MRKT_finalQuestions

56) For which of the following products would the intensive distribution strategy most likely be used? A) high-end cameras B) luxury cars C) lawn mowers D) soft drinks

D) soft drinks

12) Which of the following is the most frequently visited type of retail store? A) convenience store B) department store C) superstore D) supermarket E) off-price retailer

D) supermarket

15) A marketing channel which consists of one or more intermediaries is known as a(n) ________ marketing channel. A) cyclic B) upstream C) looped D) direct E) indirect

E) indirect

25) ________ are two or more outlets that are commonly owned and controlled. A) Corporate chains B) Convenience stores C) Off-price retailers D) Independent off-price retailers E) Power centers

A) Corporate chains (Sears, Target, and Kroger)

15) Which type of store carries a deep assortment of a particular product line, has knowledgeable staff, and can be viewed as a giant specialty store? A) category killer B) convenience store C) factory outlet D) warehouse club

A) category killer (Home Depot and PetSmart)

Which of the following promotion categories is most likely to include the use of displays, discounts, coupons, and demonstrations? A) sales promotion B) direct marketing C) horizontal diversification D) public relations

A) sales promotion

By definition, ________ is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost. A) segmented pricing B) variable pricing C) flexible pricing D) cost-plus pricing E) reference pricing

A) segmented pricing

31) Which of the following is true of conventional distribution channels? A) Channel members have complete control over each other. B) Channel members seek to maximize their own profits. C) Channel conflict is governed by formal mechanisms. D) Channel members are assigned roles according to a clearly defined framework. E) Channel members work exclusively for the good of the organization.

B) Channel members seek to maximize their own profits.

55) ________ distribution is a strategy in which producers of convenience products and raw materials stock their products in as many outlets as possible. A) Direct B) Intensive C) Inclusive D) Exclusive E) Selective

B) Intensive

18) Which of the following is true of optional product pricing? A) It involves capitalizing on low value by-products. B) It involves pricing accessory products sold with the main product C) It is used to price a company's main product. D) It involves setting geographically-specific prices. E) It is used to price products that must be used with the company's main product.

B) It involves pricing accessory products sold with the main product

16) Which of the following companies uses product line pricing? A) Photo Genie, which sells inexpensive cameras that run only on their own expensive batteries B) Mobile Point, which launched a range of cell phone models, each priced according to its features C) Penguin's Parlor, which offers customers a 20% discount on their birthdays and certain holidays D) Green Thumb, which gives away free watering cans with the purchase of certain potted plants

B) Mobile Point, which launched a range of cell phone models, each priced according to its features

In recent years, service differentiation among retailers has ________. A) increased at a steady rate B) decreased C) stayed the same D) increased exponentially

B) decreased

The Bookworm began delivering books directly to customers through mail instead of selling through "brick-and-mortar" companies. This is an example of ________. A) indirect marketing B) disintermediation C) franchising D) exclusive distribution E) intensive distribution

B) disintermediation

51) Segmented pricing is only effective when ________. A) the segments show similar degrees of demand B) the cost of segmenting does not exceed the revenue obtained from the price difference C) the segmented prices do not reflect real differences in customers' perceived value D) the customers of different socio-economic classes are treated according to their rank E) companies make their services and products accessible exclusively to wealthy patrons

B) the cost of segmenting does not exceed the revenue obtained from the price difference

32) A(n) ________ marketing system consists of producers, wholesalers, and retailers acting as a unified system. A) horizontal B) vertical C) multitiered D) communal

B) vertical

________ retailers in the United States are growing faster than product retailers. A) Discount B) Merchant C) Service D) Specialty E) Off-price

C) Service

35) An ideal price policy scenario for retailers would be to achieve ________ while charging ________. A) low volume; high markups B) low volume; low markups C) high volume; high markups D) high volume; low markups E) high volume; zero markups

C) high volume; high markups

22) In the case of services, captive product pricing is called ________ pricing. A) by-product B) optional product C) two-part D) bundle

C) two-part

11) ________ are facing slow sales growth because of slower population growth, increased competition, and the rapid growth of out-of-home eating. A) Warehouse clubs B) Off-price retailers C) Discount stores D) Supermarkets E) Factory outlets

D) Supermarkets

20) Which of the following is an indirect business marketing channel? A) producer to retailer to business distributor B) producer to wholesaler to retailer to end-consumer C) producer to end-consumer to business distributor D) producer to retailer E) producer to business distributor to business customer

E) producer to business distributor to business customer