Marketing final

If Wilson Sporting Goods faces a standard demand curve that exists for most products, as it raises the price of its tennis rackets, the____________. a. quantity demanded increases. b. demand remains constant. c. quantity demanded goes down. d. demand increases. e. breakeven increases.

c

Which of the following best describes wholesalers? a. Organizations that buy products from producers and sell them to retailers. b. Individuals or organizations that purchase products and then resell them to other businesses and consumers. c. Organizations or individuals who buy products for resale to government, reseller, producer, and institutional users. d. Organizations or entities that buy products from government, reseller, and producer users and sell them to customers in bulk. e. Companies that make products that have a general appeal and are resold to retailers for a profit.

c

____ provide businesses with copywriters, artists, production coordinators, media experts, researchers, and other highly skilled specialists.a. Public relation firmsb. Media companiesc. Advertising agenciesd. Production companiese. Promotion experts

c

__________ is anything that reduces an integrated marketing communication's clarity and accuracy.a. Feedbackb. Channel capacityc. Noised. Communication channele. Coding process

c

Ariana is planning to open an upscale dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at the time? a. Scrambled merchandising b. Production depth c. Product mix d. Location e. Retail positioning

d

At the breakeven point,________________. a. the marginal revenue of a product is exactly equal to the marginal cost of producing one more unit. b. the total fixed costs are exactly equal to the total variable costs. c. profits are exactly equal to the difference between revenue and total variable costs .d. the money a company brings in from selling products equals the amount spent producing the products. e. the marginal cost curve and the average cost curve will be identical for a particular product.

d

Laws, government regulations, and industry self-regulation ______________ deceptive promotion.a. have done nothing to decreaseb. have caused an increase inc. have eliminated alld. have helped decreasee. have created new forms of

d

What is the number one reason why does a company need to know what stage of the product life cycle its products are in? a. To prevent imitators from entering the market b. To find new uses for the product c. To predict the length of the life cycle d. To adapt its marketing strategies e. To be complying with social responsibility

d

Which phase of the Product life cycle is a downward turn in sales leading to the demise of a product? a. Introduction b. Growth c. Maturity d. Decline e. All of above

d

Why profits typically decline for a company that first introduced a product during the growth stage of a product's life cycle? a. Because production is more inefficient b. Because sales decline in the growth stage c. Because marketing strategies are adjusted d. Because competitors have entered the market e. Because production is more efficient

d

You are the marketing manager for a multi-state auto dealership in the Southeast United States. It is that time of year when your fleet of autos goes through a major model year change. You are putting the final touches on your pricing strategy to facilitate this change in your inventory of autos. Which of the following pricing strategies will you use to facilitate this model year change? a. Negotiated pricing b. Secondary-market pricing c. Differential pricing d. Random discounting e. Periodic discounting

e

What is the main characteristic that differentiate retailers and wholesalers? In what ways do retailers add value to products?

A retailer is an individual or organization that sells products to the final consumer. On the other hand, a wholesaler is an individual or organization that sells products that are bought for resale, for making other products or for general business operations. Retailers add value for customers by creating time, place, and possession utility and, in some cases, form utility. Retailers can add significant value to the supply chain, representing a critical link between producers and ultimate consumers.

Price is said to be the most flexible of the four variables in the Marketing Mix, but still subject to influence of several factors. List and explain three of them.

A. Pricing decisions can be complex because of the number of factors to be considered 1. There is considerable uncertainty about the reactions to price among buyers, channel members, and competitors.2. Price is also an important consideration in marketing planning, market analysis, and sales forecasting.3. It is a major issue when assessing a brand's position relative to competing brands. B. Organizational and Marketing Objectives1. Marketers should set prices that are consistent with the organization's goals and mission.

In the context of marketing promotion strategies, what are the main differences between Personal Selling and Sales Promotion ? You can use examples to give your answer.

Personal Sales is typically a paid personal communication that attempts to informs customers and persuades them to buy products in an exchange situation. It is normally done on regular basis, face to face, one-to-one and as such, very costly. But its main advantage is the immediate feedback. Classical example would be car dealers or jewelry stores. Sales Promotion main characteristic is its temporary effect, typically done on a campaign basis. Most common technique are coupons and free trials. It can be done by existing companies, for example Subway coupons on the mail, or for new business or new products, like the cosmetic industry does frequently when launching a new fragrance or lotion.

Explain the difference between price competition and non-price competition and name the conditions for these methods to be effective.

Price competition emphasizes price as an issue and matching or beating competitors' prices. To compete effectively on a price basis, a firm should be the low-cost seller; Must be willing and able to change prices frequently to meet competitors' pricing; May lead to price wars. Non-price competition emphasizes factors other than price to distinguish a product from competing brands. A major advantage is a firm can build customer loyalty. Only effective if: A company can distinguish its brand from others; Buyers are able to perceive these distinguishing characteristics and view them as important; The company promotes the brand to establish its superiority.

In the context of Marketing Communications, what is PR (public relations) and for what purposes is it used?

