MRKT Exam

Which of the following is one of the five major promotion tools?

direct and digital marketing

As production moves up, the average cost per unit decreases because ________.

fixed costs are spread over more units

_________ were the main form of retail clusters until the 1950s.

Central business districts

HP's advertising agency assembles words and illustrations into an advertisement that will convey the company's intended brand message. In the communication process, HP is ________.

Encoding

Extel Inc., a home appliance manufacturer, uses sales representatives to sell its products to wholesalers and individual customers. This is an example of ________.

Personal selling

_________ is the only element in the marketing mix that produces revenue.

Price

Which of the following is true of vertical marketing systems?

Producers, wholesalers, and retailers act as a unified system

Under ________, the market consists of many buyers and sellers trading in a uniform commodity.

Pure competition

Costs that change with the level of production are referred to as __________.

Variable costs

Home Depot and PetSmart are examples of ________.

category killers

A _________ is a small store, located near a residential are that is open long hours seen days a week and carries a limited line of high-turnover goods

convenience store

What sets the ceiling for product prices?

customer perceptions of the product's value

Which type of store carries a wide variety of product lines and has been squeezed in recent years between more focused and flexible specialty stores on the one hand and more efficient, lower-priced discounters on the other?

department stores

A manufacturing plant is designed to produce 2000 flat-screen TVs per day. But demand is higher than that. If the company tries to increase its production to 2500 TVs per day, the average costs will ________ because ________.

increase; the plant becomes inefficient

Delia's is a clothing retailer that targets teenage girls. It runs coordinated promotions for its catalogs, Web site, and retail outlets. It uses the same models in its catalog and in its print ads as well as on its Web site. Delia's works to make sure its public relations activities as well as its sales promotions harmonize with its advertising in all venues. From this information, you can infer that Delia's is using ________.

integrated marketing communication

Cost-plus pricing

involves adding a standard markup for profit

For which product would a company use an exclusive distribution strategy?

luxury cars

A _________ is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.

marketing channel

From the economic system's point of view, the role of ______________ is to transform the assortment of products made by producers into the assortment of products wanted by consumers.

marketing intermediaries

Companies that purse a clear strategy will likely perform well. Firms that do not pursue a clear strategy are called _______ .

middle-of-the-roaders

According to Michael Porter, what are three effective competitive positioning strategies?

overall cost​ leadership, differentiation, and focus

For which of the following products would the intensive distribution strategy most likely be used?

soft drinks

Factors a company considers in setting its price include all of the following EXCEPT ________.

value of the product on the pre-owned market

Conflict that occurs between different levels of the same marketing channel is known as _________ conflict.

vertical