Question 1. Question : Which of the following is an advantage of adding new chan

Question

Question 1.

Question :

Which of the following is an advantage of adding new channels in a multichannel distribution system?

Expanding sales and market coverage

Points Received:

5 of 5

Comments:

Question 2.

Question :

Ford and its network of independent franchised dealers is an example of a __________.

Student Answer:

manufacturer-sponsored retailer franchise system

Points Received:

5 of 5

Comments:

Question 3.

Question :

In a(n) __________, two or more companies at one level join together to follow a new marketing opportunity.

horizontal marketing system

Points Received:

5 of 5

Comments:

Question 4.

Question :

Relative advantage, compatibility, complexity, divisibility, and communicability are all characteristics of __________.

a product's rate of adoption

Points Received:

5 of 5

Comments:

Question 5.

Question :

A particular automobile company works to keep its customers happy after each sale, aiming to delight each one of them in order to increase their customer lifetime value. Which of the following steps of the buyer decision process does the company exemplify?

Post-purchase behavior (Page Ref: 155

POOL 3)

Points Received:

5 of 5

Comments:

Question 6.

Question :

Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She actively shares her knowledge with a wide group of friends and colleagues about where to shop for the latest fashion at great deals. Most of her friends and colleagues follow her fashion tips. Rachel portrays the image of a(n) __________.

opinion leader

Points Received:

0 of 5

Comments:

Question 7.

Question :

__________ includes all activities involved in selling goods and services to those buying for resale or business use.

Student Answer:

Wholesaling

Points Received:

0 of 5

Comments:

Question 8.

Question :

Smaller companies may assign specific executives to watch particular competitors. A manager who used to work for a competitor might follow that competitor closely to see what it does in the marketplace. Such a manager would be considered the company's __________ on that competitor.

in-house expert

Points Received:

0 of 5

Comments:

Question 9.

Question :

Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of __________.

Student Answer:

everyday low pricing

Points Received:

5 of 5

Comments:

Question 10.

Question :

Electrowhip, a company that manufacturers blenders and electric whisks, has decided to use a market-penetration pricing strategy. Which of the following, if true, proves their decision to be a wise one?

Electrowhip operates in a market with many competitors.

Points Received:

0 of 5

Comments:

Question 11.

Question :

Which of the following statements about break-even analysis is true?

It is calculated by using variable costs, the unit price, and fixed costs. (Page Ref: 298)

Points Received:

5 of 5

Comments:

Question 12.

Question :

Mansfield Pharmaceuticals markets Zipro, an antibiotic. The firm has fixed costs of $1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle. What is the break-even volume?

125,000 (Page Ref: 298)

Points Received:

0 of 5

Comments:

Question 13.

Question :

Which of the following is true of price changes?

A drop in price can adversely affect how consumers view the brand.

Points Received:

0 of 5

Comments:

Question 14.

Question :

Sears and Holiday Inn encountered difficult times because they did not stand out as the lowest in cost, highest in perceived value, or best in serving some market segment. Both companies are __________.

middle-of-the-roaders

Points Received:

5 of 5

Comments:

Question 15.

Question :

What concept does the following formula “percent of change in quantity divided by the percent of change in price” represent?

Elasticity

Points Received:

5 of 5

Comments:

Question 16.

Question :

Canine Couture is launching a new line of hand-stitched doggy duds made from silk, cashmere, and linen. Couture has intentionally limited production and set prices for the new line at about four times the average price for other pet clothes in hopes of creating a prestige line. What pricing strategy is Canine Couture using?

Skimming

Points Received:

0 of 5

Comments:

Question 17.

Question :

Cats and Rats is a tablet game that allows players to be one or the other and try to outsmart their opponents. In order to win, the players need an occasional energy boost in the form of a nap, which is free, or the player can pay for Cat Treats or Cheese Nibbles for their cat or rat. What form of pricing is this?

Freemium

Points Received:

5 of 5

Comments:

Question 18.

Question :

Sam was visiting her grandparents during Spring Break and was appalled when they insisted on going to dinner at 5:30 to get the Early Bird Specials. What type of pricing strategy is making Sam insane?

Segmented

Points Received:

0 of 5

Comments:

Question 19.

Question :

Reindeer Games, a new Christmas-themed video, pizza, and ice cream restaurant targeting families with young children, is located in an area that is also home to Chucky Cheese and a bounce activity center. As both of the latter are well established, the owner of Reindeer Games decided to launch her business with pricing on games and pizza parties about 20% lower than her competitors. What pricing strategy is Reindeer Games using for their launch?

Penetration

Points Received:

0 of 5

Comments:

Question 20.

