Question 1

______________ are finished parts that become part of a larger finished product.

Accepted Answer

A)  ​Accessory equipment 
B)  ​Process materials 
C)  ​Component parts 
D)  ​Maintence, repair, and operating products 
E)  ​Raw materials 
A)  ​Accessory equipment 
B)  ​Process materials 
C)  ​Component parts 
D)  ​Maintence, repair, and operating products 
E)  ​Raw materials

Question 2

Discuss the role of sales promotion in consumer markets. In your answer, identify several types of consumer sales promotion activities and how they might be used in an overall IMC program.

Accepted Answer

Any member of the supply chain can initi

Question 3

Unlike tangible goods, virtually all services are susceptible to inconsistency and variations in quality. Why is this so?

Accepted Answer

A)  Because services depend on people for their delivery. 
B)  Because services cannot be managed due to their intangibility. 
C)  Because services are extremely time-and-place dependent. 
D)  Because service marketers cut corners to reduce expenses. 
E)  Because service marketers make unrealistic promises to customers. 
A)  Because services depend on people for their delivery. 
B)  Because services cannot be managed due to their intangibility. 
C)  Because services are extremely time-and-place dependent. 
D)  Because service marketers cut corners to reduce expenses. 
E)  Because service marketers make unrealistic promises to customers.

Question 4

Ensuring the availability of products in the right place in the right quantities at the right time in a cost efficient manner is the main focus of:

Accepted Answer

A)  physical distribution. 
B)  marketing networks. 
C)  supply chain management. 
D)  channel management. 
E)  network management. 
A)  physical distribution. 
B)  marketing networks. 
C)  supply chain management. 
D)  channel management. 
E)  network management.

Question 5

In terms of the AIDA model, mass communication elements such as advertising and public relations tend to be very effective at:

Accepted Answer

A)  stimulating awareness of and interest in a product. 
B)  explaining highly complex and technical products. 
C)  stimulating immediate purchase of a product. 
D)  marketing high priced products. 
E)  closing the sale. 
A)  stimulating awareness of and interest in a product. 
B)  explaining highly complex and technical products. 
C)  stimulating immediate purchase of a product. 
D)  marketing high priced products. 
E)  closing the sale.

Question 6

In business markets, __________ is used to quote prices in terms of reductions or increases based on transportation costs or the actual physical distance between the buyer and the seller.

Accepted Answer

A)  transfer pricing 
B)  countertrade 
C)  geographic pricing 
D)  logistics pricing 
E)  GPS pricing 
A)  transfer pricing 
B)  countertrade 
C)  geographic pricing 
D)  logistics pricing 
E)  GPS pricing

Question 7

Which of the following statements about integrated marketing communications (IMC) is FALSE?

Accepted Answer

A)  IMC refers to the strategic, coordinated use of promotion to create one consistent message. 
B)  IMC takes a 360-degree view of the customer. 
C)  The role of mass television advertising is growing more important to IMC strategy. 
D)  IMC reduces costs and increases efficiency because it can reduce or eliminate redundancies and waste. 
E)  The key to IMC is consistency and uniformity of message across all elements of promotion. 
A)  IMC refers to the strategic, coordinated use of promotion to create one consistent message. 
B)  IMC takes a 360-degree view of the customer. 
C)  The role of mass television advertising is growing more important to IMC strategy. 
D)  IMC reduces costs and increases efficiency because it can reduce or eliminate redundancies and waste. 
E)  The key to IMC is consistency and uniformity of message across all elements of promotion.

Question 8

Which of the following statements is TRUE with respect to the relationship between price and revenue?

Accepted Answer

A)  When business is good, a price increase will increase revenue. 
B)  When business is bad, a price increase will increase revenue. 
C)  Price cuts must be offset by an increase in sales volume to keep the same level of revenue. 
D)  In highly differentiated markets, price cuts will capture greater market share. 
E)  In highly commoditized markets, price cuts will increase revenue. 
A)  When business is good, a price increase will increase revenue. 
B)  When business is bad, a price increase will increase revenue. 
C)  Price cuts must be offset by an increase in sales volume to keep the same level of revenue. 
D)  In highly differentiated markets, price cuts will capture greater market share. 
E)  In highly commoditized markets, price cuts will increase revenue.

Question 9

Instead of cutting prices, it is often a better idea for a firm to find ways to build value into the product and justify the current price.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following sales promotion methods would you recommend to a packaged goods marketer who wants to stimulate trial of a new product?

Accepted Answer

A)  a contest or sweepstake 
B)  a coupon 
C)  a free sample of the product 
D)  a rebate 
E)  a point-of-purchase display 
A)  a contest or sweepstake 
B)  a coupon 
C)  a free sample of the product 
D)  a rebate 
E)  a point-of-purchase display

Question 11

Which of the following statements best describes the term "slotting allowances"?

