marketing exam 3

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

A. Product bundle pricing

Recent years have seen the rapid growth of superstores that are actually giant specialty​ stores; they are sometimes called​ ______. A. warehouse clubs B. convenience stores C. discount stores D. category killers E. corporate chains

D. category killers

A​ salesperson's role as​ a(n) ________ demands creative​ selling, social​ selling, and relationship building. A. order getter B. order taker C.sales manager D.broker E. PR specialist

A. order getter

There are several types of product mix pricing​ situations, which include​ ______________, by-product​ pricing, and product bundle pricing. A. product line​ pricing, optional-product​ pricing, captive-product pricing B. non-bundling product​ pricing, optional-product​ pricing, captive-product pricing C. product line​ pricing, off-product​ pricing, captive-product pricing D. product line​ pricing, mandatory product​ pricing, captive-product pricing E. sales line​ pricing, optional-product​ pricing, captive-product pricing

A. product line​ pricing, optional-product​ pricing, captive-product pricing

Distribution channels are complex​ ______________ in which people and companies interact to accomplish​ individual, company, and channel goals. A. logistical systems B. behavioral systems C. joint marketing systems D. psychological systems E. ecosystems

B. behavioral systems

Printer companies often charge a fairly low price for their inkjet printers​ (relative to​ costs) and a high price for replacement cartridges. These companies are using a strategy of​ ___________ pricing. A. optional-product B. captive-product C. product line D. by-product E. product bundle

B. captive-product

___________ are payments or price reductions that reward dealers for participating in advertising and​ sales-support programs. A. cash discounts B. promotional allowances C. quantity discounts D. volume discounts E. trade-in allowances

B. promotional allowances

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

B. public relations

International marketers and advertisers face challenges not encountered domestically. The most basic issue concerns​ ____________. A. differences in languages and religious practices in multiple country markets B. the amount of adaptation required for the unique characteristics of various country markets This is the correct answer. C. lack of infrastructure and technology required for social or digital advertising D. government regulation and censorship in select country markets E.the difficulties in obtaining appropriate media outlets in multiple country markets

B. the amount of adaptation required for the unique characteristics of various country markets

Progressive wholesalers constantly watch for better ways to meet the changing needs of​ _________________. A. their suppliers and other wholesalers B. their suppliers and target customers C. distribution channels and suppliers D. domestic and international customers E. target customers and other wholesalers

B. their suppliers and target customers

Most producers use intermediaries by forging a marketing channel​ (or distribution​ channel) to bring products and services to the consumer or business user. They do this because of​ _________, specialization, and scale of operation. A. the​ intermediaries' ability to offer data analytics B. the​ intermediaries' contacts and experience C. the​ intermediaries' contacts D. the​ intermediaries' experience E. the​ intermediaries' ability to offer manufacturing services

B. the​ intermediaries' contacts and experience

A company sets a high price on a new product it introduces to maximize revenue from various market segments. Which new product pricing strategy is the company​ using? A. Market-penetration pricing B. Captive-product pricing C. Market-skimming pricing D. Product bundle pricing E. Product line pricing

C. Market-skimming pricing

Which of the following is TRUE regarding new types of channel​ organizations? A. They provide stronger leadership for​ larger-scale companies. B. They provide improved performance for small firms. C. They provide stronger leadership and improved performance. D. They provide improved performance but lack leadership. E. They provide improved​ leadership, but performance is unstable.

C. They provide stronger leadership and improved performance.

New retail forms continue to emerge.​ However, different types of retailers are increasingly serving similar customers with the same products and prices​ (retail convergence), making​ __________ more difficult. A. distribution B. logistics C. differentiation D. targeting E. positioning

C. differentiation

A company can use​ _________ by setting a low initial price to penetrate the market deeply and win a large market share. A. market-skimming pricing B. cost-plus pricing C. market-penetrating pricing D. discount pricing E. profitability pricing

C. market-penetrating pricing

Companies have to think carefully when considering price changes. They must consider which of the​ following? A. Investor reactions B. Sales and marketing reactions C. Management reactions D. Buyer and competitor reactions E. Research and development reactions

D. Buyer and competitor reactions

Which of the following statements regarding marketing logistics is NOT​ TRUE? A. It focuses on managing​ value-added flows between​ suppliers, the​ company, resellers, and final users. B. It involves the entire supply chain management. C. No logistics system can both maximize customer service and minimize distribution costs. D. Companies are placing less emphasis on logistics and more on constraining costs. E. Logistics involve inbound​ logistics, outbound​ logistics, and reverse logistics.

D. Companies are placing less emphasis on logistics and more on constraining costs.

To successfully implement a​ market-skimming strategy for a new​ product, which of the following conditions needs to be​ present? A. The quality level of the product does not match the higher price. B. Buyers are not willing to pay the higher price. C. The company objective is to attract a large number of buyers quickly. D. Competitors are not able to enter the market quickly and undercut the high price. E. The company objective is to initially gain a large market share.

