Test 3 marketing

____________ is a short-term incentive to encourage the purchase or sale of a product or service. A. Sales promotion B. Advertising C. Personal selling D. Public relations

A. Sales promotion

In which of the following does the customer share real-time data on sales and current inventory levels with a supplier? A. VMI B. 3PL C. EDI D. VMS

A. VMI

Personal selling can be very effective in complex selling situations because it involves ________________ interactions and engagement between salespeople and individual customers. A. interpersonal B. nonpersonal C. competitive D. profitable E. informal

A. interpersonal

When teams acknowledge that a single salesperson can't handle all of a large customer's needs, they use ___________ selling to service large, complex accounts. A. team B. outside C. product D. inside E. social

A. team

During the approach step, ___________ A. the salesperson should know how to meet and greet the buyer and get the relationship off to a good start B. the salesperson tries to close the sale C. the salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems D. the salesperson identifies qualified prospective customers

A. the salesperson should know how to meet and greet the buyer and get the relationship off to a good start

___________ is a sales promotion tool used to generate business leads, stimulate purchases, reward customers, and motivate salespeople. A. A trade promotion B. A business promotion C. A consumer promotion D. Event marketing

B. A business promotion

_____________ is a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product. A. A push strategy B. A pull strategy C. Content management D. An advertising strategy

B. A pull strategy

______________ is a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product. A. Content management B. A pull strategy C. A push strategy D. Am advertising strategy

B. A pull strategy

The four major functions of marketing logistics are _____________. A. warehousing, inventory management, shipping, and receiving B. forecasting, order processing, transportation, and inventory management C. warehousing, inventory management, transportation, and logistics information management D. warehousing, inventory management, transportation, and retailing E. warehousing, transportation, wholesaling, and retail

C. warehousing, inventory management, transportation, and logistics information management

________________ performs any or all of the functions required to get a client's product to market. A. Marketing logistics B. Integrated logistics management C. Supply chain management D. A third-party logistics provider

D. A third-party logistics provider

A salesperson standing behind the counter at a department store is fulfilling which selling function? A. Social seller B. Order getter C. Creative seller D. Order taker E. Relationship builder

D. Order taker

_______________ advertising is used when a company is attempting to build brand preference and prompt customers to purchase now. A. Attack B. Reminder C. Comparative D. Persuasive E. Informative

D. Persuasive

A mega-retailer opens a store in a new area. They charge prices that are below cost to drive local stores out of business. This retailer has engaged in which of the following? A. Price discrimination B. Price gouging C. Price-fixing D. Price maintenance E. Predatory pricing

E. Predatory pricing

Which is an external factor affecting pricing? A. The company's marketing mix B. Organizational considerations C. The company's obiectives D. The company's overall marketing strategy E. The nature of the market

E. The nature of the market

One consumer promotion tool is ___________, which are goods offered either free or at low cost as an incentive to buy a product. A. premiums B. rebates c. point-of-purchase promotions D. advertising specialties E. coupons

A. premiums

The ___________ step is when a salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems. A. presentation B. handling objections C. approach D. preapproach

A. presentation

_______________ represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building. A, Sales force management B. A salesperson C. Personal selling D. Team selling

B. A salesperson

____________ is when a company directly or indirectly compares its brand with one or more other brands. A. Advertising B. Comparative advertising C. Sales promotion D. Personal selling

B. Comparative advertising

Working with donors or members of nonprofit organizations to gain financial or volunteer support represents which public relations function? A. Investor relations B. Development C. Public affairs D. Press relations E. Lobbying

B. Development

Sadie's Restaurant has listened to its customers over the years and is now able to offer the right combination of quality and good service at a fair price. Which pricing strategy is Sadie's using? A. Cost-based pricing B. Good-value pricing C. Break-even pricing D. Value-added pricing E. High-low pricing

B. Good-value pricing

________________ is planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customers' requirements at a profit. A. Integrated logistics management B. Marketing Logistics C. supply chain management D. Third-party logistics

B. Marketing Logistics

What are the two major elements of advertising strategy? A. Comparative advertising decisions and message decisions B. Message decisions and media decisions C. Push-versus-pull decisions and media decisions D. Budget decisions and media decisions E. Budget decisions and message decisions

B. Message decisions and media decisions

What is the goal of advertising? A. To create consumer communities B. To help move consumers through the buying process C. To provide feedback on products and services D. To create interest and consumer hype E. To define a product's value

B. To help move consumers through the buying process

A vertical marketing system is ________________. A. a system in which independent firms at different levels of production and distribution join together through contracts B. a channel structure in which producers, wholesalers, and retailers act as a unified system C. achanne arrangement in vehich two or more companies at one level join together to follow a new marketing opportunity D. a system that coordinates successive stages of production and distribution through the size and power of one of the parties

B. a channel structure in which producers, wholesalers, and retailers act as a unified system

One of the primary advantages of marketing logistics is ___________ A. maximizing inbound, outbound, and reverse logistics B. potentially high cost savings and improved customer satisfaction C. being the solution for maximizing costs and customer satisfaction D. cost savings in inventory management E. improved customer satisfaction and faster time to market

B. potentially high cost savings and improved customer satisfaction

Cost-based pricing is ____________ A. the amount of money charged for a product or service. or the sum of the values that customers exchange for the benefits of having or using the product or service B. setting prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk C. attaching value-added features and services to differentiate a company's offers and charging higher prices D. setting a price based on a buyer's perceptions of value rather than on the seller's cost

B. setting prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk

With _______________, the price is used to say something about the product. A. Segmented pricing B. Promotional pricing C. Dynamic pricing D. Psychological pricing

C. Dynamic pricing

________________ is attaching features and services to differentiate a company's offers a charging higher prices. A. Cost-based pricing B. Predatory pricing C. Value-added pricing D. Customer value-based pricing

C. Value-added pricing

_________________ is the amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service. A. Customer value-based pricing B. Good-value pricing C. Value-added pricing D. Price

C. Value-added pricing

A(n) ________ is a sales force organization in which salespeople specialize in selling only to certain customers or industries. A. territorial sales force structure B. inside sales force C. customer sales force structure D. product sales force structure

C. customer sales force structure

A company's pricing strategy is affected by internal factors such as A. overall marketing strategy, marketing mix, elasticity, and demand B. overall marketing strategy, objectives, demand, and international considerations C. overall marketing strategy, objectives, marketing mix, and organizational considerations D. the nature of the market, demand, objectives, and the economy E. overall marketing strategy, objectives, marketing mix, and market type

C. overall marketing strategy, objectives, marketing mix, and organizational considerations

Justin, Inc., a U.S.-based watch manufacturer, sells its products in China, Russia, France, and India. To manage sales, Justin appoints a number of sales representatives to each location. Justin has adopted a _______________ sales force structure. A. market B. customer C. territorial D. complex E. product

C. territorial

________________ is building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events. A. Sales promotion B. Advertising C. Personal selling D. Public relations

D. Public relations

Setting a target price to match the customer's perceived value is the _____________ step in value-based pricing. A. Third B. First C. Fourth D. Second

D. Second

Market-penetration pricing is setting ____________ A. the price steps between various products in a product line B. a price for products that must be used along with a main C. a high price for a new product to skim maximum revenues D. a low price for a new product in order to attract a large number of buyers and a large market share

D. a low price for a new product in order to attract a large number of buyers and a large market share

Sherwin-Williams sells its paint and other branded products exclusively through company-owned retail stores. Sherwin-Williams has established a(n) _______________ A. conventional distribution channel B. contractual VMS C. administered VMS D. corporate VMS E. vertical marketing system

D. corporate VMS

___________________ is a measure of the sensitivity of demand to changes in price. A. Target costing B. Total cost C. Demand curve D. price elasticity

D. price elasticity

A pull strategy is a ________________ A. strategy to create inspire, and share brand messages and conversations with and among consumers B. promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to channel members, which in turn promote it to final consumers C. strategy by which the company accomplishes its advertising objectives D. promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product

D. promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product

The competitive-parity method is ______________ A. setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price b. developing the promotion budget C. setting the promotion budget at the level management thinks the company can afford D. setting the promotion budget to match competitors' outlays

D. setting the promotion budget to match competitors' outlays

Which of the following statements is true regarding channel organization? A. In a well-organized channel, conflicts rarely occur. B. Channel members should act alone in their own short-run best interests before considering the interests of other channel members. C. Once a channel is organized and set, it rarely changes. D. Channel organization is always based on formal interactions guided by strong organizational structures. E. Channel members are dependent on each other for the overall success of the channel.

