marketing quiz 3

Ace your homework & exams now with Quizwiz!

cash discounts

Leicestershire Renovations has a history of problems with customers who do not pay their bills on time. Leicestershire Renovations wants to improve its cash​ situation, reduce bad​ debts, and reduce​ credit-collection costs. Which of the following forms of pricing would most likely help the firm achieve its​ goal?

testimonial evidence

Maybelline used Sarah Michelle​ Gellar, an​ actress, to endorse a new range of cosmetics. This message execution style is referred to as​ ________.

captive product pricing

Multiprint, a printer manufacturing​ firm, sells ink cartridges for each of its specific models. Only Multiprint cartridges are compatible with Multiprint​ printers, and no two models share the same specifications. What type of pricing does Multiprint​ use?

contract manufacturing

One market entry strategy is​ __________, in which the company makes agreements with companies in the foreign market to produce its product or provide its service.

by-product

Using​ ________ pricing, companies are able to turn their trash into​ cash, allowing them to make the price of their main product more competitive.

​Licensing, contract​ manufacturing, management​ contracting, and joint ownership

What are the four types of joint venture entry​ strategies?

To deliver​ clear, consistent, and compelling company and brand messages

What is the goal of integrated marketing​ communications?

The risks the firm faces

What is the main disadvantage of direct​ investment?

Through exporting

What is the simplest way to enter a foreign​ market?

​market-skimming

When Apple Computer Company introduced their​ iPhone, they priced the new product at​ $599, considerably higher than either their iPod or competing cellular phones. Apple Computer was pursuing​ a(n) __________ pricing strategy.

False

When The Candy Store sets a low initial price in order to get its​ "foot in the​ door" and to quickly attract a large number of​ buyers, the company is using​ market-skimming pricing.

comparative advertising

When Verizon Wireless began offering the​ iPhone, it used its​ "Can you hear me​ now?" slogan to attack​ AT&T's rumored spotty service. This example best illustrates​ ________.

product invention

When using the global product strategy of​ __________, companies create something new to meet the needs of consumers in a given country.

informative advertising

When​ P&G developed the Mr. Clean Magic​ Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by​ P&G for the Mr. Clean Magic​ Eraser?

Licensing

Which joint venturing method typically involves fees and royalty​ payments?

Direct investment

Which market entry strategy has the greatest amount of​ commitment, risk,​ control, and profit​ potential?

Panizza, whose combo meals are priced lower than its individual components sold together

Which of the following companies uses product bundle​ pricing?

discount and allowance pricing

Which of the following is a price adjustment​ strategy?

Foreign firms expand aggressively into new international markets.

Which of the following is most likely to be the consequence of increased growth of global​ trade?

It involves decreased control over the manufacturing process.

Which of the following is true of contract​ manufacturing?

It can be profitably used when the​ product's quality and image support its price.

Which of the following is true of price​ skimming?

deciding which markets to enter

Which of the following major decisions should a company make immediately after it decides to operate​ internationally?

mature brands

Which of the following most likely requires the smallest advertising​ budget?

For a​ market-skimming strategy to be​ successful, the costs of producing a smaller volume cannot be so high that they cancel the advantage of charging more.

Which of the following statements is true concerning new product pricing​ strategies?

comparative advertising

Which of the following types of advertising will most likely result in an advertising​ war?

Personal selling

Which promotional tool includes​ presentations, trade​ shows, and incentive​ programs?

Advertising

Which promotional tool is any paid form of nonpersonal presentation and promotion of​ ideas, goods, or services by an identified​ sponsor?

product adaptation

Kraft has adapted its popular Oreo cookie to the unique tastes of consumers all around the​ world, whether​ it's mango-and-orange flavored Oreos in the Asia Pacific​ region, green tea Oreos in​ China, a chocolate and peanut variety in​ Indonesia, or banana and dulce de leche in Argentina. This is an example of​ ________.

by-product

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.

reminder

A product in the maturity stage will most likely require​ ________ advertising.

​captive-product

Gillette charges a fairly low price for their razors​ (relative to​ costs) and a high price for razor blades. They are using a strategy of​ __________ pricing.

product line pricing

Go Zone plans to introduce four tablet models over the next year. These models range from basic readers at​ $99 per​ unit, to more sophisticated tablets at​ $399 per unit. The more features a model​ has, the more expensive it is. What pricing strategy is Tone Zone using for its range of​ tablets?

how to enter the market

Immediately after deciding which markets to​ enter, the company should determine​ ________.