D. Competitors are not able to enter the market quickly and undercut the high price.

Price ceilings are set by customer perception. Which of the following sets the floor for the price that a company​ charges? A. Market conditions B. Customers C. Competitors D. Revenue projections E. Costs

E. Costs

Which of the following statements about major retail trends is NOT​ true? A. Retailers have now adjusted to the new economic realities. B. Major retailers are expanding globally. C. Differentiation is now more difficult. D. There is a continued rise of megaretailers. E. The green movement has not quite taken hold.

E. The green movement has not quite taken hold.

When companies treat customers fairly and make certain they understand pricing and pricing​ terms, this leads to​ ________________. A. fewer returns and refunds B. greater perceived value on the​ customer's part C. a pathway for the acceptance of future price increases D. enhanced profitability E. building strong and lasting customer relationships

E. building strong and lasting customer relationships

In determining the number of channel​ intermediaries, there are three strategies available. These are​ _________________. A. intensive, exclusive, and​ in-between distribution B. intensive, exclusive, and convenience distribution C. intensive, selective, and​ value-added distribution D. selective, exclusive, and online distribution E. intensive, exclusive, and selective distribution

E. ​intensive, exclusive, and selective distribution

A company may use the promotion​ mix, also called its marketing communications​ mix, to​ ______________________. A. engage​ customers, persuasively communicate customer​ value, and build customer relationships This is the correct answer. B. engage​ customers, maintain customer​ relationships, and build customer relationships C. persuasively communicate customer​ value, engage​ customers, and sell goods and services D. engage customers and sell goods and services E. create customer​ value, engage​ customers, and build customer relationships

A. engage​ customers, persuasively communicate customer​ value, and build customer relationships

Ideally, integrated marketing communications should achieve which of the​ following? A. Deliver a​ clear, consistent, and compelling company and brand message. B. Use only newer digital technologies to communicate with consumers. C. Deliver different brand messages over different communication channels. D. Allow different company departments to send different brand messages. E. Deliver a hodgepodge of brand content to consumers.

A. Deliver a​ clear, consistent, and compelling company and brand message.

Retailers always search for new marketing strategies to attract and hold customers. The major marketing decisions they face are​ _______________________. A. segmentation and​ targeting, store differentiation and​ positioning, and the retail marketing mix B. segmentation and​ targeting, store​ location, and the retail marketing mix C. store​ differentiation, targeting, and the retail marketing mix D. store​ differentiation, positioning, and the retail marketing mix E. segmentation and​ targeting, differentiation, and the retail marketing mix

A. segmentation and​ targeting, store differentiation and​ positioning, and the retail marketing mix

Another price adjustment strategy is​ ______________ pricing, where the company sells a product at two or more prices to accommodate different​ customers, product​ forms, locations, or times. A. segmented B. geographical C. dynamic D. promotional E. psychological

A. segmented

The typical personal selling process consists of seven specific steps. The steps in the selling process are​ ________. The aim is to help salespeople close a specific sale with a customer. A. transaction oriented B. goal oriented C.revenue oriented D.relationship oriented E. sales quota oriented

A. transaction oriented

For​ services, there is a form of​ captive-product pricing known as​ _____ pricing. A.two-part B. by-product C. product line D. product bundle E. optional-product

A.two-part

Which of the following describes a​ just-in-time logistics​ system? A. Just-in-time logistics systems allow producers and retailers to carry large amounts of inventory. B. Just-in-time logistics systems allow producers and retailers to carry small inventories to last for only a few days of operations. C. Just-in-time logistics systems eliminate the need for forecasting. D. Just-in-time logistics systems greatly increase​ inventory-carrying and​ inventory-handling costs. E. Just-in-time logistics systems ensure that new stock arrives at least one week before it is needed.

B. Just-in-time logistics systems allow producers and retailers to carry small inventories to last for only a few days of operations.

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. Market-penetration pricing C. Market-skimming pricing D. Optional-product pricing E. By-product pricing

B. Market-penetration pricing

​____________________ addresses not only outbound​ logistics, but also inbound logistics and reverse logistics. A. Nonphysical distribution B. Marketing logistics C. Manufacturing logistics D. Marketing and sales logistics E. Transportation logistics

B. Marketing logistics

​_____________________ must be closely coordinated for maximum campaign effectiveness. A. Budget decisions and media decisions B. Message decisions and media decisions C. Budget decisions and message decisions D. Objectives and evaluation E.Objectives and message decisions

B. Message decisions and media decisions

​______ means integrating all available shopping channels and devices into a seamless customer shopping experience. A. Shopper marketing B. Omni-channel retailing C. Green retailing D. Retailing E. Wholesaling

