Marketing Exam 2 ****

Which of the following would be considered an upstream partner in a company's supply chain?

a firm that provides technical expertise in the production of a product

Los amigos, a new mexican restaurant has set up shops across the street from Hot Tamales and More. Which one of the following pricing strategies will Los Amigos likely use?

competition based

In a production mix, _______ involves personally connecting with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships

direct marketing

the number of products supplied indicates length of a channel

false

the greater the number of channel levels in a marketing channel the ___

greater the channel complexity

Which of the following is the 1st step in developing an advertising program?

setting adv objectives

Food International is developing a new gluten-free, chili flavored pretzel. The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standings. Once approved, the next step will most likely be:

test marketing

A ____ consists of producers, wholesalers, and retailers acting as a unified system. The system can be dominated by any one of the interdependent members

vertical marketing system

which of the following is an example of an indirect marketing channel?

wine & dine, which sells its picnic baskets to select novelty stores across the country

Performance INC sells its newest athletic shoe styles to the Sneaker Store and distributes dated or slightly defective merch thorugh Sports Dicounters. Performance Incs main competitor is Topnotch. Performance inc also markets its products through the company website. They decide to offer the short term online promotion to encourage consumers to buy their newest athletic shoes, promoting a 20% discount off current retail prices. In such a distribution channel, which would be considered a vertical conflict?

A conflict between performance inc and the sneaker store

Acquisitions do not include ___

Developing the product

Which statement is most likely true about idea generation in the new product development process?

Idea generation is usually followed by procedures that reduce the total number of ideas

Which of the following applies to a marketing intermediary who buys brand name toothpaste from 10 different manufacturers, consolidates offerings, and then resells the various brands to 500 supermarkets in FL?

Transform the assortments of products made by producers into the assortments wanted by consumers

Lovely Skin is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The company has decided to add $1.50 markup so the unit price to distributors will be $5. Lovely Skin is using the ___ approach to price the new moisturizer.

cost plus

Kallton is a multinational communications and info tech corp, its principal products are mobile telephones and tablets, it recently announced on its website that customers can suggest ideas for the upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Kallton using ___ to generate new product ideas

crowdsourcing

With each new generation of Apple Iphone, Ipad, or Mac computer, new models start at a high price then work their way down as newer models are introduced. Apple initially uses a ___ strategy

market skimming

Victoria's Closet, a manufacturer of bohemian-style clothing, sells its products through its online website, a catalog, and boutiques that target women. Which kind of channel arraignment do they employ to distribute its products?

multichannel distribution system

In a market communications mix, _____ refers to any short-term incentive that encourages the purchase or sale of a product or service

sales promotion

Karen Dodd is employed by Dell and responsible for calling on primary schools in her home state of Maine to promote the company offerings. She demonstrates the Dell line of products including desktop computers, laptops, and tablets and fields questions from teachers and administrators alike. This is an example of which promotion tool?

personal selling

A detailed version of a product idea stated in meaningful consumer terms is a ___

product concept

A ___ pricing strategy for an offering begins with an assessment of customer needs and perceptions. The target price is set based on customer perceptions of worth

value-based