Marketing 5,9,12
The objective of ________ advertising is to build primary demand.
Informative
Trendy Appliances has introduced a new product, Minute Yogurt, into the yogurt maker appliance market. Minute Yogurt differs from competitive offerings because it takes a minute to blend and a minute to clean. Which type of advertising would be best for promoting Minute Yogurt?
Informative advertising
Lush Lawns, a new landscaping company, uses the same logo and shade of green in all forms of communication including its online ads, truck signage, Web site, and business cards. Which technique is being used by Lush Lawns to promote its business?
Integrated marketing communications
________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.
Perception
________ tends to legitimize products, is very expressive, allows brand or company dramatization, and can build up a long-term image for a product.
Television Advertising
What is the most important consumer buying organization in society?
The family
Which of the following conditions is most likely essential for implementing a successful market-penetration pricing strategy for a product?
The market for the product is highly price sensitive.
Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience postpurchase dissonance?
The price of the Toyota Camry falls due to an increase in demand.
Which of the following conditions is most likely essential for implementing a successful market-skimming pricing strategy for a product?
The product's quality and image must support its high price.
Establishing prices for razor blades that must be used with a razor blade system is known as ________ pricing.
captive-product
Which of the following is a disadvantage of using digital, mobile, and social media for advertising?
the audience controls content and ad exposure.
Which of the following sets the upper limit for a product's pricing?
consumer perceptions of value
Metro Museum has different admission prices for students, adults, and seniors. All three groups are entitled to the same services. This form of pricing is called ________ pricing.
customer-segment
A company that uses telephone marketing to sell its products to customers is most likely using the promotion tool of ________.
direct marketing
In a promotion mix, ________ involves personally connecting with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.
direct marketing
Which statement is most likely true about the affordable method of setting an advertising budget?
Spending on advertising is calculated after operating expenses, and capital outlays are deducted from total revenues.
Which of the following is an example of a combination of sales promotions and direct marketing
a company sending an e-mail to a customer about a discount on a product during a holiday season
The aim of ________ is to make ads and brand content so engaging or useful that people want to watch them.
advertainment
Salon Du Jour offers special combination packages at a reduced price. Separately, a haircut is $30 and a conditioning treatment is $35. But the combo price is $50. This is referred to as ________ pricing.
product bundle
NerdHerd Electronics sells three different sizes of televisions at three different prices. In this case, the company's pricing strategy is referred to as ________ pricing.
product line
What type of pricing is being used when a company temporarily prices its products below the list price to create buying excitement and urgency?
promotional pricing
GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying decision process.
proposal solicitation
In a promotion mix, ________ performs the functions of building a good rapport with entities outside the company, building up a good corporate image, and handling unfavorable rumors and events.
public relationsIn
Which of the following is most likely a difference between advertising and sales promotion?
Advertising is an invitation to buy the product, while a sales promotion is an incentive to buy the product immediately.
involves enlisting or even creating opinion leaders to serve as brand ambassadors who spread the word about a company's products.
Buzz marketing
________ uses buyers' perceptions of what a product is worth as the key to pricing.
Customer value-based pricing
A ________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth.
A) cost-based B) target costing C) value-based D) value-added E) competition-based
Which of the following is true of advertising in the new marketing communications model?
Advertisers are increasingly shifting toward digital media.
________ advertising would most likely result in attack ads between competitors
Comparative
Which of the following is an effect of the advancement of technology on marketing?
Consumers rely less on marketer-supplied information than in the past.
________ pricing involves setting prices based on the expenses involved in producing, distributing, and selling a product plus a fair rate of return for a company's effort and risk.
Cost-based
Which of the following is a social factor that influences consumer buying behavior?
Family
Window Concepts has introduced a new line of windows that offer the same benefits as solar panels in reducing heating and cooling costs in homes. The state-of-the-art windows will also contribute to the slowing of global warming while providing energy reliability. The company sends a team of representatives to the National Doors and Windows Trade Show to promote the new line of windows. Which promotion mix tool has Window Concepts used in this scenario?