E. Channel members are dependent on each other for the overall success of the channel.

A variation of break-even pricing is ________, which uses the concept of a break-even chart that shows the total cost and total revenue expected at different sales volume levels. A. high-low pricing B. competition-based pricing C. everyday low pricing (EDLP) D. value-added pricing E. target return pricing

E. target return pricing

Of the following, which is NOT one of the product-mix pricing situations? A. Optional-product pricing B. Captive-product pricing c. Penetration pricing D. Product bundle pricing E. Product line pricing

c. Penetration pricing

__________ is a measure of the sensitivity of demand to changes in price. A. Price elasticity B. Demand curve C discount D price In elasticity E variable cost

A. Price elasticity

____________ is the use of more than one but fewer than all of the intermediaries who are willing carry the company's products. A. Selective distribution B. Exclusive distribution C. intensive distribution D. A mulichannel distribution system

A. Selective distribution

A(n) ____________ conducts business from their offices via phone, online and social media interactions, or visits from buyers. A. outside sales force B. inside sales force C. customer sales force structure D. product sales force structure

B. inside sales force

___________ is/are costs that vary directly with the level of production A. Total costs B. Target costing C. Variable costs D. Fixed costs

C. Variable costs

It's time for the Super Bowl, and the end-of-the-aisle displays at the supermarket feature chips, dips, and soft drinks. What type of sales promotion tool is this? A. Premium B. Sample C. Sponsorship D. Point-of-purchase E. Allowance

D. Point-of-purchase

The purpose of _______________ is to build selective demand. A. persuasive advertising B. informative advertising C. advertainment D. reminder advertising

A. persuasive advertising

Marketers now have access to fragmented media and promotion mixes to reach diverse audiences. To ensure these are coordinated and organized, what must marketers do? A. Deploy tools to facilitate customer relationship management B. Adopt the concept of integrated marketing communications C. Create informative, persuasive, and distinct messaging content D. Develop targeted social media and digital advertising E. Use marketing management software

B. Adopt the concept of integrated marketing communications

A skimming pricing strategy is most likely to succeed for which of the ollowing conditions? A. Buyers are not willing to pay the higher price. B. Competitors should not be able to enter the market quickly. C. The product image does not support the higher price. D. Competitors will undercut the price. E. The product quality does not support the higher price.

B. Competitors should not be able to enter the market quickly.

Marketers adjust prices based on pricing, whereby different customers pay different prices for the same product or service. A. location-based B. customer-segment C. seasonal-based D. product form E. time-based

B. customer-segment

An indirect marketing channel is _________________ A. A marketing channel that has no intermediary levels B. a set of interdependent organizations that help make a product or service available for use C. one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole D. a marketing channel containing one or more intermediary levels

D. a marketing channel containing one or more intermediary levels

Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this represent? A. Administered VMS B. Corporate VMS C. Conventional distribution channel D. Manufacturer-sponsored retailer franchise system E. Contractual VMS

A. Administered VMS

__________________ is a layer of intermediaries that performs some of the work in bringing the product and its ownership closer to the final buyer. A. Channel level B. Amultichannel distribution system C. Multichannel marketing D. Disintermediation

A. Channel level

The slice of life style _______________ A. shows one or more "typical" people using the product in a normal setting B. builds a mood or image around the productor service, such as beauty, love, intrigue, or serenity C. creates a fantasy around the product or its use D.shows how a product fits in with a particular lifestyle

A. shows one or more "typical" people using the product in a normal setting

______________ is building and maintaining relationships with legislators and government officials to influence legislation and regulation. A. Product publicity B. Lobbying C. Press relations D. Public affairs

B. Lobbying

The goal of logistics is to provide a targeted level of service at the least or lowest possible cost. To achieve this goal, which of the following are logistical functional areas? A. Inventory management, transportation, shipping, and warehousing B. Warehousing, inventory management, transportation, and logistics information management C. Warehousing, inventory management, retailing, and logistics information management D. Warehousing, inventory management, transportation, and retailing E. Retailing, inventory management, transportation, and logistics information management

B. Warehousing, inventory management, transportation, and logistics information management

A push strategy is _____________ A. a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that "pulls" the product through the channel B. a promotion strategy that calls for using the sales force and trade promotion to move the product through channels C. the strategy by which the company accomplishes its advertising objectives C. creating, inspiring, and sharing brand messages and conversations with and among consumers across a

B. a promotion strategy that calls for using the sales force and trade promotion to move the product through channels

A(n) _________ is a marketing channel that has no intermediary levels. A. conventional distribution channel B. direct marketing channel C. indirect marketing channel D. marketing channel

B. direct marketing channel

The selling process _______________ A. is the sales step in which a salesperson identifies qualified potential customers B. focuses on the goal of getting new customers, obtaining orders from them, and spending time maintaining existing accounts and building long-term customer relationships C. is the short-term incentives used to encourage the purchase or sales of a product or a service D. is a sales promotion tool used to persuade resellers to carry a brand

B. focuses on the goal of getting new customers, obtaining orders from them, and spending time maintaining existing accounts and building long-term customer relationships

Team selling is ____________ A. analyzing. planning, implementing and controlling sales force activities B. using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts C. the firm's sales force for the purpose of making sales and building customer relationships D. the sales step in which a salesperson or company identifies qualified potential customers

B. using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts

A multichannel distribution system _______________ A. is giving a limited number of dealers the exclusive right to distribute the company's products in their territories B. is stocking the product in as many outlets as possible C. uses a single firm to set up two or more marketing channels to reach one or more customer segments D. is the use of more than one but fewer than allor the intermediaries who are willing carry the company's products

C. uses a single firm to set up two or more marketing channels to reach one or more customer segments

___________ is/are costs that do not vary with production or sale level A. Total costs B. Variable costs C. Target costing D. Fixed cost

D. Fixed cost

___________ software systems enable companies to coordinate their whole-channel marketing efforts. A. Channel management B. Distribution C. Logistics D. Partner relationship management E. Customer relationship management

D. Partner relationship management

Which of the following uses promotional tools such as presentations, trade shows, and incentive programs to engage customers, make sales, and build customer relationships? A. Direct selling B. Advertising C. Public relations D. Personal selling E. Sales promotion

D. Personal selling

Before meeting and greeting a buyer, a salesperson should __________ A. show how the company's offer solves the customer's problems B. tell the "value story" to the buyer C. ask the buyers for an order D. handle the buyer's objections E. research the buyer to prepare for the meeting

