MKTG FINAL PT II
Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal REVENUE for the 1125th cup?
$10.00
Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal PROFIT for the 1125th cup?
$5.30
Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal profit for the 700th cup?
$5.55
Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, what was the AVERAGE REVENUE for BruceCo?
10
Rosalie is thinking of advertising her sandwich shop on the radio. She is considering a package of 60 radio spots for $5,000. She only sells Cuban sandwiches for $10 and her average cost per sandwich is $5. How many additional sandwiched would she have to sell to breakeven if she buys the radio spots?
1000
Bruce is planning on selling sandwiches in class for $5 each. Food costs are $4 per sandwich. He will also need to buy an insulated cooler to store the sandwiches. This cooler costs $10. Bruce needs to make a profit of $25 to make it worth his while. How many sandwiches does Bruce need to sell to make the project worthwhile?
35
Which of the following tactics is most likely to encourage customers to pay your asking price for a product.
A price tag that looks like it was professionally printed
A direct marketing channel consists of?
A producer and a customer
Price elasticity is the slope of the demand curve. When price elasticity is HIGH?
A small change in price will lead to a large change in quantity demanded
Which of the following is NOT a functional benefit of packaging?
Acting as a silent salesperson
Which of the following is NOT an issue typically addressed in developing a channel strategy?
Advertising
Which of the following services is a full-service advertising agency likely to provide?
All of these - that is why they call it a full-service agency
Which of the following pairs would NOT be considered to be complementary products?
All of these are complementary products
When is the best time to establish a metric to measure the performance of a promotion?
At the time the promotion objective is established
Bruce went into an appliance store to purchase a 32" LCD tv for $249 as advertised online. When he got to the store, he was told that all of the $249 tv's had been sold, but there was a 32" LCD tv available for $299 that he could purchase today. Bruce may have been a victim of?
Bait and switch pricing
Which of the following is NOT a factor that drives competition in an industry?
Bargaining power of employees
Why is it so important to take complaints about service so seriously?
Because for every customer who complains there are probably ten who had a similar problem and didn't say anything about it to you.
Why is it important to develop contingency plans when you adopt a sales forecast?
Because once a plan is underway, there is a tendency to explain away unexpected results rather than try to adapt the plan to the new circumstances
Why is it important for a marketing manager to be aware of macro-economic indicators such as leading economic indicators and the business cycle?
Because you use different strategies in an "up" market than you do in a "down" market.
The _________________ is the customer's perceptions of, and interactions with the brand
Brand experience
Which of the following is NOT a question suggested by ethical legal framework for evaluating marketing decisions?
Can I make money doing it?
Intel corporation created the Intel Inside campaign to make consumers aware that an important component of any computer is the quality of the microprocessor (computer chip) that makes the machine work. They negotiated with computer manufacturers to include a sticker on the outside of the computer - regardless of the brand - showing that there was an Intel chip inside. This is a classic example of _____
Co-branding
One of the ironies in brand management is that if you are very successful at creating a branded product so that people start referring to the brand name instead of the product name, you risk losing the right to the brand name. This use of the brand name as the product name is called _____
Common usage
A major drawback to every day low pricing is?
Competitors can offer their products at a price slightly lower than yours
A ____________ is a retail concept where two or more stores are owned and operated by the same company
Corporate Chain
The __________ to setting prices is based on understanding an organization's cost structure and profit requirements
Cost based approach
Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Social responsibility was a high priority for the company so she knew that whatever coffee company she used, it had to be socially responsible. She went online and found three coffee companies that provided equipment and made regular deliveries. The company she chose claimed to be socially responsible. All of the coffee was certified to be fair trade coffee by the Fair Trade Coffee association. Hermione was familiar with the Fair Trade Association and knew that fair trade certification meant the coffee was purchased from small farmers who were paid a fair price for their coffee. Hermione used ____________ to evaluate the quality of the service?
Credence attributes
One of the ways intermediaries create value is to?
