marketing exam 3
When Microsoft or Apple sells software as a package, it is engaging in what type of pricing? A. Product bundle pricing B. Captive-product pricing C. Product line pricing D. Two-part product pricing E. By-product pricing
A. Product bundle pricing
Recent years have seen the rapid growth of superstores that are actually giant specialty stores; they are sometimes called ______. A. warehouse clubs B. convenience stores C. discount stores D. category killers E. corporate chains
D. category killers
A salesperson's role as a(n) ________ demands creative selling, social selling, and relationship building. A. order getter B. order taker C.sales manager D.broker E. PR specialist
A. order getter
There are several types of product mix pricing situations, which include ______________, by-product pricing, and product bundle pricing. A. product line pricing, optional-product pricing, captive-product pricing B. non-bundling product pricing, optional-product pricing, captive-product pricing C. product line pricing, off-product pricing, captive-product pricing D. product line pricing, mandatory product pricing, captive-product pricing E. sales line pricing, optional-product pricing, captive-product pricing
A. product line pricing, optional-product pricing, captive-product pricing
Distribution channels are complex ______________ in which people and companies interact to accomplish individual, company, and channel goals. A. logistical systems B. behavioral systems C. joint marketing systems D. psychological systems E. ecosystems
B. behavioral systems
Printer companies often charge a fairly low price for their inkjet printers (relative to costs) and a high price for replacement cartridges. These companies are using a strategy of ___________ pricing. A. optional-product B. captive-product C. product line D. by-product E. product bundle
B. captive-product
___________ are payments or price reductions that reward dealers for participating in advertising and sales-support programs. A. cash discounts B. promotional allowances C. quantity discounts D. volume discounts E. trade-in allowances
B. promotional allowances
Companies use ______________ to build good relations with consumers, investors, the media, and their communities. A. telemarketing B. public relations C. advertising D. personal selling E. sales promotion
B. public relations
International marketers and advertisers face challenges not encountered domestically. The most basic issue concerns ____________. A. differences in languages and religious practices in multiple country markets B. the amount of adaptation required for the unique characteristics of various country markets This is the correct answer. C. lack of infrastructure and technology required for social or digital advertising D. government regulation and censorship in select country markets E.the difficulties in obtaining appropriate media outlets in multiple country markets
B. the amount of adaptation required for the unique characteristics of various country markets
Progressive wholesalers constantly watch for better ways to meet the changing needs of _________________. A. their suppliers and other wholesalers B. their suppliers and target customers C. distribution channels and suppliers D. domestic and international customers E. target customers and other wholesalers
B. their suppliers and target customers
Most producers use intermediaries by forging a marketing channel (or distribution channel) to bring products and services to the consumer or business user. They do this because of _________, specialization, and scale of operation. A. the intermediaries' ability to offer data analytics B. the intermediaries' contacts and experience C. the intermediaries' contacts D. the intermediaries' experience E. the intermediaries' ability to offer manufacturing services
B. the intermediaries' contacts and experience
A company sets a high price on a new product it introduces to maximize revenue from various market segments. Which new product pricing strategy is the company using? A. Market-penetration pricing B. Captive-product pricing C. Market-skimming pricing D. Product bundle pricing E. Product line pricing
C. Market-skimming pricing
Which of the following is TRUE regarding new types of channel organizations? A. They provide stronger leadership for larger-scale companies. B. They provide improved performance for small firms. C. They provide stronger leadership and improved performance. D. They provide improved performance but lack leadership. E. They provide improved leadership, but performance is unstable.
C. They provide stronger leadership and improved performance.
New retail forms continue to emerge. However, different types of retailers are increasingly serving similar customers with the same products and prices (retail convergence), making __________ more difficult. A. distribution B. logistics C. differentiation D. targeting E. positioning
C. differentiation
A company can use _________ by setting a low initial price to penetrate the market deeply and win a large market share. A. market-skimming pricing B. cost-plus pricing C. market-penetrating pricing D. discount pricing E. profitability pricing
C. market-penetrating pricing
Companies have to think carefully when considering price changes. They must consider which of the following? A. Investor reactions B. Sales and marketing reactions C. Management reactions D. Buyer and competitor reactions E. Research and development reactions
D. Buyer and competitor reactions
Which of the following statements regarding marketing logistics is NOT TRUE? A. It focuses on managing value-added flows between suppliers, the company, resellers, and final users. B. It involves the entire supply chain management. C. No logistics system can both maximize customer service and minimize distribution costs. D. Companies are placing less emphasis on logistics and more on constraining costs. E. Logistics involve inbound logistics, outbound logistics, and reverse logistics.
D. Companies are placing less emphasis on logistics and more on constraining costs.
To successfully implement a market-skimming strategy for a new product, which of the following conditions needs to be present? A. The quality level of the product does not match the higher price. B. Buyers are not willing to pay the higher price. C. The company objective is to attract a large number of buyers quickly. D. Competitors are not able to enter the market quickly and undercut the high price. E. The company objective is to initially gain a large market share.
