Mktg last test

Word-of-mouth communications are most effective for _______________ products

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

Savanna is a sales person for Aeropostale. Her compensation is based on a set salary plus a commission based on sales. Savanna's compensation is based on a(an)

Combination compensation plan

Scenario 17.1 Use the following to answer the questions. ​ The Toyota Corporation is developing its promotional plan for the coming year and is considering several types of advertising to communicate its messages. Toyota will likely advertise its vehicle, the Venza, on TV, on its website, in major national magazines, and through Facebook. It is possible that the ads could focus on the features of the Venza and its most likely competitor, the Ford Edge. Other forms of advertising that can be considered are ads that feature all of the Toyota brands in a single ad, while mentioning only the Toyota brand and its company's strengths. Finally, Toyota will probably continue to advertise updates of its cash cow brands, the Camry and the hybrid versions of its SUVs. Refer to Scenario 17.1. If the ads include both the Venza and the Ford Edge, they would be examples of

Comparative advertising

Which of the following lists forms of competitive advertising?

Comparative, reminder, reinforcement

The manager at Target puts a sign up next to a Samsung audio system that reads, "Only $299.99! $60 less than at Best Buy." This is an example of what type of pricing strategy?

Comparison discounting

An arrangement in which a manufacturer pays a certain amount of a retailer's media costs for advertising that manufacturer's products is

Cooperative advertising

Your company is planning to launch a new line of women's athletic apparel in the next six months. In order to create some enthusiasm in the market for your new products, you are working with an outside agency on the promotional ads that will run during some popular sporting events. Which of the following should be the primary objective for these promotional ads

Create awareness

A ___________ is an advertisement promoting a product and identifying the names of participating retailers that sell the product.

Dealer listing

___ identifies changes in public opinion affecting an organization

Environmental monitoring

Refer to Scenario 19.2. BASF is considering the problem of actual distance in delivering its product from the plant in Germany to some of its customers in China. Which pricing strategy would help overcome this problem?

Geographic

Reductions for transportation and other costs related to the physical distance between buyer and seller are known as

Geographic pricing

Which of the following is true about non-price competition?

In non-price competition, marketers distinguish their brands with unique product features.

Which of the following is true about price?

It is the only marketing mix variable that can be changed quickly to respond to shifts in demand.

Assisting the producer's customers in selling to those customers is the major purpose of which type of salesperson?

Missionary salesperson

Which of the following is a reason integrated marketing communication is increasingly being accepted?

More precisely targeted promotional tools, like the Internet, are available

Nicole is out shopping with her friends for the day. While evaluating a decision to purchase a handbag, she says, "People notice when you buy the most expensive brand of a product." Nicole is most likely a _____ consumer.

Prestige-sensitive

Advertising, personal selling, sales promotion, and public relations are called

Promotion mix ingredients

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

Public relations

You are the head of marketing for a major oil company based in the United States. Recently, your company was involved in a major oil spill off the coast of Texas where millions of barrels of crude oil were accidentally released into the Gulf of Mexico. The negative publicity for your company has been fast and furious since the spill occurred. However, your company took a very proactive approach in managing the disaster and the resulting publicity. Now your CEO wants to assess how effective the company has been in repairing its image. Which of the following would you recommend to the CEO?

Public relations audit

Which of the following is a key factor used to determine a product's promotion mix

Push and pull channel policies

Scenario 17.1 Use the following to answer the questions. ​ The Toyota Corporation is developing its promotional plan for the coming year and is considering several types of advertising to communicate its messages. Toyota will likely advertise its vehicle, the Venza, on TV, on its website, in major national magazines, and through Facebook. It is possible that the ads could focus on the features of the Venza and its most likely competitor, the Ford Edge. Other forms of advertising that can be considered are ads that feature all of the Toyota brands in a single ad, while mentioning only the Toyota brand and its company's strengths. Finally, Toyota will probably continue to advertise updates of its cash cow brands, the Camry and the hybrid versions of its SUVs. ​ Refer to Scenario 17.1. Advertisements such as the one proposed above for the Camry and hybrid SUVs, are most likely an example of

Reminder advertising

Which of the following is a reason why the use of sales promotion has increase dramatically

Retailers are demanding greater promotional efforts from manufacturers to boost profits.

Which of the following products is most likely to involve personal selling?

