Question 1

A high-low pricing strategy may condition consumers to avoid paying the regular prices by waiting for sale prices.

Accepted Answer

A) True 
 B)False

Question 2

A skimming pricing strategy:

Accepted Answer

A)  allows low income households the ability to purchase a particular good or service.
B)  drives competitors out of business in order to achieve a monopoly position in the market.
C)  creates a "common man" image to reach a larger market.
D)  establishes a high price in order to earn the highest possible profit while there is little competition.E) B) and C)
F) All of the above

Question 3

A(n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.

Accepted Answer

A)  channel of distribution
B)  marketing network
C)  input-output matrix
D)  mode of distributionE) A) and D)
F) All of the above

Question 4

The first stage in the product life cycle is known as what?

Accepted Answer

A)  Introduction
B)  Maturity
C)  Growth
D)  DeclineE) None of the above
F) C) and D)

Question 5

Brokers are marketing intermediaries that do not take title to the goods they help distribute.

Accepted Answer

A) True 
 B)False

Question 6

A product line is a group of products that are physically similar or are intended for a similar market.

Accepted Answer

A) True 
 B)False

Question 7

Robbie brings together buyers and sellers of used heavy construction equipment,and helps them negotiate the terms of the sale.However,Robbie never actually takes title to any of the equipment himself,nor does he provide any financing for the buyer.Robbie is acting as a:

Accepted Answer

A)  channel captain.
B)  broker.
C)  wholesaler.
D)  logistics specialist.E) B) and C)
F) B) and D)

Question 8

Direct selling has all but disappeared as a major form of non-store retailing because the trend toward two-income households means fewer opportunities for selling in the home.

Accepted Answer

A) True 
 B)False

Question 9

The _______ on packages were intended to improve inventory control for businesses.

Accepted Answer

A)  maple leaves
B)  Universal Product Codes
C)  lightweight adhesives
D)  Unit Standard Inventory barsE) All of the above
F) B) and D)

Question 10

All of the following are benefits of a brand name for a buyer except:

Accepted Answer

A)  quality assurance.
B)  help in promotional efforts.
C)  reduced search time.
D)  prestige.E) None of the above
F) All of the above

Question 11

The letters GE in a circle is General Electric's:

Accepted Answer

A)  generic name.
B)  label.
C)  trademark.
D)  brand.E) B) and D)
F) All of the above

Question 12

One function of effective packaging is to attract the attention of consumers.

Accepted Answer

A) True 
 B)False

Question 13

A __________ is a marketing intermediary that sells to ultimate consumers.

Accepted Answer

A)  channel captain
B)  wholesaler
C)  secondary marketer
D)  retailerE) A) and B)
F) A) and C)

Question 14

A skimming price strategy involves a low pricing policy intended to attract price-sensitive customers from competitors.

Accepted Answer

A) True 
 B)False

Question 15

Words 4 Hire is a nationwide chain of stores that offers such a huge selection of paperback and hardcover books at such competitive prices that small local bookstores have a hard time competing with them.Words 4 Hire is best classified as a discount store.

Accepted Answer

A) True 
 B)False

Question 16

A major advantage of direct selling marketing is that it is a very convenient way for consumers to shop.

Accepted Answer

A) True 
 B)False

Question 17

Jian has entered into a contract with the federal government to design a computer simulation model for training helicopter pilots.The contract calls for the final price to be set at a fixed percentage profit over and above her cost of production.This seems to represent a:

Accepted Answer

A)  cost-based pricing strategy.
B)  supply and demand formula.
C)  demand-based pricing.
D)  price leadership.E) B) and C)
F) All of the above

Question 18

The benefits provided by a brand name for a buyer include reduced search time,prestige,and quality assurance.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Accepted Answer

A)  Product matrix.
B)  Product line.
C)  Product mix.
D)  Total product offer.E) C) and D)
F) A) and C)

Question 20

A penetration strategy calls for a firm to charge low prices with the intent of attracting a large number of customers and discouraging competition.

Accepted Answer

A) True 
 B)False

Exam 15: Managing the Marketing Mix: Product, Price, Place, and Promotion

Jian has entered into a contract with the federal government to design a computer simulation model for training helicopter pilots.The contract calls for the final price to be set at a fixed percentage profit over and above her cost of production.This seems to represent a:

Correct AnswerverifiedShow Answer

A product line is a group of products that are physically similar or are intended for a similar market.

Correct AnswerverifiedShow Answer

Brokers are marketing intermediaries that do not take title to the goods they help distribute.

Correct AnswerverifiedShow Answer

A(n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.

Correct AnswerverifiedShow Answer

One function of effective packaging is to attract the attention of consumers.

Correct AnswerverifiedShow Answer

All of the following are benefits of a brand name for a buyer except:

Correct AnswerverifiedShow Answer

A skimming price strategy involves a low pricing policy intended to attract price-sensitive customers from competitors.

Correct AnswerverifiedShow Answer

The benefits provided by a brand name for a buyer include reduced search time,prestige,and quality assurance.

Correct AnswerverifiedShow Answer

A major advantage of direct selling marketing is that it is a very convenient way for consumers to shop.

Correct AnswerverifiedShow Answer

A __________ is a marketing intermediary that sells to ultimate consumers.

Correct AnswerverifiedShow Answer

Words 4 Hire is a nationwide chain of stores that offers such a huge selection of paperback and hardcover books at such competitive prices that small local bookstores have a hard time competing with them.Words 4 Hire is best classified as a discount store.

Correct AnswerverifiedShow Answer

A high-low pricing strategy may condition consumers to avoid paying the regular prices by waiting for sale prices.

Correct AnswerverifiedShow Answer

A penetration strategy calls for a firm to charge low prices with the intent of attracting a large number of customers and discouraging competition.

Correct AnswerverifiedShow Answer

The first stage in the product life cycle is known as what?

Correct AnswerverifiedShow Answer

The _______ on packages were intended to improve inventory control for businesses.

Correct AnswerverifiedShow Answer

Direct selling has all but disappeared as a major form of non-store retailing because the trend toward two-income households means fewer opportunities for selling in the home.

Correct AnswerverifiedShow Answer

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Correct AnswerverifiedShow Answer

A skimming pricing strategy:

Correct AnswerverifiedShow Answer

Robbie brings together buyers and sellers of used heavy construction equipment,and helps them negotiate the terms of the sale.However,Robbie never actually takes title to any of the equipment himself,nor does he provide any financing for the buyer.Robbie is acting as a:

Correct AnswerverifiedShow Answer

The letters GE in a circle is General Electric's:

Correct AnswerverifiedShow Answer

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