Marketing Unit 3
what acronym describes the incredibly short window of three to five seconds after a shopper first encounters a product on a store shelf?
FMOT
of all the various platforms for social media marking, surveys indicate 96% of B2C respondents say their business uses which one as a marketing tool?
In the development phase of website design, which is the first page that is typically created?
Home page
which of the following is not an element of the promotion mix
Internet Ordering
Those activities that focus on delivering the right product, to the right place, to the right customer, at the right time right quantity, in the right condition, and at the right price is referred to as
Logistics
which of the following statements reflects the underlying philosophy behind the concept of supply chain management?
No company is an island
the boating industry suffered from a decline in sales. however recent sales forecasts indicate that the upcoming season will produce a strong demand for boats and boating equipment. based on this Les has decided to ramp up production this winter of both bass fishing boats and speed boats. This is an example of
Push strategey
Compare the various modes of transportation. Which one has a low cost, and very high capacity, but is slow in delivery?
Water transportation
a new specialty tea shop opened up in town. In order to lure customers into the store, the owners sent their most popular tea bag to 5,000 potential customers. This is an example of
a sample
an image or line of text that prompts visitiors, leads, and customers to perform a desired action is referred to as a call to
action
nonpersonal promotional communication about goods, services, or ideas that is paid for
advertising
traditionally the biggest disadvantage of radio advertising has been that radio ads
are audio only
as a sales promotion tactic, why do marketers prefer using rebates?
because customers often fail to redeem them
according to our text, one of the most common mistakes in modern pricing is
charging someone less than they are willing to pay
direct marketing refers to advertising that
communicates directing with consumer and organizations in an effort to provoke a response
one of the most commonly used pricing tactics, markup pricing, is also referred to as
cost plus pricing
Intermediaries through which the flow of products travels are called
distribution channels
for the first quarter of the year, the price of the company's most popular e-reader was $129.00. The company sold 750,000 units at this price. For the second quarter the company decided to reduce the price of the e-reader to $109. At this price point, the company sold 1.5 million units indicating that demand for the product is
elastic
data management systems that integrate information across all the departments of an organization are called
enterprise resource planning systems (ERP)
by interacting with the customers in a fun, helpful, and interesting manner, social media can help build a successful brand in two main ways: by allowing the firm to develop deeper relationships with customers and by:
generating positive word of mouth communication about the brand
what type of advertising attempts to develop initial demand for a product
informative
Mars, Inc. makers of snickers candy bars launched its You're not you when you're hungry promotion campaign. this type of promotional strategy is referred to as
integrated marketing communications
a British company manufacutures specialty teas and sells them to a retailer in Colorado. They ship it via ocean liner to a port off of the gulf of mexico. this is an example of
intermodal transportation
one advantage to using magazines as an advertising medium is
its ability to target specific audiences
Foursquare and Godwall are two types of
location based apps
the process of getting more traffic based on higher ranking of free or "organic" search results on search engines is referred to as search engine
optimization
volume maximization is also refered to as
penetration pricing
the two-way flow of communication between a salesperson and a customer that is paid for by the firm and seeks to influence the customer's purchase decision is referred to as
personal selling
the amount of something (money, time, or effort) that a buyer exchanges with a seller to obtain a product is referred to in marketing terms as a
price
when sony launched its new PS4 gaming system, the product was sold as a package that included the game console, game controllers, wireless headset, and one video game. This is called
price bundling
located on a college campus bens burger barn charges $4.99 for its burger basket. however students recieve a 10% discount off the price for showing their ID this is an example of
price discrimination
the three largest manufacturers of solenoid valves for plumbing applications conspire together so that all three firms would charge the same price for a 3-way valve. this is an example of
price fixing
when apple released its first iphone in 2007, it charged customers $599 shortly it reduced the price to $399 what is this called?
profit maximization
the marketing mix element where most of the organization's communications with the marketplace occurs is
promotion
damages, inconsistent service and lack of accessibility are all disadvantages of
rail transportation
which of the following is not an outcome of providing more responsive customer care?
reduced competition
Which element of the promotion mix refers to the set of non-personal communication tools designed to stimulate quicker and more frequent purchases of a product
sales promotion
Sunny Pines campground, located in the midwest, promotes the months of September-October as its value camping months. They reduce the rates on camper rentals and campgrounds. This is an example of
seasonal discounts
social media monitoring is also known as
social listening
Internet-based applications that enable users to create their own content and share it with others who access these sites are referred to as
social media
a commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own needs is referred to as
sustainability
Which of the following is not one of the phases of the website design (or redesign) process?
synchronizing
high cost is the biggest disadvantage to which form of advertising?
television
what is marginal revenue?
the change in total revenue that results from selling one additional unit of a product
Which of the following accurately describes break-even analysis?
the process of calculating the point at which fixed costs and variable costs are equal
a supply chain refers to
the set of three or more companies directly linked by one or more of the upstream and downstream flows of products, services, finances, and information from a source to a customer
what is the major disadvantage of publicity as a promotion mix tool?
there is less control over how the information is presented
a company that outsources some or all of its logistics activities to other companies is engaged in
third party logistics
according to your text, the ultimate objective of supply chain management is
to integrate the activities of related companies so they function as one extended enterprise
search engines create an index of all web content by using automated software programs are called
web crawlers