Public relations (PR) are communication efforts used to create and maintain favorable relations between an organization and its stakeholders. PR is generally used to create a positive image of the company in general or when Companies may have to deal with unexpected and unfavorable publicity resulting from: an unsafe product; an accident

What is direct marketing? Give three examples of it.

The use of the telephone and other nonpersonal media to introduce products to consumers, who then can purchase the products through the mail, telephone, or the Internet is called direct marketing. Typical examples would be telemarketing, catalogs, cupoming, online retailing, direct mail, email marketing.

A set of approaches used to integrate the functions of operations management, logistics management, supply management, and marketing channel management so products are produced and distributed in the right quantities, to the right locations, and at the right time is called a. supply chain management. b. vertical channel integration. c. industrial management. d. industrial distribution. e. marketing management.

a

Advertising that aims to create a more favorable view of a company as a whole in the eyes of various stakeholders is called ____ advertising.a. institutionalb. productc. organizationald. pioneere. advocacy

a

Considering the Principles of Marketing, pricing strategies and methods____________. a. help direct and structure the selection of a final price. b. are the last decisions made for a new product. c. are the same for all of a company's products. d. are the most important decisions made for a product. e. require limited planning on the part of management.

a

If any company decides to make changes in its marketing channels, the strategic significance is that channel decisions are a. long-term commitments. b. short-term commitments. c. easier to change than prices. d. easier to change than promotion. e. impossible to change.

a

Luke is a transportation coordinator for Volkswagen of North America. In order to move a large order of vehicles from a plant in Germany to Chicago, he is planning to use both waterways and railroads. The combining and coordinating of these two modes of transportation in order to take advantage of benefits offered by each of the different types of carriers is called a. Intermodal transportation. b. Transportation piggybacking. c. Containerized movement. d. Efficiency transportation e. Freight forwarding.

a

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

Sayyid's company has launched a new product line, and he is put in charge of sales. He decides his first step will be to find potential customers in the company's sales records. Sayyid is_______.a. prospecting.b. screening.c. researching.d. pre-approaching.e. Surveying.

a

The _____ design element of an advertisement is used to attract attention, communicate an idea quickly, or communicate ideas that are difficult to put into words; the ____ is the physical arrangement of the illustration, headline, subheadline, body copy, and the signature.a. Illustration; layoutb. Headline; layoutc. Layout; designd. Layout; storyboarde. Signature; layout

a

Look at the following examples of product changes. Identify the type of product modification: a. A few years ago, Apple released a new model of the iPhone equipped with the intelligent personal assistant Siri______________ b. Gap introduces a popular summer T-shirt in a new color. ______________ c. Kraft begins changing the packaging of its snack foods to make them easier for elderly customers to open. ______________ d. Prada decided to change the design of one of its more expensive handbags. ______________ e. Smartphones are being made waterproof in case of accidents. ______________ f.A coffee shop decides to offer its coffees made with organic milk. ____________

a. functional b.aesthetic c. functional d. aesthetic e. quality f. quality

Look at the following examples of products. Identify whether the product is in the introduction, growth, maturity, or decline stage of the product life cycle: a. Smartphone______________ b. Print Encyclopedias______________ c. Google Glass______________ d. Quaker Oats______________ e. 3-D Television______________ f.Coca-Cola Classic______________ g. CD Players______________ h. Tablet Computers______________

a. growth b.decline c.introduction d. maturity e. decline f. maturity g. decline h.growth

For the following examples, identify the stage of the product-development process that applies: a. Samsung determines whether developing a smartwatch would contribute significantly to sales and profits. ______________ b. Tide released a smaller, more basic version of its detergent in the Southeast to see how it would sell. ______________ c. A team at 3M gets together to brainstorm on new product introductions. ______________ d. Starbucks provides a small group of customers with a written description of a new drink to gauge their reaction. ______________ e. A car company is in the process of building a car that uses hydrogen for fuel. ______________ f.Caterpillar just released a new model of bulldozer across the United States. ______________

a.business analysis b. test marketing_ c. idea generation__________ d.concept testing_ e.product development___________ f.commercialized_

9. Supermarkets, discount stores, and hypermarkets can all be classified as____: a. superstores. b. general merchandise retailers. c. department stores. d. specialty retailers. e. off-price retailers.

b

A marketing channel is defined as a group of individuals and organizations that____: a. consumes about one-half of every dollar spent on products in the United States. b. directs the flow of products from producers to customers. c. links producers to other marketing intermediaries. d. takes title to products and resells them. e. manages transportation and warehousing functions.

b

All of the following are key areas of sales force management except:a. compensating salespeople.b. coordinating sales promotion efforts.c. recruiting salespeople.d. training sales personnel.e. motivating sales personnel.

b

Brands that are promoted through comparative advertising are most likely to bea. market leaders.b. brands that are attempting to compete with market leaders.c. primarily services rather than tangible goods.d. attempting to compete on a nonprice basis.e. competing in a less competitive market.

b

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

b

Price is considered to be the variable in the marketing mix that is_______. a. Least flexible. b. Most flexible. c. Most difficult. d. First to be decided. e. Last to be decided.

