BUS 306 Final Exam
Sales promotions are targeted toward members of the sales force, business customers, retailers, wholesalers, and ________. final buyers employees manufacturers suppliers upstream companies
final buyers
Which of the following steps in the selling process is most focused on ensuring customer satisfaction and repeat business? preapproach demonstration handling objections qualifying prospects follow-up
follow-up
When a company makes marketing decisions by considering consumers' wants and interests, the company's requirements, and society's long-run interests, it is practicing ________ marketing. value societal sense-of-mission consumer-oriented customer-value
societal
Deceptive practices fall into three groups: pricing, promotion, and ________. product placement packaging publicity service
packaging
Which message execution style depicts average people using a product in an everyday setting? lifestyle testimonial evidence slice of life scientific evidence personality symbol
slice of life
To communicate effectively, a marketing communicator should most likely ________. ensure that the encoding and decoding processes are different encode and decode the message personally and frequently understand the consumer's field of experience foresee unplanned static or distortion use familiar words and symbols
understand the consumer's field of experience
Nonpersonal communication channels include major media, ________, and events. sales calls atmospheres buzz marketing word-of-mouth influence phone calls
atmospheres
Companies that adopt value-added pricing ________. consider value-added features as a fitting substitute for aggressive cost cutting set incredibly low prices to meet competition attach value-added features and services to differentiate their offers and support their higher prices overprice their products without any apparent justification underprice their products and lower quality to boost demand in the short-run
attach value-added features and services to differentiate their offers and support their higher prices
advertising that is used when introducing a new product category to build primary demand
informative advertising
Questions a company should consider if a competitor initiates a price change include all of the following EXCEPT ________. "Are other competitors going to respond?" "What will happen to the company's market share if it does not respond?" "Is the price change temporary or permanent?" "Why did the competitor change the price?" "How can we improve our product?"
"How can we improve our product?"
major steps in advertising media selection
1. Determining reach, frequency, impact, and engagement 2. Choosing among major media types 3. Selecting specific media vehicles 4. Choosing media timing
________ VMS is a vertical marketing system that coordinates successive stages of production and distribution through the size and power of one of the parties. Contingent Aligned Corporate Contractual Administered
Administered
The BRICS countries are ________. Bolivia, the Republic of Haiti, Israel, and Chile Britain, the Republic of the Marshall Islands, Ireland, and the Commonwealth of Australia Brazil, Russia, India, China, and South Africa Burundi, Rwanda, Ivory Coast, and Congo Belarus, Romania, Iceland, and Czech Republic
Brazil, Russia, India, China, and South Africa
All of these are social criticisms of marketing, EXCEPT: High Prices Deceptive Practices Planned Obsolescence Consumerism
Consumerism
The _______ consists of institutions and other forces that affect a society's basic values, perceptions, and behaviors. Cultural environment Political environment Social environment Technological environment
Cultural Environment
What is the most involved (highest risk, greatest control) method in entering a foreign market? Joint Venturing Licensing Exporting Direct investment
Direct Investment
Rent and executive salaries are examples of _____ Fixed Costs Variable Costs Total Costs Promotional Costs
Fixed Costs
Which of the following is evidence that the US marketing system poorly serves disadvantaged consumers? Food deserts due to redlining practices by major chain retailers Greenwashing Fair trade practices Circular economy
Food deserts due to redlining practices by major chain retailers
________ involves persuading people to buy goods they had no thought of buying. Sustainable marketing High-pressure selling Strategic marketing Redlining Reverse redlining
High-pressure selling
Stocking products in as many outlets as possible Exclusive distribution Selective distribution Intensive distribution Multichannel distribution system
Intensive distribution
How can public relations have a strong impact at a much lower cost than advertising? Interested consumers can create the content on their own and spread it. Advertising agencies can minimize the impact of competitors' news. Advertising costs have changed dramatically due to changing technologies. Interesting brand stories, events, videos, or other content can be shared by sources out of the company's control, but to its benefit. The firm can pay for content to be spread.
Interesting brand stories, events, videos, or other content can be shared by sources out of the company's control, but to its benefit.
Which of the following is true of the bottom of the pyramid? It is a market segment that has been tapped into and depleted. It consists of people who have easy access to luxury goods. It comprises people who have easy access to the basic amenities of life. It is considered a source of fresh growth opportunities. It is a market segment that has insignificant purchasing power.