E. research the buyer to prepare for the meeting

_____________ is used to build and maintain national or local community relationships and is one of the functions of public relations. A. Development B. Lobbying c. Public affairs D. Investor relations E. Press relations

c. Public affairs

The ______________ is setting the promotion budget at the level management thinks the company can afford. A. affordable method B. percentage-of-sales method C. obiective-and-task method D. competitive-parity method

A. affordable method

______________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. A. Sales promotion B. Advertising C. Personal selling D. Public relations

B. Advertising

The Ford Mustang is offered in several different models. Ford uses _____________ pricing to determine the price steps between the different models. A. optional-product B. product line c. two-part D. product bundle E. captive-product

B. product line

The first step in the selling process is __________ A. follow-up B. prospecting C. qualifying D. closing E. presentation

B. prospecting

Determining costs that can be incurred is the ________________ step in value-based pricing A. First B. Fourth C. Third D. Second

C. Third

Marketing channels perform many key functions. Which of the following is NOT one of those key functions? A. Assuming risks of carrying out channel work B. Contacting and engaging buyers C. Shaping offers to meet the buyers needs D. Manufacturing E. Transporting goods

D. Manufacturing

Adjusting prices in real time to fit individual customer situations, locations, and buying behaviors is known as ________ pricing. A. psychological B. promotional C. segmented D. personalized E. cash rebate

D. personalized

Which of the following statements is correct regarding supply chains and the value delivery network? A. Channel decisions usually involve short-term commitments to the channel members. B. If companies take on the functions of channel members, their costs go down. C. Marketing channel members have no role in matching supply and demand. D. Marketers must ensure they deliver good value in the product as channel members cannot add value. E. A company's channel decisions directly impact all other marketing decisions.

E. A company's channel decisions directly impact all other marketing decisions.

__________ is the sales step in which a salesperson follows up after the sale to ensure customer satisfaction and repeat business. A. Follow-up B. Closing C. Sales promotion D. Prospecting

A. Follow-up

A marketing channel is ______________ A. a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user B. a channel that has no intermediary level C. a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole D. A channel comammg one or moreintermediary loveck.

A. a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user

A(n) __________ is a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole. A. marketing channel B. conventional distribution channel C. direct marketing channel D. indirect marketing channel

B. conventional distribution channel

Press relations is a function in which companies ________________ A. build and maintain relationships with legislators and government officials to influence legislation and regulation B. create and place newsworthy information in the news media to attract attention to a person, product, or service C. publicize specific products D. build and maintain national or local community relationships

B. create and place newsworthy information in the news media to attract attention to a person, product, or service

A demand curve __________ A. Measures sensitivity of demand to changes in price B. Starts with an ideal selling price, then targeting costs that will ensure that the price is met C. Shows the number of units the market will buy in a given time period, at different prices that might be charged D. Is the sum of the fixed and variable costs for any given level of production

C. Shows the number of units the market will buy in a given time period, at different prices that might be charged

_____________ is managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers. A. Third-party logistics B. integrated logistics management C. Marketing logistics D. Supply chain management

D. Supply chain management

After recruiting and selecting salespeople, what is the next major step in sales force management? A. Designing sales force strategy and structure B. Evaluating salespeople C. Supervising salespeople D. Training salespeople E. Compensating salespeople

D. Training salespeople

Bath and Body Works uses _________ pricing when company offers "three-fer" deals on its products (such as soap, lotion, and moisturizer) A two-part B product line C by-product D captive-product E product bundle

E product bundle

Which type of distribution strategy involves stocking the product in as many outlets as possible? A. Exclusive B. Franchise C. Direct D. Selective E. Intensive

E. Intensive

Which of the following statements regarding marketing logistics is true? A. Logistics involves only a small part of the entire supply chain. B. Logistics involves inbound logistics, outbound logistics, and parallel logistics. C. Logistics deals with the downstream flow of materials, but not the upstream flow. D. Logistics is unrelated to physical distribution. E. Logistics should provide a targeted level of customer service at the least cost.

E. Logistics should provide a targeted level of customer service at the least cost.

_________ is the use of online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance. A. Sales promotion B. Digital selling C. Technology selling D. New-age selling E. Social selling

E. Social selling

_______________ direct(s) its marketing activities (primarily advertising, consumer promotion, and direct and digital media) toward final consumers to induce them to buy the product. A. A push strategy B. Personal selling c. A pull strategy D. Integrated communications E. Product communications

c. A pull strategy

Sale days, early-bird savings, and bonus earnings for store credit-card holders are promotions employed in which type of pricing strategy? A. Everyday low pricing B. Cost-based pricing c. High-low pricing D. Good-value pricing E. Value-added pricing

c. High-low pricing

_______________performs any or all of the functions required to get a client's product to market. A. A third-party logistics provider B. Marketing logistics C. Supply chain management D. Integrated logistics management

A. A third-party logistics provider

The ________________ is setting the promotion budget to match competitors' outlays. A. competitive-parity method B. affordable method C. objective-and-task method D. percentage-of-sales method

A. competitive-parity method

Apple frequently uses _________ pricing. A. market-skimming B. captive-product C. market-penetration D. product line

A. market-skimming

Stories, sponsorships, events, and webpages are promotional tools used in _________ A. public relations B. advertising C. personal selling D. direct selling E. sales promotion

A. public relations

Stories, sponsorships, events, and webpages are a part of which type of promotional tool? A. Sales promotion B. Public relations C. Integrated marketing communications D. Advertising E. Personal selling

B. Public relations

__________________ are short-term incentives to encourage the purchase or sale of a product or service. A. Public relations B. Sales promotions C. Sales presentations D. Personal selling E. Advertisements

B. Sales promotions

Correcting false impressions and suggesting new uses for a product are objectives associated with ____________ advertising. A. persuasive B. informative C. attack D. comparative E. reminder

B. informative

_________ is selling below cost with the intention of punishing a competitor or gaining higher long-run profits by putting competitor out of business. A. Customer value-based pricing B. Price C. Value-added pricing D. Predatory pricing

D. Predatory pricing

The __________ shows people or cartoon characters singing about the product. A. Lifestyle style B. mood or image style C. fantasy style D. musical style

D. musical style

Laws prohibit ____________ meaning a manufacturer cannot require dealers to charge a specified retail price for its products. A. price-fixing B. price discrimination C. deceptive pricing D. resale price maintenance E. predatory pricing

D. resale price maintenance

The seven-step selling process takes a ___________ approach to selling. In other words, its aim is to help salespeople close a specific sale with a customer. A. value-oriented B. customer-oriented C. profit-oriented D. transaction-oriented E. relationship-oriented

D. transaction-oriented

A(n) ___________________ is a channel structure in which producers, wholesalers, and retailers act as a unified system. A. contractual vertical marketing system B. administered vertical marketing system C. horizontal marketing system D. vertical marketing system

D. vertical marketing system

Which of the following pricing strategies would a company use to attract a large number of buyers quickly and win a large market share? A. Captive-product pricing B. By-product pricing C. Market-skimming pricing D. Optional-product pricing E. Market-penetration pricing

E. Market-penetration pricing

When a company uses more than one but fewer than all of the intermediaries who are willing to carry a company's products it is engaging in distribution. A. exclusive B. intensive c. direct D. franchise E. selective

E. selective

A direct marketing channel _____________ A. has at least 1 intermediary level B. has a maximum of 5 intermediary levels C. does not sell via the internet D. has the greatest channel length E. sells directly to the consumer