D. Competitors are not able to enter the market quickly and undercut the high price.
Price ceilings are set by customer perception. Which of the following sets the floor for the price that a company charges? A. Market conditions B. Customers C. Competitors D. Revenue projections E. Costs
E. Costs
Which of the following statements about major retail trends is NOT true? A. Retailers have now adjusted to the new economic realities. B. Major retailers are expanding globally. C. Differentiation is now more difficult. D. There is a continued rise of megaretailers. E. The green movement has not quite taken hold.
E. The green movement has not quite taken hold.
When companies treat customers fairly and make certain they understand pricing and pricing terms, this leads to ________________. A. fewer returns and refunds B. greater perceived value on the customer's part C. a pathway for the acceptance of future price increases D. enhanced profitability E. building strong and lasting customer relationships
E. building strong and lasting customer relationships
In determining the number of channel intermediaries, there are three strategies available. These are _________________. A. intensive, exclusive, and in-between distribution B. intensive, exclusive, and convenience distribution C. intensive, selective, and value-added distribution D. selective, exclusive, and online distribution E. intensive, exclusive, and selective distribution
E. intensive, exclusive, and selective distribution
A company may use the promotion mix, also called its marketing communications mix, to ______________________. A. engage customers, persuasively communicate customer value, and build customer relationships This is the correct answer. B. engage customers, maintain customer relationships, and build customer relationships C. persuasively communicate customer value, engage customers, and sell goods and services D. engage customers and sell goods and services E. create customer value, engage customers, and build customer relationships
A. engage customers, persuasively communicate customer value, and build customer relationships
Ideally, integrated marketing communications should achieve which of the following? A. Deliver a clear, consistent, and compelling company and brand message. B. Use only newer digital technologies to communicate with consumers. C. Deliver different brand messages over different communication channels. D. Allow different company departments to send different brand messages. E. Deliver a hodgepodge of brand content to consumers.
A. Deliver a clear, consistent, and compelling company and brand message.
Retailers always search for new marketing strategies to attract and hold customers. The major marketing decisions they face are _______________________. A. segmentation and targeting, store differentiation and positioning, and the retail marketing mix B. segmentation and targeting, store location, and the retail marketing mix C. store differentiation, targeting, and the retail marketing mix D. store differentiation, positioning, and the retail marketing mix E. segmentation and targeting, differentiation, and the retail marketing mix
A. segmentation and targeting, store differentiation and positioning, and the retail marketing mix
Another price adjustment strategy is ______________ pricing, where the company sells a product at two or more prices to accommodate different customers, product forms, locations, or times. A. segmented B. geographical C. dynamic D. promotional E. psychological
A. segmented
The typical personal selling process consists of seven specific steps. The steps in the selling process are ________. The aim is to help salespeople close a specific sale with a customer. A. transaction oriented B. goal oriented C.revenue oriented D.relationship oriented E. sales quota oriented
A. transaction oriented
For services, there is a form of captive-product pricing known as _____ pricing. A.two-part B. by-product C. product line D. product bundle E. optional-product
A.two-part
Which of the following describes a just-in-time logistics system? A. Just-in-time logistics systems allow producers and retailers to carry large amounts of inventory. B. Just-in-time logistics systems allow producers and retailers to carry small inventories to last for only a few days of operations. C. Just-in-time logistics systems eliminate the need for forecasting. D. Just-in-time logistics systems greatly increase inventory-carrying and inventory-handling costs. E. Just-in-time logistics systems ensure that new stock arrives at least one week before it is needed.
B. Just-in-time logistics systems allow producers and retailers to carry small inventories to last for only a few days of operations.