It is considered a source of fresh growth opportunities.
Which of the following is true of market-penetration pricing? It should be used when the product's quality and image support a high price. It involves setting a high price for a new product to appeal to the elite in society. It results in drawing in large numbers of buyers quickly, winning a large market share It is best used in conjunction with a market-skimming pricing strategy. It results in the company making fewer and less profitable sales.
It results in drawing in large numbers of buyers quickly, winning a large market share.
Many companies that invent new products set high initial prices to skim revenues layer by layer from the market is: Market-penetration pricing Optional-product pricing Market-skimming pricing By-product pricing
Market-skimming pricing
The product life cycle (PLC) stage in which a product's sales growth slows or levels off. Introduction Stage Growth Stage Maturity Stage Decline Stage
Maturity Stage
________ refers to a measure of the sensitivity of demand to changes in price. Price elasticity A demand curve Price-value equation Marginal utility Income elasticity of demand
Price elasticity
Target's Up & Up and Costco's Kirkland Signature brand is considered a __________. Private brand or Store Brand National brand Manufacturer's brand Support brand
Private or Store Brand
This strategy in the Global Product and Communication strategies involves changing the product to meet local conditions or wants: Product invention Product adaptation Communication adaptation Dual adaptation
Product Adaption
Using personal selling and sales promotion to persuade resellers to carry a brand, give it shelf space, and promote it is a form of: push promotion pull promotion positioning strategy product placement strategy
Push promotion
The ________ seeks to prevent unfair price discrimination by ensuring that sellers offer the same price terms to customers at a given price level. FTC's "Guides against Deceptive Pricing" Robinson-Patman Act Sherman Act Clayton Act Automobile Information Disclosure Act
Robinson-Patman Act
__________is the analysis, planning, implementation, and control of sales force activities. Sales force management Compensating salespeople Recruiting Team selling
Sales Force Management
What does it mean to be a wholesaler? Reselling returned products Selling goods and services to those buying for resale or business use Selling for personal use Replacing goods
Selling goods and services to those buying for resale or business use
What is the business buying situation in which the buyer routinely reorders something without modifications? Modified rebuy New task Derived demand Straight rebuy
Straight rebuy
A sales force organization that assigns each salesperson to serve an exclusive geographical area, in which that salesperson sells the company's full line, is using which of the following? Product sales force structure Territorial sales force structure Customer sales force structure None of the above
Territorial Sales force structure
________ was established to replace GATT in 1995 and now oversees the original GATT provisions. The WTO The EU NAFTA CAFTA NATO
The WTO
Which of the following is true with regard to pure competition? Under pure competition, no single buyer or seller has much effect on the going market price. In a purely competitive market, marketing research is of utmost importance. In a purely competitive market, product development is the focus of most firms. Under pure competition, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price. Under pure competition, the market consists of only a few large sellers.
Under pure competition, no single buyer or seller has much effect on the going market price.
Costs that vary directly with the level of production are: Total Costs Fixed Costs Variable Costs Constant Costs
Variable Costs
Which of the following questions is NOT of major concern regarding marketing channels? What role do physical distribution and supply chain management plan in attracting and satisfying customers? What impact do marketing channels have on the profitability of the firm and its partners? How do channel firms interact and organize to do the work of the channel? What problems do companies face in designing and managing their channels? What is the nature of marketing channels, and why are they important?
What impact do marketing channels have on the profitability of the firm and its partners?