B. Omni-channel retailing

Of the​ following, which is NOT one of the​ product-mix pricing​ situations? A. Optional-product pricing Your answer is not correct. B. Penetration pricing C. Product bundle pricing D. Captive-product pricing E. Product line pricing

B. Penetration pricing

The need for​ omni-channel retailing is a result of​ _______. A. green retailing B. omni-channel buying's C. megaretailers D. retail convergence E. category killers

B. omni-channel buying

Pricing strategies usually change as a product passes through its life cycle but are especially challenging during the​ _______ stage. A. growth B. relaunch C. introductory D. decline E. maturity

C. introductory

Of product and services​ assortment, price,​ promotion, and​ place, which plays one of the most important roles in aligning target markets and​ positioning? A. Price B. Services assortment C. Place D. Promotion E. Product assortment

C. Place

Press​ releases, sponsorships,​ events, and web pages are tools used by which element of the promotion​ mix? A. direct and digital marketing B. personal selling C. sales promotion D. public relations E. advertising

D. public relations

Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this​ represent? A. Contractual VMS B. Franchise C. Conventional distribution channel D. Administered vertical marketing system​ (VMS) E. Corporate VMS

D. Administered vertical marketing system​ (VMS)

Of the​ following, which is core element of our​ free-market economy? A. Uniform pricing regulations B. Price cuts C. Free trade D. Price competition E. Cost controls

D. Price competition

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

D. overall marketing​ strategy, objectives, marketing​ mix, and other organizational considerations

​Omni-channel retailing requires carefully integrating​ _____________ from discovery to purchase in the buying process. A. physical stores and online shopping B. online shopping with social media C. different physical store locations D. the entire range of available shopping channels E. physical stores with social media

D. the entire range of available shopping channels

External factors when considering pricing include​ ________________________________ such as the​ economy, reseller​ needs, and government actions. A. demand and environmental factors B. nature of the market and environmental factors C. domestic​ demand, nature of the​ market, and environmental factors D. global​ demand, nature of the​ market, and environmental factors E. the nature of the market and demand and environmental factors

E. the nature of the market and demand and environmental factors

_____________________ are the five promotion mix tools used by marketers to communicate customer value. A. Television​ advertising, radio​ advertising, online​ advertising, social media​ advertising, and outdoor advertising B. Advertising, business-to-business​ selling, personal​ selling, sales​ promotion, and direct and digital marketing C. Product, price,​ place, promotion, and advertising D. Advertising, public​ relations, personal​ selling, sales​ promotion, and telemarketing E. Advertising, public​ relations, personal​ selling, sales​ promotion, and direct and digital marketing

E. ​Advertising, public​ relations, personal​ selling, sales​ promotion, and direct and digital marketing

What are the four major functions of​ logistics? A. Warehousing, inventory​ management, transportation, and retailing B. Retailing, inventory​ management, transportation, and logistics information management C. Inventory​ management, transportation,​ shipping, and warehousing D. Warehousing, inventory​ management, retailing, and logistics information management E. Warehousing, inventory​ management, transportation, and logistics information management

E. Warehousing, inventory​ management, transportation, and logistics information management

​Omni-channel retailing goes beyond just helping​ in-store customers as they​ cross-shop on mobile devices and requires​ _________________________. A. careful​ targeting, differentiation, and positioning B. extra attention to product​ assortment, store​ atmosphere, and price C. integration of product​ assortment, services​ mix, and price D. carefully integrating all elements of the marketing mix to maximize value E. carefully integrating the entire range of available shopping channels

E. carefully integrating the entire range of available shopping channels

Channels often involve​ long-term commitments, and companies have many alternatives. Each alternative should be evaluated against three general criteria. What are​ these? A. economic, control, and profitability B. profitability, sales, and costs C. adaptability, control, and sales D. economic, control, and adaptability E. economic, adaptability, and profitability

​D. economic, control, and adaptability

A​ company's total promotion​ mix, also called its marketing communications​ mix, consists of the specific blend of five​ tools: _________________________. A. advertising, personal​ selling, sales​ promotion, public​ relations, and direct and digital marketing tools B. advertising, sales​ promotion, public​ relations, special​ events, and direct and digital marketing tools C. advertising, personal​ selling, sales​ promotion, trade​ relations, and direct and digital marketing tools D. advertising, direct​ selling, sales​ promotion, public​ relations, and direct and digital marketing tools E. advertising, personal​ selling, sales​ promotion, public​ relations, and direct marketing tools

A. ​advertising, personal​ selling, sales​ promotion, public​ relations, and direct and digital marketing tools

Value-based pricing begins with analyzing​ ___________. A. Consumer needs and value perceptions B. Internal costs and value perceptions C. Market needs and​ competitors' prices D. Product attributes and product perceptions E. product attributes and product features

