Marketing Test 3
A supply chain refers to
A 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.
According to conversion expert Chelsea Baldwin, which of the following will help improve CTA conversion rates?
Add visual cues to CTAs
Firms typically determine their promotional budget using one of three methods: the affordable method, the percentage-of-sales-method, and the A. total sales method. B. market demand method. C. objective-and-task method. D. principal accounting method. E. cost-per-media method.
C. objective-and-task method.
Which of the following people on a website design team is using a wireframe?
Calvin is putting a framework together of how the website should function.
In November, the appliance store priced its front-loading washing machines at $899.00 and sold 50 units ($44,950). In December they reduced the price to $799.00 and sold 53 units ($42,347). Which of the following statements is accurate regarding this situation?
Demand is inelastic and total revenue fell from November to December
Jared decided to remove himself from social media for one week. During that time, he did not check his Facebook, Twitter, Instagram, or Snapchat accounts. It didn't take long for Jared to feel isolated and that he was missing out on what was happening around him. What acronym has been linked to the feeling Jared experienced?
FOMO
Which of the following is true regarding the use of domain names?
It helps if a company's domain name is the same as its brand.
Which of the following persons is using social media to act as a brand ambassador?
Noah, who posts pictures of him and his friends drinking Red Bull at a ski resort
Compare the following statements and select the one that is accurate regarding a profit maximization strategy.
Profit maximization assumes that customers value a product's differentiating attributes and are willing to pay a higher price to take advantage of those attributes
Jenna was excited to purchase a Bluetooth wireless speaker. She brought her purchase home and is now using it for the first time. What acronym represents where Jenna is at in the purchase process?
SMOT
the price strategy of unbundling involves
Separating out the individual goods that make up a product and pricing each one individually
Which of the following is an example of geo-fencing?
Tyler received an e-mail message about upcoming Black Friday deals.
A new specialty tea shop opened up in 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
At a local fair, Ford hosted a booth and brought several models of its cars for customers to sit in and look at up close. Customers were then encouraged to fill out a comment card letting Ford know what their favorite model car was. At the end of the fair, one comment card would be chosen by the company and that person would win the car of their choice. This is an example of
a sweepstakes
A concise yet authoritative report or guide that seeks to inform readers about a complex issue and presents the issuing body's philosophy on the matter is referred to as
a white paper
As a budgeting method, which approach is simple and fiscally conservative but offers no other benefits for the organization? A. affordable method B. percentage-of-sales method C. objective-and-task method D. principal accounting method E. cost-per-media method
affordable method
While on vacation in Europe, Maria purchased an antique porcelain vase valued at $25,000. She needs to have it delivered to her home in Kentucky. What would be the best mode of transportation for this item?
air transportation
Compare the following forms of advertising to determine which one is an example of narrowcasting.
an advertisement for Scotts fertilizer shown on the Home and Garden Television network
a collection of coordinated advertisements that share a single theme is called
an advertising campaign
According to your text, all of the following are factors that companies must consider in choosing a transportation mode except a. overall cost b. ability to store the product until shipment c. transit times d. mode accessibility e. ability to meet lead time requirements
b. ability to store the product until shipment
In today's era of media noise, how can marketers break through the clutter to reach their audience?
by producing messages that are relevant to each individual consumer
Nonpersonal promotional communication about goods, services, or ideas that is paid for by the firm identified in the communication is referred to as a. publicity b. direct marketing c. advertising d. sales promotion e. personal selling
c. advertising
High cost is the biggest disadvantage to which form of advertising? a. internet b. billboard c. television d. magazine e. radio
c. television
A company that outsources some or all of its logistics activities to other companies is engaged in a. intermodal transportation b. enterprise resource planning c. third-party logistics d. just-in-time inventory management e. materials management
c. third-party logistics
Compare the following forms of advertising and select the medium that is generally the cheapest form. a.radio advertising b.television advertising c.outdoor advertising d.magazine advertising e.newspaper advertising
c.outdoor advertising
According to your text, one of the most common mistakes in modern pricing is
charging someone less than they are willing to pay
One of the most commonly used pricing tactics, markup pricing, is also referred to as
cost-plus pricing
what is the most common type of sales promotion?