Which of the following pricing strategies would a company use to attract a large number of buyers quickly and win a large market share? A. Captive-product pricing B. Market-penetration pricing C. Market-skimming pricing D. Optional-product pricing E. By-product pricing
B. Market-penetration pricing
____________________ addresses not only outbound logistics, but also inbound logistics and reverse logistics. A. Nonphysical distribution B. Marketing logistics C. Manufacturing logistics D. Marketing and sales logistics E. Transportation logistics
B. Marketing logistics
_____________________ must be closely coordinated for maximum campaign effectiveness. A. Budget decisions and media decisions B. Message decisions and media decisions C. Budget decisions and message decisions D. Objectives and evaluation E.Objectives and message decisions
B. Message decisions and media decisions
______ means integrating all available shopping channels and devices into a seamless customer shopping experience. A. Shopper marketing B. Omni-channel retailing C. Green retailing D. Retailing E. Wholesaling
B. Omni-channel retailing
Of the following, which is NOT one of the product-mix pricing situations? A. Optional-product pricing Your answer is not correct. B. Penetration pricing C. Product bundle pricing D. Captive-product pricing E. Product line pricing
B. Penetration pricing
The need for omni-channel retailing is a result of _______. A. green retailing B. omni-channel buying's C. megaretailers D. retail convergence E. category killers
B. omni-channel buying
Pricing strategies usually change as a product passes through its life cycle but are especially challenging during the _______ stage. A. growth B. relaunch C. introductory D. decline E. maturity
C. introductory
Of product and services assortment, price, promotion, and place, which plays one of the most important roles in aligning target markets and positioning? A. Price B. Services assortment C. Place D. Promotion E. Product assortment
C. Place
Press releases, sponsorships, events, and web pages are tools used by which element of the promotion mix? A. direct and digital marketing B. personal selling C. sales promotion D. public relations E. advertising
D. public relations
Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this represent? A. Contractual VMS B. Franchise C. Conventional distribution channel D. Administered vertical marketing system (VMS) E. Corporate VMS
D. Administered vertical marketing system (VMS)
Of the following, which is core element of our free-market economy? A. Uniform pricing regulations B. Price cuts C. Free trade D. Price competition E. Cost controls
D. Price competition
A company's pricing strategy is affected by internal factors such as ___________________. A. overall marketing strategy, objectives, and market conditions B. overall marketing strategy, the nature of the market, and demand C. the nature of the market, demand, and the economy D. overall marketing strategy, objectives, marketing mix, and other organizational considerations E. overall marketing strategy, objectives, demand, and international considerations
D. overall marketing strategy, objectives, marketing mix, and other organizational considerations
Omni-channel retailing requires carefully integrating _____________ from discovery to purchase in the buying process. A. physical stores and online shopping B. online shopping with social media C. different physical store locations D. the entire range of available shopping channels E. physical stores with social media
D. the entire range of available shopping channels
External factors when considering pricing include ________________________________ such as the economy, reseller needs, and government actions. A. demand and environmental factors B. nature of the market and environmental factors C. domestic demand, nature of the market, and environmental factors D. global demand, nature of the market, and environmental factors E. the nature of the market and demand and environmental factors
E. the nature of the market and demand and environmental factors
_____________________ are the five promotion mix tools used by marketers to communicate customer value. A. Television advertising, radio advertising, online advertising, social media advertising, and outdoor advertising B. Advertising, business-to-business selling, personal selling, sales promotion, and direct and digital marketing C. Product, price, place, promotion, and advertising D. Advertising, public relations, personal selling, sales promotion, and telemarketing E. Advertising, public relations, personal selling, sales promotion, and direct and digital marketing
E. Advertising, public relations, personal selling, sales promotion, and direct and digital marketing
What are the four major functions of logistics? A. Warehousing, inventory management, transportation, and retailing B. Retailing, inventory management, transportation, and logistics information management C. Inventory management, transportation, shipping, and warehousing D. Warehousing, inventory management, retailing, and logistics information management E. Warehousing, inventory management, transportation, and logistics information management
E. Warehousing, inventory management, transportation, and logistics information management
Omni-channel retailing goes beyond just helping in-store customers as they cross-shop on mobile devices and requires _________________________. A. careful targeting, differentiation, and positioning B. extra attention to product assortment, store atmosphere, and price C. integration of product assortment, services mix, and price D. carefully integrating all elements of the marketing mix to maximize value E. carefully integrating the entire range of available shopping channels
E. carefully integrating the entire range of available shopping channels
Channels often involve long-term commitments, and companies have many alternatives. Each alternative should be evaluated against three general criteria. What are these? A. economic, control, and profitability B. profitability, sales, and costs C. adaptability, control, and sales D. economic, control, and adaptability E. economic, adaptability, and profitability
D. economic, control, and adaptability
A company's total promotion mix, also called its marketing communications mix, consists of the specific blend of five tools: _________________________. A. advertising, personal selling, sales promotion, public relations, and direct and digital marketing tools B. advertising, sales promotion, public relations, special events, and direct and digital marketing tools C. advertising, personal selling, sales promotion, trade relations, and direct and digital marketing tools D. advertising, direct selling, sales promotion, public relations, and direct and digital marketing tools E. advertising, personal selling, sales promotion, public relations, and direct marketing tools
A. advertising, personal selling, sales promotion, public relations, and direct and digital marketing tools
Value-based pricing begins with analyzing ___________. A. Consumer needs and value perceptions B. Internal costs and value perceptions C. Market needs and competitors' prices D. Product attributes and product perceptions E. product attributes and product features
A. Consumer needs and value perceptions
Marketing channels perform many key functions. Which of the following is NOT one of those key functions? A. Manufacturing B. Contact work C. Assuming risks of carrying out channel work D. Fulfilling completed transactions E. Helping to complete transactions
A. Manufacturing
Which of the following statements about personal selling is correct? A. Many customers are unable to distinguish the salesperson from the company. B. Personal selling is a fairly new profession. C. The sales force should work separately from other marketing functions. D. The role of personal selling is very consistent from company to company. E. Salespeople sell; they do not have a role in creating value for the customer.