E. sells directly to the consumer

Marketers must consider external considerations in establishing pricing. Which of the following represents those external considerations? a. The nature of the market, demand, and environmental factors b. Demand, revenue objectives, and stakeholder requirements C. Demand, marketing strategy, and the reaction of competitors D. Marketing strategy, environmental factors, and distribution channels E. The nature of the market, globalization, and environmental factors

a. The nature of the market, demand, and environmental factors

What potential risk do marketers incur by using richer but more fragmented media and promotional mixes? A. Greater efficiency but less control over marketing messaging B. Better targeting but at a higher cost per consumer c. A communications hodgepodge for consumers D. Mixed communications messaging and higher costs E. The inability to use mass and traditional media

c. A communications hodgepodge for consumers

The goal of integrated marketing communications is to _______________ A. maximize return on investment with increased revenue across all brands B. integrate communications via online and mobile technologies at a lower cost per impression c. deliver clear, consistent, and compelling messages about the organization and its brands D. lower overall marketing expenditures while delivering increased results E. have different media carry different messages about a brand in an integrated way

c. deliver clear, consistent, and compelling messages about the organization and its brands

Product publicity is a(n) _________________ A. activity of public relations that involves the publicizing of specific products B. building and maintaining relationships with legislators and government officials to influence legislation and regulation C. building and maintaining national or local community relationships D. function in which companies create and place newsworthy information in the new media to attract attention to a person, product, or service

A. activity of public relations that involves the publicizing of specific products

The ______________ creates an imaginary situation around the product or its use. A. fantasy style B. mood or image style C. slice of life style D. lifestyle style

A. fantasy style

Closing a sale with a particular customer is a short-term ____________ orientation, but the selling process must also take a __________ orientation and look at the long term. A. transactional; relationship B. transactional; profit C. relationship; transactional D. profit; relationship E. company; relationship

A. transactional; relationship

Firms spend ___________ on personal selling as they do on advertising. A. up to three times as much B. the same amount c. far less D. half as much E. up to 10 times as much

A. up to three times as much

____________ is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. A. Personal selling B. Advertising C. Sales promotion D. Social media E. Public relations

B. Advertising

Which of the following is NOT a common trade promotion tool? A. Discounts B. Price packs C. Push money D. Allowances E. Free goods

B. Price packs

Roshika has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as a(n) ____ A. type of segmented pricing B. indicator of quality C. indicator of the cost of production D. limited-time offer E. indicator of geographic pricing

B. indicator of quality

_____________ is the sales step in which a salesperson asks the customer for an order. A. Prospecting B. Follow-up C. Closing D. Sales promotion

C. Closing

__________________ is based on a buyer's perceptions of value rather than on the seller's cost. A. Price B. Good-value pricing C. Customer value-based pricing D. Value-added pricing

C. Customer value-based pricing

__________ is the short-term incentives used to encourage the purchase or sales of a product or a service. A. Prospecting B. Closing C. Sales promotion D. room-up

C. Sales promotion

The purpose of persuasive advertising is to ______________ A. build primary demand B. maintain customer relationships C. build selective demand D. make ads and brand content themselves

C. build selective demand

The musical style shows ____________ A. how a product fits in with a particular lifestyle B. a fantasy around the product or its use C.people or cartoon characters singing about the product D.a mood or image around the product or service, such as beauty, love, intrigue, or serenity

C.people or cartoon characters singing about the product

When Apple introduced its iPhone X, it priced the new product nearly $1,000 dollars considerably higher than competing smart phones. Apple was pursuing a(n) ___________ new product pricing strategy. A captive-product B by-product C optional-product D premium pricing E market-penetration

D premium pricing

New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound, super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing? A. EDLP B. Break-even pricing C. Cost-plus pricing D. High-low pricing E. Value-added pricing

E. Value-added pricing

To set its sales force size, a company can first group accounts into different classes according to size, account status, or other factors related to the amount of effort required to maintain the account. It then determines the number of salespeople needed to call on each class of accounts the desired number of times. This is called the _______________ approach. A. field B. inside c. workforce D. complex E. workload

E. workload

Over the past decade, in one campaign after another, Samsung has run ads smugly depicting iPhone owners as either disappointed in their phones or secretly envious of people using the latest Galaxy model. This is an example of ______________ advertising. A. brand integration B. informative c. comparative D. reminder E. native

c. comparative

A(n) ____________ consists of producers, wholesalers, and retailers acting as a unified system. A. administered vertical marketing system B. conventional distribution channel c. vertical marketing system D. distribution center E. channel level

c. vertical marketing system

Of the following, which most closely describes the method by which companies engage and create benefits for their customers? A. Value delivery network B. Customer relationship management C. Channel level D. Supply chain E. Marketing channel

A. Value delivery network

Disintermediation is ___________________. A. the cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries B. selecting, managing, and motivating individual channel members and evaluating their performance over time C. a layer of intermediaries that performs some of the work in bringing the product and its ownership closer to the final buyer D. a single firm to set up two or more marketing channels to reach one or more customer segments

A. the cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries

__________ occurs when a seller states prices or price savings that mislead consumers or are not actually available to consumers. A. Predatory pricing B. Deceptive pricing C. Price-fixing D. Price maintenance E. Price discrimination

B. Deceptive pricing

______________ refers to creating a brand-marketing event or serving as a sole or participating sponsor of events created by others. a. Consumer promotion B. Event marketing C. Trade promotion D. Business promotion

B. Event marketing

_____________ is giving a limited number of dealers special rights to distribute the company's products in their territories. A. Intensive distribution B. Exclusive distribution C. A multichannel distribution system D. Selective distribution

B. Exclusive distribution

Producers of a strong brand sometimes sell it to dealers only if the dealers will take some or all of the rest of its line. This is known as full-line forcing. Which of the following statements is true regarding full-line forcing? A. It is only legal in New York, California, and Texas B. It may or may not be legal. C. It is always legal. D. It is only illegal in Europe. E. It is always illegal.

B. It may or may not be legal.

At which step of the selling process does the salesperson tell the "value story" to the buyer, showing how the company's offer solves the customer's problems? A. Approach B. Presentation C. Handling objections D. Preapproach E. Closing

B. Presentation

Which of the following are used to persuade resellers to carry a brand, give it shelf space, and promote it in advertising? A. Consumer promotions B. Trade promotions C. Sales force promotions D. Clutter promotions E. Business promotions

B. Trade promotions

Exclusive dealing occurs when A. the producer agrees not to sell to other dealers in a given area B. the seller drops a dealer without cause C. the seller requires that exclusive dealers not handle competitors' products D. the buyer agrees to sell only in its own territory E. producers of a strong brand sell it to dealers only if the dealers will take some or all of the rest of its line

C. the seller requires that exclusive dealers not handle competitors' products

Which of the following statements about personal selling is correct? A. Salespeople sell; they do not have a role in creating value for the customer. B. Personal selling is a fairly new profession. C. The sales force should work separately from other marketing functions. D. Many customers are unable to distinguish the salesperson from the company. E. The role of personal selling is very consistent from company to company.