Personal Selling
According to Maslow's hierarchy of needs, which of the following is most likely an esteem need?
Satus
Which of the following is a commercial source of product information?
dealer Web sites
Fred's faith in Asics, his favorite brand of running shoes, makes him consider other offerings introduced by Asics. Fred is not a risk-taker, and he tends to evaluate each new product carefully before adopting it. Fred is an opinion leader in his social networking community and best described as a(n) ________.
early adopter
In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense?
evaluation
The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as ________.
market-penetration pricing
Pricing a product based on consumers' reference prices is referred to as ________ pricing.
psychological
________ refers to the unique psychological characteristics that distinguish a person or group.
Personality
Chic Eyewear, a producer of designer eyeglass frames, promotes their new line in national fashion magazines. Chic Eyewear lists the select optical retailers that carry their line at the bottom of their ads. This is an example of a ________ strategy.
Pull
How do firms that use captive-product pricing make up for the low prices of their main products?
They set high markups on the captive products
Los Amigos, a new Mexican restaurant, has set up shop across the street from Hot Tamales and More. Which of the following pricing strategies will Los Amigos likely use?
competition-based
Electric cars are not considerably different or difficult to drive relative to gas-powered cars. However, this is not aligned with the perceptions or conceptual concerns held by the public about the new technology. This will likely slow the adoption rate due to the ________ of the innovation.
complexity
The Vitamin Shoppe sells natural vitamins and supplements. Product prices are adjusted frequently to meet the needs of individual customers. For example, long-time customers receive discounts. This strategy is most likely an example of ________ pricing.
dynamic
Retailers like Walmart and Target carry less-expensive versions of established brand name products or new lower-price lines. They have adopted a ________ pricing strategy.
good-value
Trainstar, a sportswear equipment manufacturer, releases a new line of energy drinks called VitaZing. The television ad for the energy drink shows people jogging, working out in a gym, and doing aerobics. The actors then take a break to drink VitaZing, which visibly re-energizes them and leads them to continue exercising. Which advertising style is most likely used in the VitaZing ad?
lifestyle
Under ________, the market consists of a few large sellers who are highly sensitive to each other's pricing and marketing strategies.
monopolistic competition
Karen Dodd is employed by Dell and responsible for calling on primary schools in her home state of Maine to promote the company's offerings. She demonstrates the Dell line of products including desktop computers, laptops, and tablets and fields questions from teachers and administrators alike. This is an example of which promotion tool?
personal selling
Simone bought two bottles of wine from two vineyards in Bordeaux. When asked for an opinion on the quality of the wines, she later mentioned that the Pontet Canet tasted like alcoholic grape juice, but the Chateau Margaux had a crisp taste that she really enjoyed. Which of the following stages of the buyer decision process do Simone's remarks reflect?
postpurchase behavior
Penny Bank, a discount store, is highly competitive. When entering a new market, Penny Bank often cuts prices so deeply that it sells below costs, effectively pushing smaller retail stores with less purchasing power out of the market. In this case, Penny Bank is using ________.
predatory pricing
In a marketing communications mix, ________ refers to any short-term incentives to encourage the purchase of a product or service.
sales promotion
Hallmark's classic "When you care enough to send the very best" slogan appeals to which need category in Maslow's hierarchy?
social
A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________.
straight rebuy
A TV ad promoting how an ordinary person's life has changed due to considerable weight loss is an example of the ________ style of advertising.
testimonial evidence
In the competitive-parity method of setting an advertising budget, the budget is set based on ________.
the amount spent by similar companies in the same industry
Vac "N" Sew, a consumer electronics outlet, offers a price reduction of $100 when customers bring in a used vacuum cleaner and exchange it for a new vacuum cleaner or sewing machine. This is an example of a ________.
trade-in allowance