Accepted Answer

A)  The amount of shelf space that a retailer grants to a specific brand or product. 
B)  The amount of product from a specific manufacturer that a wholesaler agrees to carry. 
C)  A fee, paid by manufacturers to retailers, to get a product placed on retail shelves. 
D)  A fee, paid by retailers to wholesalers, to get them to carry the retailer's private label brand. 
E)  The amount of product from a specific manufacturer that a retailer agrees to carry. 
A)  The amount of shelf space that a retailer grants to a specific brand or product. 
B)  The amount of product from a specific manufacturer that a wholesaler agrees to carry. 
C)  A fee, paid by manufacturers to retailers, to get a product placed on retail shelves. 
D)  A fee, paid by retailers to wholesalers, to get them to carry the retailer's private label brand. 
E)  The amount of product from a specific manufacturer that a retailer agrees to carry.

Question 12

In many (if not most) circumstances, cutting prices to increase sales volume is not a good idea. Explain why this is so. What are some alternatives that are preferable to cutting prices?

Accepted Answer

All marketers understand the relationshi

Question 13

What is a disadvantage of cost-plus pricing?

Accepted Answer

A)  It focuses more on volume. 
B)  It is not very intuitive 
C)  It is harder to determine how many units need to be sold to break even. 
D)  It's difficult to determine the correct markup percentage 
E)  It ignores the feasibility of selling the product. 
A)  It focuses more on volume. 
B)  It is not very intuitive 
C)  It is harder to determine how many units need to be sold to break even. 
D)  It's difficult to determine the correct markup percentage 
E)  It ignores the feasibility of selling the product.

Question 14

To compete in the fast-growing hybrid segment, Honda introduced the Civic Hybrid with unique styling and great fuel economy. The Civic Hybrid was based on the traditional Honda Civic. Which product development strategy has Honda implemented?

Accepted Answer

A)  repositioning 
B)  new product line 
C)  product innovation 
D)  product improvement 
E)  product line extension 
A)  repositioning 
B)  new product line 
C)  product innovation 
D)  product improvement 
E)  product line extension

Question 15

Price elasticity is defined as:

Accepted Answer

A)  a situation where prices routinely move up and down in a short period of time. 
B)  customers' responsiveness or sensitivity to changes in price. 
C)  the impact on a product's demand when customers are in unique buying situations. 
D)  the relative ease with which prices can be changed. 
E)  price flexibility-a pricing strategy used by startup firms. 
A)  a situation where prices routinely move up and down in a short period of time. 
B)  customers' responsiveness or sensitivity to changes in price. 
C)  the impact on a product's demand when customers are in unique buying situations. 
D)  the relative ease with which prices can be changed. 
E)  price flexibility-a pricing strategy used by startup firms.

Question 16

In launching its new line of power tools, Black and Decker spent a considerable amount of time and resources to educate, motivate, and compensate members of its supply chain. By investing heavily in these types of promotions, Black and Decker hopes its __________ strategy will lead to a more effective product launch.

Accepted Answer

A)  pull 
B)  AIDA 
C)  institutional 
D)  push 
E)  placement 
A)  pull 
B)  AIDA 
C)  institutional 
D)  push 
E)  placement

Question 17

The AIDA model stands for attention, interest, desire, and action.

Accepted Answer

A) True 
 B)False

Question 18

Despite conventional thinking, __________ accounts for the bulk of promotional spending in many firms. This is especially true for firms selling consumer products in grocery stores and mass-merchandise retailers.

Accepted Answer

A)  personal selling 
B)  advertising 
C)  public relations 
D)  sales promotion 
E)  publicity 
A)  personal selling 
B)  advertising 
C)  public relations 
D)  sales promotion 
E)  publicity

Question 19

Discuss the issues associated with the increasing fragmentation of mass media audiences. How are advertisers and media companies coping with the issue?

Accepted Answer

The increasing fragmentation of consumer

Question 20

The Club is a local hair salon and day spa that caters to an upper-middle class clientele. Although price competition in the local area has been increasing, the owners of The Club have decided to focus their marketing efforts on quality, service, and value, and to resist the temptation to compete on price. In pursuing this non-price strategy, managers of The Club are ascribing to which of the following assumptions?