A. Consumer needs and value perceptions

Marketing channels perform many key functions. Which of the following is NOT one of those key​ functions? A. Manufacturing B. Contact work C. Assuming risks of carrying out channel work D. Fulfilling completed transactions E. Helping to complete transactions

A. Manufacturing

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

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

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

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

The only reason for a wholesaler to exist is to​ ___________________ by increasing the efficiency and effectiveness of the entire marketing channel. A. add value B. eliminate marketing costs C. facilitate distribution D. lower logistical costs E. replace a sales team

A. add value

Depending on the type of​ promotion, a marketer develops and implements the sales promotion program by using three key promotion tools. These are ​__​____________. A. consumer promotion tools​, trade promotion​ tools, or business promotion tools B. consumer promotion​ tools, trade promotion​ tools, or retail promotion tools C. consumer promotion tools​, internal promotion tools​, or business promotion tools D. trade promotion​ tools, special event​ tools, or business promotion tools E. business promotion​ tools, trade promotion​ tools, or advertising promotion tools

A. consumer promotion tools​, trade promotion​ tools, or business promotion tools

The seven price adjustment strategies are​ _____, ______,​ _____, promotional​ pricing, geographical​ pricing, dynamic​ pricing, and international pricing. A. discount and allowance​ pricing, segmented​ pricing, psychological pricing B. discount and allowance​ pricing, segmented​ pricing, product bundle pricing C. discount and allowance​ pricing, segmented​ pricing, market-skimming pricing D. discount and allowance​ pricing, segmented​ pricing, penetration pricing E. product line​ pricing, optional-product​ pricing, captive-product pricing

A. discount and allowance​ pricing, segmented​ pricing, psychological pricing

When selecting​ intermediaries, the company should evaluate each channel​ member's years in​ business, other lines​ carried, location,​ _______________________. A. growth and profit​ record, cooperativeness, and reputation B. management​ team, cooperativeness, and reputation C. profit​ record, cooperativeness, and reputation D. growth​ record, profit​ record, and reputation E. growth and profit​ record, cooperativeness, and company size

A. growth and profit​ record, cooperativeness, and reputation

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. intensive, exclusive, and selective B. intensive, selective, and targeted C. intensive, exclusive, and global D. open, closed, and franchise E. targeted, segmented, and global

A. intensive, exclusive, and selective

Because​ today's consumers shift seamlessly across​ channels, many online​ retailers, including​ Amazon, are moving​ _______. A. into the physical world This is the correct answer. B. toward a global presence C. into offering groceries D. away from an online presence E. into the virtual world

A. into the physical world

The​ firm's PR should be blended smoothly with other promotion activities within the​ company's ____________________. A. overall integrated marketing communications effort This is the correct answer. B. advertising and sales promotion efforts C. media and digital marketing strategy efforts D. overall marketing plan E. overall strategic plan

A. overall integrated marketing communications effort

Most companies see their intermediaries as​ first-line customers and partners. They practice strong​ _____________________ management to forge​ long-term partnerships with channel members. A. partner relationship B. supply chain C. marketing D. channel E. sales relationship

A. partner relationship

Federal legislation on​ _________states that sellers must set prices without talking to competitors. A. price-fixing B. price discrimination C. retail price maintenance D. deceptive pricing E. predatory pricing

A. price-fixing

Personal selling involves a​ multiple-step process. The first step is​ ______________ and the last step is​ _______________________. A. prospecting and​ qualifying; follow-up Your answer is correct. B. approach; follow-up C. presentation and​ demonstration; closing D. preapproach; handling objections E. approach; closing

A. prospecting and​ qualifying; follow-up

Major retail trends and developments include the rise of megaretailers and rapid growth of​ direct, online,​ mobile, and social media retailing. Other trends include​ __________________. A. the growing importance of retail​ technology, a surge in green​ retailing, and the global expansion of major retailers B. the growing importance of retail​ technology, general surge in​ retailing, and global expansion of major retailers C. a surge in green​ retailing, new supply chain management​ methods, and global expansion of major retailers D. the growing importance of retail​ technology, global expansion of major​ retailers, and international marketing E. the growth of retail​ technology, global expansion of major​ retailers, and international trade

A. the growing importance of retail​ technology, a surge in green​ retailing, and the global expansion of major retailers

The second step of channel design is the identification of the major channel alternatives in terms of the​ _________________. A. types of​ intermediaries, number of​ intermediaries, and the channel responsibilities of each member This is the correct answer. B. types and number of intermediaries C. types of intermediaries D. identification of channel intermediary responsibilities E. the identification of types of intermediaries and assignment of responsibilities

