mktg exam 4 quizzes
Sharese wants to buy a new couch, but there is only one place in her town that sells them, and she lives in an isolated area. Sharese most likely feels her consumer right to ______ has been violated
choose
information about competitors prices is often a
closely guarded secret
____ are formalized rules and standards that describe what a company expects of its employees in terms of ethical behavior.
codes of conduct
Codes of conduct are also frequntly know as
codes of ethics
According to some environmentalists, what are the three types of products that all products should be reduced to?
consumables, durable goods, and unsalables
In the distribution channel for Domino's Pizza, channel members are linked by legal agreements that spell out the obligations and rights of each member. This is an example of a(n) ____ vertical marketing system.
contractual
The major levels of intensity at which a company can choose to distribute its products are ____ distribution
exclusive, selective and intensive
Ethical choices in business situations are most often made
jointly in work groups and commitees
value is a combination of
price and quality
Levitz Furniture locates in huge, low-cost buildings; maintains large, on-premises inventories; and offers minimum service. Levitz is a
warehouse showroom
Which of the following physical distribution functions involves design and operation of facilities for storing goods?
warehousing
opportunity provides a pressure that may determine ethical decisions in marketing. opportunity is best though as a
favorable set of conditions that limit barriers or provide rewards
Which of the following characterisitics is unique to pricing more so than the other variables of the marketing mix
flexibility
The government has provided tax credits toward individuals who purchase electric vehicles. This is an attempt to do which of the following?
make prices reflect the cost
The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders is called
marketing citizenship
the adoption of a strategic focus for fulfilling the economic, legal, ethical and philanthropic social responsibilities expected by stakeholders is called
marketing citizenship
Apple makes its computers available through its own stores, its website and some major retailers. This is an example of
multichannel distribution
Many companies use more than one marketing channel to distribute their products to the same target market, a tactic called
multichannel distribution
Marketers at organizations engaged in nonprice competition
need competitive price information to make sure that their products are priced at approximately the same level as the prices of competing brands
A problem associated with ___ is that consumers can predict when prices will be lowered and delay purchases until that time
periodic discounting
The white sale that many department stores have every year a few weeks after christmas is an example of
periodic discounting
while marketing ethics creates _____ philanthropic activites create ________
trust, goodwill
Piggyback, fishyback and birdyback are terms usually associated with gaining efficiency in shipping through
containerization
When channel members are linked by legal agreements that specify each members rights and responsibilities ______ exists
contractual VMS
if purina forced krogers grocery chain to place all of it products in the stores most favorable locations it would be
exercising channel power
Organizational buyers are especially partial to direct marketing channels when
expensive and/or complex equipment is involved
Competitors' prices, along with the marketing variables they emphasize, are determining factors in
how important price will be to customers.
After shopping in the same store for nearly two hours, Chelsea goes to Burger King for a Whopper, while Cynthia goes to the optical shop to see if her contacts are ready. They engage in these activities without leaving the store in which they have been shopping. They are most likely in a
hypermarket
Lulu is a retailer based in the United Arab Emirates. It is a very large store with departments that include digital, food and grocery, fashion and lifestle and home decor and household. It owns a variety of its own brands in the grocery categories such as Lulu corn flakes and lulu cream cheese spread. The majority of space goes toward grocery products, but it sells everything form nail polish to cameras. Lulu would most likely be classified as a
hypermarket
who drafted the consumer bill of rights
john f kennedy
McDonald's supports and funds Ronald McDonald houses for the families of terminally-ill children to stay in to be near their loved ones. McDonald's action demonstrates the fulfillment of ____ responsibility.
philanthropic
Channel stuffing
practice of inflating sales and earning
If norelco introduced a new elctric razor that sonically removes hair and priced it first at $175 and then at $150 before reducing the price to $100, the firms initial pricing strategy is known as
price skimming
Clearchem is a producer of chemicals used in car detailing and painting. Because of the volatility of their chemical products when exposed to dirt and heat. ClearChem operates its own facilities for storing and shipping its products. ClearChem's facilities are most likely known as
private warehouses
The pricing of Clinique makeup, which is considerably higher than brands such as Cover Girl, Revlon, and Maybelline, is used to communicate ____, which is the company's primary pricing objective
product quality
Which of the following is the best example of strategic philathropy for staples, the large office supply chain
providing low income families with school supplies and computer training
When a satellite dish company uses bundling to combine phoe, dish, and broadband internet access prices, it is attempting to influence a consumers perception of price to make a products price more attractive and reduce sticker shock. This is an example of using a _____ pricing strategy
psychological
Fiona is employed by Hallmark cards Inc, where her responsibilities include maintaining displays of greeting cards in drugstores and discount stores. Her daily activities include straightening the cards, pulling outdated or slow sellers, and installing new cards. Fiona is called a
