critical to creating customer satisfaction. C) Building long-term relationships with customers is part of the follow-up step. D) The follow-up step is not needed for repeat customers. E) Referrals can often be discovered in the follow-up step

D

According to your text, which of the following is not a fixed cost: A) Advertising B) Rent C) Salaries D) insurance E) material

E

All of the following are primary roles of a sales manager except: A) working with assigned field reps. B) establishing sales objectives C) serving as a conduit for disseminating information D) recruiting and training employees E) finding new customers.

E

The sale of branded products through legal but unauthorized distribution channels is referred to as the:

Gray market

In a study of sales and marketing executives, what percentage believed that their salespeople have lied on a sales call?

More than half

Located on a college campus, Ben's Burger Barn charges $4.99 for its burger basket. However, students receive a 10% discount off the price for showing their student ID. This is an example of

Price discrimination

Technology-enabled tools and processes that provide guided selling assistance to various selling roles are referred to as:

Sales playbooks

Katie wants to start her own store in fashion, targeting a very narrow market segment. If this business carried a deep assortment of a specific type of clothing, which type of physical retail store would be most ideal for her business?

Specialty store

What is social selling?

The use of online, mobile, and social media to engage customers, build strong customer relationships, and increase sales.

The best-known framework for explaining changes in retail institutions in terms of how retail outlets enter and move through the market is referred to as the:

Wheel of retailing

How is the distribution of retailers along a price continuum shown?

following a bell curve

In contrast to tools such as advertising and sales promotion, personal selling is often a much more effective tool

in complex purchase situations

A retailer wanting to incorporate self-service into its stores may choose to

incorporate an in-store kiosk

Deceptive pricing involves

intentionally misleading customers with price promotions

One of the most important concepts in marketing is the price elasticity of demand, which is the

percentage change in quantity demanded in response to a percentage change in price.

Large regional shopping malls and neighborhood strip malls are examples of

planned shopping centers

Tristan has been calling on the same customer for years. He handles all of the company's orders and quickly resolves any issues that may come up. On occasion, Tristan takes some of the company employees out to dinner and has even given them tickets to local sporting events. Tristan is involved in

relationship selling

An organization purchases products with the intention of selling them to the ultimate consumer for their personal, family, or household use. This organization is a:

retailer

The direct selling business model in which a direct seller makes money by buying products from a parent organization and selling them directly to customers is called:

single-level marketing

Keenan owns a retail store. He often receives payments from some of his manufacturers to ensure their products are placed in the best location in the store or on the store shelves. These payments are referred to as:

slotting allowances

What is the function of a channel sales representative?

to secure new distribution intermediaries