Marketing FInal

Which of the following statements is true with regard to growth in global markets?

Changes in technology, especially communications, have been a driving force for growth in global markets for decades.

All of the following are federal agencies that regulate advertising activities except the

FRS

A demand curve shows the relationship between income and demand.

False

A pricing strategy and a pricing tactic are essentially the same thing.

False

A pulsing advertising schedule uses periods of heavy advertising followed by periods of no advertising.

False

After seeing advertisements for the Toyota Prius, Joey becomes interested and does some Internet research. However, after seeing the price for a new model, he decides to purchase a Ford Fusion instead. This is an example of the lagged effect.

False

Glocalization refers to a global marketing strategy in which each of the four Ps is customized for each country.

False

In a joint venture, the burden of ownership, control, and profits is not shared.

False

Ken is trying to promote his new, self-published financial guidebook. By directly promoting it to readers in Wall Street Journal, he is using a push strategy.

False

Quick response (QR) inventory systems allow retailers to maximize their inventory holdings.

False

Universal product codes (UPCs) are used to describe products for inventory taxation purposes.

False

When Sony released its PlayStation 4 game console, it charged a high price, attracting the most avid game players. This was a market penetration pricing strategy.

False

When businesses support cultural or sporting events, such as the Discover Orange Bowl football game, this is known as cause-related marketing.

False

________ price fixing occurs when competitors collude to control prices, and ________ price fixing occurs within a marketing channel to control prices passed on to consumers.

Horizontal; vertical

________ are special incentives or excitement-building programs that encourage consumers to purchase a particular product, typically used in conjunction with advertising or personal selling programs.

Sales promotions

What do the BRIC countries have in common?

They are experiencing significant levels of economic growth.

A high/low pricing strategy relies on the promotion of sales, during which prices are temporarily reduced to encourage purchases.

True

A television ad showing a crowd holding candles and singing "I'd like to teach the world to sing," followed by the words "Happy Holidays from your Coca-Cola bottler," is an example of reminder advertising.

True

Dynamic pricing is also referred to as individualized pricing.

True

Encoding means converting the sender's ideas into a message, which could be verbal, visual, or both.

True

In U.S. markets, there are many substitute products for Fruit Loops cereal, suggesting the price elasticity of demand for Fruit Loops is high.

True

India is one of the fastest-growing markets and has one of the youngest populations in the world.

True

Price lining is setting a price floor and a price ceiling for a line of products and then setting price points in between to represent differences in quality.

True

The vertical marketing system that exhibits the most formalization and control is the corporate vertical marketing system.

True

Twitter is a form of blogging, and is increasingly used to reach current or potential customers.

True

When manufacturers such as Avon sell directly to consumers, they perform both production and retailing activities.

True

When using a rule-of-thumb method for IMC budgeting, prior sales and communication activities are used for guidance.

True

A(n) ________ is a 13-digit code retailers can use to track inventory.

UPC

For which of the following is demand likely to be most sensitive to price increases?

a specific brand of soft drink

The XYZ Company is collaborating with a competitor on a globally based opportunity for mutual benefit, but the two competitors are not investing in one another. This is an example of

a strategic alliance.

Because of its size and relative power, Walmart can easily impose controls on small manufacturers, such as Brown Betty Dessert Boutique, but with large, powerful suppliers such as P&G, the control is more balanced between parties. Walmart's various marketing channel relationships offer examples of different forms of a(n) ________ marketing system.

administered vertical

Frank's Heating and Air Conditioning Company specializes in electric heat pumps. Frank keeps track of the price of natural gas, knowing that

an increase in the price of natural gas will increase demand for his electrical heating systems.

Which of the following is most effective in building brand image, listing details about retail locations, and educating customers about products and services?

corporate website

Retailers use ________ because they believe their use will induce customers to try new products, convert first-time users to regular users, increase purchases, and protect market share.

coupons

A "no haggle" pricing policy is a type of _____ pricing strategy.

customer-oriented

Which of the following is the least interactive IMC strategy?

direct marketing via catalog

The Salvation Army runs a campaign over the Christmas holidays called the Mobile Bell Ringer. Volunteers send text messages to their friends' cell phones asking them to donate. Which type of marketing communication does this represent?

mobile marketing

Cross-price elasticity is the

percentage change in quantity demanded of Product A compared to the percentage change in price of Product B.

There is an old saying "If you have to ask the price of a yacht, you cannot afford it." Products like yachts are most likely to be associated with

prestige pricing.

TT TOYS manufactures toys. The company recently started buying paint for its toys from a Chinese firm. This Chinese company is part of TT Toys'

supply chain.

One of the advantages of niche media is it often allows marketers to

target a specific audience.

Julie is driving down Interstate 95 on her way from New England to Florida and sees a billboard saying "South of the Border Restaurant and Motel is just 100 miles away." Julie has never heard of South of the Border before. After seeing the sign, she will most likely need additional exposure to the product before deciding whether to stop at South of the Border. This is an example of

the lagged effect.

A reference price might be considered deceptive if

the reference price has been inflated or is fictitious.

Neville is trying to create an advertising message that tells consumers how his company's cable and Internet services differ from other alternatives in the market. Neville is trying to create a(n)

unique selling proposition.

A(n) ________ is a supply chain whose members act like a unified system.

vertical marketing system

Michael laughed at some of the cultural mistakes companies made in advertising and promotion in international trade while he was in school. Now he was trying to determine what had gone wrong with the campaign he had planned in Latin America for his company's product, and it didn't seem quite as amusing. He narrowed the issues to sociocultural factors. He was looking at both ________ and ________.

visible artifacts; underlying values