Question 1

The product life cycle consists of __________ stages.

Accepted Answer

A)   3
B)   4
C)   5
D)   6E) A) and B)
F) C) and D)

Question 2

Which of the following represents a pricing strategy that establishes a low price in hopes of attracting a great number of customers and discouraging competitors?

Accepted Answer

A)   penetration strategy
B)   odd-even pricing strategy
C)   skimming strategy
D)   price lining strategyE) C) and D)
F) None of the above

Question 3

___________ is the sale of goods and services by telephone.

Accepted Answer

A)   Cel-tailing
B)   Teleselling
C)   Telemarketing
D)   Direct marketingE) B) and C)
F) None of the above

Question 4

The objective of a push promotional strategy is to move a product through a distribution channel by offering incentives to wholesalers and retailers to stock and sell the merchandise.

Accepted Answer

A) True 
 B)False

Question 5

Anything that encourages people to talk favorably about an organization may be effective word-of-mouth promotion.

Accepted Answer

A) True 
 B)False

Question 6

Delacroix Shoes produces top-quality high-fashion shoes, designed for the person concerned about style. Delacroix gives only a few preferred retailers in a given market area the right to market its product. Delacroix Shoes uses:

Accepted Answer

A)   intensive distribution.
B)   selective distribution.
C)   exclusive distribution.
D)   limited function distribution.E) C) and D)
F) B) and D)

Question 7

Mall owners tend to like kiosks because they create a marketplace atmosphere.

Accepted Answer

A) True 
 B)False

Question 8

Mark A. Teer believes he has found a surefire way to save money. He advises his friends, "Buy direct from the manufacturer. Any time intermediaries get involved, you'll pay a higher price. After all, every intermediary involved in the marketing process must charge enough to earn a profit." Mark's advice:

Accepted Answer

A)   is entirely correct. Intermediaries must charge a high enough price for the activities they perform to earn a profit, so using intermediaries must result in a higher price.
B)   is impractical, because in most markets the distribution process is so complex that it is impossible to determine who the actual producer really is.
C)    is not valid in many cases. Intermediaries do add costs to products, but they also create value by performing marketing functions efficiently. In many cases the value they create more than offsets the costs they add.
D)    is never true. Markets that make use of intermediaries can always provide goods at lower cost than those that rely on direct distribution.E) A) and B)
F) A) and C)

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

The primary difference between retailers and wholesalers is that:

Accepted Answer

A)   retailers sell consumer goods, while wholesalers sell industrial goods.
B)   retailers operate in local areas, while wholesalers operate over a wide geographic area.
C)   retailers sell to final consumers, while wholesalers sell to other organizations, such as retailers or manufacturers.
D)   retailers have sales of less than $100 million, while wholesalers have sales of $100 million or more.E) All of the above
F) None of the above

Question 11

Indiana Processing promotes its services through Mechanical Engineers Today, a trade magazine that charges Indiana Processing and other companies $5,000 per page for ______________ to help offset the magazine's publishing costs.

Accepted Answer

A)   publicity
B)   advertising
C)   public relations
D)   trade showsE) C) and D)
F) B) and D)

Question 12

Mini-Case
The Xer-Wise Corporation manufactures and markets high quality home exercise equipment. The firm has just developed a new piece of equipment that top executives believe will be a big seller if promoted correctly. The new product uses a system of adjustable weights that can be arranged in various ways to allow the user to perform exercises that tone all major muscle groups. Additionally, unlike other strength building machines, this equipment also incorporates a recumbent bicycle to provide a complete cardio workout. The entire piece of equipment is easy to assemble, and when not in use it can be folded into a compact unit that is easy to store. A group of fitness experts have tested the equipment and have provided rave reviews. Company executives believe that this product, called the MuscleMaster, will appeal to busy young adults living in relatively small apartments. Melody Fitt and Tom Trym have been assigned the responsibility of developing a promotion mix for this product. The team of Fitt and Trym is convinced that they can develop a successful promotion mix for this outstanding product.
-Tom and Melody are considering the extensive use of ads in fitness magazines and a direct mail campaign targeted at people who have bought other products made by Xer-Wise. Since these messages are geared directly to customers, it is clear that Tom and Melody want to implement a _________ strategy.

Accepted Answer

A)   push
B)   pull
C)   placement
D)   stretchE) C) and D)
F) A) and C)

Question 13

Which of the following media enables firms to quickly change their advertising message?

Accepted Answer

A)   Directories
B)   Magazines
C)   Newspapers
D)   TelevisionE) A) and B)
F) A) and D)

Question 14

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

Accepted Answer

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

Question 15

As consumers evaluate a product, price plays a small role.

Accepted Answer

A) True 
 B)False

Question 16

When marketing to consumers in the global population, it's important for companies to remember that promoting products:

Accepted Answer

A)   is easy and profitable if they are well-known brands.
B)   can be accomplished using a global approach since consumers are more alike than most people think.
C)   is best done by using personal selling and product sampling.
D)   calls for attention to cultural differences and possible translation problems.E) A) and B)
F) A) and D)

Question 17

Price leadership occurs when one or more dominant firms set pricing practices that other firms in the market follow.

