MKTG Exam 3

A marketer that wanted to include detailed information in advertisements would most likely use

magazines (pg. 524)

A missionary salesperson is usually employed by

manufacturer (pg. 553)

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

trial close (pg. 551)

Some companies use ____ as internal tools for teams working on a project requiring lots of documentation.

wikis

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 pre-approach by doing your homework on your prospects.

​Which of the following statements is true about marginal analysis?

​Total cost is the sum of average fixed costs and average variable costs times the quantity produced.

​The Internet has radically changed the way traditional marketing used the marketing mix to attract and retain customers. Now e-marketing strategies require the marketer to reexamine the characteristics of the four components of the marketing mix. With respect to e-marketing, which of the following statements about the four components of the marketing mix is true?

​Most traditional promotions can be enhanced by using digital media.

​You have just completed a two-day offsite meeting with your marketing team. During the meeting, you solidified your company's strategy for distributing, promoting, pricing products, and understanding the needs and desires of your customers by utilizing digital media marketing tactics. Which of the following statements best describes what you just accomplished?

​You developed your company's e-marketing strategy.

​New information technologies such as social media represent a tremendous opportunity because they ______________ while significantly ______________.

​facilitate communications; reducing costs

Which type of pricing objective can reduce a firm's risk by helping to stabilize demand for its products?

Status Quo

Suppose State Farm Insurance stated, "We want our advertising to increase our customer base for home and automobile insurance 10 percent by the end of the fiscal year." This would be considered a(n)

*NOT percent-of-sales approach (pg. 521)

If Seagram's marketers found that the firm's Crown Royal bourbon was a prestige product and raised its price, which of the following would most likely happen?

Above some price level, the quantity demanded would begin to decrease. (pg. 588)

Which of the following characteristics distinguish online media from traditional marketing?

Addressability, interactivity, accessibility, connectivity, and control

Which of the following lists forms of competitive advertising?

Comparative, reminder, reinforcement (pg. 517)

Which of the following is not a method used to determine transfer prices?

Discounted standard cost

A schedule in which advertisements run for set periods of time, alternating with periods in which no ads run is known as

Flighting (pg. 525)

Pricing the basic product in a product line low while pricing related items at a higher level is called

NOT bait pricing.

____ allows customers to express their needs and wants directly to a company in response to its marketing communications.

NOT control

____ involves the use of digital networks to provide linkages between information providers and users.

NOT interactivity

You are the marketing manager for a multi-state auto dealership in the Southeast United States. It is that time of year when your fleet of autos goes through a major model year change. You are putting the final touches on your pricing strategy to facilitate this change in your inventory of autos. You are the marketing manager for a multi-state auto dealership in the Southeast United States. It is that time of year when your fleet of autos goes through a major model year change. You are putting the final touches on your pricing strategy to facilitate this change in your inventory of autos.

NOT ​Negotiated pricing

A product that has more features than those of its competition, or that is perceived to be of higher quality, warrants using which type of pricing strategy?

Premium pricing

Which of the following is not a major factor for firms making price decisions?

Previous sales

Which factor is least likely to affect pricing decisions?

Shifting stock values

Which of the following is least likely to be directly involved in actually making sales?

Support sales personnel (pg. 553)

A sale that advertised prices "up to 65 percent off" the original price uses

Tensile Pricing

What type of discount is given to a business purchaser for performing activities such as transporting, storing, and selling?

Trade

Advertising agencies typically receive

a 15 percent commission paid by the media from which it makes purchases. (pg. 531)

Mike Stevens wonders whether the creative idea of using the character "Tom T. Turtle" as an image for marketing a new line of running shoes will be successful. He should suggest to his account representative that a(n) ____ be used to pretest the campaign.

a consumer jury (pg. 529)

The ability of a marketer to identify customers before they make a purchase is called

addressability

Telluride Ski Resort in Telluride, Colorado is a world-class ski destination. Taylor is a newly-hired manager of digital media and electronic marketing for Telluride. Taylor remembers reading about a new trend in video marketing, using _________ to engage and create a community of customers.

amatuer filmakers

Effective motivation of a sales force is best achieved through

an organized set of activities performed continuously. (pg. 561)`

Dion is a marketing communications consultant who specializes in the strategic use of social networking sites. Which of the following statements would most likely describe the companies that can use Dion's services?

any size company

Creating a favorable impression and developing rapport with prospective customers is a critical part of the ____ step of personal selling.

approach (pg. 550)

Redbox has established outlets in the simulated environment of Second Life. Your ____ is able to rent a movie from a Redbox.

avatar

Papa John's received negative publicity concerning the quality of the contents used in making their pizza. The information in the news report was incorrect, and was corrected on the next newscast. However, Papa John's wanted to go further and respond to the issue by creating a web-based journal that gives accurate information about Papa John's and the ingredients they use. This journal is an example of a(an)

blog

Maintaining or increasing market share

can be achieved even if industry sales are flat or decreasing.

Advertising appropriations are largest for which type of product?

convenience goods (pg. 521)

The federal government often uses ____ pricing when it grants defense contracts.

cost-plus

When a seller's costs are usually determined during or after a product is made and then a specified percentage or dollar amount is added to the cost to establish a price, an organization is using ____ pricing.

cost-plus

Order-getting activities are divided into two categories:

current-customer sales and new-business sales. (pg 552)

After the target audience for an advertising campaign has been identified and analyzed, marketers should then proceed by

defining the advertising objectives. (pg. 518)

If a product is priced based on how many or how few people want it at a particular time and place, ____ pricing is being used.

demand-based

Sebastian, Kevin's sales manager, points out to him that his last shopper in the housewares department didn't seem interested or involved as he explained the new food processor to her. Sebastian suggests that Kevin use a(n) ____ as part of his presentation next time.

demonstration (pg 550)

Which of the following refers to the strategic process of distributing, promoting, pricing products, and discovering the desires of customers usingdigital media and digital marketing. `

electronic marketing

After compiling a list of potential customers, a salesperson must

evaluate whether each prospect is able, willing, and authorized to buy the product.