Decrease the number of transactions needed to create an efficient market/// Specialize in one or more channel functions in order to become better at it than others in the channel
When I go to the grocery store, I see several types of cola products. Sometimes, even though I am in the mood for a cool, refreshing Cola, I keep my money in my pocket because I am saving up for a new high definition television set. For the Coca Cola Company, this is an example of ___________ competition
Discretionary income
One of the dimensions customers use to evaluate service quality is _____________, or caring, individualized attention to customers
Empathy
_______ is the process of systematically monitoring internal and external data that may have an impact on future plans
Environmental scanning
Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Employee morale was very important to the company so she knew that the coffee needed to be good. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She called all three and asked them to come in and put on a demonstration so that the employees could decide which coffee they liked best. The winner of the taste test would get the contract Hermione used ____________ to evaluate the quality of the service
Experiential attributes
The ______________ deals with factors that affect your company, but are beyond your ability to control directly
External microenvironment
The advantage of ________________ is that it allows you to spread the cost of developing a brand over many different products
Family branding
_____ measures the difference between what a customer's expectation of service experience and the customers actual experience with the service
Gap analysis
A ______________ or _______________ tries to create the perception of value by eliminating the advertising expense associated with many consumer products
Generic brand, no-name brand
___ is still used successfully today, especially when dealing with expensive, one-time purchases; even though most marketers consider it incompatible with relationship building
High-Pressure Selling
The law of demand (which is the basis of the demand curve) says?
If prices increase, customers will buy less
Which of these statements best describes the basic norm of business ethics?
In general, people are honest
Which of the following is NOT a reason a company might want to have more than one marketing channel?
In order to earn back money that otherwise would have been earned by your retail network
What is a major disadvantage of the market factor analysis method of forecasting?
In order to use it, there has to be a known market factor that correlates with your product's sales
In general, the intent of government regulation of business in the United States is to ?
Increase competition
In order to maintain a brand, you must protect it against _____, where people use the brand name without permission.
Infringement
The basic issue when you are dealing with the __________ characteristic of services is that the customer and the service provider have to be together in order for the service to be produced
Inseparability
The ______________ deals with factors that affect your company, and are within your ability to control directly
Internal microenvironment
In general, you have more flexibility in setting your prices in the _________ stage of the product life cycle than in the _________ stage of the product life cycle
Introductory, maturity
Which of the following is NOT a characteristic of a good Objective?
It is adaptable
Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Jump Start Your Fat, Lazy, Puppy" and asked your opinion. You said?
It is not a good brand name because its too long
One of the ways to leverage brand equity is to engage in ___ where you allow others to use your brand name for a fee or other compensation?
Licensing
A(n) _____________ specifically excludes things, such as damage caused by the customer, from warranty coverage
Limited warranty
_____ deals with the flow of physical goods and related information through the value chain
Logistics
Julio is the sales manager for Champion Spark Plugs. Julio knows that there will be a need for 4.6 sparkplugs (on average) for every new car built this year and a need for 0.7 replacement sparkplugs for every car built in the last seven years. Julio is likely to use the ___________ method for forecasting demand
Market Factor Analysis
What is the difference between market size and sales potential?
Market size is the upper limit of sales for the industry as a whole, sales potential is the upper limit of sales for your company
Roxanne has developed a new adult milk beverage that is enhanced with vitamins. There has never been a product like this before and she is wondering how many cases she should manufacture in the first year of production. Roxanne is likely to use the ____________ method to forecast demand
Market testing
The SWOT analysis can be used to develop marketing strategies by ______
Minimizing a weakness or a threat
A company using a ____________ strategy creates several individual brands in the same product category
Multiband
Many television infomercials advertise a product at a very low price. After you order the product, you find there is a fairly substantial shipping and handling charge. When you figure in the extra charges, the product may be more expensive than other, similar products that you were considering. This is an example of a ________tactic
Multiple price
When using a SWOT analysis, a threat is an issue that is?
Negative, External
In many market situations, such as an oligopoly or monopolistic competition, there is a very strong expectation of what the price for a product should be. In these situations, many businesses engage in ____________ by using advertising, free-product offers or bonus packaging to differentiate their product
Non price pricing
A(n) _____________ is an organization that frequently is given tax-advantaged status because it provides a service that is considered to be in the public interest
Non-government organization
A(n) ______ is an organization created to provide a public or mutual benefit other than the pursuit or accumulation of profit for investors
Not-for-Profit
One of the biggest differences between a for-profit service company and a not-for-profit service company is that?
Not-for-profit companies have multiple constituencies that could be considered to be customers
Experience has shown that customers perceive a price of $99.99 to be significantly lower than a price of $100. The pricing strategy that takes advantage of this phenomenon is called _____
Odd even pricing
A brand can be thought of as a promise you make to your customers. In order for the brand to be successful, the promise must be ____?
Perceived as valuable to your customers
When using a SWOT analysis, a strength is an issue that is?