coupons
In the early 2000s, the Mattel Company was faced with a major problem with some of its toys due to faulty magnets and high levels of lead-based paint. When the company realized it was facing a serious problem, it immediately involved federal agencies on product safety, recalled millions of toys from the shelves, and launched a massive campaign to inform consumers about the recall. In addition, the company set up a crisis link on its webpage and posted updates regularly. Mattel's actions can be classified as
crisis management
Disseminating unpaid news items through some form of media to gain attention or support is referred to as a. sales promotion b. media-controlled content c. free advertising d. publicity e. public relations
d. publicity
A retailer inflated the price of its leather jackets so that when it put the jackets on sale, it appeared to customers that they were getting a better deal than they really were. This is an example of what pricing strategy?
deceptive pricing
The first step in the price-setting process is to
define the pricing objectives
in the price-setting process, the next step after demand has been evaluated is to
determine the costs
You placed an order online at Staples.com for a printer and ink cartridges. As part of the checkout process, you were asked to provide your e-mail address. Now you receive e-mails from Staples.com regarding products you might like. This is an example of
direct marketing
intermediaries through which the flow of products travels are called
distribution channels
A 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 is referred to as: a. distribution management b. a value chain c. logistics d. a supply chain e. a distribution center
e. a distribution center
A supply chain strategy in which a company builds goods based on a sales forecast, puts those goods into storage, and waits for a customer to order the product is called a a. demand strategy b. supply strategy c. push-pull strategy d. pull strategy e. push strategy
e. push strategy
publicity gained through editorial influence or by grassroots actions, such a product reviews, online reviews, unsolicited brand conversations, or viral video featuring a company's product or service
earned media
Which website usability attribute addresses how quickly users can perform tasks once they have learned the design?
efficiency
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 ($96.75 million) at this price. For the second quarter, the company decided to reduce the price of the e-reader to $109.00. At this price point, the company sold 1.5 million units ($163.5 million) indicating that demand for the product is.
elastic
A section in a contract that providers of goods and services do not encounter unreasonable financial hardship as a result of uncontrollable increases in the costs of or decreases in the availability of something required to deliver products to customers is referred to as an
escalator clause
Engagement measures all of the following except
how many times people purchase from the brand.
Mars, Inc., makers of Snickers candy bars launched its You're 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, print ads were released featuring inversion illusions commercials, 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 a Snickers candy bar. This type of promotional strategy is referred to as
integrated marketing communication
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 are shipped via ocean liner to a 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
Brenda and Tim went to Carl's Custom Dining to buy a new dining room set. At the store they configured the set to their specifications in terms of size, finish and style. The store sent the order out via the Internet to the manufacturer. The manufacturer, in turn, secured the correct type of wood from its supplier to complete the dining room set. When finished, the manufacturer shipped the product to its local warehouse where Carl's Custom Dining arranged for delivery to its store by a local trucking company. For Carl's Custom Dining, this is an example of
its supply chain
The part of supply chain management that plans, implements, and controls the flow of goods, services, and information between the point of origin and the final customer is called
logistics
The dissemination of information to a fairly small, select audience that is defined by its shared values, preferences, or demographic attributes is referred to as
narrowcasting
Which budgeting method takes a bottom-up approach by defining specific objectives, determining the tasks needed to achieve these objectives and then estimating how much each task will cost? A. affordable method B. percentage-of-sales method C. objective-and-task method D. principal accounting method E. cost-per-media method
objective-and-task method
Bowman's shoe store just received a shipment of dress boots. The manufacturer's suggested retail price for the boots is $150.00, but Bowman's decides to price the boots at $149.95. What pricing tactic is Bowman's most likely using?
odd pricing
The process of getting more traffic based on higher ranking of free or "organic" search results on search engines in referred to as search engine
optimization
What type of media comes from publicity gained via a brand-controlled source such as a website, blog, or Facebook page?
owned media
purchased links that typically appear either at the very top or upper right of a search-result page
paid listings
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 sellign
What type of advertising attempts to increase demand for an existing product?
persuassive
A new Home Depot opened up down the street from Hank's Hardware and has drastically reduced prices on many of the same products that Hank sells, forcing him to go out of business. After Hank closed his store, he noticed that Home Depot began raising its prices to more normal levels. This is an example of
predatory pricing
If luxury brands such as Versace clothing, Lexus automobiles, and Dom Perignon champagne wanted to promote an image of superior quality and exclusivity to customers, they would most likely use which pricing tactic?