D. Many customers are unable to distinguish the salesperson from the company.

________________ is planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customers' requirements at a profit. A. Third-party logistics B. Supply chain management C. Integrated logistics management D. Marketing logistics

D. Marketing logistics

The goal of a push strategy is to _____________ A. save money by only focusing on consumers B. build trade demand C. give channel members additional media incentives to carry the product D. increase sales calls to distributors E. induce channel members to carry and promote the product

E. induce channel members to carry and promote the product

In which of the following does a producer direct marketing activities (primarily personal selling and trade promotion) toward channel members? A. Integrated communications B. A pull strategy c. A push strategy D. Product communications E. A personal selling strategy

c. A push strategy

Which of the following statements is true about public relations and a company's overall integrated marketing communications efforts? A. PR is now the more dominant media than other forms. B. PR should have a separate budget from marketing communications. c. PR should be blended smoothly with promotion activities. D. PR should be planned first, then advertising second. E. PR has no value within a social media context.

c. PR should be blended smoothly with promotion activities.

The obiective-and-task method is __________ A. setting the promotion budget to match competitors' outlays B. setting the promotion budget at the level management thinks the company can afford C. developing the promotion budget by 1) defining specific promotion objectives, 2) determining the tasks needed to achieve these objectives, and 3) estimating the costs of performing these tasks D. setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price

C. developing the promotion budget by 1) defining specific promotion objectives, 2) determining the tasks needed to achieve these objectives, and 3) estimating the costs of performing these tasks

Marketing logistics is __________________ A. managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers B. an independent logistics provider that performs any or all of the functions required to get a client's product to market C. planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customers' requirements at a profit D. the logistics concept that emphasizes teamwork-both inside the company and among all the marketing channel organizations-to maximize the performance of the entire distribution system

C. planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customers' requirements at a profit

When, if ever, is price discrimination allowed? A. If the seller can prove that it is allowable in certain states and local retailing areas, then it is legal. B. If the seller can substantiate that it is distributing internationally, then it is legal. C. If the seller can prove that its revenue is affected when selling to similar retailers, then it is legal. D. If the seller can prove that its costs are different when selling to different retailers, then it is legal. E. If the seller is selling via the Internet as its main channel, then it is legal.

D. If the seller can prove that its costs are different when selling to different retailers, then it is legal.

P&G sales reps are integrated into Customer Business Development (CBD) teams. Each CBD team is assigned to a major P&G customer, such as Walmart, Safeway, or CVS Health. P&G has adopted a _______ sales force structure. A. Product B. Social C. Territorial D. Market E. Complex

D. Market

Which of the statements is true regarding media and message decisions? A. Media and message decisions have no impact on results. B. Message decisions are now more important than media decisions. C. Media and message decisions have no relationship to budgeting. D. Media and message decisions are independent of each other. E. Media and message decisions should be closely coordinated.

E. Media and message decisions should be closely coordinated.

The four elements of a compensation plan for salespeople are _______ A. a fixed amount, a variable amount, expenses, and commission B. a fixed amount, a variable amount, salary, and commission C. a fixed amount, a variable amount, stock ownership, and fringe benefits D. a fixed amount, a variable amount, expenses, and salary E. a fixed amount, a variable amount, expenses, and fringe benefits

E. a fixed amount, a variable amount, expenses, and fringe benefits

In terms of multimodal transportation, the term fishyback refers to the use of which types of transportation? A. Rail and trucks B. Water and rail c. Water and trucks D. Air and trucks E. Air and water

c. Water and trucks

Information can be shared and managed in many ways, but most sharing takes place through A. OTIF B. EDI C. RFID D. VMI E. VMS

B. EDI

When a college or university charges more for out-of-state students than in-state students, it is practicing __________ pricing. A. product form B. customer-segment c. location-based D. promotional E. time-based

c. location-based

__________ is setting a low price for a new product in order to attract a large number of buyers and a large market share. A. Market-penetration pricing B. Product line pricing C. Market-skimming pricing D. Captive-product pricing

A. Market-penetration pricing

_______________ is setting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors' prices. A. Product line pricing B. Marker-skimming pricing C. Market-penetration pricing D. Captive-product pricing

A. Product line pricing

When the company has defined its channel objectives, it should next identify its major channel alternatives in terms of the types of intermediaries, the number of intermediaries, and _______________ A. the responsibilities of channel members B. the profitability of the channel C. economic criteria D. whether to use intensive or exclusive distribution E. consumer needs

A. the responsibilities of channel members

As companies become more market-centered, a customer-focused sales force ___________ A. works to produce both customer satisfaction and company profit B. becomes more focused on profit and less on the customer C. is less important than the results advertising and sales promotion can reap D. has greater incentives to produce revenue E. only needs to coordinate its efforts with marketing planners

A. works to produce both customer satisfaction and company profit

A territorial sales force structure is a sales force organization _______ A. in which salespeople specialize in seling only to certain customers or industries B. in which salespeople specialize in selling only a portion of the company's products or lines C. that assigns each salesperson to an exclusive geographic area in which that salesperson sells the company's full line D. is salespeople who conduct business from their offices via telephone, the Internet, or visits from prospective buyers

C. that assigns each salesperson to an exclusive geographic area in which that salesperson sells the company's full line

___________ are the four promotion mix tools used by marketers to communicate customer value. A. Public relations, personal selling, websites, and advertising B. Advertising, public relations, personal selling, and telemarketing C. Advertising, business-to-business selling, personal selling, and sales promotion D. Advertising, public relations, personal selling, and sales promotion E. Television advertising, radio advertising, online advertising, and social media advertising

D. Advertising, public relations, personal selling, and sales promotion

_____________ are the objectives of business promotions. A. Getting retailers to carry new items and more inventory, buy ahead, or promote the company's products and give them more shelf space B. Urging short-term customer buying and gaining customer loyalty C. Boosting consumer brand involvement and short-term buying D. Generating business leads, stimulating purchases, rewarding customers, and motivating salespeople E. Boosting customer-brand engagement

D. Generating business leads, stimulating purchases, rewarding customers, and motivating salespeople

Channels often involve long-term commitments, and companies have many alternatives. What type of criteria should be used if the company wants to keep the channel flexible so that it can respond to environmental changes? A. Investment criteria B. Sales criteria C. Profitability criteria D. Control criteria E. Adaptability criteria

E. Adaptability criteria

Designing products to deliver the desired value at a target price is the _____________________ step in value-based pricing. A. Fourth B. Second C. Third D. First

A. Fourth

Intensive distribution is _______________. A. stocking the product in as many outlets as possible B. giving a limited number of dealers the exclusive right to distribute the company's products in their territories C. a distribution system in which a single firm sets up two or more marketing channels to reach one or more customer segments D. the use of more than one but fewer than all of the intermediaries who are willing carry the company's products

A. stocking the product in as many outlets as possible

_______ pricing is the opposite of free onboard pricing. Here, the company charges the same price plus freight to all customers, regardless of their location. A. Zone B. Uniform-delivered C. Destination-based D. Origin-based E. Freight-absorption

B. Uniform-delivered

A conventional distribution channel is a ________________. A. set or interdependentorganizations that help make a product or service available for use or consumption by the consumer or business user B. channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole C. marketing channel that has no intermediary levels D. marketing channel containing one or more intermediary levels

B. channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole

Marketing channel management is _________________ A. a layer of intermediaries that performs some of the work in bringing the product and its ownership closer to the final buyer B. selecting, managing, and motivating individual channel members and evaluating their performance over time C. the cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries D. a distribution system in which a single firm sets up two or more marketing channels to reach one or more customer segments

B. selecting, managing, and motivating individual channel members and evaluating their performance over time

_______________ is personal presentation by the firm's sales force for the purpose of making sales and building customer relationships. A. public relations D. Advertising C. Sales promotion D. Personal selling

D. Personal selling

Target costing is ______________ A. A cost that does not vary with production or sales level B. A cost that varies directly with the level of production C. The sum of the fixed and costs for any giving level of production D. Pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met

D. Pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met

Which of the following statements is true regarding the selection of qualified channel members? A. To find and select qualified channel members, firms simply refer to a national online database. B. Firms select only qualified channel members in their immediate geographical area. C. Established brands have no trouble finding and keeping qualified channel members. D. Producers vary in their ability to attract qualified marketing intermediaries. E. Selecting qualified channel members is largely controlled by government regulation.