A. Many customers are unable to distinguish the salesperson from the company.
What are the four important decisions made when developing an advertising program? List them in order. A. Setting objectives, setting the budget, developing strategy, and evaluating effectiveness B. Setting objectives, setting the budget, developing message strategy, and determining media timing C. Developing message strategy, developing message execution, selecting media, and determining media timing D. Setting the budget, setting objectives, developing strategy, and evaluating effectiveness E. Setting objectives, setting the budget, determining the impact on sales and profits, and determining the return on investment
A. Setting objectives, setting the budget, developing strategy, and evaluating effectiveness
The only reason for a wholesaler to exist is to ___________________ by increasing the efficiency and effectiveness of the entire marketing channel. A. add value B. eliminate marketing costs C. facilitate distribution D. lower logistical costs E. replace a sales team
A. add value
Depending on the type of promotion, a marketer develops and implements the sales promotion program by using three key promotion tools. These are ______________. A. consumer promotion tools, trade promotion tools, or business promotion tools B. consumer promotion tools, trade promotion tools, or retail promotion tools C. consumer promotion tools, internal promotion tools, or business promotion tools D. trade promotion tools, special event tools, or business promotion tools E. business promotion tools, trade promotion tools, or advertising promotion tools
A. consumer promotion tools, trade promotion tools, or business promotion tools
The seven price adjustment strategies are _____, ______, _____, promotional pricing, geographical pricing, dynamic pricing, and international pricing. A. discount and allowance pricing, segmented pricing, psychological pricing B. discount and allowance pricing, segmented pricing, product bundle pricing C. discount and allowance pricing, segmented pricing, market-skimming pricing D. discount and allowance pricing, segmented pricing, penetration pricing E. product line pricing, optional-product pricing, captive-product pricing
A. discount and allowance pricing, segmented pricing, psychological pricing
When selecting intermediaries, the company should evaluate each channel member's years in business, other lines carried, location, _______________________. A. growth and profit record, cooperativeness, and reputation B. management team, cooperativeness, and reputation C. profit record, cooperativeness, and reputation D. growth record, profit record, and reputation E. growth and profit record, cooperativeness, and company size
A. growth and profit record, cooperativeness, and reputation
When designing marketing channels, companies must determine the number of channel members to use at each level. The three strategies that are available to do this are ________ distribution. A. intensive, exclusive, and selective B. intensive, selective, and targeted C. intensive, exclusive, and global D. open, closed, and franchise E. targeted, segmented, and global
A. intensive, exclusive, and selective
Because today's consumers shift seamlessly across channels, many online retailers, including Amazon, are moving _______. A. into the physical world This is the correct answer. B. toward a global presence C. into offering groceries D. away from an online presence E. into the virtual world
A. into the physical world
The firm's PR should be blended smoothly with other promotion activities within the company's ____________________. A. overall integrated marketing communications effort This is the correct answer. B. advertising and sales promotion efforts C. media and digital marketing strategy efforts D. overall marketing plan E. overall strategic plan
A. overall integrated marketing communications effort
Most companies see their intermediaries as first-line customers and partners. They practice strong _____________________ management to forge long-term partnerships with channel members. A. partner relationship B. supply chain C. marketing D. channel E. sales relationship
A. partner relationship
Federal legislation on _________states that sellers must set prices without talking to competitors. A. price-fixing B. price discrimination C. retail price maintenance D. deceptive pricing E. predatory pricing
A. price-fixing
Personal selling involves a multiple-step process. The first step is ______________ and the last step is _______________________. A. prospecting and qualifying; follow-up Your answer is correct. B. approach; follow-up C. presentation and demonstration; closing D. preapproach; handling objections E. approach; closing
A. prospecting and qualifying; follow-up
Major retail trends and developments include the rise of megaretailers and rapid growth of direct, online, mobile, and social media retailing. Other trends include __________________. A. the growing importance of retail technology, a surge in green retailing, and the global expansion of major retailers B. the growing importance of retail technology, general surge in retailing, and global expansion of major retailers C. a surge in green retailing, new supply chain management methods, and global expansion of major retailers D. the growing importance of retail technology, global expansion of major retailers, and international marketing E. the growth of retail technology, global expansion of major retailers, and international trade
A. the growing importance of retail technology, a surge in green retailing, and the global expansion of major retailers
The second step of channel design is the identification of the major channel alternatives in terms of the _________________. A. types of intermediaries, number of intermediaries, and the channel responsibilities of each member This is the correct answer. B. types and number of intermediaries C. types of intermediaries D. identification of channel intermediary responsibilities E. the identification of types of intermediaries and assignment of responsibilities
A. types of intermediaries, number of intermediaries, and the channel responsibilities of each member
_______ is the use of online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance. A. Sales promotion B. Social selling C. Technology selling D. Digital selling E. New-age selling
B. Social selling
Which of the following statements is true regarding the promotion mix? A. Sales promotions are long-term incentives to encourage the purchase or sale of a product or service. B. The entire marketing mix must be coordinated for greatest impact. C.Personal selling is not used to engage customers. D. Direct and digital marketing cannot be used to target individual consumers. E. Advertising is a personal form of marketing communication
