Principles of Marketing Exam 3
A new specialty tea shop opened up town. In order to lure customers into the store, the owners sent their most popular teabag to 5,000 potential customers. This is an example of
A sample
An image or line of text that prompts visitors, leads, and customers to perform a desired action is referred to as a call to
Action
Nonpersonal promotional communication about goods, services, or ideas that is paid for by the firm identified in the communication is referred to as
Advertising
Traditionally, the biggest disadvantage of radio advertising has been that radio ads
Are audio-only
As a sales promotion tactic, why do marketers prefer using rebates?
Because customers often fail to redeem them
According to your text, one of the most common mistakes in modern price is
Charging someone less than they are willing to pay.
Direct marketing refers to advertising that
Communicates directly with consumers and organizations in an effort to provoke a response
One of the most commonly used pricing tactics, markup pricing, is also referred to as
Cost-plus pricing
Intermediaries through which the flow of products travels are called
Distribution channels
For the first quarter of the year, the price of the company's most popular e-reader was $129.00. The company sold 750,000 units at this price. For the second quarter, the company decided to reduce the price of the e-reader to $109.00. At this rice point, the company sold 1.5 million units indicating that the demand for the product is
Elastic
Data management systems that integrate information across all departments of an organization are called
Enterprise resource planning (ERP) systems
What acronym describes the incredibly short window of three to five seconds after a shopper first encounters a product on a store shelf?
FMOT
Of all the various platforms for social media marketing, surveys indicate 96 percent of B2C respondents say their business uses which one as a marketing tool?
By interacting with consumers in a fun, helpful,a and interesting manner, social media can held build a successful brand in tow main ways: by allowing the firm to develop deeper relationships with customers and by
Generating positive word-of-mouth communication about the brand.
In the development phase of website design, which of the first page that is typically created?
Home page
What type of advertising attempts to develop initial demand for a product?
Informative
Mars, Inc., makers of Snickers candy bars launched its You'er Not You When You're Hungry promotion campaign. The company's television commercials portrayed regular people disguised as celebrities behaving badly because they were hungry. Along with the commercials, print ads were released featuring inversion illusions showing the difference between someone whose hunger is satisfied and someone whose hunger is clearly not. In addition, the print ads included a coupon for Snickers candy bar. This type of promotional strategy is referred to as
Integrated marketing communications hi
A British company manufactures specialty teas and sells them to a retailer in Estes Park, Colorado. In order to get the product to the end-user, the teas ares shipped via ocean liner to the port in the Gulf of Mexico and then placed on a railway car to Denver, Colorado. From Denver, the tea is placed on a truck and taken to the retailer in Estes Park. This is an example of
Intermodal transportation
Which of the following is not an element of the promotion mix?
Internet ordering
One advantage to using magazines as an advertising medium is
Its ability to target specific audiences.
Foursquare and Gowalla are two types of
Location-based apps
Those activities that focus on deliver the right product, to the right place, to the right customer, at the right time, in the right quantity, in the right condition, and the right price is referred to as
Logistics
Which of the following statements reflects the underlying philosophy behind the concept of supply chain management?
No company is an island.
The process of getting more traffic based on higher ranking of free or "organic" search results on search engines is referred to as search engine
Optimization
Volume maximization is also referred to as
Penetration pricing
The two-way flow of communication between a salesperson and a customer that is paid for by the firm and seeks to influence the customer's purchase decision is referred to as
Personal selling
The amount of something that a buyer exchanges with a seller to obtain a product is referred to in marketing terms as a
Price
When Sony launched its new PS4 gaming system, the product was sold as a package that included the game console, game controllers, wireless headset, and one video game. This is an example of
Price bundling
Located on a college campus, Ben's Burger Barn charges $4.99 for its burger basket. However, students receive a 10% discount off the price for showing their student ID. This is an example of
Price discrimination
The three largest manufacturers of solenoid valves for plumbing applications conspired together so that all three firms would charge the same price for a 3-way valve. This is an example of
Price fixing
When Apple released its first iPhone, it charged customers $599. Shortly thereafter, it reduced the price to $399 for the exact same device. Apple's decision to set a relatively high price for a period of time after the product launched then decrease the price to a level that would be more sustainable over time relects with price strategy?
Profit maximization
The marketing mix element where most of an organization's communications with the marketplace occurs is
Promotion
After the economic recession, the boating industry suffered from a decline in ales. However, recent sales forecasts indicated that the upcoming season will produce a strong demand for boats and boating equipment. Based on this, Les has decided to ramp up production this winter of both his bass fishing boats and speed boats, keep them in storage until the boating sales season officially resumes, and hop that customers will buy them. This is an example of a
Push strategy
Damages, inconsistent service and lack of accessibility are all disadvantages of
Rail transportation
Which of the following is not an outcome of providing more responsive customer care?
Reduced competition
Which element of the promotion mix refers to the set of nonpersonal communication tools designed to stimulate quicker and more frequent purchases of a product?
Sales promotion
Sunny pines campground, located in the Midwest, promotes the months of September and October as its value camping months. During this time, it offers reduced rates on camper rentals and campgrounds. IT does this, in part, because the weather is not as favorable for camping at this time. The pricing tactic Sunny Pines is using to encourage camping during these months is most likely
Seasonal discounts
Social media monitoring is also known as
Social listening
Internet-based applications that enable users to create their own content and share it with others who access their sites are referred to as
Social media
A commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own needs is referred to as
Sustainability
Which of the following is not one of the phases of the website design process?
Synchronizing
High cost is the biggest disadvantage to which form of advertising?
Television
What is marginal revenue?
The change in total revenue that results from selling one additional unit of a product
Which of the following accurately descries break-even analysis?
The process of calculating the sales volume needed to achieve a profit of zero.
A supply chain refers to
The set of three or more companies directly linked by one or more of the upstream and downstream flows of products, services, finances, and information from a source to a customer
What is the major disadvantage of publicity as a promotion mix tool?
There is less control over how the information is presented.
A company that outsources some or all of its logistics activities to other companies is engaged in
Third-party logistics
According to your text, the ultimate objective of supply chain management is
To integrate the activities of related companies so the function as one extended enterprise
Compare the various modes of transportation. Which one has a low cost and a very high capacity, but is slow in delivery?
Water transportation
Search engines create an index of all web content by using automated software programs called
Web crawlers