A. types of​ intermediaries, number of​ intermediaries, and the channel responsibilities of each member

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

B. Social selling

Which of the following statements is true regarding the promotion​ mix? A. Sales promotions are​ long-term incentives to encourage the purchase or sale of a product or service. B. The entire marketing mix must be coordinated for greatest impact. C.Personal selling is not used to engage customers. D. Direct and digital marketing cannot be used to target individual consumers. E. Advertising is a personal form of marketing communication

B. The entire marketing mix must be coordinated for greatest impact.

In​ general, sales promotion campaigns should​ ______________________. A. offer buyers​ long-term incentives to purchase a good or service B. be customer relationship building C. only be used on social media D. be used without additional advertising support E. only be offered to consumers

B. be customer relationship building

Sales promotion campaigns call for setting sales promotion objectives. In​ general, sales promotions should be ​________. A. service oriented B. consumer relationship building C. business relationship building D. product oriented E. sales-generation vehicles

B. consumer relationship building

In managing its​ channels, a company must convince suppliers and distributors that they can succeed better by working together as​ _______________. A. part of an integrated distribution network B. part of a cohesive value delivery system This is the correct answer. C. part of an integrated system D. trusted channel partner E. part of an integrated delivery system

B. part of a cohesive value delivery system

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

B. rebates, coupons, price​ packs, and samples

After determining the type of promotion to​ use, marketers then must decide on the​ _______ and the​ ______. A. amount of push​ money; type of free goods B. size of the​ incentive; conditions for participation C. size of the​ incentive; consumer promotion D. trade​ promotion; size of the incentive E. consumer​ promotion; trade promotion

B. size of the​ incentive; conditions for participation

The​ fastest-growing sales trend is the explosion in​ ________, which is using​ online, mobile, and social media in selling. A. ​e-commerce B. social selling C. online selling D. social media selling E. mobile selling

B. social selling

Retailers must decide on three major product​ variables: product​ assortment, services​ mix, and​ _________. A. location B. store atmosphere C. segmentation and targeting D. promotion E. price

B. store atmosphere

It is important that retailers select locations that are accessible to the target market in areas that are consistent with the​ _____________________. A. retailer's retail marketing mix B. retailer's positioning C. retailer's distribution hubs D. population patterns E. retailer's differentiation

B. ​retailer's positioning

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

C. Adopt the concept of integrated marketing communications

The three major pricing strategies are​ ______. A. ​perception-based pricing, customer​ value-based pricing, and​ cost-based pricing B. cost-plus pricing,​ cost-based pricing, and​ competition-based pricing C. customer​ value-based pricing,​ cost-based pricing, and​ competition-based pricing D. cost-based pricing,​ competition-based pricing, and skimming E. penetration​ pricing, competition-based​ pricing, and customer​ value-based pricing

C. Customer​ value-based pricing,​ cost-based pricing, and​ competition-based pricing

ReviewQuiz Me:Quiz Me: 10.3 Identify the major channel alternatives open to a company. Question 3, Study Plan 10.3.2 Test Score: 40%, 2 of 5 points Points: 1 of 1 Close ​______________ begins with analyzing consumer needs and setting channel objectives. A. Motivating channel members B. Marketing channel management C. Marketing channel design D. Marketing channel responsibility E. Selecting channel members

C. Marketing channel design

At which stage in the selling process does a salesperson attempt to learn as much as possible about the organization​ (what it​ needs, who is involved in the​ buying) and its buyers​ (their characteristics and buying​ styles)? A. Approach B. Presentation and demonstration C. Preapproach D. Handling objections E. Prospecting and qualifying

C. Preapproach

Public relations involves building good relations with the​ company's various publics. What are all of the functions it​ includes? A. Press​ agency, product​ publicity, lobbying, investor​ relations, and development B. Press​ agency, product​ publicity, government​ relations, public​ affairs, lobbying, investor​ relations, and development C. Press​ agency, product​ publicity, public​ affairs, lobbying, investor​ relations, and development D. Press​ agency, product​ publicity, crisis​ management, public​ affairs, lobbying, investor​ relations, and development E. Product​ publicity, public​ affairs, lobbying, investor​ relations, and development

C. Press​ agency, product​ publicity, public​ affairs, lobbying, investor​ relations, and development

Beyond the market and the​ economy, what other factors in its external environment must a company consider when setting​ prices? A. The​ company's overall marketing strategy and selecting target markets B. Who within the organization should set prices and whether or not to have a pricing department C. Resellers, the​ government, and social concerns D. Setting prices to attract new customers and setting prices to prevent competitors from entering the market E. The​ company's overall marketing strategy and marketing mix

C. Resellers, the​ government, and social concerns

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

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

One form of​ ______ involves bogus reference or comparison​ prices, as when a retailer sets artificially high​ "regular" prices and then announces​ "sale" prices close to its previous everyday prices. A. retail price maintenance B. price discrimination C. deceptive pricing D. predatory pricing E. price-fixing