DivetheBlue, a company marketing deep-sea diving equipment, charges very high prices for its products. Despite the availability of many low-priced products in the market, customers seem to prefer DivetheBlue, which has earned a reputation for selling high-quality products. This exemplifies ________. a pure monopoly an oligopoly a nonprice position break-even pricing target costing
a nonprice position
While comparison pricing claims are legal if they are truthful, the FTC warns sellers not to advertise a) factory or wholesale prices unless such prices are what they claim to be, b) comparable value prices on imperfect goods, or c) ________. a sale unless the products are available in sufficient quantity to meet expected demand in a way which confuses potential buyers of the product a description of a product unless all versions of the product are offered with the same pricing terms a price reduction unless it is a savings from the usual retail price if only a limited quantity are available at the reduced price
a price reduction unless it is a savings from the usual retail price
To enable customers to opt out of seeing particular ads, marketers use a(n) ________. This is added to behaviorally targeted online ads to tell consumers why they are seeing a particular ad. advertising option icon opt-in question X to close the ad survey questionnaire
advertising option icon
Finding ads on shopping carts, ATMs, transit buses, and even municipal garbage cans is known as ________. earned media media multitasking paid media alternative media shared media
alternative media
Oscarz Aviation's Web site, GoOscarzAv.com, informs customers about a wide variety of services offered by the firm. It also has a guestbook where customers can provide feedback on their experiences with Oscarz Aviation. They can also view videos Oscarz Aviation posts, as well as read and respond to blogs and ask questions. GoOscarzAv.com is an example of a(n) ________. online social network blog kiosk branded community Web site digital catalog
branded community Web site
Runner Sprintz, a particular brand of shoes, has its own Web site, myrunnersprintz.com that welcomes consumers to "the Runner Sprintz Century," invites readers to post their Runner Sprintz stories, and offers a wide variety of shoes for direct purchase. The site even allows customers to individually design their own shoes and share them among their circles on the Web site. Which of the following best describes myrunnersprintz.com? Web directory blog corporate Web site digital catalog branded community Web site
branded community Web site
Target return pricing uses the concept of a(n) ________, which shows the total cost and total revenue expected at different sales volume levels. BCG matrix break-even chart SWOT analysis demand curve experience curve
break-even chart
The six stages consumers normally pass through on their way to making a purchase are known as the ________ stages. personal-readiness buyer-readiness objective-readiness market-readiness supplier-readiness
buyer-readiness
A manufacturer of a variety of technological devices asked its marketing department to develop inexpensive methods of building and maintaining brand awareness and excitement. The marketing department then recruited consumers who were early adopters of technological devices to spread the word about the company's new products. This is an example of ________. a reverse marketing activity nonpersonal marketing sales promotion buzz marketing direct marketing
buzz marketing
A lumber mill takes in logs, turns them into 2 x 4's and other sizes needed for building construction. Wood chips created in the milling process are a(n) ________ that can be sold. bundled product captive product by-product optional product primary product
by-product
A(n) ________ is a written representation of a salesperson's completed activities. bill of sale call report tender sales quotation contract of sale
call report
Which of the following price adjustment strategies offers a price reduction to buyers who pay their bills promptly? cash discount season discount quantity discount trade discount functional discount
cash discount
advertising when a company compares its brand with other brands
comparative advertising
Which of the following is NOT an example of major tools for trade promotions (i.e., sales promotion to persuade resellers to carry a brand, give it shelf space, and promote it in advertising? specialty advertising items allowance discounts consumer contests, sweepstakes, and games
consumer contests, sweepstakes, and games
The high failure rate of new products shows that companies are not able to ________. control demand advertise enough understand international laws find outlets identify consumer needs
control demand
A ________ VMS integrates successive stages of production and distribution under single ownership. contractual contingency corporate conventional communal
corporate
________ are two or more outlets that are commonly owned and controlled. Corporate chains Convenience stores Off-price retailers Independent off-price retailers Power centers
corporate chains
When selecting a media vehicle, the media planner looks both at the total cost of using a medium and at the ________. continuity cost profit margin cost of premium offers cost of the magazine it is using cost per thousand persons reached
cost per thousand persons reached
What are the three major pricing strategies? competition-based, promotion-based, season-based cost-based, customer value-based, competition-based fair-based, cost-based, customer value-based elasticity-based, competition-based, cost-based
cost-based, customer value-based, competition-based
In a communication process, a receiver assigns meaning to the symbols encoded by a company in its advertisements through a process known as ________. integrating reciprocating acknowledging decoding coordinating
decoding
Until retailers ________ their markets, they cannot make consistent decisions about product assortment, services, pricing, or advertising. create communicate with divide up define and profile design products for
define and profile
Bruno Servers has decided to decrease its prices on its popular higher-range servers. The company can reasonably expect ________ to increase. fixed costs variable costs demand additional value overhead costs
demand
Envirosax reusable shopping bags are stylish and affordable, and they eliminate the need for plastic store bags. Envirosax reusable shopping bags most likely fall in the category of ________ products. deficient pleasing mature desirable unpleasing
desirable
the development of foreign-based assembly or manufacturing facilities and offers a number of advantages including labor, logistics, control, government incentives, and lower cost of raw materials
direct investment
Which of the following is a demographic factor that a company should consider before deciding to enter into a new country? transportation structure natural resources political stability languages education
education
When demand changes greatly with change in price. If demand is elastic, the seller will consider lowering their prices. A lower price will produce more total revenue.