Accepted Answer

A) True 
 B)False

Question 18

Many products are promoted by emphasizing their key benefits, rather than setting the price lower than that of competitive goods. This emphasis on the product's benefits illustrates a(n)  _______ strategy.

Accepted Answer

A)   penetration
B)   nonprice competition
C)   industry leader
D)   bundled packageE) A) and B)
F) A) and C)

Question 19

When people consider purchasing a good, they:

Accepted Answer

A)   are responding to the market forces of supply and demand.
B)   are most influenced by the price of the product or service.
C)   will not consider goods that require them to make a special effort to purchase.
D)   may evaluate and compare a variety of factors.E) C) and D)
F) B) and C)

Question 20

Electronic retailing is selling goods and services online to the final consumer.

Accepted Answer

A) True 
 B)False

Exam 21: Managing the Marketing Mix: Product, Price, Place and Promotion

As consumers evaluate a product, price plays a small role.

Correct Answer
verified

Electronic retailing is selling goods and services online to the final consumer.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Which of the following represents a pricing strategy that establishes a low price in hopes of attracting a great number of customers and discouraging competitors?

Correct Answer
verified

When marketing to consumers in the global population, it's important for companies to remember that promoting products:

Correct Answer
verified

The primary difference between retailers and wholesalers is that:

Correct Answer
verified

Price leadership occurs when one or more dominant firms set pricing practices that other firms in the market follow.

Correct Answer
verified

Mall owners tend to like kiosks because they create a marketplace atmosphere.

Correct Answer
verified

Indiana Processing promotes its services through Mechanical Engineers Today, a trade magazine that charges Indiana Processing and other companies $5,000 per page for ______________ to help offset the magazine's publishing costs.

Correct Answer
verified

Correct Answer
Answered by ExamLex AI

___________ is the sale of goods and services by telephone.

Correct Answer
verified

Which of the following media enables firms to quickly change their advertising message?

Correct Answer
verified

The product life cycle consists of __________ stages.

Correct Answer
verified

Anything that encourages people to talk favorably about an organization may be effective word-of-mouth promotion.

Correct Answer
verified

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

Correct Answer
verified

When people consider purchasing a good, they:

Correct Answer
verified

The objective of a push promotional strategy is to move a product through a distribution channel by offering incentives to wholesalers and retailers to stock and sell the merchandise.

Correct Answer
verified

Delacroix Shoes produces top-quality high-fashion shoes, designed for the person concerned about style. Delacroix gives only a few preferred retailers in a given market area the right to market its product. Delacroix Shoes uses:

Correct Answer
verified

Many products are promoted by emphasizing their key benefits, rather than setting the price lower than that of competitive goods. This emphasis on the product's benefits illustrates a(n) _______ strategy.

Correct Answer
verified

Exam 21: Managing the Marketing Mix: Product, Price, Place and Promotion

As consumers evaluate a product, price plays a small role.

Correct AnswerverifiedShow Answer

Electronic retailing is selling goods and services online to the final consumer.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following represents a pricing strategy that establishes a low price in hopes of attracting a great number of customers and discouraging competitors?

Correct AnswerverifiedShow Answer

When marketing to consumers in the global population, it's important for companies to remember that promoting products:

Correct AnswerverifiedShow Answer

The primary difference between retailers and wholesalers is that:

Correct AnswerverifiedShow Answer

Price leadership occurs when one or more dominant firms set pricing practices that other firms in the market follow.

Correct AnswerverifiedShow Answer

Mall owners tend to like kiosks because they create a marketplace atmosphere.

Correct AnswerverifiedShow Answer

Indiana Processing promotes its services through Mechanical Engineers Today, a trade magazine that charges Indiana Processing and other companies $5,000 per page for ______________ to help offset the magazine's publishing costs.

Correct AnswerverifiedShow Answer

Correct AnswerAnswered by ExamLex AIShow Answer

___________ is the sale of goods and services by telephone.

Correct AnswerverifiedShow Answer

Which of the following media enables firms to quickly change their advertising message?

Correct AnswerverifiedShow Answer

The product life cycle consists of __________ stages.

Correct AnswerverifiedShow Answer

Anything that encourages people to talk favorably about an organization may be effective word-of-mouth promotion.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When people consider purchasing a good, they:

Correct AnswerverifiedShow Answer

The objective of a push promotional strategy is to move a product through a distribution channel by offering incentives to wholesalers and retailers to stock and sell the merchandise.

Correct AnswerverifiedShow Answer

Delacroix Shoes produces top-quality high-fashion shoes, designed for the person concerned about style. Delacroix gives only a few preferred retailers in a given market area the right to market its product. Delacroix Shoes uses:

Correct AnswerverifiedShow Answer

Many products are promoted by emphasizing their key benefits, rather than setting the price lower than that of competitive goods. This emphasis on the product's benefits illustrates a(n) _______ strategy.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
Answered by ExamLex AI

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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