MKT 300 Final Eaton
Selective distribution
A company chooses multiple retailers to sell their products, but not all retailers that carry this type of product carries this brand. This is an example of: • Franchising distribution. • Selective distribution. • Intensive distribution. • Exclusive distribution.
When demand is relatively inelastic
A skimming pricing strategy tends to be most effective: • When demand is relatively inelastic • In price-sensitive markets • Under unitary conditions • If unit costs are low
Stealth marketing
Also known as undercover marketing, this is an aspect of marketing in which an audience is not aware that they are being marketed to: • Viral marketing • Public marketing • Stealth marketing • Guerilla marketing
Slice-of-life
An advertisement for a regular occurrence such as someone drinking a glass of orange juice in the morning would best be described as which type of message execution? • Lifestyle • Slice-of-life • Spokesperson • Fantasy
Flighting
Car dealership might typically run twenty ads the last week of every month to sour sales to help them meet their strategy quotas but run five ads per week in the other weeks of the month. Their advertising scheduling method would best be described by them: • Pulsing • Flighting • Seasonal • Continuous
Selling against the brand
Carrying well-known brand names that are more expensive than the average brands the store carries so that consumers see a greater price difference between the competing products is one example of: • Unit pricing • Selling against the brand • The exponential innovation strategy • Bait pricing
Advertising messages must be general enough to cover all ages, social classes, and education levels
For marketing communications to be most effective: • All of the promotional mix elements should be utilized • Marketing managers must ensure a proper match between the message to be conveyed and the target market's attitude and ideas • Marketing managers should use both interpersonal and mass communications • Advertising messages must be general enough to cover all ages, social classes, and education levels
Market
Geographic location and customer profiles were examples of which type of factor that affect channel choice? • Product • Distribution intensity • Market • Producer
Substitutes
If a price increase for the first product result in an increase in the second product's sales, the two products are said to be: • Exclusive • Selective • Substitutes • Complement
Skimming pricing strategy
If one's reference price for a year of college tuition is $11,000, then a college charging a significantly lower rate $2,500 per year for tuition is best described as using a: • Status quo pricing strategy • Skimming pricing strategy • Marginal equilibrium pricing strategy • Penetration pricing strategy
Trade promotions
In considering long-term allocations of promotional dollars, where is the most money spent? • Trade promotions. • Consumer sales promotions. • Public relations. • Consumer media advertising.
Decoding
In the communication process, the stage after the message is sent where the analysis and interpretation of the language and symbol sent by the source takes place is best known as: • Noise • Feedback • Decoding • Encoding
A low price and high quality
In the slides we defined a good-value pricing strategy as a product that has: • A high price and low quality • A low price and high quality • A low price and low quality • A high price and high quality
Price product at odd numbered amount to stimulate demand
Leader pricing attempts to: • Price product at odd numbered amount to stimulate demand • Bundle product together for sale • Attract customers to a store so they cab be baited to buy a different, more expensive product from that product category instead. • Attract customers to a store so they will buy other products in addition to the magnet product.
2,000
MKT300 industries sells video games to retailers for$30. Total market demand is 30,000 units. It costs MKT300 industries $20 to make each video game. Markup on the selling price is 33%. The total fixed costs for plant operation is $20,000. How many video games does MKT300 industries need to sell to break even? • 1,000 • 2,000 • 3,000 • 10,000
The increase cost is less than the incremental marginal return
Marginal analysis contends that we should continue to increase advertising spending if: • The increase cost is more than the incremental marginal return • The increase cost is equal to the incremental marginal return • The increase cost is less than the incremental marginal return • The increase cost is less than the cost of guitar hero Metallica
Competitive parity method
Matching the industry average spending on advertising best describes the: • Return on investment method • Percentage of sales method • Arbitrary method • Competitive parity method
Sales that would have taken place regardless of the sales promotion
Of the following which best exemplifies the concept of displaced sales? • Sales that would have taken place regardless of the sales promotion • Sales that were the result of purchases by non-regular buyer • Sales that occurred because sales displays were located next to the product on sale • Sales that occurred as the result of the sales promotion building traffic in the store
Public relations
Of the following, which element of the promotional mix offers the least control over its message content? • Sales promotions • Personal selling • Public relations • Advertising
RFM identifies how recently and frequently customers need to see an advertisement to make an impact on their behavior
Of the following, which is least accurate about using a Recency-Frequency-Monetary (RFM) CRM analysis? • RFM identifies the most profitable customers. • RFM identifies and ranks best customers. • RFM identifies customers mostly likely to purchase again. • RFM identifies how recently and frequently customers need to see an advertisement to make an impact on their behavior.