Positive, Internal
For companies operating in an oligopoly market structure, prices tend to be very stable. In these situations, the company with the largest market share might raise its prices in hopes that other, smaller companies will follow. If this happens, the price will increase. This is called the ____________ to setting prices
Price leadership approach
Which of the following is NOT a cost typically associated with logistics?
Product development/ Advertising
Companies that fail to ____________ will find themselves at a disadvantage in terms of reaching customers and finding good employees
Promote diversity
What is a major disadvantage of the trend analysis method to forecasting?
Relying on statistical analysis means you risk ignoring foreseeable environmental factors
A(n) ______________ is a tool for evaluating an organization's internal and external strengths and weaknesses
SWOT analysis
Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She chose the supplier that advertised the lowest price. Hermione used ___________ to evaluate the quality of this service
Search attributes
Many retail stores use "secret shoppers," people who pretend to be customers, go into a store and do all sorts of things. They take notes and are able to report back what is really happening in the stores. This technique is used for ______
Secret shoppers are used for all of these things
The ____________ component of the external macro-environment deals with the demographic characteristics of a population and its value
Socio-cultural
______ is the process of determining what an organization is, who it serves, what it does, and why it does what ti does, with a focus on the future?
Strategic planning
A major difference between a business plan and a marketing plan is that a Business plan will include ________ while a marketing plan will not
Strategies for each functional area
The biggest difference between a merchant wholesaler and an agent or broker is that the merchant wholesaler?
Takes ownership of the products it carries
An outcome measure?
Tells you whether or not you achieved your goal
Warranties can be either expressed or implied. An expressed warranty means that?
The company has provided a written statement saying what their responsibility is for defective products
Which of the following is a difference between inside selling and outside selling?
The job may involve extensive travel.
BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend each day. Which of the following would be a diagnostic measure associated with the plan?
The number of people who walked through the store each day.
When I was a young man (not too long ago) Big Box retailers - very large, free-standing specialty stores were very popular. Today many of these stores such as Toys'R'us and Party Supplies Warehouse, stand empty. This could be explained according to ______
The retail life cycle
Which of the following conditions make it favorable for a retailer to launch a store-brand
The retailer has a solid reputation for quality products
Which of the following is a major disadvantage of the market testing approach to forecasting
The time it takes to conduct the test market may put you at a competitive disadvantage in the marketplace
Raul purchased a microwave oven. He brought it home, plugged it in and nothing happened. Bummer. So he immediately returned it. The customer service representative was unwilling to let Raul return the microwave saying that they did not allow returns on electronic merchandise. Raul pointed out that even though there is nothing in writing, _________________ means that if the microwave doesn't work he can return it. Period. End of story.
The warranty of merchantability
Which theory of retail evolution proposes that as retail stores become successful and upgrade their product lines (and prices) it creates an opportunity for a new, low cost retail form to enter the market?
The wheel of retailing
John Wannamaker is reputed to have said "I know that half of my advertising dollars are wasted, I just don't know which half." This illustrates a major problem in evaluating advertising effectiveness which is ?
There is a low correlation between running an advertisement and a change in sales
Which of the following is an example of a direct marketing channel?
These are all direct channels of distribution
A successful brand adds value to a product because...?
These are all expressions of the value of brand equity
One of the reasons there is confusion between the marketing plan and the business plan is that
These are all reasons why there is confusion between the marketing plan and the business plan for an Organization
Unlike a storage warehouse, a distribution center is primarily for?
Transshipment of products
The ____ approach to new product pricing sets prices low for a while in order to encourage people to try the product and then raise the price once the product gained traction in the marketplace
Trial Pricing
Which of these stores might want to locate next to each other in order to increase traffic for both of them
Two automobile dealerships
What is the difference between the supply chain and the value chain?
Very little. A supply network is the part of the value chain.
BruceCo makes novelty products such as whoopee cushions and plastic vomit. The company sells about $2 million dollars worth of product. The major customers for BruceCo products are small independent novelty shops that will typically order less than $200 worth of product at a time. Which of these marketing channels would be the best for BruceCo to adopt?
Work with a distributor who carries a variety of products sold in novelty shops
When developing contingency plans, the ____________ scenario assumes that everything that could go either right or wrong goes wrong
Worst case
Price elasticity is the slope of the demand curve. When price elasticity is LOW?
You can increase revenues by increasing prices
Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Playful Puppy" and asked your opinion. You said?
You said all of these things, and meant them
Which of these stores would you expect to find in a city's central business district?
