AC 114 (test 3 and 4)
What do the BRIC countries have in common?
They are experiencing significant levels of economic growth.
in the ethical decision-making metric, the question that asks "would I want the person I admire most to see me doing this?" applies to the
admired observer test
the goals of IMC need to
be explicit and measurable
As the number of communication media has increased, the task of understanding how best to reach target customers has
become easier
suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort. You are engaged in ___, a form new idea generation
brainstorming
the point at which number of units sold generates enough revenue to equal the total
break-even point
variable costs change with
changes in the quantity being produced
all of the following are included in the five C's of pricing except
collaboration
in the IMC communication process, the ___ is the medium that carries the message
communication channel
When firms set prices similar to those of competitors, they are following a strategy of
comparative parity
in general, prices should not be based on costs because
consumers make their purchase decisions based on perceived value
in integrated marketing communications, encoding involves
converting the sender's ideas into a message
For every consumer who purchases a pair of TOMS shoes for $55.00, the company promises that a needy child will receive a pair of shoes. TOMS shoes is actively engaging in
corporate social responsibility
compared with other methods used to set prices, ___ pricing is relatively simple
cost-based
___ refers to the process by which the receiver interprets the sender's message
decoding
Typically, manufacturers and retailers exchange business documents through a(n) __________ system, the computer-to-computer exchange of business documents from a retailer to a vendor and back.
electronic data interchange
Radio Frequency Identification (RFID) tags are
electronic discount information tags used to provide reduced prices to select customers
When the value of the dollar declines in relation to other currencies, it benefits U.S. marketers who
export goods to other countries
When entering a foreign market, the least risky strategy is
exporting
Some retailers require their suppliers to ship merchandise ___________, thus eliminating the time and expense associated with ticketing and marking.
floor-ready
the goal of any marketing communication is to
get the right message to the right audience through the right media
in a(n) ____ pricing strategy, marketers rely on the promotion of sales, during which prices are temporarily reduced to encourage purchases
high/low
in an ___ marketing channel, several independent members each attempt to satisfy their own objectives and maximize their profits, often at the expense of the other members
independent
when considering global marketing opportunities in Bangladesh, Tom asked the question, "How will it get there?" Tom is concerned about _____ capabilities in Bangladesh
infrastructure
all of the following steps are steps in the AIDA model except
intention
predatory pricing
is legal in the US when a company wants to set a very low price to drive its competition out of business
A strategy of setting prices based on how customers develop their perceptions of value can often be the most effective pricing strategy, especially if the strategy
is supported by consistent advertising and distribution stages
How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain?
it can purchase coffee beans from suppliers who pay coffee growers a fair price
____ offer an inconsistent assortment of brand-name merchandise at low prices
off-price retailers
____ is the term used to describe the situation when retailers use some combination of stores, catalogs, and the internet to sell merchandise
omnichannel retailing
in diffusion of innovation process, innovators enjoy taking risks and are regarded as highly knowledgeable. Marketers want to identify innovators because
other consumers defer to their judgement, creating the opportunity for word-of-mouth referrals
which element of the marketing mix specifically deals with supply chain management
place
when marketers establish a price floor and a price ceiling for an entire line of similar products and then set price points in between for differences in quality among the products, they are using a
price lining
Tariffs, quotas, and currency exchange policies affect global
pricing strategies
The complete set of all products offered by a firm is called its
product mix
integrated marketing communications represents the ____ element in the four P's of a firm marketing mix
promotion
a ______ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products
quota
all of the following are benefits of new product development to a firm except
reducing the cost of production
When Costco sells to consumers directly, it acts as a _______; when it sells to other businesses, such as a restaurant owner, it acts as a _______.
retailer; wholsaler
___ is another term for private-label brands
store brands
According to a typical demand curve, the higher the price,
the lower the quantity consumers will buy
GDP is defined as
the market value of goods and services produced in a country in a year
in marketing's price four P's, place refers to all activities required to get
the right product to the right customer when that customer wants it
one important reason manufacturers like rebates is that:
their redemption rates are low
all of the following are questions posed in the ethical decision-making metric except
will this action help advance my career?
Today, many developed countries are experiencing __________ population growth.
zero or negative