Marketing quizzes/assignments 2
What are the four broad characteristics used to classify retail stores?
Service, product lines, price, and organization
Two external factors which must be considered in pricing decisions are __________.
demand and the nature of the market
A(n) __________ shows the number of units the market will buy in a given time period at different prices.
demand curve
New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound and super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing?
Value-added pricing
Which of the following statements regarding customer value-based pricing is correct?
Which of the following statements regarding customer value-based pricing is correct?
The name Plymouth Rock Assurance identifies the company as the seller of its services and products, which is also known as which of the following?
Brand
Which of the following statements regarding green retailing is correct?
Green retailing initiatives extend to helping consumers be more environmentally responsible.
A discount store (for example, Target, Kohl's, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions?
Lower margins and selling higher volume
Which of the following statements about retailer marketing decisions is correct?
Many retailers identify three critical factors for retail success: location, location, and location.
Which of the following are the largest group of wholesalers, accounting for roughly 50 percent of all wholesaling?
Merchant wholesalers
Prior to the merging of three distinct insurance company names into one new name, which of the following best describes the branding strategy used?
Mulitbrands
Which factor sets the floor on setting a product's price?
Product costs
Hammerpress must decide how to price the standard run-rate items it sells, such as business cards, wedding invitations, and posters. Which type of pricing strategy is this?
Product line pricing
If Brady, the owner of Hammerpress, strategically discounts the price of all gift cards by 20% during the holidays and runs a campaign to encourage gift card purchases, he is implementing which type of pricing?
Promotional
The company's choice of its name, Plymouth Rock Assurance, and its motto, "More Than Just Insurance," indicates the company is attempting to position itself in a particular manner. Which of the following would most likely be the intended position of the company?
Superior customer service through its products and services
Omni-channel retailing includes all of the following EXCEPT ________.
changing only the in-store product mix
Which of the following statements is true regarding costs?
Average cost tends to decrease with accumulated production experience.
Hammerpress utilizes different pricing strategies than other printing companies, which sell printers to the home-printing market at a low price point and then sell the continual ink cartridge purchases at a high price point. Which type of pricing strategy is this?
Captive product pricing
Which of the following correctly identifies the three major pricing strategies used by marketers?
Customer value-based pricing, cost-based pricing, and competition-based pricing
Which of the following statements about price is correct?
Customers have put increased pricing pressure on many companies.
The key to Hammerpress's capability to meet its customers' needs and budget goals, while maintaining its profitability, lies in which of the following pricing tactics?
Dynamic pricing
In terms of location, most stores today cluster together. What is the primary reason for this?
To increase their customer pulling power
Prior to becoming Plymouth Rock Assurance, the company marketed three different insurance companies: High Point, Plymouth Rock, and Pallasades. Rebranding the three names into one, Plymouth Rock Assurance, was one part of the overall objective of constantly improving the quality of services and business products. This overall process is known as which of the following?
Total quality management
Which of the following statements is correct regarding different types of markets?
Under oligopolistic competition each seller is alert and responsive to competitors' pricing strategies and marketing moves.
Which of the following best describes the type of product Plymouth Rock Assurance offers?
Unsought product
A cluster of between 15 and 50 retail stores that usually contains a branch of a department store or variety store, a supermarket, specialty stores, professional offices, and (sometimes) a bank is a __________.
community shopping center
Retailing today requires __________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
omni-channel retailing
A large ink jet printing company enters the letter press market and sells its printing services at a loss just to drive Hammerpress out of business. This is an example of _________.
predatory pricing
Which of the following is a recent trend in wholesaling?
Less distinction between large retailers and large wholesalers
The strategy of __________ means that the firm attempts to offer the right combination of quality and good service at a fair price.
good-value pricing