You would expect to see all of these
The Bay Area Regional Transit Authority (BART) operates a light rail system in the San Francisco Bay area. Passengers purchase a ticket with a magnetic strip that keeps track of how much money is on the ticket. The cost for a ride is anywhere from about $3 to about $10 depending on how far you are going. You can go to any of the downtown stops for the same price. BART is using ___________ geographic pricing
Zone delivered price
A marketing channel always includes
a producer
Which of the following forms of promotion gives marketers the greatest degree of control over the message?
advertising
Which of the following is a good reason for raising your prices?
all of these
Which of the following statements about pricing in the not-for-profit sector is FALSE?
all of these
Which of these is NOT an example of an intangible product?
all of these
Which of the following is NOT an example of a not-for-profit organization
all of these are not
A diagnostic measure?
all these
Irene wanted to start a Juice drink business in San Mateo. She felt that in order to build the traffic she needed to make the store successful, she should develop an integrated marketing communications program that included outdoor advertising on billboards near to her store, coupons printed in the local shopper newspaper, radio advertisements during afternoon drive time and on weekends, television ads on the food network using her local cable operator and a couple of giant helium balloons flying over her shop for the grand opening. Because she didn't have the $175,000 to pay for the entire campaign, she decided to buy a couple of giant helium balloons for $500 and to do the rest of the things after the shop opened and she had some cash flow coming in. This is an example of the ______________ approach to setting the promotion budget?
all you can afford
Frodo was a massage therapist. He was very good at dealing with lower back pain. In his waiting room, he had a framed photograph of Sylvester Stallone along with a letter from the celebrity saying that Frodo was the best massage therapist in the world. Sylvester Stallone appeared in all of Frodo's print and radio advertisements as well. Frodo was using the ___________ approach to making his service seem 'real'
association
When goods and services are exchanged for other goods and services, rather than for money, it is referred to as
barter
A(n) _____________ is a name, term, design, symbol, or any other feature that identifies one seller's goods or services as distinct from those of other sellers
brand
_____ are the set of moral rules that govern how businesses operate, how decisions are made, and how people are treated
business ethics
The Senseo coffee maker is a machine that makes one cup of coffee at a time from specially prepared 'pods' of coffee. You can get the coffee maker at a very reasonable price. However, you can only get refill pods from the manufacturer and they tend to be expensive. This is an example of...?
captive pricing
_____ occurs when there is a clash of goals and methods between distribution channel members
channel conflict
As a rule, when it comes to choosing between advertising media, the higher the _________, the higher the cost
channel richness
The ____________ component of the external macro-environment deals with alternate firms that could satisfy a specific market's need
competitive
Which level of the organization is typically responsible for determining the makeup of the organization's portfolio of businesses?
corporate level
When dealing with LOGISTICS there is a fundamental trade-off between _____ and _____. The goal is to keep one high and the other low, but they tend to increase together
cost, service level
According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies develop a performance oriented ____
culture
Which of the following is NOT an example of a third-party provider of logistics?
design firm
Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class?
did we achieve our goals?
Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with framed documents. Some of them were diplomas from the massage schools he had attended. Others were copies of testimonial letters from well known people. Still others were reprints of favorable news articles that had been published in newspapers and magazines. Frodo was using the ___________ approach to making his service seem 'real'
documentation
If I were scanning the _____________ environment, I would be interested changes in the consumer confidence index
economic
Caterpillar makes heavy equipment for the construction industry. These machines are used hard and need fast reliable service to keep them running once a customer has purchased one. Because of this, there is only one Caterpillar dealer in any market. This is an example of _____ distribution
exclusive
The __________ environment deals with issues that are beyond your company's ability to control directly
external
A selective market coverage approach works best for shopping products that have a distinctive brand T/F
false
Ideally each of the channel flows is performed by a separate business that specializes in that function T/F
false
In the United States, the federal government monitors the marketplace for possible infringement on registered brand names T/F
false
It is better to wait for a long time and raise prices significantly than it is to have regular smaller price increases T/F
false
The Federal government has the primary responsibility for regulating business in the United States
false
Under the Robinson-Patman act, it is considered price discrimination to charge different customers different prices for the same product in consumer markets T/F
false
Up until 2006, it was legal for manufacturers to dictate the prices at which retailers can sell their products T/F
false
In automating a manufacturing plant, which of these would definitely increase in the short run
fixed costs
My friend who works at a major airline told me that they change their fares once every 3 minutes, on average. They are always monitoring how many seats are sold and how many are available (load factor) and how many days until the flight is scheduled. Customers sometimes feel that they are being treated unfairly because no two people on the same flight have paid the same price for their tickets. The airline does this because ____________ are so high that they need to maximize the amount of revenue they can get from every seat
fixed costs
_____ are the costs of production that do not change with the number of units produced
fixed costs
The PUSH approach to promotion....
