MKT 350 Final Exam

An ad for Bud Light ran six times during a recently televised football game. When measuring IMC results for this ad, six would be the __________ for this telecast. A) frequency B) reach C) gross rating points D) ROI E) click-through rate

A) frequency

Tess is the marketing manager for a fast-food restaurant chain. She uses a target return pricing strategy because her firm's primary objective is to A)produce a specific return on investment. B)increase sales. C)decrease competition. D)build customer satisfaction. E)broaden the product line.

A) produce a specific return on investment

Which element of the marketing mix specifically deals with supply chain management? A) product B) price C) place D) promotion E) production

A) production

If you send an e-mail and include a link, you can track how many people took the desired action of clicking on the link. This is known as A) the click-through rate. B) impressions. C) frequency. D) gross rating points. E) reach.

A) the click-through rate.

Earl was known for driving 30 miles just to save a dollar on the price of his favorite beverage. Earl perceived price as _______ for a good or service, while most consumers recognize price as the _______ made to acquire a good or service. A) the money paid; overall sacrifice B) a variable cost; fixed cost C) a fixed cost; variable payment D) the overall sacrifice; monetary payment E) the break-even amount; total cost

A) the money paid: overall sacrifice

Where does retailing fall in the supply chain? A)at the end B)in the center C)first D)second E)nowhere

A)at the end

Sophie made pies and sold them from her food truck to local businesses. This is an example of a(n) A)direct marketing channel. B)distribution center. C)simplified transaction. D)wholesale operation. E)indirect marketing channel.

A)direct marketing channel.

Kelly is the head of marketing for a nonprofit agency that supports the arts. She just received the go-ahead from her board of directors to conduct the agency's first-ever advertising campaign. Her next step will be to A)identify the target audience. B)set the advertising objectives. C)determine the advertising budget. D)evaluate and select the media. E)create the advertisements.

A)identify the target audience.

Distribution intensity is commonly divided into three levels: A)intensive, exclusive, and selective. B)primary, secondary, and tertiary. C)administered, vertical, and independent. D)global, national, and local. E)corporate, contractual, and independent.

A)intensive, exclusive, and selective

Students of marketing often overlook or underestimate the importance of place in the marketing mix simply because A)it happens behind the scenes. B)it conflicts with promotion. C)it occurs after making pricing decisions. D)no one is directly in charge of place decisions. E)the product itself is so much more important.

A)it happens behind the scenes.

Today, retailers like Walmart, Home Depot, and Kroger dictate to their suppliers all of the following except A)which competitors they should collaborate with. B)what should be made. C)how products should be configured. D)when products should be delivered. E)what products should cost.

A)which competitors they should collaborate with.

Retailing is the primary activity in all of the following situations except A) buying and eating a fast-food meal. B) transporting pallets of Daisy brand dairy products. C) visiting a tile store that sells at wholesale prices. D) upgrading an airline ticket at the airport. E) purchasing one case of paper for the office at Office Max.

B) transporting pallets of Daisy brand dairy products.

Informative advertising is used to A)prompt repurchase of a product. B)create and build brand awareness. C)trigger an emotional response. D)gather information about consumers. E)convince consumers to take action.

B)create and build brand awareness.

Flora is frustrated with her company's supply chain management information system. She wants to be able to receive sales data, initiate purchase orders, send and receive invoices, and receive returned merchandise documentation. Flora needs a(n) A)cross-docking exchange. B)electronic data interchange system. C)vendor-managed inventory system. D)vertical conflict reduction system. E)radio frequency identification system.

B)electronic data interchange system.

The three elements of any IMC strategy are the consumer, the channels, and A) the receiver. B) the product. C) evaluation of the results. D) the company. E) event sponsorship.

C) evaluation of the results.

The AIDA model would suggest that before marketers can work to generate interest among consumers in their firm or their firm's products, they first need to A)determine the level of desire needed to sustain action. B)promote sufficiently to gain global attention. C)gain attention through brand awareness. D)offer discounts to increase purchase intentions. E)take steps to encourage immediate purchase.

C)gain attention through brand awareness.

