Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
When the price of a pack of Crispo potato wafers was increased from $4 to $5, the
quantity demanded by local retail stores went down by 50%. Hence, the price elasticity
of demand for Crispo is ________.
A) -2
B) 2
C) 4
D) -4
E) 0.5
Which of the following is true of the exclusive distribution strategy?
A) It makes products available to everybody, everywhere.
B) It is used primarily for convenience items.
C) It helps promote a brand's luxury image.
D) It gives producers no control over their products.
E) It enlists all of the intermediaries willing to carry a company's products.
The winning value proposition would be to offer ________.
A) more for the same
B) more for less
C) more for more
D) same for less
E) same for more
Bon Vivant offers an assortment of exclusive French wines at incredibly low prices.
These prices are neither limited-time offers nor special discounts, but represent the
daily prices of products sold by Bon Vivant. This reflects Bon Vivant's ________
strategy.
A) everyday low pricing
B) markup pricing
C) penetration pricing
D) break-even pricing
E) cost-based pricing
The experience curve reveals that ________.
A) repetition in production has no visible impact on production costs
B) repetition in production enhances efficiency
C) the average cost of production remains the same with accumulated production
experience
D) repetition in production adds to the costs and thereby increases the prices of outputs
E) the average cost of production increases with accumulated production experience
Keeping the brand in a customer's mind during off-seasons is most likely a goal of
________ advertising.
A) reminder
B) attack
C) informative
D) covert
E) competitive
Herb Marks was making wooden pens and pencils, which had unique engravings, as a
hobby until Mel Yoder recognized Herb's talent. Mel immediately ordered 250 pens and
pencils of various styles to be displayed in his shop's showcase. Within three months,
the wooden pencils were a hit with all school goers! Herb Marks had never thought of
marketing his talent, but Mel's enthusiasm and the recent sales were enough to change
his mind.
With limited resources, Herb contacted three additional specialty shops within 100
miles which were situated near schools. He explained his manufacturing processes and
engraving options to each. All three shop owners placed a trial order. Within two
months, just prior to the holiday season, each shop owner placed an additional order.
Herb was ecstatic!
"I figured business would slow down after that," Herb stated, "but in February I was
contacted by Elmore Distributors. At that point, I had to make a huge decision about
how far I wanted to go with this business."
Elmore Distributors provides products for school fundraisers in a seven-state area. Herb
was offered a two-year contract and immediate inclusion in Elmore's promotional flyer.
Herb Marks accepted the offer and, along with it, the responsibility to produce
thousands of wooden pens and pencils.
"I had to get a grip on the magnitude of this project," Herb added.
Herb decided to place his major focus on the large contract with Elmore. However, to
avoid placing his total emphasis with one customer, Herb continued nurturing his four
previously established accounts without targeting any additional customers.
"At this point, I had set up an assembly line in a rented building," Herb explained. "I
had to hire three full-time employees to work the line while I managed the customer
orders and purchased materials." Herb paused. "But I can't take the Elmore project for
granted. It might not always be there. I'll have to have a good alternate plan if that day
comes."
In marketing his wooden pens and pencils to specialty-shop customers, Herb was most
likely using ________ marketing.
A) mass
B) trigger-based
C) concentrated
D) segmented
E) individual
A pastor from Kansas believes that adultery is immoral. This refers to the pastor's
________.
A) secondary belief
B) acquired belief
C) social identity
D) core belief
E) cultural orientation
Which of the following is a part of an internal green marketing program?
A) design for environment practices
B) cradle-to-cradle practices
C) biodegradable packaging
D) product stewardship
E) new clean technology
Most products in the marketplace are in the ________ stage of the product life cycle.
A) growth
B) decline
C) maturity
D) introduction
E) development
Business-to-consumer companies are more likely to emphasize a ________ promotion
strategy, while business-to-business companies are more likely to emphasize a
________ promotion strategy.
A) pull; push
B) push; pull
C) pulse; pull
D) blitz; pull
E) push; blitz
The first step in initiating competitive marketing strategies is to ________.
A) balance customer and competitor orientations
B) design broad competitive marketing strategies
C) assess long-term organizational objectives
D) conduct competitor analysis
E) conduct transaction analysis
Consumer advocates, government agencies, and other critics have accused marketing of
harming consumers through ________.
A) technological obsolescence
B) sales promotion tactics
C) viral marketing
D) anti-trust laws
E) planned obsolescence
The marketing department of a reputed firm wants to improve strategic decision
making, track the actions of other players in the market, and provide early warning of
opportunities and threats. Which of the following would help the firm achieve its
objectives?
A) ethnographic research
B) blindspots analysis
C) data warehousing
D) competitive marketing intelligence
E) customer relationship management
The marketing world is most likely embracing ________ because consumers wield
greater power nowadays with a wealth of platforms for airing and sharing their brand
views with other consumers.
A) partner relationship management
B) supply chain management
C) customer-managed relationships
D) market segmentation
E) consumer ethnocentrism
A country with a(n) ________ has rich markets for many different kinds of goods.
A) industrial economy
B) gift economy
C) barter economy
D) subsistence economy
E) natural economy
In the case of services, captive product pricing is called ________ pricing.
A) by-product
B) optional product
C) two-part
D) bundle
E) segmented
________ are communities over the Internet where people congregate, socialize, and
exchange views and information.
A) Corporate Web sites
B) Interactive television
C) Digital catalogs
D) Online social networks
E) Content sponsorships
Freight-absorption pricing is used for ________.
A) penetrating international markets
B) generating customer buzz about new products
C) holding on to increasingly competitive markets
D) generating quick profits to offset input costs
E) maintaining quality service records
What is the most common type of agent wholesaler?
A) wholesale merchant
B) industrial distributor
C) limited-service wholesaler
D) manufacturers' representative
E) truck jobber