Negotiating
Of the following, which is not characterized as a logical function of the distribution channel? • Negotiating • Sorting • Storing • Physical distributing
Comparative advertising
Pap john's pizza runs an ad that states that they use the freshest ingredients possible while also stating that Domino's pizza freezes many of their ingredients. This best exemplifies: • Comparative advertising • Pioneering advertising • Competitive advertising • Institutional advertising
Frequently purchased
Personal selling is not a better promotional strategy than advertising and sales promotion if the products being sold are: • Technically complex • Frequently purchased • Needed to be explained in detail with variable sales messages • Promoted with push strategies
Sales-oriented pricing technique
Pricing your product to maximize your market share is best-described as a: • Sales-oriented pricing technique • Status-quo pricing technique • Return on investment (ROI) pricing technique • Profit-oriented pricing technique
A program's rating is calculated by knowing the percentage of all households with their televisions on at that time tuned to that show
Regarding television ratings and shares, which of the following is most likely to be true? • A show with a higher rating than another show will always have a higher share than the other show • A program's rating is calculated by knowing the percentage of all households with their televisions on at that time tuned to that show • A program's share is defined as the percentage of all households with televisions watching the show • A program's share number is always greater than or equal to its ratings number
Direct marketing
Sales that occur in a private residence/home setting where the transaction takes place face-to-face described as: • Direct retailing • Telemarketing • Direct marketing • Personal marketing
Informative
Suggesting new uses for a product, describing how a product works, and building company image are example of which type of promotional objective? • Traffic building • Informative • Persuasion • Reminder
$5
Suppose there were 100,000 households with a TV in a city and a particular show had a rating of 5.0 in that city. If it cost $500 for an ad on that show, what would be the CPM? • $5 • $100 • $2,000 • $2,500
Marketing objectives
The best example of internal factor of price would be: • Consumer demand for your product • Economy • Marketing objectives • Competition
Market orientation
The store factors of its layout, design, spacing, crowding, and appeal to the senses collectively best describes the store's: • Physical distribution • Market orientation • Atmospherics • Grassroots
Premium
Toys-R-Us is offering a free video game for customers who spend $100 in one store visit. This is an example of which type of sales promotion? • Sweepstakes • Coupon • Premium Contest
Air
Using the measurement metric response was suggested to be the strongest indicator of a successful promotional plan? • Truck • Rail • Water • Air
$40
What would the retailer's selling price be, given the retailer's cost is $20, and the retailer's markup on selling price is 50% • $10 • $25 • $30 • $40
Integrated marketing communications
When Samsung recently launched their new phone, it carefully coordinated activities such as media advertising, sales promotion, public, and packaging in order to produce a consistent, unified, customer-focused message. Samsung was practicing: • The DAGMAR approach • Objective and task budget promotion • Integrated marketing communications • Lead generation
Sales promotions are best at creating desire and action
Which of the following about the AIDA model is most accurate? • Generating attention should be the primary goal of all promotions • Personal selling is best at creating attention • Sales promotions are best at creating desire and action • Advertising is not strong in generating attention
Build a problem-solving environment
Which of the following describes a relationship selling approach instead of a traditional personal selling approach? • Short-term sales follow up • Sell products • Build a problem-solving environment • Focus on closing sales
Sales promotions impact behavior
Which of the following is most likely to be true: • Advertising impacts behavior • Sales promotions impact attitudes • Sales promotions impact behavior • Advertising gives us an incentive to buy
In-state students pay lower tuition than out-of-state students
Which of the following is the best example of a flexible (variable) pricing strategy: • Paying a monthly gym membership fee and then paying for additional classes you take • A car dealership offering different models of a car at different price points • Buying a printer for you computer and needing to buy the print cartridges for that model • In-state students pay lower tuition than out-of-state students
Redemption rate
Which of the following market rates was suggested to be the strongest indicator of a successful promotional plan? • Redemption rate • Displacement rate • Conversion rate • Acquisition rate
Both our firm and our competitors maintain the same level of promotions
Which of the following scenarios would most likely result in you keeping your same market share with profit staying low? • Our firm maintains promotions, while our competitors cut back on theirs • Both our firm and our competitors maintain the same level of promotions • Our fir, cuts back on promotions, while our competitors maintain their same level Both our firm and our competitors cut back on promotions
The relationship between ad expenditures and sales is best described as linear.
With respect to advertising expenditures and market share which of the following is least likely to be true? • New brand require higher spending to reach a minimum level of exposure needed to affect purchase habits. • New brands with a small market share spend proportionally more for advertising and sales promotion than those with a large market share. • The relationship between ad expenditures and sales is best described as linear. • Beyond a certain level of advertising spending, diminishing returns set in.