elastic demand
Industrializing economies are also known as ________ economies. emerging raw material exporting totalitarian subsistence capitalist
emerging
HP's advertising agency assembles words and illustrations into an advertisement that conveys the company's intended brand message. In the context of the communication process, HP is ________. messaging decoding sending encoding responding
encoding
When a seller requires its dealers to abstain from handling competitors' products, it is called ________. subjective distribution exclusive dealing selective distribution exclusive pricing disintermediation
exclusive dealing
Buyers with low sales resistance can often be tempted by all the following common features of infomercials EXCEPT ________. elaborately staged demonstrations "while they last" time limitations free shipping smooth-talking hosts claims of drastic price reductions
free shipping
The number of times an average person in the target market is exposed to a message is known as the ________ of the message. exposure rate reach frequency quantitative value turnover rate
frequency
Producers of strong brands sometimes sell to dealers only on the condition that dealers take some or all of the rest of a product line. This practice is known as ________. product line franchising selective dealing cross merchandising full-line forcing disintermediation
full-line forcing
An advantage of licensing to a company is that it ________, while the licensee gains production expertise or a well-known product without having to start from scratch. does not maintain the same level of control over product quality must send employees to work with the licensee in training, selling, and distribution might create a competitor gains entry to a foreign market at little risk requires significant financial investment
gains entry to a foreign market at little risk
In a(n) ________, executives are trained in worldwide operations, not just domestic or international operations. direct exporting company joint venture international division international subsidiary global organization
global organization
Consumers are less likely to use price to judge the quality of a product when they ________. have never tried the product before have little knowledge of the brand have experience with the product are shopping for luxury items cannot physically examine the product
have experience with the product
Immediately after deciding which markets to enter, the company should determine ________. the most suitable global communication program how to price its products in different markets the global marketing organization the global marketing program how to enter the market
how to enter the market
Using interactive TV can allow consumers to perform all the following tasks during a company's ad EXCEPT ________. see what other sizes or colors are available identify a nearby location at which the product is available access additional product information order the product send product information to another device
identify a nearby location at which the product is available
Why do firms have difficulty accessing potential market areas in developing countries, such as China and India? inadequate distribution systems anti-globalization efforts highly centralized rural markets limited manpower high operating costs
inadequate distribution systems
The two key economic factors reflecting a country's attractiveness as a market are its industrial structure and its ________. communication adaptation nontariff trade barriers exchange controls income distribution transportation systems
income distribution
Which of the following is NOT a specific goal of branded community Web sites? present brand content that engages consumers build closer customer relationships generate engagement with and between the brand and its customers increase online sales allows visitors to interact with likeminded people to explore and communicate experiences with the brand
increase online sales
Marketers publicize inbound toll-free numbers to consumers in television and print ads, direct mail, and catalogs. The benefit to sellers is that it presents an opportunity for consumers to order products and for the seller to build the relationship. A benefit to consumers is ________. increased convenience increased telemarketing calls decreased telemarketing calls 24/7 availability of support a discounted price on the product
increased convenience
When entering a foreign market, companies typically start with ________, working through independent intermediaries to sell products produced in the home country. direct exporting embargo product adaptation indirect exporting licensing
indirect exporting
The principle of ________ requires that the company continuously seek real product and marketing improvements. consumer-oriented marketing innovative marketing customer-value marketing sense-of-mission customer-value marketing ambush marketing
innovative marketing
Which of the following is a major form of direct-response television marketing? telemarketing interactive TV social media digital catalog podcast
interactive TV