Riding lawn mowers

Scenario 16.2 Use the following to answer the questions. ​ The manufacturers of Whizz, a new laundry detergent, are developing their promotional plan for the first year. They know they want to use an integrated communications strategy and are considering the use of advertising through TV and magazines, coupons, public relations, sales promotion, and viral marketing. They are not sure when to use each of these methods however, and have asked for your advice. ​ Refer to Scenario 16.2. If the manufacturers of Whizz were to partner with Whirlpool to place a bottle of Whizz in each new washer that is purchased during the first year, this would be an example of

Sales promotion

Nick is a salesperson for DuPont. His college degree is in engineering, with a minor in physical science. Nick is most likely a(n)

Technical salesperson

You are reading the quarterly financial report of one of your competitors. You expected to see their total sales revenue decline because they had a large price increase during the quarter. You were certain that the price increase would lead to an equivalently large decrease in their total sales revenue. To your surprise, their total sales revenue actually increased in the quarter. Based on this information, which of the following explanations could explain why the competitor's total sales revenue increased?

The demand for the company's products is inelastic, so total sales revenue increases when prices are raised.

Which of the following statements is true about public relations?

The most common publicity-based tool is the news release

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

​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.

Which of the following statements is true about the determination of a specific price for a product?

When no government controls exist, pricing is a flexible way to adjust the marketing mix.

Product placement is the strategic location of products

Within entertainment media content

You are leading a meeting of your marketing team where you are deciding on the promotion mix for your flagship product. You are working your way through the various factors that should be considered when determining an appropriate promotion mix. You are currently focused on the characteristics of your target market. Because of the nature of your product, your target market represents millions of potential customers. Which of the following best describes the appropriate promotion mix for your product?

Your promotion mix should emphasize advertising and sales promotion

Scenario 17.2 Use the following to answer the questions. ​ The State Farm Group includes several companies. Probably the most well-known company in the group is the State Farm Insurance company, the largest auto and home insurer in the United States. State Farm Insurance provides protection for approximately 78 million policies on auto, fire, life, and health services. It is also a leading insurer of homes and autos in Canada. Another company in the State Farm group is the State Farm Bank, which was opened in 2000, beginning State Farm's entry into the financial services field. However, the State Farm Bank is not a traditional bank, in that it has no branch offices and its services are provided through State Farm agents, a call center, the mail, and on the Internet. It currently serves over 1.9 million bank accounts. ​ Refer to Scenario 17.2. If State Farm were to decide that its previous method of appropriating the advertising budget was ineffective, it could decide to allocate 2 percent of its total annual sales to advertising. However, one problem with this method is that

a drop in sales would cause a drop in the advertising budget.

Scenario 19.2 Use the following to answer the questions. ​ The BASF Chemical Company in Germany has developed a new rubberized coating. The product has an application for cell phones and other hand-held electronic devices that gives them protection from falls and scratches. BASF plans to market the product directly to businesses that manufacture the casings for these types of products. BASF currently uses a system of salespeople headquartered in Germany, while its primary business customers are in China. ​ Refer to Scenario 19.2. If BASF were to employ pricing that includes the price at the factory plus freight charges from a chosen point nearest the buyer, this would be an example of ____ pricing.

base-point

Maintaining or increasing market share

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

Scenario 20.1 Use the following to answer the questions. ​ Suppose that Ray-Ban is considering a new line of sunglasses that would be sold in major department stores. The new line would be positioned as a more distinctive brand than the typical glasses sold through department stores, and would be priced higher than other brands in the store, but a lower price line than the current Ray-Ban lines that are sold through more selective stores. In determining the price for this sunglass line, Ray-Ban wants to gather information about all brands sold in department stores and about customers' perceptions of those brands. ​ Refer to Scenario 20.1. Ray-Ban's plan of gathering information about the other brands sold in department stores, including their prices, would most likely be used in a ____ basis for pricing.

competition

After the advertising budget is determined, the next step in creating an advertising campaign is

developing the media plan.

Nabisco is considering two pricing objectives. The first is to sell one out of every three crackers consumed in the world, an objective based on _______; the second is to meet, but not beat, competitor's prices of cookie products, which is a _____ objective.

market share; status quo.

Products such as light bulbs, canned soft drinks, and ice cream sandwiches are usually priced using ______ usually resulting in a ____

multiple-unit pricing; lower per unit price

___ is anything that reduces an integrated marketing communication's clarity and accuracy

noise

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

Realizing that her firm's sales promotion budget was small and cut by 30 percent for the coming year, Stacey Baronas rules out ____ as playing a role in her sales promotion plan.

samples

When marginal cost is equal to marginal revenue, the firm should

stop producing additional units to maximize profits.

The cost per thousand (CPM) indicator shows

the cost to expose 1,000 people to a one-page magazine advertisement