D. Producers vary in their ability to attract qualified marketing intermediaries.

Which of the following statements about public relations is correct? A. Public relations now captures a substantial portion of the overall marketing budgets of many firms. B. The impact of public relations on public awareness comes at a much higher cost than advertising. C. Public relations is only used to promote products. D. The lines between advertising and public relations are becoming more blurred. E. Public relations cannot be used to engage consumers.

D. The lines between advertising and public relations are becoming more blurred.

Target costing is __________ A. a cost that does not vary with production or sales level B. a cost that varies directly with the level of production C. the sum of the fixed and variable costs for any given level of production D. pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met

D. pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met

A(n) ________ is a sales force organization in which salespeople specialize in selling only a portion of the company's products or lines. A. customer sales force structure B. territorial sales force structure C. an inside sales force D. product sales force structure

D. product sales force structure

___________________ is the logistics concept that emphasizes teamwork-both inside the company and among all the marketing channel organizations-to maximize the performance of the entire distribution system. A. Marketing logistics B. Third-party logistics C. Supply chain management D.Integrated logistics management

D.Integrated logistics management

What are the four steps to designing marketing channels, in the correct order? A. Identifying the design of competitors' channels, analyzing consumer needs, setting channel objectives, and evaluating channel alternatives B. Analyzing consumer needs, setting channel objectives, identifying the design of competitors' channels, and evaluating the alternatives c. Analyzing consumer needs, setting channel objectives, identifying major channel alternatives, and evaluating the alternatives D. Identifying the design of competitors' channels, setting channel objectives, analyzing consumer needs, and evaluating channel alternatives E. Setting channel objectives, analyzing consumer needs, identifying major channel alternatives, and evaluating the alternatives

c. Analyzing consumer needs, setting channel objectives, identifying major channel alternatives, and evaluating the alternatives

Of the following, which is true about pricing? A. Federal law is the overriding authority on pricing. B. Companies have no obligation to consider broader societal pricing concerns. c. Price competition is a core element of our free-market economy. D. Companies usually are free to charge whatever prices they wish. E. Companies do not need to communicate reasons for price increases to customers.

c. Price competition is a core element of our free-market economy.

Which of the following reverses the usual process of first designing a new product, determining its cost, and then asking, "Can we sell it for that?" A. Target return pricing B. Cost-plus pricing c. Target costing D. EDLP E. Value-added pricing

c. Target costing

For a market-skimming pricing strategy to make sense, which condition must be present in the market? A. The quality level of the product does not match the higher price. B. Competitors are able to enter the market quickly. c. The costs of producing a smaller volume cannot cancel the advantage of charging more. D. The company seeks to attract a large number of buyers quickly. E. Competitors are able to undercut the high price.

c. The costs of producing a smaller volume cannot cancel the advantage of charging more.

Which of the following statements is correct regarding marketing communications today? A. Advertisers are now able to engage smaller customer segments with more personalized, interactive content. B. Marketers are reversing the trend toward digital media. C. Marketers can no longer utilize cross-platform campaigns. D. Most marketers do not use integrated marketing communications tools or planning. E. Digital and social media have given birth to a more targeted, more social, but less engaging marketing communications.

A. Advertisers are now able to engage smaller customer segments with more personalized, interactive content.

Which of the following describes layers of intermediaries performing some of the work to bring the product and its ownership closer to the final buyer? A. Channel levels B. Supply chains C. Marketing channels D. Networking contacts E. Value delivery networks

A. Channel levels

Which of the following are four the major types of sales promotion tools? A. Consumer, trade, business, and sales force B. Consumer, business, trade, and retail C. Customer, retail, wholesale, and sales force D. Customer, trade, sales force, and business E. Consumer, customer, potential customer, and trade

A. Consumer, trade, business, and sales force

What are the four important decisions made when developing an advertising program in order? A. Setting objectives, setting the budget, developing strategy, and evaluating effectiveness B. Setting the budget, setting objectives, developing strategy, and evaluating effectiveness C. Setting objectives, setting the budget, developing message strategy, and determining media timing D. Setting objectives, setting the budget, determining the impact on sales and profits, and determining the return on investment E. Developing message strategy, developing message execution, selecting media, and determining media timing

A. Setting objectives, setting the budget, developing strategy, and evaluating effectiveness

What does an administered vertical marketing system coordinate? A. Successive stages of production and distribution through the size and power of one of the parties B. A channel structure in which producers, wholesalers, and retailers act as a unified system C. A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity D. Independent firms at different levels of production and distribution joining together through contracts

A. Successive stages of production and distribution through the size and power of one of the parties

___________entails managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers. A. Supply chain management B. Wholesaling C. Reseller networks D. Distribution networks management E. Business distribution management

A. Supply chain management

Total cost are _____________ A. The sum of the fixed and variable costs for any given level of production B. The sum of the values that customers exchange for the benefits of having or using the product or service C. Costs that vary directly with the level of production D. Costs that do not vary with production or sales level

A. The sum of the fixed and variable costs for any given level of production

A horizontal marketing system is a ________________. A. channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity B. channel structure in which producers, wholesalers, and retailers act as a unified system C. system that consists of independent firms at different levels of production and distribution joining together through contracts D. system that coordinates successive stages of production and distribution through the size and power of one of the parties

A. channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity

A(n) __________ consists of independent firms at different levels of production and distribution joining together through contracts. A. contractual vertical marketing system B. horizontal marketing system C. vertical marketing system D. administered vertical marketing system

A. contractual vertical marketing system

A(n) ____________ is a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole. A. conventional distribution channel B. direct marketing channel C. marketing channel D. indirect marketing channel

A. conventional distribution channel

The fantasy style _______________ A. creates an imaginary situation around the product or its use B. shows one or more "typical" people using the product in a normal setting C. shows how a product fits in with a particular lifestyle D. builds a mood or image around the product or service., such as beauty, love, intrigue, or serenity

A. creates an imaginary situation around the product or its use

Marketers use three major pricing strategies: A. customer value-based pricing, cost-based pricing, and competition-based pricing B. demand-based pricing, cost-based pricing, and competition-based pricing C. demand-based pricing, revenue-based pricing, and government-based pricing D. customer value-based pricing, cost-based pricing, and revenue-based pricing E. customer value-based pricing, cost-based pricing, and government-based pricing

A. customer value-based pricing, cost-based pricing, and competition-based pricing

The ____________________ is setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price. A. percentage-of-sales method B. competitive-parity method C. affordable method D. objective-and-task method

A. percentage-of-sales method

Companies use the media, and their communities. to build good relations with consumers, investors, A. public relations B. sales promotion C. telemarketing D. advertising E. personal selling

A. public relations

In the context of advertising media, ______________ is a measure of the percentage of people in the target market who are exposed to an ad campaign during a given period of time. A. reach B. media impact C. frequency D. qualitative value E. media engagement

A. reach

The lifestyle style ________________ A. shows how a product fits in with a particular way of life B. creates a fantasy around the product or its use C. shows one or more "typical" people using the product in a normal setting D. builds a mood or image around the product or service. such as beauty, love, intrigue, or serenity

