MKT Exam 4

When three buyers purchase the products of three producers, nine transactions are required. If one intermediary serves both producers and buyers, the number of possible transactions is

6

____ provide businesses with copywriters, artists, production coordinators, media experts, researchers, and other highly skilled specialists.

Advertising agencies

You are an experienced and very successful sales rep for a major consumer products company. You are having lunch with a group of newly hired sales reps who just got their assigned sales territories. This is a very ambitious group of new hires, which is evidenced by the fact that they offered to buy you lunch if you would let them pick your brain about successful sales tactics. Which of the following personal selling success tips will you share with the new hires?

Be thorough in your preapproach by doing your homework on your prospects.

Cranson Paint Manufacturing Company buys the chemicals it needs for producing its products from a chemical producer, Roth Chemicals. In this instance, the chemicals are being distributed to Cranson through which of the following types of channels?

Direct distribution

Which type of retailer generally accepts lower margins than traditional retailers in exchange for higher sales volume?

Discount stores

In a franchise agreement, which of the following is a franchisee not responsible for?

National advertising campaign

Carlos Suarez has been hired as sales manager at a new firm and is trying to come up with a sales force compensation method. He would like to have selling expenses relate directly to sales resources, an aggressive sales force, and minimization of non-selling tasks. What compensation method(s) would best fulfill his requirements?

Straight commission

Cindy goes to Walmart and buys some clothing, a DVD, and all the groceries she needs for her family. What type of retailer is this particular Walmart?

Superstore

The major levels of intensity at which a company can choose to distribute its products are ____ distribution.

The major levels of intensity at which a company can choose to distribute its products are ____ distribution.

Which of the following are personal informal exchanges of communication that customers share with one another about products, brands, and companies?

Word-of-mouth communication

The Dyson Company, manufacturer of high-priced vacuum cleaners, has developed a promotional program with both push and pull policies. Dyson only sells its products through retailers who carry high-end household electronics items. For the push policy, Dyson will most likely use ____________; for the pull policy, Dyson will use ___________.

a bonus to the retailer for every Dyson vacuum sold; personal selling done by the retailer's employees

The focus of personal selling is shifting from selling a specific product to

building long-term relationships with customers.

A major benefit of using event sponsorship is that it

can provide large amounts of free media coverage.

Puma maintains a good deal of control over how its products are promoted, displayed, and sold. Because of this control, Puma would be appropriately described as the channel

captain

Candy and Sarah own and operate a small restaurant. On a weekly basis, they go to their local Sam's Wholesale Club to purchase the food items and cleaning supplies they need for their business. With the exception of the volume they purchase and the items' intended use, this grocery shopping trip is identical to a weekly trip by their families to a grocery store. Sam's is serving as a ____ wholesaler for these entrepreneurs.

cash-and-carry

When Yoplait Yogurt gives a portion of its profits to breast cancer research, it is using

cause-related marketing.

Soft drink companies advertise that their products beat the competition in national "taste tests," and they refer to the rival brands by name. This type of advertising is best described as

comparative

Heinz uses various techniques such as coupons, free samples, and consumer contests to encourage consumers to try its products. All of these marketing activities are considered

consumer sales promotion methods.

Product placement in television shows is becoming increasingly important due to

consumers' greater ability to screen advertisements.

ThrowBackGames offers free downloadable versions of its computer games for a very short time. These efforts have a primary promotional objective of

encouraging product trial

A common form of tactile communication in U.S. business activities is

handshaking

New store formats and advances in _______________ are making the retail environment highly dynamic and competitive.

information technology

Stephanie is planning to open an upscale dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at the time?

location

The objective of inventory management is to minimize inventory costs while

maintaining an adequate supply of goods to satisfy customers.

The stage of the personal selling process in which the salesperson attempts to make a favorable impression, gather information about the customer's needs and objectives, and build a rapport with the prospective customers is called

making the presentation.

An independent businessperson who is paid a commission to sell complementary products of different producers in an assigned territory without actually taking title of the merchandise is a(n)

manufacturers' agent.

A list of the exact magazines, newspapers, and television stations in which an advertisement will appear, along with the dates and times, is a(n)

media plan

Sadie won a hot-air balloon ride and dinner for two for being the top revenue-producing mortgage loan officer at her company for the month of October. This contest exemplifies a company's efforts at

motivating salespeople.

Apple makes its computers available through its own stores, its website, and some major retailers. This is an example

multichannel distribution.

Anything that reduces the accuracy and clarity of communication is called

noise

Eliminating a wholesaler from a marketing channel will

not eliminate the functions performed by that wholesaler.

A shopping center that contains stores owned by manufacturers who make a special effort not to conflict with traditional retailers is a(n)

outlet shopping center.

Matthew McKinney, director of marketing for Greenwald Industrial Products, complains to his advertising director that the continuing slump in orders has apparently been perpetuated by the firm's failure to have the necessary advertising expenditures. Based on this information, Greenwald is most likely using the ____ approach to determine its advertising expenditures.

percent-of-sales

Paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation is

personal selling

Monsanto just came out with a new genetically modified seed that it believes will increase crop yields. The seed has been modified to withstand drought, and it kills insects that frequently feed on it. This is important especially because insects have begun developing a tolerance for many of Monsanto's genetically modified seeds already out on the market. Because these seeds are new to the market, Monsanto wants to engage in a major integrated marketing communications campaign. It knows that it will have to convince farmers about the advantages of its new seeds and invites some of its major customers to its laboratory to see how the seeds are created. The scientists inform the farmers during the visit about how the seeds will increase their crop yields. This is most likely an example of

personal selling.

An evaluation performed before an advertising campaign begins is a

pretest

Pedro's company has launched a new product line, and he is put in charge of sales. He decides his first step will be to find potential customers in the company's sales records. Pedro is

prospecting

Marc works for F1 where his responsibilities include maintaining favorable relationships between the organization and its stakeholders. Marc is most likely employed in

public relations

The Sharper Image likes to use nonpersonal communication in news story form such as press releases for its new and improved products. This is an example of

publicity

The supply chain begins with______________ and ends with_________________.

raw materials; customers

Atticus is reading a magazine ad for a new cologne. In the ad, he sees little more than a photo of a man riding horseback on a beach, and the name of the new cologne, Rugged. In this situation, Atticus is a ___, one who ___.

receiver; decodes

Dial Soap's advertising slogan "Aren't you glad you use Dial? Don't you wish everybody did?" exemplifies the use of ____ advertising.

reinforcement

Facing competition from Walmart as a low-cost retailer, Target has updated its _____ to be a mass merchandiser of inexpensive yet chic goods. To accomplish this, it has entered into design partnerships to offer low-cost goods made by famous designers.

retail positioning

After direct marketing, the next slightly longer marketing channel adds a(n)

retailer

The cost of ____ is usually substantially lower than the cost of ____.

retaining existing customers; acquiring new customers

When McDonald's uses the Monopoly game in which customers receive game pieces with each visit and try to assemble a set of properties to win prizes, McDonald's is utilizing

sales promotion

Retailers play a major role in creating all of the following except

spatial utility.

On a break between classes, Linda checks her smartphone and enters her contact information on the Publishers Clearing House site. She doubts that she will win $10 million, but she never passes up a chance to participate in a

sweepstakes

Arnold and Erin are discussing the media plan for the opening of their new bar/laundromat called Soap and Suds. He tells her that while he agrees that ____ has tremendous impact, he does not feel that the upfront costs for such a campaign are in the modest budget that presently exists.

television

During his presentation to Mrs. Lynch about a high-end gourmet oven, Fred asks, "Would you prefer black or stainless steel?" This is an example of a

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