Principles of Marketing Unit 3
A set of 3 or more companies directly linked by one or more of the upstream and downstream flow of product, services, finances, and information form a sources to a customer is referred to as
a supply chain
Non personal promotional communication about goods, service or ideas that is paid for by the firm identified in the communication is referred to as
advertising
While on vacation in Europe, Maria purchased an antique porcelain vase values at $25,00. She needs to have it delivered to her home in Kentucky. What would be the best mode of transportation for this item?
air transportation
The almost instantaneous transfer of information from one company's computer to another that allows ERP systems to communicate with the information technology systems of other companies is done through
an electronic data interchange
When it comes to the use of color in website design, which of the following colors represents a sense of trustworthiness and openness?
blue
A strategy in which 2 or more products are packaged together and sold at a single price
bundling
What is the most common type of sales promotion?
coupons
According to social media and customer service expert Jay Baer, what is the new marketing?
customer service
Which of the following is a variable cost?
delivery cost
Intermediaries through which the flow of products travels are called
distribution channels
Which of the following statements regarding supply chain management is not true?
each channel with a supply chain acts independently of the other channels
Which website usability attribute addresses how quickly users can perform tasks once they have learned the design?
efficiency
What is the name of the promotional strategy that involves coordination the various promotion mix elements to provide consumers with a cleat and consistent message about the firm's products?
integrated marketing communications
Many location based marketing campaigns incorporate the use of
location based
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
Reminder advertising is most common during which stage of the product life cycle?
maturity
The transmission of data, voice, and video via any wireless enabled computing device, without a fixed physical connection, is a technology known as
mobile computing
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
A pricing tactic in which a firm prices product a few cents below the next dollar amount is called
odd pricing
Compare the following forms of advertising and select the medium that is generally the cheapest form.
outdoor advertising
Volume maximization is also referred to as
penetration pricin
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 priceing
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 princing
The practice of charging different customers different prices for the same product is called
price discrimination
The degree to which the price of a product affects consumers' purchasing behavior is referred to as
price sensitivity
One of the most important strategic decisions a firm faces is _________ because it reflects the value the product delivers to consumers as well as the value it captures for the firm
pricing
The advertisement technique in which a company promotes its products through appearances on television shows, movies, or other media is called
product placemtn
All the activities that communicate the value of a product and persuade customers to buy it is referred to as
promotion
Dissemination unpaid news items through some form of media to gain attention or support is referred to as
publicity
Bob's Custom Millwork is a business that provide custom cabinetry and furniture for both businesses and individual consumers Bob does not make any products until he receives and order from the customer. What type of marketing strategy does this represent?
pull strategy
In order to provide consistently relevant marketing content, marketers must provide consumers with content that is all of the following except
repetitive
Which element of the promotion mix refers to the set of non personal communication tools designed to stimulate quicker and more frequent purchases of a product?
sales promotion
A marketing practice whose goal is to generate traffic from search engines through both paid and unpaid efforts is called
search markeriting
The price strategy of un-bundling involved
separating out the individual goods that make up a product and pricing each one individually
What type of marketing uses combinations of digital tools such as websites, online videos, email blogs, social media, mobile ads, mobile , apps, and other digital platforms?
social media marketing
The process of identifying and assessing what is being said about a company, individual, product or brand on the Internet is referred to as
social media monitoring
A commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own nee is referred to as
sustainability
Supply chain management refers to
the actions a firm takes to coordinate the various flows within a supply chain
A company that outsources some of all of its logistics actives to other companies is engaged in
third-party logistics
Which of the following is not a purpose of social media marketing listed in our text?
to gain competitive advatage
The 3 primary objectives of an advertising campaign are
to inform, persuade, and remind
As noted in tour text, managing _________ is one of the most important logistics functions because it creates place and time utilities that are essential to keeping customers satisfied.
transportation
Charging someone less than they are willing to pay is a practice referred to as
underprincing
What is inter modal transportation?
using several types of transportation for the same shipment
Which of the following social media metrics is the most common and easiest to measure?
volume of mentions
In November, the appliance store priced its front loading washing machine at $899.00 and sold 50 units. In December they reduced the price to $799.00 and sold 53 units. Which of the following statements is accurate regarding this situation?
Demand is inelastic and total revenue fell from November to December
Which of the following is not an element of promotion mix?
Internet ordering
Compare the following statements and select the one that is accurate regarding a profit maximization strategy.
Profit maximization should not be used as a permanent pricing objective, but is effective in allowing a firm to endure a difficult time.
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
You placed and order online at Staples.com for a printer and ink cartridges As part of the checkout process, you were asked to provide you email address. Now you receive emails from Staples.com regarding product you might like. this is an example of
a paid display as