Principles of Marketing Unit 3

A set of 3 or more companies directly linked by one or more of the upstream and downstream flow of product, services, finances, and information form a sources to a customer is referred to as

a supply chain

Non personal promotional communication about goods, service or ideas that is paid for by the firm identified in the communication is referred to as

advertising

While on vacation in Europe, Maria purchased an antique porcelain vase values at $25,00. She needs to have it delivered to her home in Kentucky. What would be the best mode of transportation for this item?

air transportation

The almost instantaneous transfer of information from one company's computer to another that allows ERP systems to communicate with the information technology systems of other companies is done through

an electronic data interchange

When it comes to the use of color in website design, which of the following colors represents a sense of trustworthiness and openness?

blue

A strategy in which 2 or more products are packaged together and sold at a single price

bundling

What is the most common type of sales promotion?

coupons

According to social media and customer service expert Jay Baer, what is the new marketing?

customer service

Which of the following is a variable cost?

delivery cost

Intermediaries through which the flow of products travels are called

distribution channels

Which of the following statements regarding supply chain management is not true?

each channel with a supply chain acts independently of the other channels

Which website usability attribute addresses how quickly users can perform tasks once they have learned the design?

efficiency

What is the name of the promotional strategy that involves coordination the various promotion mix elements to provide consumers with a cleat and consistent message about the firm's products?

integrated marketing communications

Many location based marketing campaigns incorporate the use of

location based

The part of supply chain management that plans., implements, and controls the flow of goods, services, and information between the point of origin and the final customer is called

logistics

Reminder advertising is most common during which stage of the product life cycle?

maturity

The transmission of data, voice, and video via any wireless enabled computing device, without a fixed physical connection, is a technology known as

mobile computing

The dissemination of information to a fairly small, select audience that is defined by its shared values, preferences, or demographic attributes is referred to as

narrowcasting

A pricing tactic in which a firm prices product a few cents below the next dollar amount is called

odd pricing

Compare the following forms of advertising and select the medium that is generally the cheapest form.

outdoor advertising

Volume maximization is also referred to as

penetration pricin

A new Home Depot opened up down the street from Hank's Hardware and has drastically reduced prices on many of the same products that Hank sells, forcing him to go out of business. After Hank closed his store, he noticed that Home depot began raising its prices to more normal levels. This is an example of

predatory priceing

If luxury brands such as Versace clothing, Lexus automobiles, and Dom Perignon champagne wanted to promote an image of superior quality and exclusivity to customers, they would most likely use which pricing tactic?

prestige princing

The practice of charging different customers different prices for the same product is called

price discrimination

The degree to which the price of a product affects consumers' purchasing behavior is referred to as

price sensitivity

One of the most important strategic decisions a firm faces is _________ because it reflects the value the product delivers to consumers as well as the value it captures for the firm

pricing

The advertisement technique in which a company promotes its products through appearances on television shows, movies, or other media is called

product placemtn

All the activities that communicate the value of a product and persuade customers to buy it is referred to as

promotion

Dissemination unpaid news items through some form of media to gain attention or support is referred to as

publicity

Bob's Custom Millwork is a business that provide custom cabinetry and furniture for both businesses and individual consumers Bob does not make any products until he receives and order from the customer. What type of marketing strategy does this represent?

pull strategy

In order to provide consistently relevant marketing content, marketers must provide consumers with content that is all of the following except

repetitive

Which element of the promotion mix refers to the set of non personal communication tools designed to stimulate quicker and more frequent purchases of a product?

sales promotion

A marketing practice whose goal is to generate traffic from search engines through both paid and unpaid efforts is called

search markeriting

The price strategy of un-bundling involved

separating out the individual goods that make up a product and pricing each one individually

What type of marketing uses combinations of digital tools such as websites, online videos, email blogs, social media, mobile ads, mobile , apps, and other digital platforms?

social media marketing

The process of identifying and assessing what is being said about a company, individual, product or brand on the Internet is referred to as

social media monitoring

A commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own nee is referred to as

sustainability

Supply chain management refers to

the actions a firm takes to coordinate the various flows within a supply chain

A company that outsources some of all of its logistics actives to other companies is engaged in

third-party logistics

Which of the following is not a purpose of social media marketing listed in our text?

to gain competitive advatage

The 3 primary objectives of an advertising campaign are

to inform, persuade, and remind

As noted in tour text, managing _________ is one of the most important logistics functions because it creates place and time utilities that are essential to keeping customers satisfied.

transportation

Charging someone less than they are willing to pay is a practice referred to as

underprincing

What is inter modal transportation?

using several types of transportation for the same shipment

Which of the following social media metrics is the most common and easiest to measure?

volume of mentions

In November, the appliance store priced its front loading washing machine at $899.00 and sold 50 units. In December they reduced the price to $799.00 and sold 53 units. Which of the following statements is accurate regarding this situation?

Demand is inelastic and total revenue fell from November to December

Which of the following is not an element of promotion mix?

Internet ordering

Compare the following statements and select the one that is accurate regarding a profit maximization strategy.

Profit maximization should not be used as a permanent pricing objective, but is effective in allowing a firm to endure a difficult time.

Jenna was excited to purchase a Bluetooth wireless speaker. She brought her purchase home and is now using it for the first time. What acronym represents where Jenna is at in the purchase process?

SMOT

You placed and order online at Staples.com for a printer and ink cartridges As part of the checkout process, you were asked to provide you email address. Now you receive emails from Staples.com regarding product you might like. this is an example of

a paid display as