Marketing finallllssss

What equation shows organizations the relationship between price and profit?

(Price × Quantity Sold) Total Costs = Profits

If a company increased its price from $100 to $120 and the percentage change in quantity demanded was 40 percent, the price elasticity of demand for this product is

-2

Under armor maintains a good deal of control over how it's products are promoted, displayed, and sold. Because of this control under armor would be appropriately described as the channel

Captian

Firestone allows companies like Sears and Discount Tire to distribute and discount its tires. This action significantly increases the possibility of channel ____ with independent Firestone dealers.

Conflict

For firms in the United States, demand curves are

Downward sloping to the right

In the _______, concepts and ideas are converted into signs and symbols by the source

Encoding process

Bow flex uses informecials to demo it's fitness products and encourages customers to call and receive a free video with more info about its products. This promotional effort is directed at

Identifying prospects

Huy Fong Foods markets siracha sauce for household use to supermarkets through grocery wholesalers. It markets siracha for institutional use through industrial distributors and food brokers. Huy Fond is using

Multichannel distribution

Fairmont Austin drops the price of a suite from 264 to 234 per night and experiences a reduction in the quantity of rooms demanded of an average of five per night. This is an indication that suites at this hotel are apparently an example of a(n) _______ product

Prestige

Sonya is a product manager for the container store, a retailer of storage containers, closet systems, and more. Sales have been declining in the past nine months and her management team is pressuring her to compete based on price discounts. However, Sonya is aware of the dangers associated with engaging in price competition. She knows that competitions can also change prices quickly and aggressively, which can result in a (n) ________ that will be harmful to both companies

Price war

Large retailers such as Macy's and Walmart are most likely to participate in which of the following

Producer retailers consumers

I'm episodes of American idol, the judges drinks out of cups featuring the Coca Cola logo. The promotion strategy being used by coke is

Product placement

The supply chain begins with______ and ends with ________

Raw materials and customers

One advantage of nonprice competition is that

a firm can build customer loyalty

The supply chain includes

all entities that facilitate product distribution and benefit from cooperative efforts

If children and teenagers are insisting on wearing expensive name-brand apparel, a criticism of promotion can be made that promotion

encourages materialism

Aaron Whitley's company buys machine tools from large producers and sells them to several Midwestern manufacturing companies. The company Aaron works for carries inventories of the tools, which reduces capital requirements for the producers. Aaron's company is an example of a(n) ____ in a distribution channel.

industrial distributor

convenience products typically use

intensive distribution

Michael is planning a promotional program for AirFam. AirFam is a supplier of new energy-saving engines used to produce air conditioners. His company needs to promote these engines to manufacturers of air conditioners, so he is most likely to use ___, because it provides immediate feedback. The disadvantage is that it is _____ than advertising to reach one customer.

personal selling; more costly

Louis is reading the online report of the tuition and fees he owes for this semester of college. Since he has signed up for online banking, he pays the amount immediately. The amount Louis just paid is considered to be

price

A measure of sensitivity of demand in relation to changes in price is

price elasticity of demand

In many television shows and movies you will see characters using Apple computers and laptops during the show. This promotion strategy is called

product placement

Promotional efforts designed to allow a manufacturer of a seasonal product to operate at peak efficiency year round seek to

reduce sales fluctuations

When a soft drink manufacturer offers digital coupons that customers can use in retail stores, it is using

sales promotion

When Lean Cuisine promotes the quality, taste, and calorie contents of its line of frozen meals, it is attempting to develop

selective demand

Starbucks has an agreement with Pepsi Co. through which Pepsi distributes Starbucks' coffee drink, Frappucino, to grocery stores and other retail outlets. This is an example of

strategic channel alliance

Mary is currently working on updating her company's website, incorporating signs and symbols that will help represent the ideas that the company is trying to express. Mary is most likely working on the _____ for the website.

the coding process

At breakeven point,

the money a company brings in from selling products equals the amount spent producing the products.

Channel decisions are important to marketers mostly because

they involve long-term commitments and affect customer accessibility.

Marginal analysis involves examining

what happens to a firm's costs and revenues when production is changed by one unit.