focuses on getting members of the distribution channel to support the product
A ________________ is a prediction of what a business's sales will be in the future?
forecast
For a store using ______________, many items will go on sale each week
high low pricing
Most of the functions that need to happen in order to move a product from producer to consumer deal with?
information
Thomas Friedman wrote a book about the impact of new technologies and other trends impacting the way business is conducted in the world called The World is Flat. One of the basic premises is that widespread adoption of internet protocols and the seamless connection of computer systems along the value chain allowing for the efficient flow of _____ to help smooth the flow of goods from raw materials to end user
information
Sabrina was running a day care center for pre-school children. She decorated the walls with images from the motion picture "Finding Nemo." One day she received a letter from attorneys representing Pixar and the Disney Corporation asking her to stop using images from "Finding Nemo." Pixar and the Disney Corporation were defending their brand against ______
infringement
Which of the following is NOT one of the levels of attributes customers use to evaluate service quality?
intangible attributes
A(n) _____ is an entity that assists in the movement of products through the channel
intermediary
The concept of ___________ recognizes that before an organization can effectively take care of customers' needs, it must focus on its employee's needs
internal marketing
One of the ethical issues in marketing is establishing what is a fair price. Some pharmaceutical companies charge very high prices for life-saving drugs because they need to recover the massive amounts of money invested in new drugs that never made it to market. While there is no question this practice is __________, there is a question about whether it is ___________?
legal, ethical
In an oligopoly situation, where the demand curve for the product is kinked, what is the best strategy to increase profits?
maintain price and reduce costs
The __________ environment deals with issues that affect your company only
micro-
A (n) ______________ is a long-term accomplishment that the organization wants to achieve
objective
_____ are factors that limit the range of prices a firm may set for its products
organizational constraints
A(n) ________________ is the container used to protect, promote, transport, and/or identify a product
package
Which of the following is NOT a component of the promotional mix?
packaging
Nintendo chose a _____ approach to pricing for a new game console because they felt the market for this product was price sensitive, there are major economies of scale to be achieved, and both Sony and Microsoft would be introducing new game systems shortly
penetration
The product market growth matrix suggests four strategies based on customers and products. Which of the following is the least risky of the basic strategies suggested by this approach?
penetration
A marketing helps to create _____ utility
place
The ____________ component of the external macro-environment deals with restrictions state and federal laws place on a business' activities
political/legal
Manny opened a coffee shop right across the street from a Barstucks coffee shop. Manny had studied the market and he knew that it cost Barstucks, a national chain, $1.40 to make a cup of coffee that sold for $2.50. Manny could make the same cup of coffee for $1.10 and could sell it profitably for $2.25. The day he opened his shop, the Barstucks across the street offered a 99cent cup of coffee special. No customers came to Manny's store and he had to close. The day he closed his store, the Barstucks 99 cent special ended and the price of a cup of coffee went up to $2.75. This was probably?q
predatory pricing
When using the consultative approach to selling, part of the ___ stage of the personal selling process involves developing a proposed solution to meet the customers need
presentation
Which of the following is NOT one of the dimensions customers use to evaluate service quality?
price
Colgate Palmolive created a special package that included a free regular-sized tube of toothpaste when you purchase a family-sized tube of toothpaste at the regular price. This is an example of?
price bundling
Colgate Palmolive developed a new line of Colgate brand mouthwash. As part of the introduction, they included a free sample of Colgate mouthwash with every tube of Colgate toothpaste. This is an example of?
