mkt 2

Scenario 20.1 Use the following to answer the questions. ​ Suppose that Maui Jim is considering a new line of sunglasses that would be sold in major department stores. The new line would be positioned as a more distinctive brand than the typical sunglasses sold through department stores, and would be priced higher than other brands in the store, but a lower price line than the current Maui Jim lines that are sold through more specialty stores. In determining the price for this sunglass line, Maui Jim wants to gather information about all brands sold in department stores and about customers' perceptions of those brands. ​ Refer to Scenario 20.1. Maui Jim's plan of gathering information about the other brands sold in department stores, including their prices, would most likely be used in a ____ basis for pricing. Select one: a. cost b. competition c. demand d. customer e. market

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The _____ of a(n) website will have a major impact on whether the customer exhibits loyalty to the site. Select one: a. strength b. quality c. interactivity d. connectivity e. cost

?

Under Armour maintains a good deal of control over how its products are promoted, displayed, and sold. Because of this control, Under Armour would be appropriately described as the channel Select one: a. intermediary. b. captain. c. allocator. d. terminator. e. price leader.

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Which of the following statements is NOT true about training salespeople? Select one: a. Some firms put new employees into the field immediately, before any formal training. b. Sales training for experienced personnel is often scheduled when sales activities are not too demanding. c. Training programs for experienced salespeople usually emphasize product information or new technology. d. Ethics training can be used to improve employee satisfaction and help prevent misconduct. e. Training programs for new sales personnel are never more than two weeks long.

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______ can be considered a public relations tool because what a company executive says publicly at meetings or to the media can affect the organization's image. a. Event sponsorships b. Speeches c. News releases d. Annual reports e. Corporate identity materials

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A low price may boost demand for the product, but a high price will hurt profit margins and may instill in customers a perception that the product is of low quality.

False

A marketing channel is not the same thing as a distribution channel.

False

A marketing manager who anticipates a short product life cycle may favor a status quo pricing objective.

False

A product line is a particular version of a product that can be designated as a distinct offering on the organization's list of products.

False

A psychological price is designed to encourage purchases on the basis of rational response rather than on the basis of emotional reactions.

False

A salesperson can perform only the functions of a specific type of salesperson.

False

Accessory equipment becomes a part of the finished product.

False

Advertisements that promote goods and services are called advocacy advertisements.

False

Because of its speed, electronic order processing provides greater flexibility than manual processing in unique situations.

False

Business customers prefer to deal with producers through intermediaries and thus eliminate much of the burden of sorting out details.

False

By law, manufacturers must be identified on the labels of private brands.

False

Decisions regarding sales promotion do not affect advertising decisions.

False

Drawing together the processes and functions of two or more stages of the channel under one management is horizontal integration.

False

A feature article is longer than a news release and is written for a particular publication.

True

A firm that considers costs and revenue secondary to competitors' prices when setting its own prices is using a competition-based pricing strategy.

True

A marketer's selection of sales promotion techniques is influenced by the state of the competitive environment.

True

A new trend in video marketing is the use of amateur filmmakers.

True

A pricing strategy is a course of action designed to achieve pricing and marketing objectives.

True

A product mix is the composite or total group of products that an organization makes available to customers.

True

A product's classification can influence its price, distribution, and promotion.

True

A salesperson's performance is often compared with the performance of other salespeople operating under similar conditions.

True

Advertising is paid nonpersonal communication transmitted through mass media.

True

An early-bird special offered by a restaurant during off-peak hours is an example of the secondary-market pricing strategy.

True

Because costs for small shipments (under 500 pounds) are sharply higher than costs for full loads in railroad cars and trucks, firms share costs and services by consolidating shipments.

True

Because salespeople are an expense to the company, yet they are the ones who generate revenues for the company, management must strive to achieve optimality in the size of its sales force.

True

_______ involves developing and maintaining adequate assortments of products to meet customers' needs. a. Inventory management b. Materials handling c. Warehousing d. Order management e. Logistics

a. Inventory management

Nizie Garcia works for a cosmetics manufacturer and is responsible for ensuring that retailers have adequate quantities of products when they need them. However, she is directing much of her effort toward helping the retailers promote the products. She would be characterized as belonging to which group of salespeople? Select one: a. Trade salespeople b. Outside sales force c. Advisory salespeople d. Technical salespeople e. Missionary salespeople

a. Trade salespeople

When Starbucks introduced its instant coffee brand, Via, the company only sold it in packages of three single-cup units. Starbucks' primary objective for selling Via in three-unit packages rather than single-unit packages was most likely Select one: a. to encourage the consumer to try the product several times. b. to encourage a higher consumption of all Starbucks products. c. to sell more because of infrequent coffee purchases. d. to reduce costs in the distribution and handling of the Via products. e. to engage in an environmentally responsible behavior.

a. to encourage the consumer to try the product several times.

A list of the exact magazines, newspapers, and television stations in which an advertisement will appear, along with the dates and times, is a(n) a. advertising plan. b. media plan. c. media audit. d. advertising media appropriation. e. media platform.

b. media plan.

​You just finished meeting with your boss and he is very upset about the most recent customer survey results for the firm. A majority of the respondents complained about the limited number of product lines your firm offers. Which of following recommendations should you make to your boss? Select one: a. ​The firm needs to lengthen its product life cycle. b. ​The firm needs to expand the width of its product mix. c. ​The firm needs to shorten its product life cycle. d. ​The firm needs to expand the depth of its product mix. e. ​The firm needs to expand the length of its product mix.

b. ​The firm needs to expand the width of its product mix.

