ba 390 final practice

Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.

acquisition

amazon, ebay, and geico approach customers via web sites or mobile apps. This is an example of

direct marketing

which of the following is one of the 5 major promotion tools?

direct marketing

which of the following statements is true of direct marketing

direct marketing offers sellers a low cost alternative for reaching their markets

which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers

downstream partners

___________ are retailers that offer sales assistance because they carry more shopping goods about which customers might need information

limited service retailers

all of the following are benefits of online direct marketing for buyers except

live product demonstrations

___________ involves using in store promotions and advertising to extend brand equity to "the last mile" and encourage favorable point of purchase decisions

shopper marketing

Companies set not a single price, but a pricing ________ which covers different items in its line and changes over time as products move through their life cycles.

structure

The term "demand chain" is considered limited because it ________.

takes a step-by-step, linear view of purchase-production-consumption activities

Acquisition refers to

the buying of a whole company, a patent, or a license to produce someone else's product

A company's total marketing communications mix consists of a special blend of advertising, sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to communicate customer value and build customer relationships. Which of the following terms best describes this communications mix?

the promotion mix

which of the following is true of value based pricing?

the targeted value and price drive decisions about what costs can be incurred and the resulting product design

The sets of firms that supply companies with the raw materials, components, parts, information, finances, and expertise needed to create products or services are known as ________.

upstream partners

a _____________ is made up of the company, suppliers, distributors, and customers who partner with each other to improve the performance of the entire system

value delivery network

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________.

advertising

competitive parity and task methods are considered when making decisions about

budget

advertising is used mostly by

business firms

gaining ________ requires delivering more value and satisfaction to target consumers than competitors do

competitive advantage

Champion, Inc. is a manufacturer of lunch boxes, school bags, and school stationery. Charles Payton, the CEO of Champion, hopes to sell the products at a low price to penetrate the market quickly. Which of the following best supports a market-penetration strategy for Champion? 3) strategies that strongly position the company against competitors and that give the company the best possible strategic advantage are _________ strategies

competitive marketing

Champion, Inc. is a manufacturer of lunch boxes, school bags, and school stationery. Charles Payton, the CEO of Champion, hopes to sell the products at a low price to penetrate the market quickly. Which of the following best supports a market-penetration strategy for Champion? 2) ____________ involves first identifying and assessing competitors and then selecting which competitors to attack or aviod

competitor analysis

the first step in initiating competitive marketing strategies is to

conduct competitor analysis

____________ pricing uses buyers perceptions of value as the key pricing

customer value based

Midnight Magic, a perfume manufacturing company, plans to release a new fragrance during the holiday season at $99 per bottle. The company intends to bring the price down to $49 within six months of its release to attract buyers who couldn't afford the initial price. Which of the following pricing strategies is Midnight Magic using?

market - skimming pricing

companies facing the challenge of setting prices for the first time can choose between two broad strategies: market- penetration pricing and __________

market - skimming pricing

Companies which set a low price for a new product in order to attract a large number of buyers and a large market share are using the ________ strategy.

market penetration pricing

the decisions about reach, frequency, and impact of an advertisement fall into the category of ___________ decisions

media

Which of the following is a significant challenge presented by the product life cycle?

new product development

product improvements, product modifications and original products can all be classified as ____________

new products

Champion, Inc. is a manufacturer of lunch boxes, school bags, and school stationery. Charles Payton, the CEO of Champion, hopes to sell the products at a low price to penetrate the market quickly. Which of the following best supports a market-penetration strategy for Champion? 1) a competitor analysis requires the assessment of all of the following except the competitors _____________?

organizational hierarchy

which of the following is true with regard to personal selling?

personal selling entails personal presentations by a firms sales force for the purpose of making sales and building customer relationships

___________ refers to the amount of money charged for a product or service

price

____________ is the only element in the marketing mix that produces revenue

price

____________ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use

retailing

The use of short-term incentives to encourage the purchase or sale of a product or service is called ________.

sales promotion

A(n) __________ is an individual who represents a company to customers by prospecting, communicating, selling, servicing, information gathering, and/or relationship building

salesperson

which of the following is true about the sales force of a company?

salesperson represent customers to the company and manage the buyer seller relationship

__________ is a type of service offered by those retailers who serve customers that are willing to perform their own "locate compare select" process in order to save money

self service