B. The entire marketing mix must be coordinated for greatest impact.
In general, sales promotion campaigns should ______________________. A. offer buyers long-term incentives to purchase a good or service B. be customer relationship building C. only be used on social media D. be used without additional advertising support E. only be offered to consumers
B. be customer relationship building
Sales promotion campaigns call for setting sales promotion objectives. In general, sales promotions should be ________. A. service oriented B. consumer relationship building C. business relationship building D. product oriented E. sales-generation vehicles
B. consumer relationship building
In managing its channels, a company must convince suppliers and distributors that they can succeed better by working together as _______________. A. part of an integrated distribution network B. part of a cohesive value delivery system This is the correct answer. C. part of an integrated system D. trusted channel partner E. part of an integrated delivery system
B. part of a cohesive value delivery system
___________________ are promotional tools that can be used to attract consumers. A. coupons, rebates, off-list discounts, and price packs B. rebates, coupons, price packs, and samples. C. coupons, sales contests, samples, and price packs D. rebates, coupons, samples, and push money E. trade shows, coupons, samples, and push money
B. rebates, coupons, price packs, and samples
After determining the type of promotion to use, marketers then must decide on the _______ and the ______. A. amount of push money; type of free goods B. size of the incentive; conditions for participation C. size of the incentive; consumer promotion D. trade promotion; size of the incentive E. consumer promotion; trade promotion
B. size of the incentive; conditions for participation
The fastest-growing sales trend is the explosion in ________, which is using online, mobile, and social media in selling. A. e-commerce B. social selling C. online selling D. social media selling E. mobile selling
B. social selling
Retailers must decide on three major product variables: product assortment, services mix, and _________. A. location B. store atmosphere C. segmentation and targeting D. promotion E. price
B. store atmosphere
It is important that retailers select locations that are accessible to the target market in areas that are consistent with the _____________________. A. retailer's retail marketing mix B. retailer's positioning C. retailer's distribution hubs D. population patterns E. retailer's differentiation
B. retailer's positioning
Marketers now have access to fragmented media and promotion mixes to reach diverse audiences. To prevent creating a communications hodgepodge, what must marketers do? A. Deploy tools to facilitate customer relationship management B. Create informative, persuasive, and distinct messaging content C. Adopt the concept of integrated marketing communications D. Develop targeted social media and digital advertising E. Use marketing management software
C. Adopt the concept of integrated marketing communications
The three major pricing strategies are ______. A. perception-based pricing, customer value-based pricing, and cost-based pricing B. cost-plus pricing, cost-based pricing, and competition-based pricing C. customer value-based pricing, cost-based pricing, and competition-based pricing D. cost-based pricing, competition-based pricing, and skimming E. penetration pricing, competition-based pricing, and customer value-based pricing
C. Customer value-based pricing, cost-based pricing, and competition-based pricing
ReviewQuiz Me:Quiz Me: 10.3 Identify the major channel alternatives open to a company. Question 3, Study Plan 10.3.2 Test Score: 40%, 2 of 5 points Points: 1 of 1 Close ______________ begins with analyzing consumer needs and setting channel objectives. A. Motivating channel members B. Marketing channel management C. Marketing channel design D. Marketing channel responsibility E. Selecting channel members
C. Marketing channel design
At which stage in the selling process does a salesperson attempt to learn as much as possible about the organization (what it needs, who is involved in the buying) and its buyers (their characteristics and buying styles)? A. Approach B. Presentation and demonstration C. Preapproach D. Handling objections E. Prospecting and qualifying
C. Preapproach
Public relations involves building good relations with the company's various publics. What are all of the functions it includes? A. Press agency, product publicity, lobbying, investor relations, and development B. Press agency, product publicity, government relations, public affairs, lobbying, investor relations, and development C. Press agency, product publicity, public affairs, lobbying, investor relations, and development D. Press agency, product publicity, crisis management, public affairs, lobbying, investor relations, and development E. Product publicity, public affairs, lobbying, investor relations, and development
C. Press agency, product publicity, public affairs, lobbying, investor relations, and development
Beyond the market and the economy, what other factors in its external environment must a company consider when setting prices? A. The company's overall marketing strategy and selecting target markets B. Who within the organization should set prices and whether or not to have a pricing department C. Resellers, the government, and social concerns D. Setting prices to attract new customers and setting prices to prevent competitors from entering the market E. The company's overall marketing strategy and marketing mix
C. Resellers, the government, and social concerns
Which of the following statements about public relations is correct? A. The impact of public relations on public awareness comes at a much higher cost than advertising. B. It is difficult to integrate public relations into social media. C. The lines between advertising and public relations are becoming more blurred. D. Public relations is used only to promote products. E. Public relations is not used to engage consumers.