C. deceptive pricing

Firms seeking immediate response from targeted individual consumers and consumer communities use​ ______________________ marketing tools to engage consumers and cultivate relationships with them. A. personal​ selling, advertising, and sales promotion B. direct marketing C. direct and digital D. advertising, sales​ promotion, and public relations E. advertising and sales promotion

C. direct and digital

A company may use the promotion​ mix, also called its marketing communications​ mix, to​ ______________________. A. persuasively communicate customer​ value, engage​ customers, and sell goods and services B. engage​ customers, maintain customer​ relationships, and build customer relationships C. engage customers and sell goods and services D. engage​ customers, persuasively communicate customer​ value, and build customer relationships This is the correct answer. E. create customer​ value, engage​ customers, and build customer relationships

C. engage customers and sell goods and services

By practicing​ ______, today's retailers are increasingly adopting environmentally sustainable practices. A. mobile retailing B. retail convergence C. green retailing D. megaretailing E. social media retailing

C. green retailing

These​ days, shopper marketing influences​ consumers' buying decisions and calls for​ omni-channel retailing, creating a seamless​ cross-channel buying experience that integrates​ __________________ shopping. A. online​ media, social​ media, and traditional media B. in-store, special​ event, online, and mobile C. in-store, online, and mobile D. primarily online and mobile E. in-store and online

C. in-store, online, and mobile

The​ ____________ concept recognizes that improved logistics requires teamwork in the form of close working relationships across functional areas inside the company and across various organizations in the supply chain. A. outbound logistics B. reverse logistics C. integrated supply chain management D. supply chain management E. inbound logistics

C. integrated supply chain management

The sales force sells products by engaging​ customers, presenting its​ offerings, answering​ objections, negotiating prices and​ terms, closing​ sales, servicing​ accounts, and​ ________. A. maintaining vendor relationships B. maintaining manufacturing relationships C. maintaining account relationships D. meeting revenue goals E. handling customer service complaints

C. maintaining account relationships

Intermediaries are used by most producers to bring products to market. These intermediaries are known as​ _________________________. A. contract manufacturers B. retail partners C. marketing channels D. offshore manufacturing partners E. logistics companies

C. marketing channels

In most​ cases, a company is not simply seeking a sale.​ Rather, the company wants to engage the customer over the long haul in a​ ________. A. mutually innovative relationship B. profitable relationship for the customer C. mutually profitable relationship D. profitable relationship for the company E. mutual agreement for product development

C. mutually profitable relationship

Other functions of marketing channel members include helping to fulfill the completed transactions by offering​ ____________________________. A. physical​ distribution, invoicing, and risk taking B. negotiating, physical​ distribution, and risk taking C. physical​ distribution, financing, and risk taking D. land and sea​ transportation, financing, and risk taking E. physical​ distribution, financing, and delivery

C. physical​ distribution, financing, and risk taking

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. Established brands have no trouble finding and keeping qualified channel members. C. Producers vary in their ability to attract qualified marketing intermediaries. D. Firms select only qualified channel members in their immediate geographical area. E. Selecting qualified channel members is largely controlled by government regulation.

C. producers vary in their ability to attract qualified marketing intermediaries.

Like​ retailers, wholesalers must​ _____________________________. A. target​ carefully, segment, and position themselves effectively B. target​ carefully, differentiate, and position themselves effectively C. segment and target​ carefully, differentiate, and position themselves effectively D. segment and target​ carefully, advertise​ regularly, and position themselves effectively E. differentiate, target, and position themselves effectively

C. segment and target​ carefully, differentiate, and position themselves effectively

Advertisers should first​ ______________ to determine whether the advertising is supposed to​ inform, persuade, or remind buyers. A. define types of analytics B. carefully plan media C.set clear objectives D. develop clear standards for messaging E. set firm media budgets

C. set clear objectives

Other internal factors that influence pricing decisions include​ ____________. A. the​ company's overall sales​ strategy, objectives, and marketing​ mix, as well as organizational considerations B. the​ company's overall sales​ strategy, revenue​ objectives, and marketing​ mix, as well as organizational considerations C. the​ company's overall marketing​ strategy, objectives, and marketing​ mix, as well as organizational considerations D. the​ company's overall pricing​ strategy, objectives, and marketing​ mix, as well as organizational considerations E. the​ company's overall marketing​ strategy, objectives, and marketing mix

C. the​ company's overall marketing​ strategy, objectives, and marketing​ mix, as well as organizational considerations Your answer is correct.

