Marketing Final

Coca Cola doesn't need to sign a contract with Vons to carry its soda. Rather, it uses its brand power to negotiate the best placement in the store. This type of marketing system is best described as _______________

Administered Vertical Marketing System

According to the AIDA model, advertising is better at driving _____________ than it is at driving ______________.

Attention and Interest

The cost of making an Apple Computer is not that much higher than the cost of making a Toshiba. Yet, Apple is able to command a higher price premium because it has _______________.

Brand Equity

When ATT sets the general price range of its phone low and its calling plans high, it is practicing _____.

Captive-Product

The makers of Epi-pen came under fire for making the price of its product probitiively high for the millions of people who would benefit from it. While this greatly enriched the company, it seemed unethical to deny the rights of the many for the great profit of the few. This is an example of which of the following ethical reasoning approaches?

Common good approach

Cutting out the middle-man is great - unless you are the middleman. As the internet has grown, distribution channels have become much shorter as producers can sell directly to consumers. This process of removing the middleman and shorting distribution channels is best known as

Disintermediation

Renting a Tux is not such a big deal for Tyler. They're all pretty much the same, so he will get the one Julia tells him looks best and he will try to rent it from the place that offers the lowest price. Tyler's choice of a Tuxedo is best described as

Dissonance Reducing

The public's reaction to business scandals - like the shenanigans of Wells Fargo or the outrageous pricing of the Epi-pen reflect society's concern with

Ethics and social responsibility

Mary offers John, her neighbor's son, $10 to mow her lawn. This is an example of

Exchange

Now, it's your generation's turn. You were alongside the internet. There have always been computers and mobile phones. You're likely to come from a family where both parents work and it's also not uncommon for your parents to be divorced. You have a very high disposable income and are of great interest to marketers. You were born sometime between the end of the last millennium and the current millennium. You are known as

Generation Y

Apple computers are sold at Apple Stores, online, and at Best Buy. The company uses this ___________ distribution channel to target different market segments that prefer different shopping venues.

Hybrid

Companies like Amazon or eBAY rely heavily on third party logistics companies like UPS and FEDEX. Which of the following is NOT a reason why they do this

ICC and the federal government are beginning to mandate and regulate some industries.

When Apple introduces a new iPhone, it prices such that the innovators pay high prices initially, followed by lower prices for early adopters, and laggards eventually pay the lowest price after Apple brings out the next version. This is an example of __________ pricing.

Market Skimming

Under _____, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price.

Monopolistic Competition

Procter and Gamble has several different brands of laundry detergent. Snowy is good for gentle treatment of baby clothes. Tide is great at getting out stains. In the laundry detergent category, Procter and Gamble practices a ____________ strategy

Multi-Brand

Chicken of the Sea and Kroger Brand Tuna are both made by the same company. Chicken of the Sea, the ____________ brand sells for $0.15 more than the Kroger ___________ brand.

National/Private Label

As the old expression goes, "people in hell want ice-water". How ever much they thirst, they do not have the wherewithal to obtain it. That's because they have:

Need and Want, but no Demand

Toyota has very strong brand positioning. It is recognized as a very reliable and practical car. This was a problem when the company wanted to enter the luxury car market. They had to introduce Lexus - which is really a Toyota - but it does not carry the Toyota name. In so doing, the company was employing a _______________ strategy.

New Brand

The purpose of marketing communication is to let people in the target audience know how a company's product or service solves their particular problems better than the competition. In short, it communicates the company's ______________________.

Positioning

Chevron gas offers 3 grades of gas: It charges $3.15 for 87 Octane Regular, $3.25 for 89 Octane Plus, and $3.35 for 91 Octane Premium. This is an example of:

Product line pricing

When a pharmaceutical company uses television advertising that tells you to "ask your doctor" about a particular drug, it is using a _____________ strategy. When that same company provides incentives to doctors who prescribe its drug, the company is using a ____________ strategy

Pull / Push

In Lima, Peru, 20 stores specializing in selling the same quality and brand of wheat products are located on one street. An individual seller cannot charge more than the going price without the risk of losing business to the other stores that are still selling the product at its uniform price. This is an example of what type of market?

Pure Competition

Sometimes, brands become prisoners of their own strong positioning. For example, Cadillac has long been associated with old people and luxury. It is very hard to convince young people that Cadillac is a sporty car for young, hip drivers. Nonetheless, they relaunched a new, smaller model and tried to position it is "The Caddy that Zigs. They had mixed results because it is hard to ______________ a brand in the minds of target customers.

Reposition

Companies are often accused of acting unethically when they withhold information from customers, when they present them with false information, when they violate customer privacy, or don't deliver upon what is agreed. Wells Fargo is a case in point. They opened up phony accounts using customer information without telling customers what they were doing. They withheld information. Some customers even were harmed by Wells Fargo's egregious violations. Which of the following approaches best describes Well's Fargo's unethical behavior?

Rights Approach

Walmart now includes a pharmacy, a bank, and a grocery store. it sells everything from baby shoes to snow tires. In fact, it offers everything you could possibly want or need, By offering so many different things under one roof, Walmart is seeking to maximize its:

Share of Customer

People's concerns about global warming also drive their purchasing decisions, as they choose fuel efficient cars, products made from recycled goods, and minimizing their carbon footprints. These attitudes, and the accompanying marketing strategy are best described by the term ___________________________

Sustainability

Green & Gold is a coffee chain based in the United States. Its management has been trying to refocus on the things that originally made the company successful. For example, Green & Gold stores across the United States recently shut down for a short period of time for retraining, and the company has worked to make sure that customers can smell the freshly ground coffee aroma when they pass by the store. However, when questioned, consumers tend to emphasize on the need for pricing incentives such as a frequent purchasing program. According to the__________, there may be a difference between what customers want and what Green & Gold management thinks customers want.

The Gaps Model of Service Quality

In a famous case, in 1990, a company was forced to honor a coupon from 1950 for a $5 car muffler. By 1990, such a new muffler retailed for $299. This was because:

The original coupon did not include an expiration date, so it was still technically valid.

Which of the following should be LEAST central to the company's mission statement

The products it currently produces

Which of the following is true of supplementary services?

They are usually emphasized to create a competitive advantage

Vac 'N' Sew will give anyone $100 for the family's old vacuum cleaner, regardless of condition, when purchasing a new vacuum or sewing machine. The end result is essentially reducing the price by $100. What is this type of discount called?

Trade-in Allowance

Then again, the Well's Fargo employees opening these accounts may have viewed the potential minor harm to customers as in consequential, compared to the good it would do to increase sales and returns to shareholders. In this case, they might have seen their own actions as ethical by using which of the folllowing approaches?

Utilitarian Approach

When I buy 30 rolls of toilet paper at Costco, the per roll price I pay is likely to be less than I would pay at 7-11 for a single roll. Is this fair?

Yes - I am paying a premium for the convenience of buying a single roll at 7-11 and I am paying less at Costco because I am assuming inventory carrying costs, which ultimately saves Costco Money

Oligopolistic Competition

a few sellers who are highly sensitive of each other's prices. Goods may be uniform or nonuniform.

Pure Monopoly

a single government, private regulated, or private nonregulated seller.

Odor Eaters is a product that, when placed in a shoe, helps absorb foot odor. The maker of the product created an advertisement wherein they show a skunk crawling out of an old shoe. Using the smelly animal to symbolize foot odor, represents which step in the communication process.

encoding

Pure Competition

many buyers and sellers of a uniform commodity at a uniform price.

Monopolistic Competition

many buyers and sellers of differentiated products, at different prices.