b

Tropicana orange juice has a television commercial where a young boy is drinking orange juice at dinner. He remarks that he likes the great taste of Tropicana anytime. The element of the commercial that focuses on drinking orange juice at dinner would be best classified as ---, while the focus on the great taste of Tropicana would be best classified as -------.a. comparative advertising; informative advertisingb. pioneer advertising; competitive advertisingc. institutional advertising; stimulating primary demandd. product advertising; institutionale. comparative advertising; competitive advertising

b

Which of the following is a way that a business can extend the life cycle of an established product? a. promoting the product to current users b. finding new uses for the product c. there is no such an extension of the product life cycle d. restricting distribution e. attracting customers who are innovators/early adapters

b

Which of the following is an overall goal of the promotional mix?a. To decrease operating expensesb. To persuade consumers to buyc. To convey a message inexpensivelyd. To have the right goods availablee. All of the above

b

A major disadvantage of personal selling is that ita. is not remembered as well by consumers as advertising messages are.b. cannot easily adjust the message to satisfy a customer's information needs.c. is very expensive per contact.d. does not provide immediate feedback.e. is not compatible with other promotional activities.

c

Jamba Juice offers its customers a stamp card that allows them to receive a free smoothie after they have filled an entire card. This is an example of a ---------.a. free sample.b. rebate.c. frequent-user incentive.d. premium.e. consumer contest.

c

Kate owns a refreshment-stand business at the community ballpark. She goes to a warehouse store like Sam's and purchases snacks and canned soda that she will sell at her refreshment stand. Kate is considered a(n) a. wholesaler. b. broker. c. retailer. d. intermediary. e. agent.

c

Mary and Julian both are buying new iPhones this week. Mary goes to the Apple store because she wants to actually see the phone before she makes a final decision. Julian knows that he does not need to see the phone, because he just wants to update from his older version. Mary is purchasing her phone through_____, while Julian is purchasing his through ___. a. an indirect-marketing channel; the most efficient channel of distribution. b. the most common type of marketing channel; an indirect channel. c. a retailer; a direct-marketing channel. d. a business-to-business channel; a direct-marketing channel. e. a retail channel; an indirect-marketing channel

c

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

c

Product placement is the strategic location of products ________________. a.in television commercialsb. in print advertisements Page 2 of 6c. within entertainment media contentd. on billboards in busy intersectionse. on store shelves

c

The cost of--------is usually substantially lower than the cost of --------. a. stimulating primary demand; stimulating selective demandb. identifying prospects; encouraging product trialc. retaining existing customers; acquiring new customersd. comparative advertising; pioneer promotione. personal selling; public relations

c

The target audience for an advertising campaign is the Page 3 of 6a. information base on which to develop the campaign.b. geographic distribution of persons.c. people toward whom the advertisements are directed.d. overall goal of the advertising campaign.e. sales objective to be achieved by the campaign

c

When Volvo's advertising campaign mentions the Volvo CX60 has the highest safety rating of any European sedan, it is using _______ advertising.a. Reminderb. Reinforcementc. Competitived. Defensivee. Institutional

c

Brittany is choosing the type of media for a new promotional campaign for Halls cough drops. She knows that each type of media has both benefits and disadvantages. She is considering the Internet as a form of media. Which of the following is NOT a disadvantage of the Internet as a promotional medium?a costs of precise targeting are high.b. effects of promotion can be difficult to measure.c. there are concerns about privacy.d. the message must be short and simple

d

Jake, a sales representative is returning from a week on the road. One of his activities this week is to develop ____, which are designed to identify the customers called on and to present detailed information about interaction with those clients.a. Sales Invoicesb. Feedback noticesc. Expense reportsd. Call reportse. Recall files

d

Netflix sells its movie services using its website while Red Box sells its movie services using vending machines. From a customer's point of view, Netflix is using ____ and Red Box is using ___. a. a direct marketing channel; a slightly shorter channel. b. a direct-marketing channel; an agent. c. an Internet wholesalers; a retailers. d. a direct-marketing channel; a type of retailer. e. an Internet wholesaler; a slightly longer channel.

d

Suppose Toyota also offered the dealership salespeople a trip to Hawaii for anyone who could sell ten of the new vehicles within the first month they were available? This tactic would be an example of ____ marketing, while the TV commercials described above would be an example of ____ marketing. Page 6 of 6a. pull; pushb. personal selling; pushc. pull; sales promotiond. push; pulle. personal selling; sales promotion

d

According to the Principles of Marketing, Price is best defined as________. a. money paid in a transaction. b. not important to buyers. c. of limited interest to sellers. d. the most inflexible marketing mix decision variable. e. the value that is exchanged for products in a marketing transaction.

e

Personal selling goals include finding prospects, convincing prospects to buy, anda. monitoring new products being developed.b. being aware of competitors' sales activities.c. seeking one-sale customers.d. avoiding repeat transactions. Page 5 of 6e. keeping customers satisfied.

e

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

e

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

e

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 is useful in determining whether retailers have increased their sales over the year.c. It gives an indication of how the advertising message is best presented.d. Objectives become more easily attainable when such a statement is included.e. Without a reference point, it is difficult to determine to what degree objectives have been accomplished.

e