Question :

John and Robin run a small, but trendy, craft beer and pizza restaurant in a part of town that has a number of nighttime and dining options. The couple are discussing raising their prices on their “pint and slice” after-work special; however, they are concerned that their customers may decide that the new price is too high and sales will drop. What pricing concept is worrying John and Robin?

Elasticity

Points Received:

0 of 5

Comments:

Grade Details - All Questions

Question 1.

Question :

HP's advertising agency assembles words and illustrations into an advertisement that conveys the company's intended brand message. In the context of the communication process, HP is __________.

encoding

Points Received:

5 of 5

Comments:

Question 2.

Question :

Which of the following is most likely a shortcoming of advertising?

It is impersonal and lacks the direct persuasiveness of company salespeople.

Points Received:

0 of 5

Comments:

Question 3.

Question :

Which of the following appeals is based on the idea that consumers often feel before they think?

Student Answer:

Emotional appeal

Points Received:

5 of 5

Comments:

Question 4.

Question :

Display media includes __________.

billboards (Page Ref: 419)

Points Received:

0 of 5

Comments:

Question 5.

Question :

A(n) __________ is a set of symbols that the sender transmits.

message

Points Received:

5 of 5

Comments:

Question 6.

Question :

Which of the following statements is most likely true about radio as an advertising medium?

Radio advertising is characterized by good local acceptance. (Page Ref: 447)

Points Received:

0 of 5

Comments:

Question 7.

Question :

After determining its advertising objectives, a company's next step in developing an advertising program is to __________.

Student Answer:

set an advertising budget

Points Received:

5 of 5

Comments:

Question 8.

Question :

The National Pork Board developed "Pork. The Other White Meat" campaign. The campaign provided nutritional information and pork recipes in an attempt to encourage people to view pork as a tasty alternative to poultry and fish. Which of the following functions was the goal of this public relations campaign?

Rebuilding consumer interest in pork (Page Ref: 454)

Points Received:

5 of 5

Comments:

Question 9.

Question :

__________ are staged occurrences that communicate messages to target audiences.

Events

Points Received:

5 of 5

Comments:

Question 10.

Question :

Which of the following is a disadvantage of using direct mail as an advertising medium?

Relatively high cost per exposure

Points Received:

5 of 5

Comments:

Question 11.

Question :

Bose offers $50 cash back to customers who purchase a new speaker and send in a proof of purchase. This is an example of a __________.

Student Answer:

rebate

Points Received:

5 of 5

Comments:

Question 12.

Question :

A five-foot-high cardboard display of Terry the polar bear, mascot of Terry's protein shake, next to the shelf containing Terry's products in a supermarket, is an example of a(n) __________.

point-of-purchase promotion

Points Received:

5 of 5

Comments:

Question 13.

Question :

A sales person of a manufacturing company has qualified a number of leads. Which of the following is most likely the next step in the selling process?

Learning as much as possible about the qualified prospects.

Question 14.

Question :

Kirk Wilkins renewed his cell phone contract with Zip Wireless Services and purchased a new cell phone through the Zip website. If Kirk mails Zip Wireless Services his transaction receipt, he would be eligible to receive $50 as cash refund. Which of the following types of sales promotion is evident here?

Rebate (Page Ref: 484)

Points Received:

5 of 5

Comments:

Question 15.

Question :

Which of the following questions would help a marketer evaluate the return on a sales promotion investment?

Did the promotion attract new customers or more purchasing from current customers?

Question 16.

Question :

__________ involves sending an offer, announcement, reminder, or other item to a person at a particular address.

Direct-mail marketing

Question 17.

Question :

What is the most likely reason that direct-response television marketing has increased in recent years?

Advancements in technology

Question 18.

Question :

Renkel Cosmetics sends a sample of the newest cosmetics line to all premium members' addresses. Which of the following best describes Renkel's form of marketing?

Direct-mail marketing (Page Ref: 503)

Points Received:

5 of 5

Comments:

Question 19.

Question :

Florian Fasteners recently introduced a new line of products. In order to promote its product, it sent samples to the addresses of a few select customers. Which of the following types of marketing is evident from this example?

Student Answer:

Direct-mail marketing

Points Received:

5 of 5

Comments:

Question 20.

Question :

Which of the following terms refers to a 30-minute television advertising program that markets a single product?

Infomercial (Page Ref: 503)

Question 1.

Question :

Which of the following is an advantage of adding new channels in a multichannel distribution system?

Expanding sales and market coverage

Points Received:

5 of 5

Comments:

Question 2.

Question :

Ford and its network of independent franchised dealers is an example of a __________.

Student Answer:

manufacturer-sponsored retailer franchise system

Points Received:

5 of 5

Comments:

Question 3.

Question :

In a(n) __________, two or more companies at one level join together to follow a new marketing opportunity.

horizontal marketing system

Points Received:

5 of 5

Comments:

Question 4.