​market-penetration pricing

In a bid to attract more customers in a market that has several​ competitors, Barrymore's Bakery slashed the prices of all its products by 50 percent. Managers at the firm reasoned that lower prices would draw in even more​ customers, making up for the reduction in price several times over. Which of the following pricing strategies are they​ using?

reminder

Keeping the brand in a​ customer's mind during​ off-seasons is most likely a goal of​ ________ advertising.

personality symbols

The advertisements that use the Aflac duck or the GEICO gecko are using the message execution style of​ ________.

seasonal discount

The discount offered by Glamor Gifts to customers who bought​ Valentine-themed merchandise the week following​ Valentine's Day is an example of a​ ________.

direct exporting

Think Ink is a growing company that sells a variety of inks for home and business printers. Management at Think Ink has decided to open a sales branch overseas to handle sales and distribution abroad. Think Ink is engaging in​ ________.

Where should we produce or source our​ products?

Which question should most likely be answered by all companies due to the rapid move toward​ globalization?

product line

Whirlpool washers and dryers are offered in many different models. Whirlpool will use​ __________ pricing to determine the price steps between the different models.

promotional allowances

A soda pop company offers a discount to a grocer. In​ exchange, the grocer agrees to provide​ in-store advertising for the soda pop and additional​ sales-support. This is an example of​ __________.

lifestyle

An ad for Athleta active wear shows a woman in a complex yoga pose and​ states: "If your body is your​ temple, build it one piece at a​ time." This ad uses the​ ________ execution style.

slice of life

An ad for a new convection oven shows a busy professional woman using the convection oven to cook dinner for her family. Which of the following message execution styles is illustrated in this​ example?

remind

An advertising objective is classified by its primary​ purpose, which is to​ inform, persuade, or​ ________.

A straight product extension

Apple​ iPads, Gillette​ razors, and Black​ & Decker tools are all sold successfully in about the same form around the world. This is an example of which global​ strategy?

global

A​ ________ firm is one​ that, by operating in more than one​ country, gains​ marketing, production, research and​ development, and financial advantages that are not available to purely domestic competitors.

competitors can undercut prices easily

A​ market-skimming pricing strategy should NOT be used for a new product when​ ________.

joint ownership

Campbell Soup recently joined forces with Hong​ Kong-based Swire Pacific to form an entity called Campbell Swire to better distribute the​ company's soups in China. This is an example of​ ________.

​By-product pricing

Cheese makers in Wisconsin sell their leftover brine to local city and county highway​ departments, which use it in conjunction with salt to melt icy roads. Which product mix pricing strategy does this​ represent?

Product adaptation

Dunkin Donuts has added menu items that meet the unique taste buds of customers in local​ markets, for​ example, mango pudding donuts in China. This represents which global product​ strategy?

persuasive

Encouraging customers to switch brands is most likely the objective of​ ________ advertising.

personal selling

Extel​ Inc., a home appliance​ manufacturer, uses sales representatives to sell its products to wholesalers and individual customers. This is an example of​ ________.

​product-bundle

Many personal care companies combine toothpaste with a toothbrush at a reduced price. This is an example of​ __________ pricing.

indicator of quality

Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Because she does not know much about​ wine, she will likely use the price of the wines as​ a(n) __________.

wherever it can do the best job

Since the global company sees the world as one​ market, it raises​ capital, obtains components and​ materials, and manufactures and markets its goods​ ________.

public relations

Specific promotional tools used in​ __________ include press​ releases, sponsorships,​ events, and web pages.

access to new consumer markets

What did Selman​ & Saks hope to gain by entering the French​ market?

Sales promotion

​__________ is the promotion mix tool that consists of​ short-term incentives to encourage the purchase or sale of a product or service.

Reach

​________ is a measure of the percentage of people in a target market who are exposed to an ad campaign during a given period of time.

Direct and digital marketing

​__________ involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.


Related study sets

HIST 170 New World Encounters: Preconquest-1608

View Set

MEEEN 360 Ch 10: Solid Solutions and Phase Equilibrium

View Set

Articles of Confederation and The Framing of the Constitution

View Set

Health Assessment- Final PrepU Questions

View Set