marketing quiz 3

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cash discounts

Leicestershire Renovations has a history of problems with customers who do not pay their bills on time. Leicestershire Renovations wants to improve its cash​ situation, reduce bad​ debts, and reduce​ credit-collection costs. Which of the following forms of pricing would most likely help the firm achieve its​ goal?

testimonial evidence

Maybelline used Sarah Michelle​ Gellar, an​ actress, to endorse a new range of cosmetics. This message execution style is referred to as​ ________.

captive product pricing

Multiprint, a printer manufacturing​ firm, sells ink cartridges for each of its specific models. Only Multiprint cartridges are compatible with Multiprint​ printers, and no two models share the same specifications. What type of pricing does Multiprint​ use?

contract manufacturing

One market entry strategy is​ __________, in which the company makes agreements with companies in the foreign market to produce its product or provide its service.

by-product

Using​ ________ pricing, companies are able to turn their trash into​ cash, allowing them to make the price of their main product more competitive.

​Licensing, contract​ manufacturing, management​ contracting, and joint ownership

What are the four types of joint venture entry​ strategies?

To deliver​ clear, consistent, and compelling company and brand messages

What is the goal of integrated marketing​ communications?

The risks the firm faces

What is the main disadvantage of direct​ investment?

Through exporting

What is the simplest way to enter a foreign​ market?

​market-skimming

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.

False

When The Candy Store sets a low initial price in order to get its​ "foot in the​ door" and to quickly attract a large number of​ buyers, the company is using​ market-skimming pricing.

comparative advertising

When Verizon Wireless began offering the​ iPhone, it used its​ "Can you hear me​ now?" slogan to attack​ AT&T's rumored spotty service. This example best illustrates​ ________.

product invention

When using the global product strategy of​ __________, companies create something new to meet the needs of consumers in a given country.

informative advertising

When​ P&G developed the Mr. Clean Magic​ Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by​ P&G for the Mr. Clean Magic​ Eraser?

Licensing

Which joint venturing method typically involves fees and royalty​ payments?

Direct investment

Which market entry strategy has the greatest amount of​ commitment, risk,​ control, and profit​ potential?

Panizza, whose combo meals are priced lower than its individual components sold together

Which of the following companies uses product bundle​ pricing?

discount and allowance pricing

Which of the following is a price adjustment​ strategy?

Foreign firms expand aggressively into new international markets.

Which of the following is most likely to be the consequence of increased growth of global​ trade?

It involves decreased control over the manufacturing process.

Which of the following is true of contract​ manufacturing?

It can be profitably used when the​ product's quality and image support its price.

Which of the following is true of price​ skimming?

deciding which markets to enter

Which of the following major decisions should a company make immediately after it decides to operate​ internationally?

mature brands

Which of the following most likely requires the smallest advertising​ budget?

For a​ market-skimming strategy to be​ successful, the costs of producing a smaller volume cannot be so high that they cancel the advantage of charging more.

Which of the following statements is true concerning new product pricing​ strategies?

comparative advertising

Which of the following types of advertising will most likely result in an advertising​ war?

Personal selling

Which promotional tool includes​ presentations, trade​ shows, and incentive​ programs?

Advertising

Which promotional tool is any paid form of nonpersonal presentation and promotion of​ ideas, goods, or services by an identified​ sponsor?

product adaptation

Kraft has adapted its popular Oreo cookie to the unique tastes of consumers all around the​ world, whether​ it's mango-and-orange flavored Oreos in the Asia Pacific​ region, green tea Oreos in​ China, a chocolate and peanut variety in​ Indonesia, or banana and dulce de leche in Argentina. This is an example of​ ________.

by-product

A lumber mill takes in​ logs, turns them into 2 x​ 4's and other sizes needed for building construction. Wood chips created in the milling process are​ a(n) ________ that can be sold.

reminder

A product in the maturity stage will most likely require​ ________ advertising.