A. shows how a product fits in with a particular way of life

Which of the following identifies the six major sales force management steps in the correct order? A. Evaluating salespeople, designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, and supervising salespeople B. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, supervising salespeople, evaluating salespeople, and compensating salespeople C. Recruiting and selecting salespeople, training salespeople, designing sales force strategy and structure, evaluating salespeople, compensating salespeople, and supervising salespeople D. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, evaluating salespeople, compensating salespeople, and supervising salespeople E. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, supervising salespeople, and evaluating salespeople

E. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, supervising salespeople, and evaluating salespeople

Marketers now have a richer mix of media and content approaches with consumers being bombarded by many brand messages. The result is that _______________ A. consumers don't distinguish between content sources the way marketers do B. companies fail to integrate brand messages and positioning C. companies do not target successfully or efficiently D. consumers may believe similar brands are all the same E. companies fail to integrate their various communication channels

E. companies fail to integrate their various communication channels

Most companies today see their intermediaries as first-line customers and focus on ______________ to forge long-term relationships with channel members. A. discounted prices B. promotional incentives C. legal contracts D. government assistance E. partner relationship management

E. partner relationship management

When a retailer temporarily prices a few select items below cost to create excitement and pull consumers into the store, it is practicing______ pricing. A. psychological B. optional-product C. segmented D. geographical E. promotional

E. promotional

__________ is one major objective associated with a market-penetration pricing strategy. A. Attracting buyers willing to pay a higher price B. Preventing customer dissatisfaction c. Winning large market share D. Skimming off small but profitable market segments E. Avoiding everyday low pricing

c. Winning large market share

Nintendo makes little or no profit on its Switch video game consoles. However, it hopes to more than make up for thin console margins through sales of Switch video games, which yield much higher unit sales and margins. Nintendo is using a strategy of ___________ pricing. A. product bundle B. by-product c. captive-product D. two-part E. product line

c. captive-product

The Robinson-Patman Act seeks to ensure that sellers offer the same price terms to customers at a given level of trade to prevent _______ A. predatory pricing B. retail price maintenance c. price discrimination D. price-fixing E. deceptive pricing

c. price discrimination

More than a territory, compensation, and training, new salespeople need ____________ A. reasonable sales goals B. product knowledge c. supervision and motivation D. customer relationship management skills E. ongoing customer sales support

c. supervision and motivation

During the presentation step in the personal selling process, the salesperson should ______________ A. close the deal B. meet the buyer for the first time c. tell the buyer a "value story" D. attempt to "razzle-dazzle" the buyer E. handle objections

c. tell the buyer a "value story"

The structure decision is simple if the company sells only one product line to one industry with customers in many locations. In that case the company would use a sales force structure. A. product B. complex c. territorial D. social E. customer

c. territorial

Which of the following statements is correct regarding price changes? A. A company that wishes to dominate a market could potentially do so by lowering its prices. B. A brands price and image are unrelated. C. A price increase will always lower sales. D. When costs go up, companies should automatically increase prices. E. When changing price, a company should focus on buyers and not worry about competitors.

A. A company that wishes to dominate a market could potentially do so by lowering its prices.

Which of the following is an example of vertical channel conflict? A. A retailer complaining about receiving damaged electronics goods from a wholesaler B. A fast-food franchisee complaining that another franchise restaurant is providing poor service, hurting the overall chain's image C. A Subaru dealer complaining that another Subaru dealer is advertising in its territory D. A hotel franchisee complaining that another franchise operator is overcharging guests E. A car dealer complaining that another dealer in the city is stealing sales by pricing its cars too low

A. A retailer complaining about receiving damaged electronics goods from a wholesaler

___________ is the first step in cost-based pricing. A. Designing a good product B.v setting the price based on cost C. Determining product costs D. Convincing buyers of a product's value

A. Designing a good product

The ___________ shows how a product fits in with a particular way of life. A. lifestyle style B. slice of life style C. fantasy style D. mood or image style

A. lifestyle style

_____________ is setting a price for products that must be used along with a main products, such as blades for a razor and games for a video-games console. A. Market-penetration pricing B. Captive-product pricing C. Market-skimming pricing D. Product line pricing

B. Captive-product pricing

___________ is the sales step in which a salesperson seeks out, clarifies, and overcomes any customer objections to buying. A. Preapproach B. Handling objections C. Approach D. Presentation

B. Handling objections

Which of the following recognizes that improved logistics mandates teamwork across the company and the entire supply chain? A. Logistics information management B. Integrated supply chain management C. Electronic data exchange D. Just-in-time logistics management E. Reverse logistics management

B. Integrated supply chain management

When competitors set prices by talking with each other, they are engaging in which of the following? A. Price discrimination B. Price-fixing C. Deceptive pricing D. Predatory pricing E. Price maintenance

B. Price-fixing

Price ceilings are set by customer perceptions of the product's value. Which of the following sets the floor for the price that a company charges? A. Competitors B. Product costs C. Market conditions D. Customers E. Revenue projections

B. Product costs

When Microsoft or Apple sells software as a package, it is engaging in what type of pricing? A. Product line pricing B. Product-bundle pricing C. Captive-product pricing D. By-product pricing E. Break-even pricing

B. Product-bundle pricing

_________ are promotional tools that can be used to attract consumers. A. Coupons, sales contests, samples, and price packs B. Rebates, coupons, price packs, and samples C. Trade shows, coupons, samples, and push money D. Rebates, coupons, samples, and push money E. Coupons, rebates, off-list discounts, and price packs

B. Rebates, coupons, price packs, and samples

Cost-based pricing is ________________ A. The amount of Monet charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service B. Setting prices on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk C. Attaching value-added features and services to differentiate a company's offers and charging higher prices D. Setting a price based on a buyer's perceptions of value rather than on the seller's cost

B. Setting prices on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk

Which of the following statements about public relations is correct? A. It is difficult to integrate public relations into social media. B. The lines between advertising and public relations are becoming more blurred. C. Public relations is used only to promote products. D. The impact of public relations on public awareness comes at a much higher cost than advertising. E. Public relations is not used to engage consumers.

B. The lines between advertising and public relations are becoming more blurred.

Which of the following indicates the length of a channel? A. The number of final consumers in the channel B. The number of producers in the channel c. The number of intermediary levels in the channel D. The number of retailers in the channel E. The number of wholesalers in the channel

B. The number of producers in the channel

A vertical marketing system is ________________ A. a system that coordinates successive stages of production and distribution through the size and power of one of the parties B. a channel structure in which producers, wholesalers, and retailers act as a unified system C. a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity D. a system in which independent firms at different levels of production and distribution join together through contracts

B. a channel structure in which producers, wholesalers, and retailers act as a unified system

A(n) _________ consists of independent firms at different levels of production and distribution joining together through contracts. A. administered vertical marketing system B. contractual vertical marketing system C. vertical marketing system D. Horizontal marketing system

B. contractual vertical marketing system

A contractual vertical marketing system consists of ______________ A. a channel structure in which producers, wholesalers, and retailers act as a unified system B. independent firms at different levels of production and distribution joining together through contracts C. a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity D. successive stages of production and distribution through the size and power of one of the parties

B. independent firms at different levels of production and distribution joining together through contracts

A trade promotion is ______________ A. a sales promotion tool used to boost short-term customer buying and involvement or enhance long-term customer relationships B. a sales promotion tool used to generate business leads, stimulate purchases, reward customers, and motivate salespeople C. a sales promotion tool used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to customers D. creating a brand-marketing event or serving as a sole or participating sponsor of events created by others