Accepted Answer

A)  Customers see all salons as being about the same. 
B)  The market for salon services is very price sensitive. 
C)  Customers of The Club are so loyal that price competition is not necessary. 
D)  It is difficult for competitors to copy The Club's differentiating characteristics. 
E)  The managers are ascribing to all of these assumptions. 
A)  Customers see all salons as being about the same. 
B)  The market for salon services is very price sensitive. 
C)  Customers of The Club are so loyal that price competition is not necessary. 
D)  It is difficult for competitors to copy The Club's differentiating characteristics. 
E)  The managers are ascribing to all of these assumptions.

______________ are finished parts that become part of a larger finished product.

Discuss the role of sales promotion in consumer markets. In your answer, identify several types of consumer sales promotion activities and how they might be used in an overall IMC program.

Unlike tangible goods, virtually all services are susceptible to inconsistency and variations in quality. Why is this so?

Ensuring the availability of products in the right place in the right quantities at the right time in a cost efficient manner is the main focus of:

In terms of the AIDA model, mass communication elements such as advertising and public relations tend to be very effective at:

In business markets, __________ is used to quote prices in terms of reductions or increases based on transportation costs or the actual physical distance between the buyer and the seller.

Which of the following statements about integrated marketing communications (IMC) is FALSE?

Which of the following statements is TRUE with respect to the relationship between price and revenue?

Instead of cutting prices, it is often a better idea for a firm to find ways to build value into the product and justify the current price.

Which of the following sales promotion methods would you recommend to a packaged goods marketer who wants to stimulate trial of a new product?

Which of the following statements best describes the term "slotting allowances"?

In many (if not most) circumstances, cutting prices to increase sales volume is not a good idea. Explain why this is so. What are some alternatives that are preferable to cutting prices?

What is a disadvantage of cost-plus pricing?

To compete in the fast-growing hybrid segment, Honda introduced the Civic Hybrid with unique styling and great fuel economy. The Civic Hybrid was based on the traditional Honda Civic. Which product development strategy has Honda implemented?

Price elasticity is defined as:

The AIDA model stands for attention, interest, desire, and action.

Despite conventional thinking, __________ accounts for the bulk of promotional spending in many firms. This is especially true for firms selling consumer products in grocery stores and mass-merchandise retailers.

Discuss the issues associated with the increasing fragmentation of mass media audiences. How are advertisers and media companies coping with the issue?

Marketing in Todays Economy

Strategic Marketing Planning

Collecting and Analyzing Marketing Information

Developing Competitive Advantage and Strategic Focus

Customers, Segmentation, and Target Marketing

Branding and Positioning

Ethics and Social Responsibility in Marketing Strategy

Marketing Implementation and Control

Developing and Maintaining Long-Term Customer Relationships

Filters

Exam 6: The Marketing Program

______________ are finished parts that become part of a larger finished product.

Discuss the role of sales promotion in consumer markets. In your answer, identify several types of consumer sales promotion activities and how they might be used in an overall IMC program.

Unlike tangible goods, virtually all services are susceptible to inconsistency and variations in quality. Why is this so?

Ensuring the availability of products in the right place in the right quantities at the right time in a cost efficient manner is the main focus of:

In terms of the AIDA model, mass communication elements such as advertising and public relations tend to be very effective at:

In business markets, __________ is used to quote prices in terms of reductions or increases based on transportation costs or the actual physical distance between the buyer and the seller.

Which of the following statements about integrated marketing communications (IMC) is FALSE?

Which of the following statements is TRUE with respect to the relationship between price and revenue?

Instead of cutting prices, it is often a better idea for a firm to find ways to build value into the product and justify the current price.

Which of the following sales promotion methods would you recommend to a packaged goods marketer who wants to stimulate trial of a new product?

Which of the following statements best describes the term "slotting allowances"?

In many (if not most) circumstances, cutting prices to increase sales volume is not a good idea. Explain why this is so. What are some alternatives that are preferable to cutting prices?

What is a disadvantage of cost-plus pricing?

To compete in the fast-growing hybrid segment, Honda introduced the Civic Hybrid with unique styling and great fuel economy. The Civic Hybrid was based on the traditional Honda Civic. Which product development strategy has Honda implemented?

Price elasticity is defined as:

The AIDA model stands for attention, interest, desire, and action.

Despite conventional thinking, __________ accounts for the bulk of promotional spending in many firms. This is especially true for firms selling consumer products in grocery stores and mass-merchandise retailers.

Discuss the issues associated with the increasing fragmentation of mass media audiences. How are advertisers and media companies coping with the issue?

Marketing in Todays Economy

Strategic Marketing Planning

Collecting and Analyzing Marketing Information

Developing Competitive Advantage and Strategic Focus

Customers, Segmentation, and Target Marketing

Branding and Positioning

Ethics and Social Responsibility in Marketing Strategy

Marketing Implementation and Control

Developing and Maintaining Long-Term Customer Relationships

Filters