Marketing finals
Which of the following would be considered an upstream partner in a company's supply chain?
A firm that provides technical enterprise in the production of a product
Which of the following media is most suitable for advertising a product that needs to be demonstrated?
television
When establishing prices, it's important for a manager that "good value" is not the same as
"low pice"
Which of the following sets the price ceiling for a product's pricing?
Consumer perception of value
Which of the following is an effect of the advancement of technology on marketing?
Consumers rely less on marketer-supplied information than in the past.
________ uses buyers' perceptions of what a product is worth as the key to pricing
Customer value-based pricing
__ is the only element in the marketing mix that produces revenue
Price
__ is the sum of all the values that customers exchange for the benefits of having or using a product or service
Price
________ is the only element in the marketing mix that produces revenue.
Price
________ is the sum of all the values that customers exchange for the benefits of having or using a product or service.
Price
________ tends to legitimize products, is very expressive, allows brand or company dramatization, and can build up a long-term image for a product.
Television advertising
Which of the following is a limitation of using digital, mobile, and social media for advertising?
The audience controls content and ad exposure
________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
advertising
Luccia's is a restaurant based in Illinois that exclusively sells Italian food. Luccia's sells the rights to its recipes to a British firm, Clover Trading, which then opens an outlet in London under the Luccia's brand name. Which kind of channel arrangement does Luccia's most likely have with Clover Trading?
a contractual VMS
Which type of channel arrangement is a retailer like Home Depot likely to follow
administered VMS
The aim of ________ is to make ads and brand content so engaging or useful that people want to watch them.
advertisement
Which mode of transportation is best for carrying perishable goods to distant markets?
air carriers
A firm that uses direct marketing would sell its products through ________.
an online website
________ advertising often results in attack ads between competitors.
comparative
Which of the following sets the price ceiling for a product's pricing?
consumer perceptions of value
Rather than just creating and placing "TV ads" or "print ads" or "Snapchat branded stories," many marketers now view themselves more broadly as ________ managers.
content marketing
More than 80 percent of McDonald's restaurants worldwide are owned and operated by franchisees. This illustrates a(n) ________ marketing system
contractual VMS
Integrating the entire distribution chain—from its own design and manufacturing operations to distribution through its own managed stores—has turned Spanish clothing chain Zara into the world's fastest-growing fast-fashion retailer. This is an example of a(n) ________ .
corporate VMS
Changes in technology and the explosive growth of direct and online marketing are having a profound impact on the nature and design of marketing channels. One major trend is toward ________ insofar as product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones.
disintermediation
Each PC produced by HP involves a cost of computer chips, wires, plastic, packaging, and other inputs. Although these costs tend to be the same for each unit produced, they are called ________ costs because the total changes based on the number of units produced.
fixed
ColaBlue, a soft drink manufacturer, is sued by an environmental group for not meeting certain safety standards in its waste disposal. ColaBlue remedies the problem by adding higher-grade filters and purifiers. Which of the following actions by ColaBlue would constitute a public-relations effort to address the effects of the lawsuit and the consequent damage to its brand image?
holding a press conference to explain the remedial steps that ColaBlue has taken
Brandy's, a national candy store chain, decides to open both a coffee house and ice cream shop within their stores to create a multi-faceted experience for shoppers. The company decides to enter into deals with two well-known retailers—The Beanery and Creamy Creations. As stipulated in their respective contracts, The Beanery and Creamy Creations cannot enter into the same type of agreement with any other candy retailers. All three companies will enjoy greater sales, and ultimately profits, from the arrangement. This is most likely an example of a(n) ________ marketing system.
horizontal
A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity is referred to as a(n) ________.
horizontal marketing system
Moving products and materials from suppliers to the factory is known as ________ logistics.
inbound
Inglast, a chocolate producer, is faced with a class action suit when customers found pieces of plastic in boxes of cocoa powder. Inglast settles the case and then releases an advertising campaign to show the new and improved safety seals on all containers of cocoa powder. Which kind of advertisement has Inglast most likely used?
informative
The objective of ________ advertising is to build primary demand.
informative
Which of the following is a disadvantage of using a magazine as an advertising medium?
it involves high costs
In a logistics system, minimizing distribution costs most likely involves ________.
large shipping lots
When establishing prices, it's important for a manager to understand that "good value" is not the same as ________.
low price
Marketers need to know how customers connect with an ad and brand idea as a part of the broader brand relationship. This can be achieved by measuring ________ levels.
media engagement
Which of the following types of promotion tools requires a considerable degree of personal interaction with a customer?
personal selling
The primary objective of ________ advertising is to build selective demand.
persuasive
Which of the following sets the price floor lower limit for a product's pricing?
product costs
Which of the following sets the price floor lower limits for a product's pricing
product costs
Outbound logistics refers to moving ________.
products from the factory to resellers and ultimately to customers
In a promotion mix, ________ performs the functions of building a good rapport with entities outside the company, building up a good corporate image, and handling unfavorable rumors and events.
public relations
Jakarta Tankers Inc. transports fossil fuels all over the United States. Recently one of Jarkarta's trucks wrecked and released thousands of gallons of oil into a freshwater stream near a housing development. Which of these components of the promotion mix should the firm use to handle this problem?
public relations
Which of the following is a cost-effective mode for shipping large amounts of bulk products-coal, sand, minerals, and forest products-over long distances?
railroads
In a just-in-time logistics system, ________
retailers carry small inventories of merchandise to last for only a few days
When Toyota announces a product recall on its Camry model due to a faulty igniter, they are using ________ to coordinate with dealers and car owners.
reverse logistics
In a company's total promotion mix, ________ refers to any short-term incentive that encourages the purchase or sale of a product or service.
sales promotion
Surf's Up, a family-owned business, offers a free surf lesson with the purchase of any surfboard over $200 during the month of May. This is an example of which promotion mix element?
sales promotion
Which of the following media is most suitable for having consumers provide input on product design or features?
social media
Each PC produced by HP involves a cost of computer chips, wires, plastic, packaging, and other inputs. Although these costs tend to be the same for each unit produced, they are called ________ costs because the total changes based on the number of units produced.
valuable
Providing extra amenities to differentiate and support high-priced products is referred to as ________ pricing.
value-added
A ___ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perception of worth
value-based
A ________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth.
value-based