prestige pricing
The amount of something(money, time, or effort) 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 system, the product was sold as a package that included the game console, game controllers, included the game console, game controllers, wireless headset, and one video game. This is 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 practice of charging different customers different prices for the same product is called
price discrimination
a measure of price sensitivity that gives the percentage change in quantity demanded in response to a percent change in price is known as
price elasticity of demand
The three largest manufacturers of 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
prestige pricing involves
pricing a product higher than competitors to signal that it is of higher quality
In the Twilight series movies, main character Edward Cullen can be seen driving a Volvo car. This is an example of
product placement
the advertising technique in which a company promotes its products through appearances on tv shows, movies, or other media is called
product placement
When Apple released its first iPhone in 2007, 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 and then decrease the price to a level that would be more sustainable over time reflects which pricing strategy?
profit maximization
All the activities that communicate the value of a product and persuade customers to buy it is referred to as
promotion
Bob's Custom Millwork is a business that provides custom cabinetry and furniture for both businesses and individual consumers. Bob does not make any products until he receives an order from the customer. What type of marketing strategy does this represent?
pull strategy
After the economic recession, the boating industry suffered from a decline in sales. However, recent sales forecasts from a decline in sales. However, recent sales forecasts indicate that the upcoming season will produce a strong indicate that the upcoming season will produce a strong demand for boats and boating equipment. Based on this, Les demand for boats and boating equipment. Based on this, Les has decided to ramp up production this winter of both his bass has decided to ramp up production this winter of both his bass fishing boats and speed boats, keep them in storage until the fishing boats and speed boats, keep them in storage until the boating sales season officially resumes, and hope that boating sales season officially resumes, and hope that customers will buy them. This is an example of a customers will buy them. This is an example of a
push strategy
The measure of the total audience size for a given platform is determined by which metric?
reach
Justine went to the specialty grocery store by her office after work. When looking at the offerings at the meat counter, she was surprised to see ground beef selling for $4.49/lb. At her normal grocery store, she can get the same quality beef for $3.29/lb., a price Justine feels is reasonable. $3.29/lb. for ground beef is Justine's
reference price
Since consumers have the tendency to compare prices on almost everything they buy, marketers should attempt to capitalize on this tendency when setting prices by determining the price consumers will consider fair and reasonable for a product. This is known as the A. benchmark price. B. break-even point. C. dynamic price. D. reasonable price. E. reference price.
reference price
Tristan has been calling on the same customer for years. He handles all of the company's orders and quickly resolves any issues that may come up. On occasion, Tristan takes some of the company employees out to dinner and has even given them tickets to local sporting events. Tristan is involved in
relationship selling
The Robinson-Patman Act was passed in 1936 and
requires sellers to charge everyone the same price for a product
which of the following is not a tool for public relations? a. speeches b. annual reports c. brochures d. sales presentations e. blogs
sales presentations
Google, Bing, and Yahoo all help users search for information on the World Wide Web. As such, they are considered to be
search engines
A marketing practice whose goal is to generate traffic from search engines through both paid and unpaid efforts is called
search marketing
A marketing practice whose goals is to generate traffic from search engines through both paid and unpaid efforts
search marketing
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
a management philosophy that guides the actions of company members toward the goal of actively managing the upstream and downstream flows of goods, services, finances, and information across the supply chain is referred to as a
supply chain orientation
The process of purchasing goods and services that takes into account the long-term impact on people, profits, and planet is called a. green purchasing b. sustainable procurement c. environmental consumption d. green acquisition e. sustainable sourcing
sustainable sourcing
What innovation in the early 20th century started a new age of communication?
the introduction of broadcast radio and TV
which of the following accurately describes break-even analysis?
the process of calculating the sales volume needed to achieve a profit of zero
The three primary objectives of an advertising campaign are:
to inform, to persuade, and to remind
Kelsey liked her new smart television so much, she went online to the company's website to post a a positive review of it. What type of content is Kelsey's product review?
user-generated content
What is intermodal transportation?
using several types of transportation for the same shipment
variable costs are defined as costs that
vary depending on the number of units produced or sold
Search engines create an index of all web content by using automated software programs called
web crawlers
