Marketing Management Exam

Allowance

A car dealership receives a bonus from the manufacturer if it sells more hybrid cars than it did the previous year. This is called

transfer possession of a product from producer to consumer

A channel of distribution consists of interdependent entities that

predatory pricing

A strategy to intentionally sell below cost to push a competitor out of a market, then raise prices to new highs, is called

Supply Chain

A(n) represents all organizations involved in providing a firm, the members of its channels of distribution, and its end-user consumers and business users.

Attention

At the stage of the AIDA model, marketing managers use promotions to gain awareness of the offering with the market's innovators and early adopters.

Retailing

is any business activity that creates value in the delivery of goods and services to consumers for their personal, nonbusiness consumption.

Following up with customers

is the last stage of the personal selling process.

Viral Marketing

is the process of creating a video clip, image, message, e-book, or some other content in an effort to have the media passed on by individuals in a social network or by word-of-mouth.

Frequency

measures the average number of times a person in a target market is exposed to a particular message.

Earned

media refers to a customer or commercial entity choosing to act as a marketing communication channel for the organization at no cost.

Comparative

advertising is common during the maturity stage of the product life cycle, but you should avoid this if your brand is the leader.

Prestige Pricing

affords the marketing manager an opportunity to develop a rational pricing strategy across a complete line of related items.

Product Line Pricing

affords the marketing manager an opportunity to develop a rational pricing strategy across a complete line of related items.

Minimum Markup Laws

require that a certain percentage markup be applied to all products.

Fixed; variable

costs are incurred over time, regardless of lume, whereas - costs fluctuate with volume.

Exclusive

distribution is often part of an overall positioning strategy built on prestige, scarcity, and premium pricing.

Pioneering

From an AIDA model perspective, - advertising seeks to gain awareness and initial interest and is used mostly in the early growth stages of a product.

members of the channel who are targeted for promotion

In a push strategy, the focus is on

price skimming

In proposing a ____ strategy, the marketing manager usually is convinced that a strong price-quality relationship exists for the product.

Penetration Pricing

Sometimes referred to as pricing for maximum market share, can create a market entry barrier for other firms.

Promotion

The means by which one informs, persuades, or reminds potential customers is called

Product Advertising

The vast majority of advertising is advertising.

ability to tailor the message

What is a distinct advantage of personal selling over the other marketing communication methods?

Develop the message.

What is the final element the marketing manager should implement in promotional strategy?

Referent

When a channel member is respected, admired, or revered based on one or more attributes, that member enjoys _ power within the channel.

FOB-destination

Which free on board (FOB) pricing indicates that until the goods arrive at the purchaser's location, title doesn't change hands and freight charges are the responsibility of the seller?