A distributor of plumbing supplies purchases a desktop computer to aid in inventory control. This computer is an example of which type of business product? a. Raw material b. Installations c. Accessory equipment d. Component part e. Process material

c. Accessory equipment

____ are web-based journals in which writers can editorialize and interact with other internet users. a. Widgets b. Apps c. Blogs d. Podcasts e. Wikis

c. Blogs

____ allows customers to express their needs and wants directly to a company in response to its marketing communications. a. Sociability b. Addressability c. Interactivity d. Accessibility e. Control

c. Interactivity

____ are audio or video files that can be downloaded from the internet with a subscription that automatically delivers new content to listening devices or personal computers. a. Wikis b. Blogs c. Podcasts d. Virtual realities e. Social networks

c. Podcasts

A commonly used computerized means of integrating order processing with production, inventory, accounting, and transportation is a. web-based inventory management. b. just-in-time. c. electronic data interchange. d. universal product codes. e. activity-based management.

c. electronic data interchange

A customer must have a particular brand and will accept no substitutes. This is termed brand a. preference. b. loyalty. c. insistence. d. recognition. e. requirement.

c. insistence.

A positive review of a product or service posted on a(n) ____________ can result in a substantial increase in sales of the product or service. Select one: a. news article comments page b. email c. popular blog d. company Web page e. Wikipedia page

c. popular blog

Scenario 19.1 Use the following to answer the questions. ​ Concession Supply sells hotdogs, buns, and nacho ingredients to several major league ballparks across the country. Currently, Concession Supply has the following pricing information for one case of hotdogs sold at Wrigley Field: Total fixed costs = $1,200, Selling price = $16, and Variable costs = $6. Refer to Scenario 19.1. What is the breakeven point in dollar sales volume? Select one: a. $1,200 b. $1,440 c. $3,000 d. $1,920 e. $1,600

d. $1,920

____ involves consumers' ability to be connected with marketers along with other consumers. a. Accessibility b. Addressability c. Interactivity d. Connectivity e. Control

d. Connectivity

When Frito-Lay introduced its Stax brand of potato chips. These chips were meant to compete directly against Pringles. The intent was to gain market share quickly. During the first few months they were on the market, Stax retailed for 69 cents. What type of pricing strategy is Frito-Lay likely using? Select one: a. Price-skimming b. Captive pricing c. Periodic discounting d. Penetration pricing e. Bait pricing

d. Penetration pricing

The textbook authors for this section of MKT3050 are ____________ and ___________. Select one: a. Smith and Smith b. Barker and Zahay c. specific characteristic of a product. d. Pride and Ferrell e. Tanner and Raymond

d. Pride and Ferrell

If the markup is $15 dollars and the selling price is $60 what is the percentage (%) of markup? Select one: a. 5% b. 10% c. 15% d. 20% e. 25%

e. 25%

Your company CEO is a very socially conscious individual who believes in prudently utilizing the resources of the company to promote causes that are good for the environment and society-at-large. She recently asked you to work with the firm's outside ad agency to develop an advertising campaign that articulates the company's concern about climate change.Which of the following types of advertising will you pursue to meet her expectations? Select one: a. Competitive advertising b. Comparative advertising c. Pioneer advertising d. Reminder advertising e. Advocacy advertising

e. Advocacy advertising

Walgreens has set up a website that enables customers to converse with the company and communicate their needs and wants. This is an example of a(n) ____ website. Select one: a. accessible b. controlled c. linked d. addressable e. interactive

e. interactive

TJMaxx, an off-price retailer featuring clothing and housewares, communicates in news story form about its organization and its efforts to support local children's hospitals. This information is transmitted through mass media at no charge and is therefore called Select one: a. news reporting. b. public relations. c. mass communications. d. free advertising. e. publicity.

e. publicity.

Private distributor brands are owned by Select one: a. manufacturers only. b. manufacturers and retailers. c. wholesalers only. d. manufacturers and wholesalers. e. wholesalers or retailers.

e. wholesalers or retailers.

Brand recognition exists when a customer is aware that the brand exists and views it as an alternative to purchase if the preferred brand is unavailable or if the other available brands are unfamiliar to the customer.

True

Channel power is an ability related to influencing the goals of other channel members.

True

Competition-based pricing is important if competing products are almost homogeneous or if price is the key variable in the marketing strategy.

True

Desirable product images can be created through the use of colors, design, shapes, and textures in packaging.

True

Event sponsorship can provide companies with a considerable amount of free media coverage.

True

_______ is an activity or material, or both, that acts as a direct inducement, offering added value or incentive for the product, to resellers, salespeople, or consumers a. Public relations b. Personal selling c. Advertising d. Sales promotion e. Publicity

d. Sales promotion

A missionary salesperson is usually employed by Select one: a. a retailer. b. a wholesaler. c. either a retailer or a producer. d. a manufacturer. e. an independent intermediary.

d. a manufacturer.

Which of the following is NOT a business product? Select one: a. Oil to be refined into fuel b. Chips to be integrated into components for personal computers c. Paper, pens, and tape to be used in an office d. Marketing consulting services to aid a company in marketing a new product e. Calculators bought to help individuals complete their personal federal income tax forms

e. Calculators bought to help individuals complete their personal federal income tax forms

The step in developing an advertising campaign that directly precedes campaign execution is Select one: a. defining advertising objectives. b. creating the advertising platform. c. evaluating advertising effectiveness. d. developing a media plan. e. creating the advertising message.

e. creating the advertising message.