Question :

Relative advantage, compatibility, complexity, divisibility, and communicability are all characteristics of __________.

a product's rate of adoption

Points Received:

5 of 5

Comments:

Question 5.

Question :

A particular automobile company works to keep its customers happy after each sale, aiming to delight each one of them in order to increase their customer lifetime value. Which of the following steps of the buyer decision process does the company exemplify?

Post-purchase behavior (Page Ref: 155

POOL 3)

Points Received:

5 of 5

Comments:

Question 6.

Question :

Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She actively shares her knowledge with a wide group of friends and colleagues about where to shop for the latest fashion at great deals. Most of her friends and colleagues follow her fashion tips. Rachel portrays the image of a(n) __________.

opinion leader

Points Received:

0 of 5

Comments:

Question 7.

Question :

__________ includes all activities involved in selling goods and services to those buying for resale or business use.

Student Answer:

Wholesaling

Points Received:

0 of 5

Comments:

Question 8.

Question :

Smaller companies may assign specific executives to watch particular competitors. A manager who used to work for a competitor might follow that competitor closely to see what it does in the marketplace. Such a manager would be considered the company's __________ on that competitor.

in-house expert

Points Received:

0 of 5

Comments:

Question 9.

Question :

Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of __________.

Student Answer:

everyday low pricing

Points Received:

5 of 5

Comments:

Question 10.

Question :

Electrowhip, a company that manufacturers blenders and electric whisks, has decided to use a market-penetration pricing strategy. Which of the following, if true, proves their decision to be a wise one?

Electrowhip operates in a market with many competitors.

Points Received:

0 of 5

Comments:

Question 11.

Question :

Which of the following statements about break-even analysis is true?

It is calculated by using variable costs, the unit price, and fixed costs. (Page Ref: 298)

Points Received:

5 of 5

Comments:

Question 12.

Question :

Mansfield Pharmaceuticals markets Zipro, an antibiotic. The firm has fixed costs of $1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle. What is the break-even volume?

125,000 (Page Ref: 298)

Points Received:

0 of 5

Comments:

Question 13.

Question :

Which of the following is true of price changes?

A drop in price can adversely affect how consumers view the brand.

Points Received:

0 of 5

Comments:

Question 14.

Question :

Sears and Holiday Inn encountered difficult times because they did not stand out as the lowest in cost, highest in perceived value, or best in serving some market segment. Both companies are __________.

middle-of-the-roaders

Points Received:

5 of 5

Comments:

Question 15.

Question :

What concept does the following formula “percent of change in quantity divided by the percent of change in price” represent?

Elasticity

Points Received:

5 of 5

Comments:

Question 16.

Question :

Canine Couture is launching a new line of hand-stitched doggy duds made from silk, cashmere, and linen. Couture has intentionally limited production and set prices for the new line at about four times the average price for other pet clothes in hopes of creating a prestige line. What pricing strategy is Canine Couture using?

Skimming

Points Received:

0 of 5

Comments:

Question 17.

Question :

Cats and Rats is a tablet game that allows players to be one or the other and try to outsmart their opponents. In order to win, the players need an occasional energy boost in the form of a nap, which is free, or the player can pay for Cat Treats or Cheese Nibbles for their cat or rat. What form of pricing is this?

Freemium

Points Received:

5 of 5

Comments:

Question 18.

Question :

Sam was visiting her grandparents during Spring Break and was appalled when they insisted on going to dinner at 5:30 to get the Early Bird Specials. What type of pricing strategy is making Sam insane?

Segmented

Points Received:

0 of 5

Comments:

Question 19.

Question :

Reindeer Games, a new Christmas-themed video, pizza, and ice cream restaurant targeting families with young children, is located in an area that is also home to Chucky Cheese and a bounce activity center. As both of the latter are well established, the owner of Reindeer Games decided to launch her business with pricing on games and pizza parties about 20% lower than her competitors. What pricing strategy is Reindeer Games using for their launch?

Penetration

Points Received:

0 of 5

Comments:

Question 20.

Question :

John and Robin run a small, but trendy, craft beer and pizza restaurant in a part of town that has a number of nighttime and dining options. The couple are discussing raising their prices on their “pint and slice” after-work special; however, they are concerned that their customers may decide that the new price is too high and sales will drop. What pricing concept is worrying John and Robin?

Elasticity

Points Received:

0 of 5

Comments:

Grade Details - All Questions

Explanation / Answer

1. The correct option is expanding sales and market coverage.

2. The correct option is manufacturer-sponsored retailer franchise system.

3. The correct option is horizontal marketing system.

4. The correct option is product

characteristics that influence rate of adoption.

6. The correct option is opinion leader.

7. The correct option is wholesaling.

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