C. The lines between advertising and public relations are becoming more blurred.
One form of ______ involves bogus reference or comparison prices, as when a retailer sets artificially high "regular" prices and then announces "sale" prices close to its previous everyday prices. A. retail price maintenance B. price discrimination C. deceptive pricing D. predatory pricing E. price-fixing
C. deceptive pricing
Firms seeking immediate response from targeted individual consumers and consumer communities use ______________________ marketing tools to engage consumers and cultivate relationships with them. A. personal selling, advertising, and sales promotion B. direct marketing C. direct and digital D. advertising, sales promotion, and public relations E. advertising and sales promotion
C. direct and digital
A company may use the promotion mix, also called its marketing communications mix, to ______________________. A. persuasively communicate customer value, engage customers, and sell goods and services B. engage customers, maintain customer relationships, and build customer relationships C. engage customers and sell goods and services D. engage customers, persuasively communicate customer value, and build customer relationships This is the correct answer. E. create customer value, engage customers, and build customer relationships
C. engage customers and sell goods and services
By practicing ______, today's retailers are increasingly adopting environmentally sustainable practices. A. mobile retailing B. retail convergence C. green retailing D. megaretailing E. social media retailing
C. green retailing
These days, shopper marketing influences consumers' buying decisions and calls for omni-channel retailing, creating a seamless cross-channel buying experience that integrates __________________ shopping. A. online media, social media, and traditional media B. in-store, special event, online, and mobile C. in-store, online, and mobile D. primarily online and mobile E. in-store and online
C. in-store, online, and mobile
The ____________ concept recognizes that improved logistics requires teamwork in the form of close working relationships across functional areas inside the company and across various organizations in the supply chain. A. outbound logistics B. reverse logistics C. integrated supply chain management D. supply chain management E. inbound logistics
C. integrated supply chain management
The sales force sells products by engaging customers, presenting its offerings, answering objections, negotiating prices and terms, closing sales, servicing accounts, and ________. A. maintaining vendor relationships B. maintaining manufacturing relationships C. maintaining account relationships D. meeting revenue goals E. handling customer service complaints
C. maintaining account relationships
Intermediaries are used by most producers to bring products to market. These intermediaries are known as _________________________. A. contract manufacturers B. retail partners C. marketing channels D. offshore manufacturing partners E. logistics companies
C. marketing channels
In most cases, a company is not simply seeking a sale. Rather, the company wants to engage the customer over the long haul in a ________. A. mutually innovative relationship B. profitable relationship for the customer C. mutually profitable relationship D. profitable relationship for the company E. mutual agreement for product development
C. mutually profitable relationship
Other functions of marketing channel members include helping to fulfill the completed transactions by offering ____________________________. A. physical distribution, invoicing, and risk taking B. negotiating, physical distribution, and risk taking C. physical distribution, financing, and risk taking D. land and sea transportation, financing, and risk taking E. physical distribution, financing, and delivery
C. physical distribution, financing, and risk taking
Which of the following statements is TRUE regarding the selection of qualified channel members? A. To find and select qualified channel members, firms simply refer to a national online database. B. Established brands have no trouble finding and keeping qualified channel members. C. Producers vary in their ability to attract qualified marketing intermediaries. D. Firms select only qualified channel members in their immediate geographical area. E. Selecting qualified channel members is largely controlled by government regulation.
C. producers vary in their ability to attract qualified marketing intermediaries.
Like retailers, wholesalers must _____________________________. A. target carefully, segment, and position themselves effectively B. target carefully, differentiate, and position themselves effectively C. segment and target carefully, differentiate, and position themselves effectively D. segment and target carefully, advertise regularly, and position themselves effectively E. differentiate, target, and position themselves effectively
C. segment and target carefully, differentiate, and position themselves effectively
Advertisers should first ______________ to determine whether the advertising is supposed to inform, persuade, or remind buyers. A. define types of analytics B. carefully plan media C.set clear objectives D. develop clear standards for messaging E. set firm media budgets
C. set clear objectives
Other internal factors that influence pricing decisions include ____________. A. the company's overall sales strategy, objectives, and marketing mix, as well as organizational considerations B. the company's overall sales strategy, revenue objectives, and marketing mix, as well as organizational considerations C. the company's overall marketing strategy, objectives, and marketing mix, as well as organizational considerations D. the company's overall pricing strategy, objectives, and marketing mix, as well as organizational considerations E. the company's overall marketing strategy, objectives, and marketing mix
C. the company's overall marketing strategy, objectives, and marketing mix, as well as organizational considerations Your answer is correct.