Internet buyers are sometimes surprised to see online retailers using information about their past purchases to customize promotions targeted to them the next time they visit the retailer's website. The retailer is using the information to A)highlight point-of-purchase merchandise. B)shift from a general merchandise retailer to a private-label retailer. C)increase the share of wallet from their best customers. D)create traffic in their brick-and-mortar stores. E)evaluate customer loyalty.

C)increase the share of wallet from their best customers.

Integrated marketing communications represents the ________ element in the four Ps of a firm's marketing mix. A)pricing B)product C)promotion D)place E)partnering

C)promotion

When developing an advertising message, the message should focus A)the producer. B)the advertising environment. C)solving problems for consumers. D)creating investment opportunities. E)niche media balance.

C)solving problems for consumers.

All of the following are included in the five Cs of pricing except A)customers. B)channel members. C)cost. D)collaboration. E)company objectives.

D) collaboration

Dawn works for a firm that buys products directly from the manufacturer and resells them to retailers, who then sell the products to consumers. Dawn works for a A)retail distribution center. B)retail jobber. C)store representative. D)wholesaler. E)manufacturer's representative.

D)wholesaler.

In simple terms, the AIDA model is also known as the _______________ model. A) intention, action, interest B) stop, look, listen C) want, need, desire D) inform, persuade, act E) think, feel, do

E) think, feel, do

Many product-dominant firms use quality service A) as a way to minimize the cost of production. B) to support a standards gap. C) as a way to increase the perishability of their products. D) to install a voice of the customer program. E) to maintain a sustainable competitive advantage.

E) to maintain a sustainable competitive advantage

It is often difficult for retailers to distinguish themselves from their competitors through the merchandise they carry because A)they do not carry enough merchandise. B)consumers no longer recognize brand equity. C)big-box food retailers are shifting into specialty store product lines. D)there is not enough merchandise to go around. E)competitors can purchase and sell many of the same popular brands.

E)competitors can purchase and sell many of the same popular brands.

Consumers generally believe that ___________ is one of the most important factors in their purchase decisions. A)promotion B)place C)product D)perception E)price

E)price

The marketing of services differs from the marketing of products in all of the following ways except A) intangibility. B) inseparability. C) heterogeneity. D) renewability. E) perishability.

D) renewability

A service is any intangible offering that involves a deed, performance, or effort that A)cannot be physically possessed. B)is high-priced. C)is supported solely through advertising. D)can be transformed into a physical product. E)offers benefits but not costs.

A) cannot be physically possessed

The basic goal of integrated marketing communications is to A) communicate the value proposition to the target market. B) create desire. C) manipulate consumers. D) outspend competitors. E) tell the world about your company.

A) communicate the value proposition to the target market.

When CarMax promises a "no-haggle"pricing structure, it exhibits _________ because it provides additional value to potential used car buyers by making the process simple and easy. A)a customer orientation B)a status-quo pricing structure C)competitive parity D)a competitor orientation E)consumer parity

A) customer orientation

By providing good customer service, firms _______ their products A)eliminate the communication gap for B)add value to C)reduce the assurance for D)reduce the empowerment cost associated with E)increase the perishability of

B) add value

In developing marketing strategies, why is price often the most challenging of the four Ps to manage A)because most managers feel it is the least important element of the marketing mix B)because it is the least understood element of the marketing mix C)because it has to be based on the promotion budget for the product D)because it is difficult to calculate markups for products E)because managers don't understand the relationship between benefits and costs

B) because it is the least understood element of the marketing mix

A study found that, among addicted smokers, a 10 percent increase in the price of cigarettes resulted in a 2 percent decrease in the quantity demanded. What type of demand does this reflect? A)elastic B)inelastic C)exclusive D)inclusive E)differential

B) inelastic

Generally speaking, all advertising messages are designed to A) meet the needs of society. B) inform, persuade, or remind customers. C) comply with FCC and FTC rules and regulations. D) entertain, apprise, or educate customers. E) match production scheduling with consumer demand.

B) inform, persuade, or remind customers.

All of the following are steps in the AIDA model except A)awareness. B)intention. C)action. D)desire. E)interest.

B) intention

The content of an advertising message is closely tied to A) the size of the advertising team. B) the characteristics of the media selected to carry the message. C) the opportunity for posttesting. D) the sales promotion opportunities. E) the coupon re

B) the characteristics of the media selected to carry the message.