Donello Equipment hosts infomercials on television and at the same time allows its viewers to interact with its advertisements. Viewers can request more details and order via their Internet-ready smart televisions. Which of the following forms of marketing is evident here? catalog marketing telemarketing interactive television podcast marketing kiosk marketing
interactive television
________ play an important role in efficiently making products available to target markets in the needed varieties and quantities. Virtual banks Intermediaries Price consultants Uniform-delivery networks Upstream partners
intermediaries
Cost-plus pricing ________. is a complex pricing method involves pricing that accurately reflects production costs involves adding a standard markup for profit aims at breaking even on the costs of making and marketing a product is a value-based pricing method
involves adding a standard markup for profit
Disadvantages of social selling include ________. its impact on efficiency its ability to provide information its expense and the difficulty of presenting some things via the Internet the ability to spot opportunities its impact on productivity
its expense and the difficulty of presenting some things via the Internet
when a firm joins with foreign companies to produce or market products or services
joint venturing
Fire Up makes fireproof clothing material and it licenses select stores around the world to use its material to make finished products with the Fire Up logo. Which of the following types of franchising is evident here? manufacturer-sponsored retailer franchise system manufacturer-sponsored wholesaler franchise system service-firm-sponsored retailer franchise system service-firm-sponsored equity strategic alliance manufacturer-and-service-sponsored joint venture
manufacturer-sponsored wholesaler franchise system
Which of the following is an example of trade promotion? manufacturers offering regular value-for-money deals to attract thrifty and value-conscious customers salespeople engaging in door-to-door selling activities manufacturers offering free merchandise to resellers who feature a certain flavor or size advertisers claiming that a certain product is the best in the market marketers selling specialty products to a small segment of customers with unique preferences
manufacturers offering free merchandise to resellers who feature a certain flavor or size
What is the most common type of agent wholesaler? wholesale merchant industrial distributor limited-service wholesaler manufacturers' representative truck jobber
manufacturers' representative
In addition to segmenting and targeting the correct market, which of the following is NOT an area in which marketers must make decisions? product assortment services mix store's atmosphere using experiential retailing manufacturing schedules
manufacturing schedules
IKEA (Sweden), Aldi (Germany) has stores in the US. Market penetration Product development Market development Diversification
market development
Companies that 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-skimming pricing market-penetration pricing cost-plus pricing inclusive pricing exclusive pricing
market-penetration pricing
To carefully integrate and coordinate the company's many communications channels and produce greater sales impact, some companies appoint a(n) ________. idea champion marketing communications director sales representative business analyst media planner
marketing communications director
A charitable trust's appeal which states, "While you are trying to figure out what to get the man who has everything, don't forget the man who has nothing" is an example of a(n) ________ appeal. structural awareness rational moral standard
moral
Which of the following is a major tool used by PR professionals? standardized global advertising product packaging news bait-and-switch strategy market penetration
news
Which of the following is NOT one of a wholesaler's channel functions? financing risk bearing transportation off-price retailing bulk breaking
off-price retailing
Store retailers must master ________, integrating store and online channels into a single shopper experience. showrooming single-channel retailing omni-channel retailing webrooming dual-channel retailing
omni-channel retailing
The long-run average cost (LRAC) curve indicates the ________. per unit cost of output in the long run projected total production costs of competitors variable costs incurred by a firm over time fixed costs incurred by a firm over the long term number of units the market will buy in a given time period, at different prices that might be charged
per unit cost of output in the long run
________ refers to the practice of continually changing consumer concepts of acceptable styles to encourage more and earlier buying. Perceived obsolescence Technological obsolescence Bait-and-switch advertising Functional obsolescence High-pressure selling
perceived obsolescence
Communication through a telephone call is considered a part of a(n) ________ communication channel. online nonverbal personal nonpersonal unidirectional
personal
advertising that is important with increased competition to build selective demand
persuasive advertising
----advertising is more important when competition increases, meanwhile informative advertising is heavily used during the---- stage of the product life cycle, and ----advertising is most suitable for mature products.