Personal selling can be very effective in complex selling situations because it involves ________ interactions and engagement between salespeople and individual customers. A. informal B. competitive C.interpersonal D. nonpersonal E. profitable
C.interpersonal
Which of the following sets of characteristics correctly classifies retailers? A. Amount of service offered, breadth and depth of product lines, relative prices they charge, and store size B. Amount of service offered, the relative prices they charge, target customers, and store size C. Breadth and depth of product lines, relative prices they charge, location of the store, and store size D. Amount of service offered, the breadth and depth of product lines, relative prices they charge, and how they are organized E. Location of the store, relative prices they charge, target customers, and store size
D. Amount of service offered, the breadth and depth of product lines, relative prices they charge, and how they are organized
In setting its overall pricing strategy, companies need to consider three factors: ______, ______, and ______. A. Domestic customer purchasing habits, costs, and the company's pricing strategies B. Customer perceived value, costs, and the company's pricing strategies C. Customer perceived value, vendor perceived value, and competitors' pricing strategies D. Customer perceived value, costs, and competitors' pricing strategies E. Customer purchasing habits, costs, and competitors' pricing strategies
D. Customer perceived value, costs, and competitors' pricing strategies Your answer is correct.
Which of the following is a reason that producers use marketing channels and channel intermediaries? A. Using channel intermediaries increases the number of contacts with customers. B. Using marketing channels allows producers to retain control over how and to whom they sell their products. C. Marketing channel decisions only require a short-term commitment. D. Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers. E. The reduced costs of using channel intermediaries offset the inefficiencies of marketing channels.
D. Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.
Retail stores come in all shapes and sizes, and new retail types keep emerging. Store retailers can be classified by ______________. A. full-service, specialty, and discount stores B. specialty stores, department stores, and service businesses C. self-service and full-service stores D. amount of service, product line sold, relative prices, and how they are organized E. full-price, discount, and off-price retailers
D. amount of service, product line sold, relative prices, and how they are organized
To ensure channel success, all channel firms should understand and accept their roles, _________________. A. coordinate their goals, and cooperate to attain overall channel goals B. coordinate their goals and activities, and cooperate to attain overall sales goals C. establish ways to cooperate to attain overall channel goals, and jointly promote products D. coordinate their goals and activities, and cooperate to attain overall channel goals E. coordinate activities, and cooperate to attain overall channel goals
D. coordinate their goals and activities, and cooperate to attain overall channel goals
The three major groups of wholesalers are ________. A. merchant wholesalers, brokers and agents, and full-service wholesalers B. merchant wholesalers, brokers and agents, and wholesale clubs C. merchant wholesalers, full-service wholesalers, and limited-service wholesalers D. merchant wholesalers, brokers and agents, and manufacturers' and retailers' branches and offices E. merchant wholesalers, wholesale clubs, and big-box stores
D. merchant wholesalers, brokers and agents, and manufacturers' and retailers' branches and offices
New digital and social media have given birth to a _________________________. A. less targeted, social, and engaging marketing communications model B. more targeted, social, and engaging marketing model C. more targeted, social, and less engaging marketing communications model D. more targeted, social, and engaging marketing communications model E. less targeted and engaging communications model
D. more targeted, social, and engaging marketing communications model
As with the other promotion tools, in considering when and how to use product public relations, the best thing management should do is ______________________. A. choose the PR messages and vehicles, plan media, implement the PR plan, and evaluate the results B.set PR objectives, choose the PR messages, implement the PR plan, and evaluate the results C. set PR objectives, choose the PR vehicles and social media, implement the PR plan, and evaluate the results D. set PR objectives, choose the PR messages and vehicles, implement the PR plan, and evaluate the results E. set PR objectives, choose the PR messages and vehicles, implement the PR plan, and evaluate the results in terms of return on investment
D. set PR objectives, choose the PR messages and vehicles, implement the PR plan, and evaluate the results
Which of the following statements is correct regarding marketing communications today? A. Advertisers are adopting less fragmented media and promotion mixes to reach their diverse markets. B. Most marketers do not use integrated marketing communications tools or planning. C. Marketers are reversing a trend toward digital media. D. Digital and social media have given birth to a more targeted, more social, but less engaging marketing communications. E. Advertisers are now able to engage smaller customer segments with more personalized, interactive content
E. Advertisers are now able to engage smaller customer segments with more personalized, interactive content
Which of the following statements is true regarding channel organization? A. Once a channel is organized and set, it rarely changes. B. In a well-organized channel, conflicts rarely occur. C. Channel members should act alone in their own short-run best interests before considering the interests of other channel members. D. Channel organization is always based on formal interactions guided by strong organizational structures. E. Channel members are dependent on each other for the overall success of the channel.
E. Channel members are dependent on each other for the overall success of the channel.
Which of the following correctly describes omni-channel retailing? A. Selling products online environments B. Allowing one supplier to sell to multiple retailers through multiple channels C. Developing close partnerships between wholesalers and retailers D. Setting up franchises in different locations with seamless delivery of integrated services E. Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping
E. Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping
Marketers use three major pricing strategies: ______________________. A. customer value-based pricing, cost-based pricing, and government-based pricing B. demand-based pricing, revenue-based pricing, and government-based pricing C. customer value-based pricing, cost-based pricing, and revenue-based pricing D. demand-based pricing, cost-based pricing, and competition-based pricing E. customer value-based pricing, cost-based pricing, and competition-based pricing
E. Customer value-based pricing, cost-based pricing, and competition-based pricing
High sales force costs necessitate an effective sales management process consisting of which of the following steps? A. Designing sales force structure and recruiting and selecting, training, compensating, supervising, and evaluating the firm's salespeople. B. Designing sales force strategy and recruiting and selecting, training, compensating, supervising, and evaluating the firm's salespeople. C. Designing sales force strategy and structure and selecting, training, compensating, supervising, and evaluating the firm's salespeople. D. Designing sales force strategy and structure and recruiting and selecting, compensating, supervising, and evaluating sales force performance. E. Designing sales force strategy and structure and recruiting and selecting, training, compensating, supervising, and evaluating the firm's salespeople.