​captive-product

Gillette charges a fairly low price for their razors​ (relative to​ costs) and a high price for razor blades. They are using a strategy of​ __________ pricing.

product line pricing

Go Zone plans to introduce four tablet models over the next year. These models range from basic readers at​ $99 per​ unit, to more sophisticated tablets at​ $399 per unit. The more features a model​ has, the more expensive it is. What pricing strategy is Tone Zone using for its range of​ tablets?

how to enter the market

Immediately after deciding which markets to​ enter, the company should determine​ ________.

​market-penetration pricing

In a bid to attract more customers in a market that has several​ competitors, Barrymore's Bakery slashed the prices of all its products by 50 percent. Managers at the firm reasoned that lower prices would draw in even more​ customers, making up for the reduction in price several times over. Which of the following pricing strategies are they​ using?

reminder

Keeping the brand in a​ customer's mind during​ off-seasons is most likely a goal of​ ________ advertising.

personality symbols

The advertisements that use the Aflac duck or the GEICO gecko are using the message execution style of​ ________.

seasonal discount

The discount offered by Glamor Gifts to customers who bought​ Valentine-themed merchandise the week following​ Valentine's Day is an example of a​ ________.

direct exporting

Think Ink is a growing company that sells a variety of inks for home and business printers. Management at Think Ink has decided to open a sales branch overseas to handle sales and distribution abroad. Think Ink is engaging in​ ________.

Where should we produce or source our​ products?

Which question should most likely be answered by all companies due to the rapid move toward​ globalization?

product line

Whirlpool washers and dryers are offered in many different models. Whirlpool will use​ __________ pricing to determine the price steps between the different models.

promotional allowances

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​ __________.

lifestyle

An ad for Athleta active wear shows a woman in a complex yoga pose and​ states: "If your body is your​ temple, build it one piece at a​ time." This ad uses the​ ________ execution style.

slice of life

An ad for a new convection oven shows a busy professional woman using the convection oven to cook dinner for her family. Which of the following message execution styles is illustrated in this​ example?

remind

An advertising objective is classified by its primary​ purpose, which is to​ inform, persuade, or​ ________.

A straight product extension

Apple​ iPads, Gillette​ razors, and Black​ & Decker tools are all sold successfully in about the same form around the world. This is an example of which global​ strategy?

global

A​ ________ firm is one​ that, by operating in more than one​ country, gains​ marketing, production, research and​ development, and financial advantages that are not available to purely domestic competitors.

competitors can undercut prices easily

A​ market-skimming pricing strategy should NOT be used for a new product when​ ________.

joint ownership

Campbell Soup recently joined forces with Hong​ Kong-based Swire Pacific to form an entity called Campbell Swire to better distribute the​ company's soups in China. This is an example of​ ________.

​By-product pricing

Cheese makers in Wisconsin sell their leftover brine to local city and county highway​ departments, which use it in conjunction with salt to melt icy roads. Which product mix pricing strategy does this​ represent?

Product adaptation

Dunkin Donuts has added menu items that meet the unique taste buds of customers in local​ markets, for​ example, mango pudding donuts in China. This represents which global product​ strategy?

persuasive

Encouraging customers to switch brands is most likely the objective of​ ________ advertising.

personal selling

Extel​ Inc., a home appliance​ manufacturer, uses sales representatives to sell its products to wholesalers and individual customers. This is an example of​ ________.

​product-bundle

Many personal care companies combine toothpaste with a toothbrush at a reduced price. This is an example of​ __________ pricing.

indicator of quality

Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Because she does not know much about​ wine, she will likely use the price of the wines as​ a(n) __________.

wherever it can do the best job

Since the global company sees the world as one​ market, it raises​ capital, obtains components and​ materials, and manufactures and markets its goods​ ________.

public relations

Specific promotional tools used in​ __________ include press​ releases, sponsorships,​ events, and web pages.

access to new consumer markets

What did Selman​ & Saks hope to gain by entering the French​ market?

Sales promotion

​__________ is the promotion mix tool that consists of​ short-term incentives to encourage the purchase or sale of a product or service.

Reach

​________ is a measure of the percentage of people in a target market who are exposed to an ad campaign during a given period of time.

Direct and digital marketing

​__________ involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.


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