C. a sales promotion tool used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to customers

Sales force management refers to ____________ A. a sales force organization in which salespeople specialize in selling only a portion of the company's products or lines B. a team that conducts business from their offices via phone, online and social media interactions, or visits from buyers C. analyzing, planning, implementing, and controlling sales force activities D. a sales force organization in which salespeople specialize in selling only to certain customers or industries

C. analyzing, planning, implementing, and controlling sales force activities

Public affairs is _____________ A. building and maintaining relationships with legislators and government officials to influence legislation and regulation B. a function in which companies create and place newsworthy information in the new media to attract attention to a person, product, or service C. building and maintaining national or local community relationships D. Publicizing specific products

C. building and maintaining national or local community relationships

A salesperson represents a ______________ A. presentation by a firm's sales force for the purpose of making sales and building customer relationships B. management member that is analyzing, planning, implementing, and controlling sales force activities C. company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building D. a team member from sales, marketing. enginering, finance, technical support, and even upper management to service large, complex accounts

C. company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

The ________________ shows how a product fits in with a particular way of life. A. fantasy style B. slice of life style C. lifestyle style D. mood or image style

C. lifestyle style

The new product pricing strategy of ___________ means the initial price is set high. A. market-penetration pricing B. product line pricing C. market-skimming pricing D. captive-product pricing

C. market-skimming pricing

Disintermediation is _________________ A. selecting, managing, and motivating individual channel members and evaluating their performance over time B. a single firm to set up two or more marketing channels to reach one or more customer segments C. the cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by d. radical new types of intermediaries D. a layer of intermediaries that performs some of the work in bringing the product and its ownership closer to the final buyer

C. the cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by d. radical new types of intermediaries

What is a vertical marketing system (VMS)? A. A channel arrangement in which producers, wholesalers, and retailers act independently from one another B. A channel arrangement in which two channel members at the same level partner to exploit an opportunity C. A channel arrangement in which manufacturers sell directly to buyers D. A channel arrangement in which producers, wholesalers, and retailers act as a unified system E. Atype of disintermediation

D. A channel arrangement in which producers, wholesalers, and retailers act as a unified system

At which step in the personal selling process does a salesperson meet the customer for the first time? A. Presentation B. Prospecting C. Preapproach D. Approach E. Qualifying

D. Approach

__________ is the sales step in which a salesperson meets the customer for the first time. A. Presentation B. Handling objections C. Preapproach D. Approach

D. Approach

In which stage of the selling process does the salesperson ask for an order? A. Handling objections B. Approach C. Follow-up D. Closing E. Presentation

D. Closing

Which of the following statements about personal selling is correct? A. Personal selling is a fairly new profession. B. Personal selling is the nonpersonal arm of the promotional mix. C. Salespeople represent the company to customers, but they do not represent customers to the company. D. Salespeople are often the only direct contact with a customer. E. The role of personal selling is very consistent from company to company.

D. Salespeople are often the only direct contact with a customer.

Which of the following statements about sales promotions is correct? A. Companies that use sales promotions usually do not use any other promotional mix tools. B. The use of sales promotions has declined in recent years. c. Sales promotions offer long-term incentives to buy a product. D. The heavy use of sales promotions has resulted in promotion clutter. E. Sales promotions are only offered to consumers.

D. The heavy use of sales promotions has resulted in promotion clutter.

Americans eat some 9 billion chickens a year but not the feet. But thanks to the huge demand in China, chicken feet are now a huge profit center. Perdue sells some $40 million of the otherwise valueless by-product to China annually. This is an example of ___________ pricing. A. captive-product B. product bundle c. optional-product D. by-product E. product line

D. by-product

A salesperson represents a ____________ A. management member that is analyzing, planning, implementing, and controlling sales force activities B. presentation by a firm's sales force for the purpose of making sales and building customer relationships C. a team member from sales, marketing: engineering, finance, technical support, and even upper management to service large, complex accounts D. company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

D. company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

Personal selling __________ A. is analyzing, planning, implementing, and controlling sales force activities B. is a standard that states the amount a salesperson should sell and how sales should be divided among the company's products C. uses teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts D. consists of interpersonal interactions with customers and prospects to make sales and maintain customer relationships

D. consists of interpersonal interactions with customers and prospects to make sales and maintain customer relationships

Supply chain management is _______________ A. the logistics concept that emphasizes teamwork to maximize the performance of the entire distribution system B. an independent logistics provider that performs any or all of the functions required to get a client's product to market C. planning, implementing, and controlling the physical flow of materials, final goods, and related information D. managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers

D. managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers

A third-party logistics provider _______________ A. is the logistics concept that emphasizes teamwork-both inside the company and among all the marketing channel organizations-to maximize the performance of the entire distribution system B. is managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers C. is planning, implementing, and controlling the physical flow of materials, final goods, and related information D. performs any or all of the functions required to get a client's product to market

D. performs any or all of the functions required to get a client's product to market

The competitive-parity method is ________________ A. concoping the promotionbudger B. setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price C. setting the promotion budget at the level management thinks the company can afford D. setting the promotion budget to match competitors' outlays

D. setting the promotion budget to match competitors' outlays

If the company has selected its target market and positioning carefully, then its marketing mix strategy, including price, will be fairly straightforward. Of the following, which is NOT one of the common pricing objectives? A. Supporting resellers and gaining their support B. Customer retention and building profitable customer relationships C. Preventing competition D. Avoiding government intervention E. Grabbing international market share

E. Grabbing international market share

Which of the following is a reason that producers use marketing channels and channel intermediaries? A. The reduced costs of using channel intermediaries offsets the inefficiencies of marketing channels. B. Using channel intermediaries increases the number of contacts with customers. C. Using marketing channels allows producers to retain control over how and to whom they sell their products. D. Marketing channel decisions only require a short-term commitment. E. Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.

E. Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.

Which of the following BEST describes a company's efforts to engage customers, persuasively communicate customer value, and build customer relationships? A. Marketing mix B. Advertising and public relations mix C. Personal and direct selling mix D. Content marketing mix E. Promotion mix

E. Promotion mix

When designing marketing channels, companies must determine the number of channel members to use at each level. The three strategies that are available to do this are __________ distribution. A. targeted, segmented, and global B. intensive, exclusive, and global C. intensive, selective, and targeted D. open, closed, and franchise E. intensive, exclusive, and selective

E. intensive, exclusive, and selective

Personal selling can be more effective than advertising in complex selling situations because it is ____________ A. nonpersonal B. designed to reach large groups of consumers C. only used for face-to-face customer interactions D. less engaging than advertising E. interpersonal

E. interpersonal

When setting marketing channel objectives, companies should state the objective in terms of A. competitors' objectives B. the length of the channel C. exclusive distribution arrangements D. expected profitability E. targeted levels of customer service

E. targeted levels of customer service

Which budgeting method involves setting a company's promotion budget to match the standard outlays for the industry? A. Affordable method B. Objective-and-task method c. Competitive-parity method D. Percentage-of-sales method E. Percentage-of-profits method

c. Competitive-parity method

The franchise organization is associated with which type of marketing system? A. Multichannel distribution system B. Corporate VMS c. Contractual VMS D. Horizontal marketing system E. Administered VMS

c. Contractual VMS

Which consumer promotion tool is like coupons, except that the price reduction occurs after the purchase rather than at the retail outlet? A. Contests B. Digital coupons c. Rebates D. Samples E. Premiums

c. Rebates