The final stage of the selling process is

following up

If a manager tries to form territories with equal sales potential, the territories will usually be unequal in geographic size; this will cause the salespeople with larger territories to

have to work longer and harder to generate a certain sales volume. (pg. 562)

Measuring effectiveness during a campaign is usually accomplished by using

inquiries (pg. 529)

The University of Iowa runs a series of ads throughout the Midwest on how friendly and helpful its faculty, staff, and students are as well as how outstanding its academic programs are. This type of promotion would best be characterized as

institutional advertising (pg. 516)

Walgreen's has set up a website that enables customers to converse with the company and communicate their needs and wants. This is an example of a(n) ____ website.

interactive

If the terms of a business exchange are 2/10 net 30, this means that the transaction

involves a cash discount if paid within ten days.

A product under nonprice competition would most likely not succeed in the market if

it is easy to duplicate.

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 (pg. 522)

Jake is a sales representative for General Mills. Each week he uploads his plans for visiting clients out in the field to a routing and scheduling decisions system. Eric knows that one of the primary goals of routing and scheduling decisions in personal selling is to

minimize non-selling time (pg. 563)

Jin Xiao, a trained engineer, is a salesperson for a chemical manufacturer. He provides current customers with advice about a product's characteristics and applications. He is a(n)

missionary salesperson (pg. 553)

Maria recently put her house on the market at an asking price of $260,000. She realizes, however, that in order to sell the house, she may have to use

negotiated pricing.

____ includes any attempt to intentionally conduct dishonest activities online.

online fraud

Creative selling, which requires that salespeople recognize a potential buyer's needs and then provide the prospect with the necessary information, is performed by

order getters (pg. 552)

The target audience for an advertising campaign is the

people toward whom the advertisements are directed. (pg. 519)

Due to increasing consumer demand, many television networks are creating ____ of their shows.

podcasts

To increase sales of Chex cereals, Ralston Purina offered a free pound of bananas to customers who bought the large-size box. This form of sales promotion is called a

premium (pg. 568)

Reference pricing is

pricing a product at a moderate level and positioning it next to a more expensive model or brand.

If an organization sets prices to recover research and development expenses and establish a premium quality image for its product, it would be using a ____ pricing objective.

product quality

When a satellite dish company uses bundling to combine phone, dish, and broadband Internet access prices, it is attempting to influence a consumer's perception of price to make a product's price more attractive and reduce "sticker shock." This is an example of using a ____ pricing strategy.

psychological

Toyota's sponsorship of a major Professional Golf Association tournament would be an example of a(n) ____ tool.

public relations (pg. 532)

The Internet is often called a _________ medium because users determine which websites they are going to view.​

pull

If during an advertising campaign a certain portion of advertising runs continuously, and then during specific periods additional advertising is used to intensify the level of communication, a(n) ____ media schedule is being used.

pulsing (pg. 525)

If Ralph Lauren offers to reduce the price of its women's blazers when retailers buy more than 100 pieces, the designer is offering a ____ discount.

quantity

____ are offers of cash to customers who purchase a specific product, and ____ are offers of cash to customers who purchase a specific quantity of a specific product.

rebates; money refunds

An ad for a multivitamin that claims, "We still bring you everything you need to get through your day in one vitamin," would most likely be considered ____ advertising.

reminder (pg. 518)

Executives in Japan decided to price Lexus luxury cars in the United States at $55,000 while pricing them at $66,000 in their own country. This is an example of

secondary-market pricing.

The identification of an advertisement's sponsor is the

signature (pg. 527)

Darcy presents an identification card at the supermarket checkout and has a microcomputer attached to her TV. Information from both of these is sent to a research facility. Darcy is providing

single-source data (pg. 530)

When individuals' behaviors are tracked from television sets to checkout counters using equipment provided by the marketer, this is known as

single-source data (pg. 530)

Relationship selling is important because firms spend ________ times more on finding new customers than in keeping current customers.

six (pg. 555)

Chris is planning three sales during the third quarter of the year at Toys R' Us. The first is at the beginning of the school year, the second is the week before Halloween, and the third is Black Friday. These sales would be considered to be

special-event pricing.

Running a big sale in order to generate enough cash flow to pay creditors is typical in a situation in which a firm's primary pricing objective is

survival

​You are head of sales and marketing for your firm and you are meeting with the CEO to establish pricing objectives for the upcoming product year. Which of the following factors are you going to consider as you establish your firm's pricing objectives? ​

the firms survival

Artwork, a major part of most advertisements, consists of the

the illustration and the layout. (pg. 528)

The main problem with using the objective-and-task approach to setting an advertising budget is that

the marketer may experience difficulty when trying to estimate accurately the level of effort needed to achieve goals.

Sales force objectives are generally established for

the total sales force and for each salesperson. (pg. 556)

Monopolies usually keep their prices at a level that generate a reasonable, but not excessive, return primarily because

they want to avoid government regulations on their pricing.

"Mrs. Brucker, you would agree that this is the most attractive car interior in this price range, wouldn't you?" Cliff Davis, a salesperson at Midtown Ford, was using a(n) ____ when he made this statement.

trial close