Marketing Exam 2 Study Guide
Which of the following statements describes a key difference between advertising and public relations?
Advertising is usually directly paid while public relations is usually indirectly paid.
The A Company will incur fixed costs of $400,000 and unit variable costs of $20 on its new wireless earphones. Hughes plans to price the earphones at $40. To break-even, Hughes must sell _____ units.
BEP = Fixed Cost / (Unit Price - Unit Variable Cost)
A wallet manufacturer incurs a variable cost of $15 per watch and fixed costs of $450,000. To earn a 20 percent markup on selling price, the manufacturer would charge ______ for each of the 50,000 wallets it expects to sell.
Markup Price = unit cost (unit VA + unit FC) / (1 - desired return on sales)
Which of the following statements regarding the role of salespeople is most accurate?
Salespeople can identify creative solutions to customer problems.
Which of the following best illustrates a shift in the demand curve?
When prices remain the same, there is an increase or decrease in demand.
If a firm's marketing dashboard displays a BDI of 120 for a consumer packaged good like Hawaiian Punch, this indicates which of the following?
a strong brand position in a segment
To be identified as a market segment, members of the group must
be similar in terms of their consumption behavior.
Services provided by specialized professionals, such as medical diagnoses and legal services, have certain properties or characteristics that the consumer may find impossible to evaluate even after their purchase or consumption. What are these properties called?
credence properties
Which of the following would be least likely to be used for mass selling?
personal selling
A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as
product differentiation.
When Proctor & Gamble revamped Pantene shampoo and conditioner with a new vitamin formula and relaunched the brand with a multimillion-dollar advertising and promotion campaign, what strategy did it use to manage the product through its life cycle?
product modification
The salesperon's objective is to "search for and qualify potential customers" during which stage in the personal selling process?
prospecting
The dimension of service quality called __________ is willingness to help customers and provide prompt service.
responsiveness
