marketing quizzes

Bob owns several successful printing stores across the midwest, he recently noticed many other printing stores opening up. To combat this, Bob has decided to charge very little for his black and white copies, the price is so low his competitors will be out of business. After the companies are out of business, Bob will raise the prices back. Bob is engaging in the illegal process of _____?

predatory pricing

Sampling is a good strategy for products with what quality?

products in the instroductory stage of the product life cycle

The cash payment or extra amount of free goods awarded sellers in the channel of distribution for undertaking certain advertising or selling activities to promote the product is called?

promotional allowance

transactional web sites are used less frequently by manufacturers of consumer products because?

there is a threat of channel conflict

Why would a product in the maturity stage use advertising?

to remind buyers of their existence

If you buy five shrubs in five separate orders the cost is $100, but if you order the assortment package as one order, the cost is $80. The shrub company uses what kind of pricing?

Bundle pricing

The average number of times a person in the target audience is exposed to a message or advertisement is called. A. Parity b. user friendliness c. frequency d gross rating points

C frequency

A low cost airline enters a market and and offers flights at a much lower price, after this the major airline will cut its prices to similar or even lower prices, hoping to drive the smaller, lower costing airline out of the market. This is an example of the company failing to consider _____ effects when planning its strategy?

Competitive effects

To increase demand for complementary products, the price of a product must often be. A. Marked up B. Marked Down c. off priced d. value added

D value added

Netflix used to charge 15 dollars a month for movie rental service. But when Blockbuster introduced the same service at a lower price (12), Netflix dropped their price to 12 as well. Netflix most likely made this price reduction in an attempt to ______?

Maintain market share

What promotional mix alternative has the advantagege of allowing the seller to see and hear the potential buyers reaction to the message?

Personal selling

In Denver there was a water shortage, and even though most people used less water the price did not go down. In fact, when the drought was over, the water company actually raised their prices. The residents did not change the amount of water they used. This means water is _______?

Price inelastic

What is odd even pricing?

Setting prices a few dollars or cents under an even number

When hunter went to the store, he bought one pair of white gloves. When the store bought the gloves, they bought them in a package of 100. What logistical function did the hardware store perform for Hunter?

Sorting

How does a supply chain differ from a marketing channel?

Supply chain includes suppliers, marketing channels do not

What is the downside of using humorous appeals in advertising?

They wear out quickly and are boring to consumers

The ratio of perceived benefits to price is called ______?

Value

Retailer refers to?

an intermediary who sells to consumers

Porters four generic business strategies involve combos of ______ and a stress on costs versus product differentiation?

competitive scope of the breadth of the target markets

What is the key difference between merchant wholesalers and agents and brokers?

merchant wholesalers take title to merchandise and agents and brokers do not

Acceptance of various forms of payment provides consumers with _____ utility?

posession