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

C.interpersonal

Which of the following sets of characteristics correctly classifies​ retailers? A. Amount of service​ offered, breadth and depth of product​ lines, relative prices they​ charge, and store size B. Amount of service​ offered, the relative prices they​ charge, target​ customers, and store size C. Breadth and depth of product​ lines, relative prices they​ charge, location of the​ store, and store size D. Amount of service​ offered, the breadth and depth of product​ lines, relative prices they​ charge, and how they are organized E. Location of the​ store, relative prices they​ charge, target​ customers, and store size

D. Amount of service​ offered, the breadth and depth of product​ lines, relative prices they​ charge, and how they are organized

In setting its overall pricing​ strategy, companies need to consider three​ factors: ______,​ ______, and​ ______. A. Domestic customer purchasing​ habits, costs, and the​ company's pricing strategies B. Customer perceived​ value, costs, and the​ company's pricing strategies C. Customer perceived​ value, vendor perceived​ value, and​ competitors' pricing strategies D. Customer perceived​ value, costs, and​ competitors' pricing strategies E. Customer purchasing​ habits, costs, and​ competitors' pricing strategies

D. Customer perceived​ value, costs, and​ competitors' pricing strategies Your answer is correct.

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

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

Retail stores come in all shapes and​ sizes, and new retail types keep emerging. Store retailers can be classified by​ ______________. A. full-service, specialty, and discount stores B. specialty​ stores, department​ stores, and service businesses C. self-service and​ full-service stores D. amount of​ service, product line​ sold, relative​ prices, and how they are organized E. full-price, discount, and​ off-price retailers

D. amount of​ service, product line​ sold, relative​ prices, and how they are organized

To ensure channel​ success, all channel firms should understand and accept their​ roles, _________________. A. coordinate their​ goals, and cooperate to attain overall channel goals B. coordinate their goals and​ activities, and cooperate to attain overall sales goals C. establish ways to cooperate to attain overall channel​ goals, and jointly promote products D. coordinate their goals and​ activities, and cooperate to attain overall channel goals E. coordinate​ activities, and cooperate to attain overall channel goals

D. coordinate their goals and​ activities, and cooperate to attain overall channel goals

The three major groups of wholesalers are​ ________. A. merchant​ wholesalers, brokers and​ agents, and​ full-service wholesalers B. merchant​ wholesalers, brokers and​ agents, and wholesale clubs C. merchant​ wholesalers, full-service​ wholesalers, and​ limited-service wholesalers D. merchant​ wholesalers, brokers and​ agents, and​ manufacturers' and​ retailers' branches and offices E. merchant​ wholesalers, wholesale​ clubs, and​ big-box stores

D. merchant​ wholesalers, brokers and​ agents, and​ manufacturers' and​ retailers' branches and offices

New digital and social media have given birth to a​ _________________________. A. less​ targeted, social, and engaging marketing communications model B. more​ targeted, social, and engaging marketing model C. more​ targeted, social, and less engaging marketing communications model D. more​ targeted, social, and engaging marketing communications model E. less targeted and engaging communications model

D. more​ targeted, social, and engaging marketing communications model

As with the other promotion​ tools, in considering when and how to use product public​ relations, the best thing management should do is​ ______________________. A. choose the PR messages and​ vehicles, plan​ media, implement the PR​ plan, and evaluate the results B.set PR​ objectives, choose the PR​ messages, implement the PR​ plan, and evaluate the results C. set PR​ objectives, choose the PR vehicles and social​ media, implement the PR​ plan, and evaluate the results D. set PR​ objectives, choose the PR messages and​ vehicles, implement the PR​ plan, and evaluate the results E. set PR​ objectives, choose the PR messages and​ vehicles, implement the PR​ plan, and evaluate the results in terms of return on investment

D. set PR​ objectives, choose the PR messages and​ vehicles, implement the PR​ plan, and evaluate the results

Which of the following statements is correct regarding marketing communications​ today? A. Advertisers are adopting less fragmented media and promotion mixes to reach their diverse markets. B. Most marketers do not use integrated marketing communications tools or planning. C. Marketers are reversing a trend toward digital media. D. Digital and social media have given birth to a more​ targeted, more​ social, but less engaging marketing communications. E. Advertisers are now able to engage smaller customer segments with more​ personalized, interactive content

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

Which of the following statements is true regarding channel​ organization? A. Once a channel is organized and​ set, it rarely changes. B. In a​ well-organized channel, conflicts rarely occur. C. Channel members should act alone in their own​ short-run best interests before considering the interests of other channel members. 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.

