Question 1

All products follow the product life cycle.

Accepted Answer

A) True 
 B)False

Question 2

The concepts of product lines and product mixes apply to marketers of products and services.

Accepted Answer

A) True 
 B)False

Question 3

When consumers decide to purchase a particular product,they:

Accepted Answer

A)  decide on the product that advertises the most
B)  consider the total collection of benefits that the product offers.
C)  base their decision on a brand name nearly all of the time.
D)  initially evaluate the product's package.E) B) and C)
F) All of the above

Question 4

While relatively inexpensive,there are very few examples of the effectiveness of radio advertising.

Accepted Answer

A) True 
 B)False

Question 5

Miranda is a marketing manager for a large manufacturer.Her boss has asked her to evaluate a new product idea.One of the things Miranda wants to determine is how much of this product her firm would have to sell in order to break even.In order to compute this break-even level of sales,she will need to know the price of the good,the total fixed costs,and the variable cost of producing each unit.

Accepted Answer

A) True 
 B)False

Question 6

Combining a firm's promotional tools and resources to create a favourable brand image is the goal of integrated marketing communication.

Accepted Answer

A) True 
 B)False

Question 7

_________ uses price points to establish prices that help create the impression that the product is less expensive than it is.

Accepted Answer

A)  High-low pricing
B)  Everyday low pricing (EDLP) 
C)  Bundling
D)  Psychological pricingE) B) and D)
F) A) and B)

Question 8

The strategy of charging prices based on consumer demand rather than cost or a predetermined profit margin represents:

Accepted Answer

A)  competition-based pricing.
B)  cost-based pricing.
C)  target orientation.
D)  demand-oriented pricing.E) All of the above
F) A) and B)

Question 9

In putting together a promotion mix,characteristics of the target consumers need to be considered.

Accepted Answer

A) True 
 B)False

Question 10

A firm's promotion mix refers to the combination of different promotional tools used to persuade consumers to participate in an exchange.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following statements is the most accurate?

Accepted Answer

A)  Studies indicate that effective promotion focuses on the pricing elements of the marketing mix.
B)  The Internet changes the focus of promotion from "working with" to "promoting to" customers.
C)  New promotional efforts create a more interactive approach,developing a dialogue between the firm and its customers.
D)  Successful promotion utilizes each element of the promotion mix independently,creating a well-diversified message.E) A) and D)
F) B) and C)

Question 12

Home Depot and Wal-Mart use what type of pricing strategy?

Accepted Answer

A)  high-low
B)  bundling
C)  everyday low pricing
D)  psychologicalE) B) and D)
F) A) and D)

Question 13

Experience indicates that the best promotional strategy for firms operating globally is:

Accepted Answer

A)  a "one mix fits all" strategy.
B)  to uniquely design a strategy for each country.
C)  based on total operating costs.
D)  designed by foreign intermediaries.E) B) and C)
F) All of the above

Question 14

Changes in packaging can transform the product in the minds of consumers and open larger market opportunities.

Accepted Answer

A) True 
 B)False

Question 15

As a manager at Excitement Foods,Mark is responsible for the firm's Kool'n Kreamy brand of ice cream.Recently,he approved a proposal to test market new ice cream flavours.He also is considering the possibility of lowering the price of the ice cream and initiating a new advertising campaign.Mark appears to be a:

Accepted Answer

A)  product development manager.
B)  target market manager.
C)  brand manager.
D)  commercialization manager.E) A) and B)
F) A) and C)

Question 16

A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.

Accepted Answer

A)  channel specialist
B)  brand manager
C)  product engineer
D)  brand specialistE) B) and C)
F) A) and B)

Question 17

__________ involves designing a product so that it satisfies customers and meets the profit margins desired by the firm.

Accepted Answer

A)  Price discrimination
B)  Price leadership
C)  Target costing
D)  Cost-based pricingE) A) and D)
F) A) and C)

Question 18

Psychological pricing utilizes high prices to create the image of a high quality product.