price bundling
When I go to the store, I see several different types of cola products. Normally I prefer Coke Zero, but sometimes I am in the mood for a different kind of soft drink. I may buy an energy drink, or a Snapple, or even head over to the mall for a Jamba Juice. For Coca Cola, these other soft drinks are examples of ______________ competition
product
Mickey was hired by Metropolitan LIfe Insurance Company as a sales representative. The first task was to generate a list of 100 close friends and relatives who might be interested in talking about life insurance. This is an example of the ______ phase of the personal selling process
prospecting
Carlina operates a wholesale lumber business serving contractors in her Midwestern city. She takes orders from a central location and delivers the lumber and other building materials to the contractor's jobsite using her own trucks. She orders her lumber from a mill in Washington State. Because the lumber is bulky and she orders large quantities she uses _________ transportation to ship the lumber from Washington
rail
Coca Cola's basic strategy is they you should never be more than an arms length away from a cold, refreshing Coke. In order to achieve this strategy they try to make Coke products available for sale through as many outlets as possible. You can buy bottled Coke in the grocery store, fountain coke at a restaurant, single cans and bottles at convenience stores and gas stations, and individual cans from vending machines while you are waiting in line for a ride at an amusement park. Because the goal of the supply chain is to maximize _____, Coke is willing to bear the expense of having several different channels of distribution
responsiveness
Because price can be considered a ___________ attribute, it can be used to position your offering relative to those of your competitors
search
Thomasville furniture decided to reduce the number of dealers carrying its line fine furniture. Stores who wished to carry Thomasville were required to dedicate at least 10,000 square feet in their store for a Thomasville gallery. This meant that only the larger dealers in a given market would be able to carry Thomasville. This is an example of?
selective
A ____________ is a product that consists of primarily intangible attributes
service
One of the advantages of _____ is that they can be moved from one platform to another without having been loaded or unloaded. Names such as piggyback, fishyback relate to the variety of transportation options
shipping containers
Eseffisue Company has developed a portable solar-powered global positioning (GPS) device. There is a high demand for the product and until now, there wasn't anything like it on the market at any price. The company has a patent and the most important attribute for a GPS device is quality. Eseffisue Company should use a ____________ approach to pricing this new product
skimming
If I were scanning the _____________ environment, I would be interested in the trend where multi-generational households are increasing
socio-cultural
the ____________ component of the external macro-environment deals with inventions or innovations from applied science or engineering research
technological
When dealing with ORDER PROCESSING, there is a trade-off between _____ and _____
transaction costs, inventory levels
Santa Claus is trying to forecast demand for coal this Christmas. For the past 300 years, the number of naughty children (who will get coal in their stockings) has increased by 3% each year. Santa is likely to use the ____________ method to forecast demand
trend analysis
Carlina operates an automobile parts manufacturing plant in Chillicothe, Ohio. She has automotive customers in Michigan, Ohio, Tennessee, Georgia and Indiana. Because most of her customers insist on Just In Time inventory management she needs to know exactly when the shipments of her product to the customer will arrive. Carlina uses _________ transportation for this part of her business
truck
A brand is an attitude about a product T/F
true
A temporary price cut is an investment in promotion T/F
true
All of the marketing concepts that deal with tangible products apply to services as well T/F
true
Availability or having a product in stock is a primary distribution concern for convenience products T/F
true
From a retail pricing perspective, $999.99 is significantly lower than $1000 T/F
true
It helps to keep your brand name from falling into the common usage if you use the brand name as an adjective, rather than as a noun or verb T/F
true
One of the functional benefits of packaging might be that a customer could re-use the package for other things after the product has been consumed T/F
true
Television networks share the space to run ads during a program with local affiliate stations
true
There is no such thing as a price that is too high if someone is willing to pay it T/F
true
There is no such thing as a purely tangible or a purely intangible product T/F
true
Volunteers are a tool not-for-profits can use to promote an organization. T/F
true
After the superbowl football game, Mark got a phone call from a Polling organization. The person on the phone asked Mark which commercials he remembered seeing during the Super Bowl. This is an example of a(n) ________________ test of advertising effectiveness
unaided recall
Gandalf opened a tobacco shop in the Haight/Ashbury District. He wanted to create a distinctive brand personality for the store, so he insisted that all of the employees wear purple robes and long, pointed hats while they were on duty so they would all look like wizards to customers. This strategy was designed to help Gandalf overcome the __________ characteristic of services
variability
When you are dealing with the ____________ characteristic of a service, one approach is to institute procedure manuals and training programs so that your service employees will know how they are supposed to deal with customers.
variability
_____ are the costs of production that are tied to and vary with the number of units produced
variable costs
Carlina operates a tofu making factory in Taiwan. She uses soybeans grown in Northwest Ohio for her tofu because they are very high quality and the prices are low. Soybeans will keep for a very long time without spoiling. Because her main concern is how to get the thousands of bushels of soybeans to her factory for the least cost, Carlina uses _____ transportation for this part of her business
water
There are two things you need to know about a number if you are planning on using it as a metric. One of them is?
what is the trend?