persuasive, introduction, reminder
Critics have accused some producers of practicing ________ by using materials and components that will break, wear, rust, or rot sooner than they should. high-pressure selling short-term planning planned obsolescence nonfunctional warranty deceptive promotion
planned obsolescence
Foreign businesses in India appear to receive unusually close scrutiny and must meet special regulations, aimed at protecting local businesses. This includes nontariff trade barriers. This reflects that a country's ________ should be carefully considered before doing business in that country. political-legal environment industrial structure cultural norms natural resources income distribution
political-legal environment
involves the creation and placing of news worthy information to attract attention to a person, product, or service
press relations
no demand above this price
price ceiling
A measure of the sensitivity of demand to changes in price
price elasticity
no profits below this price
price floor
uses lower prices to build a customer base for new products or services
price penetration
sets prices higher to attract customers most interested in the product or service to maximize short-term profits
price skimming
involves publicizing specific products
product publicity
La Belle released a cut glass bottle of perfume at $299 per item, even though its major competitor prices its signature scent at $99 per item. La Belle reasons that customers in search of luxury goods will prefer its product because they are likelier to believe that high price indicates superior quality. What price adjustment strategy is evident in its reasoning? seasonal pricing time-based pricing captive product pricing psychological pricing location-based pricing
psychological pricing
involves building and maintaining national or local community relations
public affairs
Press conferences, speeches, store openings, special events, newsletters, and store magazines are examples of ________ activities used by retailers to promote themselves. public relations sales promotions personal selling affinity marketing social marketing
public relations
In Viña del Mar, Chile, a large number of shops specialize in selling the same quality of seafood products along the beach frequented by tourists. No individual shop dares charge more than the going price without fearing loss of business to other shops. This exemplifies ________. pure competition monopolistic competition oligopolistic competition pure monopoly the dominant firm model
pure competition
During the prospecting stage, a salesperson needs to identify the good leads and screen out the poor ones through a process known as ________. closing satisficing presenting qualifying approaching
qualifying
Bose offers $50 cash back to customers who purchase a new speaker and send in a proof of purchase. This is an example of a ________. rebate POP promotion price pack premium sample
rebate
Which consumer promotion tool requires the consumer to provide a proof of purchase to the manufacturer? price packs coupons samples rebates displays
rebates
When major chain retailers avoid placing stores in disadvantaged neighborhoods, they are likely to be accused of the discriminatory practice of ________. embargo licensing redlining puffery scrambled merchandising
redlining
advertising important with mature products to help maintain customer relationships and keep customers thinking about the product
reminder advertising
________ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. Franchising Retailing Brokering Wholesaling Disintermediation
retailing
________ consists of strong short-term incentives that invite and reward quick responses from customers. Public relations Personal selling Advertising sales promotion Direct marketing
sales promotion
More and more companies are moving away from high-commission plans because ________. outside salespeople tend to undermine the efforts of the inside sales team high-commission plans require salespeople to work overtime salespeople tend to become pushy which affects customer relationships salespeople are prone to taking multiple sales jobs to maximize their income salespeople end up spending too much time traveling to meet customers
salespeople tend to become pushy which affects customer relationships
Which message execution style involves presenting survey data indicating that a brand is better than other brands? technical expertise slice of life testimonial evidence scientific evidence endorsement
scientific evidence
Which of the following is a major element of developing an advertising strategy? evaluating advertising campaigns selecting advertising media setting the advertising budget setting advertising objectives using sophisticated statistical models
selecting advertising media
Audience quality, audience engagement, and editorial quality are most likely to be considered when a media planner ________. selects a media vehicle selects an execution style evaluates return on investment decides on media timing measures the communication effects of an advertisement
selects a media vehicle
Sales executives at Keiron Air Conditioners use phone directories to call customers and convince them to buy their air conditioners. Which form of direct marketing is used here? telemarketing direct-mail marketing catalog marketing direct-response television marketing kiosk marketing
telemarketing
A pharmaceutical ad features a world-renowned heart surgeon describing the benefits of a medication. Which of the following message execution styles is illustrated in this example? testimonial evidence fantasy musical personality symbol mood or image
testimonial evidence
Consumer advocates call for additional consumer rights, including ________. the right to be protected from unwanted marketing messages the right to be well informed about important product aspects the right not to pay any taxes included in the final price the right to resell the product the right to exchange the product if it is of the wrong size or style
the right to be well informed about important product aspects
In industrial markets, ________ typically has the final say in setting the pricing objectives and policies of a company. the sales manager top management the production manager the HR department the sales staff
top management
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 ________. retailers upstream partners distributors downstream partners distribution channels
upstream partners
uses the buyers' perceptions of value, not the sellers cost, as the key to pricing
value-based pricing
When KFC came into conflict with its franchisees over the brand's Unthink KFC repositioning, which emphasized grilled chicken over its traditional Kentucky fried chicken, KFC experienced ________ conflict. equilateral horizontal multitiered communal vertical
vertical
Independent Grocers Alliance, Do-It Best, and Western Auto are examples of ________. franchise organizations warehouse clubs voluntary chains category killers wholesale clubs
voluntary chains
________ buy mostly from producers and sell to retailers and industrial consumers. Warehouse clubs Factory outlets Wholesalers Discount stores Megaretailers
wholesalers
Which of the following helps companies in setting sales force size?workload approach pull strategy push strategy top-down approach bottom-up approach
workload approach