Julie is developing a budget for her firm's IMC program. First she sets objectives. Then she chooses media, and finally she determines the cost for each product to be promoted. Julie is using the __________ method of establishing an IMC budget. A) reach and frequency B) track and decode C) objective-and-task D) rule-of-thumb E) sender-receiver

C) objective-and-task

Naomi tells her sales representatives the goal is to generate at least a 20 percent return on investment for all of the industrial building supplies they sell. Naomi is using a _______ pricing strategy. A) sales orientation B) target profit C) target return D) status quo E) competitive parity

C) target return

__________ refers to a potential customer's ability to recall that the brand name is a particular type of retailer, product, or service. A)Product familiarity B)Brand association C)Brand awareness D)Marketing recall E)Cognitive association

C)Brand awareness

The difference between advertising and publicity is that advertising is A)more effective in reaching consumers. B)almost always used in conjunction with consumer satisfaction surveys. C)a paid form of marketing communication. D)designed to remind consumers, while publicity is used to persuade consumers. E)designed for very targeted audiences, while publicity reaches mass audiences.

C)a paid form of marketing communication.

Today, when a retailer orders merchandise from a manufacturer, the manufacturer usually sends an immediate order confirmation message by e-mail. Usually within a day or two, a second message arrives stating that the order is on the way to the retailer's distribution center. This second message is a type of A)vertical contractual notice. B)VMI requirement. C)advanced shipping notice. D)universal product code report. E)RFID tag.

C)advanced shipping notice.

Break-even analysis is useful because it allows managers to A)quantify the relationship between price elasticity and product elasticity. B)reposition products based on their break-even positioning revenue. C)estimate the quantity they will need to sell at a given price to break even. D)determine the relationship between price and quantity demanded. E)analyze the different elements contributing to their variable costs.

C)estimate the quantity they will need to sell at a given price to break even.

Sean relocated to take a new job. He immediately got sick and went to a doctor close to where he lived. During his exam, the doctor was impatient and demonstrated a poor bedside manner. Sean wished that he could have requested a different doctor in that moment, but it was too late. Sean's experience exemplifies which key difference in services? A) intangibility B) homogeneity C) perishability D) inseparability E) heterogeneity

D) inseparability

All of the following elements of an IMC strategy involve direct interaction with a customer except A) personal selling. B) consumer contests. C) mobile marketing. D) public relations. E) online marketing.

D) public relations.

Unlike product, promotion, or place, price is the only part of the marketing mix A)that offers the opportunity for an oligopoly. B)that is subject to gray market manipulation. C)that leads to competition. D)that generates revenue. E)that is determined by the consumer.

D) that generates revenue

The advertising message "People are not looking for quarter-inch drill bits; they are looking for quarter-inch holes" suggests that advertising messages need to A)emphasize technology. B)focus on quality. C)inform consumers about opportunities. D)focus on solving problems. E)engage in mild puffery.

D)focus on solving problems.

In very simple words, advertising is really about A)improving brand image. B)personal selling. C)linking emotions with products. D)getting consumers' attention. E)being creative.

D)getting consumers' attention.

After identifying the target audience for the university's new advertising campaign, the advertising team needs to decide whether the advertising objective is to __________, __________, or __________ potential and/or existing students. A)educate; stimulate; promote B)engage; entertain; elevate C)invite; inform; address D)inform; persuade; remind E)persuade; stimulate; educate

D)inform; persuade; remind

Yolanda asked her firm's advertising agency to estimate how often consumers saw her firm's IMC message and what percentage of the target audience was exposed to the message. Yolanda is asking for __________ data. A)parity and affordability B)sales and promotion C)attitude change D)rule-of-thumb E)frequency and reach

E) frequency and reach

The owners of hotels whose services are produced and consumed at the same time know that consumers do not have the opportunity to try out their service before purchasing. Many hotels use __________ to overcome the problem of inseparability of services. A)promotional discounts B)zone of tolerance allowances C)perishability gap analysis D)point-of-purchase displays E)satisfaction guarantees

E) satisfaction guarantees