E. Designing sales force strategy and structure and recruiting and selecting, training, compensating, supervising, and evaluating the firm's salespeople.
Which of the following identifies the six major sales force management steps in the correct order? A. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, evaluating salespeople, compensating salespeople, and supervising and motivating salespeople. B. Recruiting and selecting salespeople, training salespeople, designing sales force strategy and structure, evaluating salespeople, compensating salespeople, and supervising and motivating salespeople C. Evaluating salespeople, designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, and supervising and motivating salespeople D. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, supervising and motivating salespeople, evaluating salespeople, and compensating salespeople E. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, supervising and motivating salespeople, and evaluating salespeople
E. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, supervising and motivating salespeople, and evaluating salespeople
Which of the following is true regarding the price-demand relationship? A. Demand and price are directly related—the higher the price, the greater the demand. B. A demand curve shows the number of units a company will produce in a given time period at different prices that might be charged. C. If demand is inelastic, a small change in price will result in a large change in demand. D. Price elasticity measures how responsive price will be to a change in demand. E. If demand is elastic, sellers will consider lowering their prices.
E. If demand is elastic, sellers will consider lowering their prices.
How do companies apply pricing strategies to accommodate differences in customer segments and situations? A. They create price allowance pricing strategies. B. They use selective promotional pricing strategies. C. They focus on segmented pricing strategies. D. They use accommodations such as preferred pricing strategies. E. They apply a variety of price adjustment strategies.
E. They apply a variety of price adjustment strategies.
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers? A. Transportation B. Financing C. Risk bearing D. Buying and assortment building E. Warehousing
E. Warehousing
The major steps in advertising media selection are (1) __________; (2) choosing among major media types; (3) selecting specific media vehicles; and (4) choosing media timing. A. calculating advertising return on investment B. determining the advertising budget C. determining the execution style D. setting the advertising objectives E. determining reach, frequency, impact, and engagement
E. determining reach, frequency, impact, and engagement
With companies becoming more market-oriented, the sales force plays a key role in ________ and __________________________. A. creating revenue; developing and managing the manufacturing functions B. acting as the customer service department; developing and managing profitable customer relationships C. engaging customers; helping the company reach revenue goals D. engaging customers; marketing logistics E. engaging customers; developing and managing profitable customer relationships
E. engaging customers; developing and managing profitable customer relationships
Companies use ______ to bring together their many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands. A. in-depth program and project management B. integrated social media communications C.integrated digital and social media communications D.thoroughly planned, coordinated, and executed media buys E.integrated marketing communications (IMC)
E. integrated marketing communications (IMC)
New major trends and developments in retailing include ___________________. A. shortening retail life cycles, lengthening retail life cycles, and retail convergence B. new retail forms, shortening retail life cycles, and business-to-business convergence C. new retail forms, new business-to-business forms, and retail convergence D. the rise of social media, shortening retail life cycles, and retail convergence E. new retail forms, shortening retail life cycles, and retail convergence
E. new retail forms, shortening retail life cycles, and retail convergence
The illegal practice of selling below cost to harm competitors is known as ______. A. price discrimination B. deceptive pricing C. retail price maintenance D. price-fixing E. predatory pricing
E. predatory pricing
When evaluating channel member performance, companies use standards such as _______, ______, _____, treatment of damaged and lost goods, cooperation in company promotion and training programs, and services to the customer. A. sales quotas, average inventory levels, profitability B. sales quotas, average inventory levels, customer satisfaction surveys C. sales quotas, costs, customer delivery time D. average sales, average inventory levels, customer delivery time E. sales quotas, average inventory levels, customer delivery time
E. sales quotas, average inventory levels, customer delivery time
Guided by ___________________, retailers must decide on a retail marketing mix—product and services assortment, price, promotion, and place. A. strong differentiation and pricing B. strong targeting and differentiation C. strong positioning and differentiation D. strong positioning and products and services assortment E. strong targeting and positioning
E. strong targeting and positioning
Companies often divide sales responsibilities along three lines. These are a _____, _____, or ____ sales force structure, which can also be combined. A. territorial, product, global B. product, customer, global C.territorial, customer, client D. product, customer, performance-based E.territorial, product, customer
E. territorial, product, customer
Closing a sale with a particular customer is a short-term ________ orientation, but the selling process must also take a ________ orientation and look at the long term. A. company; relationship B. relationship; transactional C. transactional; profit D. profit; relationship E.transactional; relationship
E. transactional; relationship
