MARKETING FINAL KAHOOT
1) marketing communication captures interest of its target market 2) move the consumer from
"I like it" to "I want it"
Room rental: $100, VC=$20, FC=$100,000. Profit last year=$20,000. BEP is:
1,250
Price is $100, VCs is $20, FC is $100,000, annual profit is $20,0000. The contribution per unit
80
FC=$10,000, Sales Price=$60, VC=$20, break even is:
250 units
(T/F) rarely is the lowest-price product offering the dominant brand in a given market
True
(T/F) Gross rating points (GRP) measures how often audience is exposed within specified period of time
False
(T/F) brands that have developed loyal customers have a higher price elasticity of demand.
False
Which is not a characteristic of products in the maturity stage of product life cycle?
Laggards are a major focus of marketing efforts
The growth phase is always dynamic. Which of the following does not occur in this phase
Price competition with protracted price wars erodes profits
(T/F) For market penetration pricing to work, the product must be perceived as ground-breaking
false
As # of communication media has increased, understanding how best to reach target customers has
become more complex
a few customers are asked to try out a new video game that has not yet been released yet
beta testing
An advantage of Internet-based technologies is they
can be directed to a specific consumer
Which of the following is not one of the the five Cs of pricing? cost channel members company objectives collaboration
collaboration
The basic goal of integrated marketing communications is to
communicate the value proposition to the target market
Sally wants to start a lemonade stand. She calculates she needs 75 glasses at $6/glass
consumer demand
the more substitutes that exist in a market
consumers more sensitive to changes in price of a product
(T/F) Skimming strategy tends to be effective in p-sensitive market because discourage comp entering market
false
in integrated marketing communications, encoding involves
converting the sender's ideas into a message
(T/F) the 1st group of buyers who want to be the first with new product is known as early adopters
false
Firms either position themselves for a niche market of loyal consumers or they exit the market
decline
If the price for a product increases, the demand for the complementary product will
decrease
the process by which the use of a new product or service spreads throughout a market group is
diffusion of innovation
Recent years, the component of IMC that received the greatest increase in aggregate spending is
direct marketing
few new products can be products can be profitable until this large group buys them
early majority
Break-even analysis is useful because it allows managers to
estimate quantity need to sell at given price to break even
pure competition: firms competing for customers in a market with differentiated products
false
sales, complaints, etc. are types of ________ marketers use to assess the effectiveness
feedback
10% increase in price of cigarettes resulted in a 2% decrease in Q demanded: _______________ price elasticity
inelastic
the main objective is to generate consumer awareness and motivate consumers to try the product
introduction phase
_____________ pricing tactics lower the price of a product below the store's cost
loss leader
name the most common reason why new products fail
no discernible benefits
a demand curve shows the relationship between __________ in a period of time
price and demand
if a new product concept get positive evaluations during concept testing, next step for firm:
product development
everyday low pricing (EDLP) provides value to consumers by
reducing their search costs
inkjet printers gained rapid acceptance in the marketplace primarily because of their
relative advantage
___________ taking apart and creating an improved product that doesn't infringe on competitor's patents
reverse engineering
Increase a business's local market share from 15 to 30 percent. They're using what orientation
sales
integrated marketing communications include all of the following except
supply chain management
company wants 20% return on investments for all sales. They're using what pricing strategy?
target return
McDonald's often markets new products in select outlets. When they do this, they are engaged in
test marketing
because there are many firms in monopolistic competition markets,
the many competitors will focus on product differentiation
the sender of an IMC message hopes the receivers are
the people for whom the message was originally intended
the IMC process begins with _____________, who (which) must be clearly identified
the sender
In simple terms, the AIDA model is also known as the ____________ model
think, feel, do
that highest level of awareness occurs when customers mention a specific brand name re: product
top-of-mind awareness
Zappos.com, an online shoe store, offers an easy, no-hassle return procedure. This relates to
trialability
(T/F) A high/low pricing strategy relies on promotion of sales. lower prices to encourage purchases
true
(T/F) the introduction stage of the product life cycle is characterized by negative or low profits
true