rack jobber
_____________ is pricing a product at a moderate level and positioning it next to a more expensive model or brand.
reference pricing
Any constituent who has a claim in some aspect of a company's products, operations, markets, industry, or outcomes is known as a(n)
stakeholder
what type of pricing objective would an organization use if it were in a favorable position and desired nothing more
status quo
The notion of physical distribution is
the movement of products from producers to end users
Multichannel distribution is characterized as
the use of a variety of marketing channels to ensure maximum distribution
when considering the best channel to use, all of the following are true with regard to larger firms except
they may be better suited to serve customers in a particular region
madison is responsible for the freight transportation of products sold by richland tech, a producer of cooking oils sold to large institutions. Since madison needs to schedule freight transportation with the mode that provides the most fleible schedules and routes, which of the following should she use>
trucks
Kawasaki places several motorcylces in "pods" in order to load the efficiently using forklifts. This system of materials handling is called
unit loading
By buying in large quantities and delivering to customers in smaller lots, a wholesaler may perform all of the following physical distributions activities except
unit pricing
by uying in large quantities and delivering to customers in smaller lots, a wholesaler may perform all of the following physical distribution activities except
unit pricing
How does social responsibility differ from ethics>
It deals with the total effect of marketing decisions on society
Kohls pays 16.50 for a six ounce bottle of cologne and sells it for 25.95. Its markup as a percentafe of cost is approximately _% for this product
57
____ promote ethical behavior by reducing opportunities for unethical behavior; employees know what is expected of them and what kind of punishment follows if rules are violated
Codes of conduct
the local oak restaurant offers dinner specials daily priced at $8 each and typically prepares 50 units of the special entree. The restaurant knows that at $8 all 50 of the entrees will be sold and some customers who arrive later in the evening may not be able to get the special. What type of pricing is the Local Oak Restaurant implementing
Demand
Department stores such as Kohl's and Macy's are interested in learning how much their competitors are charging for similar merchandise. Which of the following practices might these retailers utilize to identify competitors' prices?
Employing comparative shoppers who systematically collect data on prices at competing stores
which of the following statements is false
Social responsibility and marketing ethics are the same thing and can be used interchangeably
which of the following is true about social responsibility>
Social responsibility improves marketing performance
Maintaining a certain market share, meeting competitors prices, maintainging a favorable image, and achieving price stability are all associated with a _____ pricing objective
Status quo
which of the following is not an advantage of franchising for the franchisee?
The franchisee gives up a certain amount of control when participating in a franchise agreement
Which of the following is not an advantage of franchising for the franchise
The franshisee gives up a certain amount of control when participating in a franchise agreement
projects involving custom made products such as a custom motorcycle would most likely employ cost plus pricing where
a percentages is applied to the cost of materials determine the price
redbox, proactiv, and clinique all sell their products through automatic vending which is
a type of nonstore reatiling
Kolder Inc. is using a new just-in-time inventory management system that requires ordering smaller quantities of parts more frequently. The success of its business depends significantly on receiving these parts very quickly, so like many other companies using just-in-time, Kolder Inc. is relying more on the ____ mode of transportation despite its expense.
airway
While on their family vacation, the millers realize they left their camera at home. They purchase a disposable camera at an amusement park using their credit card, but never interact with a person. What type of retailing did this transaction most likely involve>
automatic vending
Some grocery stores collect data on competitive prices
by using full-time comparison shoppers.
Maintaining or increasing market share
can be achieved even if industry sales are flat or decreasing
many fashion or trendy products are expected to have a relatively short product life cycle and managers seek to recover cash as quickly as possible. Which pricing objective would be most appropriate for fashion or trendy products
cash flow
the limited, which produces and reatils clothing products in a coordinated channel, is an example of an
corporate vertical marketing system
off-price reatilers feature
deep discounts, few customer services, and central checkouts
Off-price retailers feature
deep discounts, few customer services, and central checkouts.
Which of the following is true about assumptions related to a price skimming strategy
demand for the product is inelastic
If a store has areas for mens apparel, womens apparel, houseware, cosmetics and jewelry and competes mostly on the basis of service, it is most likely a
department store
When off-price retailers obtain too much in season, high quality merchandise, tension between them and ___ builds
department stores
when estabilishing prices, a marketers first step is to
develop pricing objectives
The fact that senior citizens are charged a lower price at movie theaters than younger adults is an example of ____ pricing
differential
the three major types of nonstore retailing are
direct marketing, direct selling, and automatic vending
Self-Service, general merchandise stores such as kmart are known as
discount stores
In Europe, companies can voluntarily apply for a designation to indicate that their product is less harmful to the environment than competing products. This label is known as the
eco-label
Facing competition from walmart as a low cost retailer, target has updated its ____ to be a mass merchandiser of inexpensive yet chic goods. To accomplish this, it has entered into design parttnerships to offer low cost foods made by famous designers
retail positioning
After direct marketing, the next slightly longer marketing channel adds a(n)
retailer
Walmart, Macy's, Nordstrom, and Toys 'R' Us are examples of
retailers
Direct selling, direct marketing, and vending machines are all examples of
retailing
_____ pricing objectives generally require some amount of trial and error since not all data and inputs are available when first setting prices
return on investment
Using only some of the available outlets to distribute a product is called
selective distribution
Honeybees are disappearing at an alarming rate, and since they pollinate about a third of all foods we eat, it is an important concern. Thats why haagen dazs launched a microsite to increase the awareness of the issue. In addition it lauch a twitcause campaign on twitter raising 7000 is two days. This example illustrates the postive consequence of
social responsibility
A narrow product mix with a deep product line would most likely be carried by
specialty retailiers
Gavin is trying to come up with a pricing strategy for his store. he greatly admires walmart and is considering adopting an everyday low price strategy. However, he is concerned because he believes that consumers might then view his product as being of low quality. At what stage of the process is gavin currently at as he is trying to establish prices
step 2: assessment of the target markets evaluation of price
which of the following is not a dimension of social responsibility and marketing citizenship
technological
in an administered VMS informal coordination brings about a high level of inter organizational management. Nonetheless
the channel members reamin autonomous
How would most marketers most likely benefit from the consumers right to be heard
the company can use the information to make its products better
demand based pricing is best used when
the company has a fixed amount of available resources that are perishable
You are head of sales and marketing for your firm, and you are meeting with the CEO to establish pricing objectives for the upcoming product year. Which of the following factors are you going to consider as you establlish your firms pricing objectives
the firms survival