Which of the following correctly describes​ omni-channel retailing? A. Selling products online environments B. Allowing one supplier to sell to multiple retailers through multiple channels C. Developing close partnerships between wholesalers and retailers D. Setting up franchises in different locations with seamless delivery of integrated services E. Creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping

E. Creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping

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

E. Customer​ value-based pricing,​ cost-based pricing, and​ competition-based pricing

High sales force costs necessitate an effective sales management process consisting of which of the following​ steps? A. Designing sales force structure and recruiting and​ selecting, training,​ compensating, supervising, and evaluating the​ firm's salespeople. B. Designing sales force strategy and recruiting and​ selecting, training,​ compensating, supervising, and evaluating the​ firm's salespeople. C. Designing sales force strategy and structure and​ selecting, training,​ compensating, supervising, and evaluating the​ firm's salespeople. D. Designing sales force strategy and structure and recruiting and​ selecting, compensating,​ supervising, and evaluating sales force performance. E. Designing sales force strategy and structure and recruiting and​ selecting, training,​ compensating, supervising, and evaluating the​ firm's salespeople.

E. Designing sales force strategy and structure and recruiting and​ selecting, training,​ compensating, supervising, and evaluating the​ firm's salespeople.

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

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

Which of the following is true regarding the​ price-demand relationship? A. Demand and price are directly related—the higher the​ price, the greater the demand. B. A demand curve shows the number of units a company will produce in a given time period at different prices that might be charged. C. If demand is​ inelastic, a small change in price will result in a large change in demand. D. Price elasticity measures how responsive price will be to a change in demand. E. If demand is​ elastic, sellers will consider lowering their prices.

E. If demand is​ elastic, sellers will consider lowering their prices.

How do companies apply pricing strategies to accommodate differences in customer segments and​ situations? A. They create price allowance pricing strategies. B. They use selective promotional pricing strategies. C. They focus on segmented pricing strategies. D. They use accommodations such as preferred pricing strategies. E. They apply a variety of price adjustment strategies.

E. They apply a variety of price adjustment strategies.

Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and​ customers? A. Transportation B. Financing C. Risk bearing D. Buying and assortment building E. Warehousing

E. Warehousing

The major steps in advertising media selection are​ (1) __________;​ (2) choosing among major media​ types; (3) selecting specific media​ vehicles; and​ (4) choosing media timing. A. calculating advertising return on investment B. determining the advertising budget C. determining the execution style D. setting the advertising objectives E. determining​ reach, frequency,​ impact, and engagement

E. determining​ reach, frequency,​ impact, and engagement

With companies becoming more​ market-oriented, the sales force plays a key role in​ ________ and​ __________________________. A. creating​ revenue; developing and managing the manufacturing functions B. acting as the customer service​ department; developing and managing profitable customer relationships C. engaging​ customers; helping the company reach revenue goals D. engaging​ customers; marketing logistics E. engaging​ customers; developing and managing profitable customer relationships

E. engaging​ customers; developing and managing profitable customer relationships

Companies use​ ______ to bring together their many communication channels to deliver a​ clear, consistent, and compelling message about the organization and its brands. A. in-depth program and project management B. integrated social media communications C.integrated digital and social media communications D.thoroughly​ planned, coordinated, and executed media buys E.integrated marketing communications​ (IMC)

E. integrated marketing communications​ (IMC)

New major trends and developments in retailing include​ ___________________. A. shortening retail life​ cycles, lengthening retail life​ cycles, and retail convergence B. new retail​ forms, shortening retail life​ cycles, and​ business-to-business convergence C. new retail​ forms, new​ business-to-business forms, and retail convergence D. the rise of social​ media, shortening retail life​ cycles, and retail convergence E. new retail​ forms, shortening retail life​ cycles, and retail convergence

E. new retail​ forms, shortening retail life​ cycles, and retail convergence

The illegal practice of selling below cost to harm competitors is known as​ ______. A. price discrimination B. deceptive pricing C. retail price maintenance D. price-fixing E. predatory pricing

E. predatory pricing

When evaluating channel member​ performance, companies use standards such as​ _______, ______,​ _____, treatment of damaged and lost​ goods, cooperation in company promotion and training​ programs, and services to the customer. A. sales​ quotas, average inventory​ levels, profitability B. sales​ quotas, average inventory​ levels, customer satisfaction surveys C. sales​ quotas, costs, customer delivery time D. average​ sales, average inventory​ levels, customer delivery time E. sales​ quotas, average inventory​ levels, customer delivery time

E. sales​ quotas, average inventory​ levels, customer delivery time

Guided by​ ___________________, retailers must decide on a retail marketing mix—product and services​ assortment, price,​ promotion, and place. A. strong differentiation and pricing B. strong targeting and differentiation C. strong positioning and differentiation D. strong positioning and products and services assortment E. strong targeting and positioning

E. strong targeting and positioning

Companies often divide sales responsibilities along three lines. These are a​ _____, _____, or​ ____ sales force​ structure, which can also be combined. A. territorial, product, global B. product, customer, global C.territorial, customer, client D. product, customer,​ performance-based E.territorial, product, customer

E. territorial, product, customer

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. company; relationship B. relationship; transactional C. transactional; profit D. profit; relationship E.transactional; relationship

E. transactional; relationship