Accepted Answer

A) True 
 B)False

Question 19

The job performed by brand managers:

Accepted Answer

A)  is mainly concerned with the promotion of the entire product mix of their firm.
B)  involves broad responsibilities for the marketing of a specific brand or product line.
C)  is likely to become less important in firms that utilize the Internet.
D)  focuses more on the pricing and promotion of established goods than on the development of new products.E) All of the above
F) A) and C)

Question 20

The evidence supports the position that promotional efforts specifically designed for individual countries produce:

Accepted Answer

A)  less sales and profits than a global promotional strategy.
B)  better results than a global promotional strategy.
C)  higher costs than a global promotional strategy.
D)  superior results only when the product is also produced in each country.E) None of the above
F) All of the above

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

Changes in packaging can transform the product in the minds of consumers and open larger market opportunities.

Correct Answer
verified

Combining a firm's promotional tools and resources to create a favourable brand image is the goal of integrated marketing communication.

Correct Answer
verified

All products follow the product life cycle.

Correct Answer
verified

The job performed by brand managers:

Correct Answer
verified

A firm's promotion mix refers to the combination of different promotional tools used to persuade consumers to participate in an exchange.

Correct Answer
verified

Which of the following statements is the most accurate?

Correct Answer
verified

The concepts of product lines and product mixes apply to marketers of products and services.

Correct Answer
verified

While relatively inexpensive,there are very few examples of the effectiveness of radio advertising.

Correct Answer
verified

Correct Answer
verified

__________ involves designing a product so that it satisfies customers and meets the profit margins desired by the firm.

Correct Answer
verified

Home Depot and Wal-Mart use what type of pricing strategy?

Correct Answer
verified

A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.

Correct Answer
verified

In putting together a promotion mix,characteristics of the target consumers need to be considered.

Correct Answer
verified

_________ uses price points to establish prices that help create the impression that the product is less expensive than it is.

Correct Answer
verified

When consumers decide to purchase a particular product,they:

Correct Answer
verified

The strategy of charging prices based on consumer demand rather than cost or a predetermined profit margin represents:

Correct Answer
verified

Experience indicates that the best promotional strategy for firms operating globally is:

Correct Answer
verified

Psychological pricing utilizes high prices to create the image of a high quality product.

Correct Answer
verified

Correct Answer
verified

The evidence supports the position that promotional efforts specifically designed for individual countries produce:

Correct Answer
verified

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

Changes in packaging can transform the product in the minds of consumers and open larger market opportunities.

Correct AnswerverifiedShow Answer

Combining a firm's promotional tools and resources to create a favourable brand image is the goal of integrated marketing communication.

Correct AnswerverifiedShow Answer

All products follow the product life cycle.

Correct AnswerverifiedShow Answer

The job performed by brand managers:

Correct AnswerverifiedShow Answer

A firm's promotion mix refers to the combination of different promotional tools used to persuade consumers to participate in an exchange.

Correct AnswerverifiedShow Answer

Which of the following statements is the most accurate?

Correct AnswerverifiedShow Answer

The concepts of product lines and product mixes apply to marketers of products and services.

Correct AnswerverifiedShow Answer

While relatively inexpensive,there are very few examples of the effectiveness of radio advertising.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

__________ involves designing a product so that it satisfies customers and meets the profit margins desired by the firm.

Correct AnswerverifiedShow Answer

Home Depot and Wal-Mart use what type of pricing strategy?

Correct AnswerverifiedShow Answer

A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.

Correct AnswerverifiedShow Answer

In putting together a promotion mix,characteristics of the target consumers need to be considered.

Correct AnswerverifiedShow Answer

_________ uses price points to establish prices that help create the impression that the product is less expensive than it is.

Correct AnswerverifiedShow Answer

When consumers decide to purchase a particular product,they:

Correct AnswerverifiedShow Answer

The strategy of charging prices based on consumer demand rather than cost or a predetermined profit margin represents:

Correct AnswerverifiedShow Answer

Experience indicates that the best promotional strategy for firms operating globally is:

Correct AnswerverifiedShow Answer

Psychological pricing utilizes high prices to create the image of a high quality product.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The evidence supports the position that promotional efforts specifically designed for individual countries produce:

Correct AnswerverifiedShow Answer

Correct Answer
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