MKT3210 Intro to Marketing Exam 3

Producing a single 30 sec television commercial costs an average of

$350,000

Which type of store carries a deep assortment of a particular product line, has knowledgeable staff, and can be viewed as a giant specialty store?

Category killer

___________ logistics starts with the marketplace and works backwards to the factory or even to sources of supply.

Customer-centered

Which of the following is a disadvantage of adding new channels in a a multichannel distribution system?

Decreasing control over the system

Which of the following is NOT a step in designing an effective marketing channel?

Determining pricing policy for channel members.

_________ occurs when product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones.

Disintermediation

Which of the following is true of FOB-origin pricing?

It is an expensive alternative for customers in distant locations.

Which of the following is true of the bottom of the pyramid?

It is considered a source of fresh growth opportunities.

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%. 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?

Market-penetration pricing

Companies are doing less ________ and more ________ as a result of an explosive developments in communication technologies to better target smaller customer segments.

Mass marketing; digital marketing.

________ logistics involves moving products from the factory to resellers and ultimately to customers.

Outbound

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

Personality symbols

Savings for You, a discount retail chain, is highly competitive. When entering a new market, Savings for You often cuts prices so deeply that it sells below costs, effectively pushing smaller companies with less purchasing power out of the market. Savings for You is most likely guilty of ________.

Predatory pricing

Which of the following is a conventional consumer marketing channel?

Producer to wholesaler to retailer to end consumer

Daizy's is a shop that carries only plus-size clothing. According to this information, Daizy's differentiates itself from its competitors based on ________.

Product assortment

You own a neighborhood grocery store and would like to have non-food items delivered, priced, displayed and inventoried by a wholesaler. You do not want to purchase title to the goods. Which type of wholesaler best fits your needs?

Rack jobber

______ are wholesalers who serve grocery and drug retailers, mostly in nonfood items. They price the goods, keep them fresh, set up point-of-purchase displays, and keep inventory records.

Rack jobbers

The_______ seeks to prevent unfair price discrimination by ensuring that sellers offer the same price terms to customers at a given price level.

Robinson-Patman Act

________distribution involves the use of more than one but fewer than all of the intermediaries who are willing to carry a company's products.

Selective.

A pharmaceutical ad features a world-renowned hear surgeon describing the benefits of a medication. Which of the following message execution style is illustrated in this example?

Testimonial evidence

Which of the following is true of channel members?

They play specialized roles in the channel

Which of the following brands most likely requires heavy advertising in order to be set apart from similar products?

Undifferentiated brands

Which of the following factors would most likely lead to a company initiating a price cut?

Weakened economy

Which of the following questions is NOT of major concern regarding marketing channels?

What impact do marketing channels have on the profitability of the firm and its partners?

Which of the following statements is true about personal communication channels?

Word-of-mouth influence uses a personal communication channel.

When customers begin telling others about a product they are in the ________ step of the customer journey

advocacy

Which of these steps of the customer journey involves the customer wanting to know more about the product?

ask

Which of the following is a media measure?

click-through rate

Companies often fail to integrate their various messages to consumers because___________.

communications often come from different parts of the company.

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 ________.

comparative advertising

When different types of retailers sell the same products at the same prices to the same customers, thanks in part to the price transparency of the Internet, the retail forms appear to be______.

converging

Upon determining who will want the product, retailers must determine in more detail how to_______ in those markets.

differentiate and position themselves.

Changes to the marketing communications model include that consumers are changing and are better informed, that marketing strategies are changing and are moving from mass marketing, and that_______.

digital technologies are changing the ways companies and customers communicate

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?

informative advertising

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-penetration pricing.

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

mature brands

Which of the following product mix pricing strategies involves pricing additional or accessory products sold along with the main product?

optional-product pricing

In multimodal transportation, which of the following describes the use of both rail and trucks for transportation?

piggyback

Which of the following is used in an attempt to dominate the market through a pricing strategy?

price cuts

Which of the following promotion tools involves building up a positive corporate image and handling unfavorable stories and events?

public relations

A_________ contains from 50 to 100 stores, is like a covered mini-downtown, and attracts customers from a wide area.

regional shopping center

Mark's Markers, a manufacturer of white board markers, has required its dealers to charge a specified retail price for its markers. Mark's is most likely guilty of ________.

retail price maintenance

By definition, _________ pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost.

segmented

Craftsman Furniture Company offers its bedroom and living room furniture through independent and smaller chain furniture stores, not through every store that sells furniture. It uses ________ distribution.

selective

Maybelline used Gigi Hadid, a model, to endorse a new range of cosmetics. This message execution style is referred to as ______.

testimonial evidence.

Champion, Inc. is a manufacturer of lunch boxes, school bags, and school stationery. Charles Payton, the CEO of Champion, hopes to sell the products at a low price to penetrate the market quickly. Which of the following best supports a market-penetration strategy for Champion?

the market for the products is highly price sensitive.

Advertising has numerous goals. Which of the following is NOT one of those goals?

to work with lobbyists and legislators in developing industry regulations.

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

upstream partners

Beach Heaven uses two-part pricing for its holiday resort charges. Because this is a service, the price is broken into a fixed fee for the room plus a(n) _____________ usage rate for activities, including kite-sailing and child care.

variable

Major logistics functions are logistics information management, inventory management, transportation, and ______.

warehousing