MET 93851

subject Type Homework Help
subject Pages 16
subject Words 3546
subject Authors E. Jerome Mccarthy, Joseph Cannon, William Perreault Jr.

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page-pf1
A manufacturer of computer printers has decided to add scanners to its line. Which kind
of advertising should it stress if it wants to persuade consumers to buy its brand of more
or less similar scanners?
A. Reminder
B. Cooperative
C. Pioneering
D. Institutional
E. Indirect competitive
Answer:
Which of the following is NOT an advertising decision?
A. Who the target audience is
B. What kind of advertising to use
C. Who will do the work
D. Which media to use
E. What types of coupons will be used
Answer:
page-pf2
Which of the following is true of Generation Z?
A. It refers to the generation born immediately following the baby boom.
B. People belonging to this generation are also called Millennials.
C. This group tends to have optimistic, as opposed to realistic, views of the world.
D. This group is a part of a more ethnically diverse United States than their parents.
E. This group appears to be less accepting of different cultures, races, and religions.
Answer:
The biggest advantage of this limited-function wholesaler is that they promptly deliver
perishable products that regular wholesalers prefer not to carry.
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A. Catalog wholesalers
B. Rack jobbers
C. Truck wholesalers
D. Drop-shippers
E. Specialty wholesalers
Answer:
Which of the following is a limited-function merchant wholesaler?
A. An auction company
B. A broker
C. A manufacturers' agent
D. A general-line wholesaler
E. A rack jobber
Answer:
page-pf4
In the development of a marketing plan, blending the marketing mix would not
generally involve
A. predicting future behavior.
B. product classes.
C. strategy planning process.
D. product life cycle.
E. understanding the target market.
Answer:
A vendor is MOST likely to make a sale if the buyer has bought from the vendor before
and is doing:
A. straight rebuy buying.
B. selective buying.
C. multiple task buying.
D. modified rebuy buying.
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E. new-task buying.
Answer:
A producer sells an item to a wholesaler for $4.00, and the wholesaler uses a markup of
25 percent on its selling price and the retailer uses a markup of 30 percent on its selling
price. What will be the retailer's selling price to its customers?
A. $7.61
B. $7.55
C. $7.36
D. $7.24
E. $7.12
Answer:
page-pf6
Given the following data, compute the BEP in units:
Selling price = $2.00
Variable cost = $0.75
Fixed cost = $250,000
A. 333,334
B. 200,000
C. 125,000
D. 400,000
E. Cannot be determined with this information.
Answer:
Vending machine
A. sales now account for almost 20 percent of consumer spending.
B. retailing requires a lower margin to cover costs than for comparable products sold in
stores.
C. retailing has been declining.
D. sales now include higher-margin products like bathing suits.
E. None of these alternatives for vending machines is correct.
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Answer:
Budgeting for marketing expenses by computing a percentage of forecasted sales:
A. is especially suitable for new products.
B. always results in increased expenditure levels from year to year.
C. is very complicated-and thus this method is not used very often.
D. may lead to a drop in marketing expenses at a time when the firm wants to maintain
or expand sales.
E. tends to result in large changes in marketing expenses from year to year.
Answer:
Advertising which tries to develop selective demand for a specific brand rather than a
product category is called ______________ advertising.
A. institutional
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B. competitive
C. indirect reminder
D. direct pioneering
E. primary
Answer:
When personal computers were in the market introduction stage of their product life
cycle, advertising had to help consumers understand why they needed to own a
computer and what a computer could do. Now that personal computers are mature
products and have wide acceptance among business and home users, the advertising is
focused more on trying to get consumers to purchase a particular brand of computer.
So, personal computer advertising used to be _______________ advertising in market
introduction, but is now _______________ advertising in market maturity.
A. comparative; pioneering
B. pioneering; institutional
C. competitive; pioneering
D. pioneering; competitive
E. comparative; reminder
Answer:
page-pf9
According to the text, a salesperson may have choices about all of the following except
A. what target customers to aim at.
B. which particular products to emphasize.
C. which intermediaries to rely on or help.
D. what to manufacture.
E. how to adjust prices.
Answer:
Use this information to answer the following question that refer to the CPI case.
Conservo Products, Inc. (CPI), with annual sales of $200 million, is a well-known
producer of a variety of paper products, almost all of which are made from recycled
materials. Picnic plates account for about 70 percent of CPI's sales. The rest of the
firm's sales come from custom-designed materials-such as box liners and spacers, small
page-pfa
boxes, and disposable products-like trays, towels and napkins.
CPI's picnic plates are sold through 'sales reps" to grocery wholesalers and retail
grocery chains. The sales reps are paid a 5 percent commission on all sales in their
assigned territories. They usually handle related-but noncompeting-lines for several
other manufacturers. Along with their selling duties, the sales reps help CPI with local
advertising and sales promotion efforts. Orders for the custom products are obtained by
area managers who are paid a straight salary to call on business and institutional
customers. The area managers are trained paper specialists and often help their
customers design the products they order.
The picnic plates are priced to give CPI a 90 percent markup on the cost of producing
the product-with the cost figured by taking the total factory cost for the previous year
and dividing that total cost by the number of units produced and sold during that period.
The firm's invoices read "F.O.B.-Delivered" and "1/10, net 30." Customers are allowed
to deduct 3 percent from the face value of the invoice for buying plates in carload
quantities, and another 2 percent for advertising them locally.
The custom products are sold "F.O.B. mill"-with CPI offering a price for each job.
Competition is strong from many other manufacturers who are able to offer very similar
products which meet the customers' specifications.
CPI forecasts that sales will increase to $250 million by 2012. However, much of this
growth is tied to picnic plates-a market in which the firm has about a 7 percent market
share and faces aggressive price competition from many smaller firms with greater
brand familiarity. Further, CPI has been late with more than 50 percent of its plate
orders due to scheduling conflicts with orders for custom products.
CPI uses:
A. a direct-to-customer channel system for all its products.
B. dual distribution.
C. an indirect channel system for all its products.
D. a direct-to-customer channel system for the plates and an indirect channel system for
the custom products.
E. an indirect channel system for the plates and a direct-to-customer channel system for
the custom products.
Answer:
page-pfb
Use this information for question that refer to the Wire Products Inc. (WPI) case.
Rob Rose sat back to review the portfolio of products his company, Wire Products Inc.
(WPI), has in its product line. The company specializes in making various products for
consumer and industrial uses from hard laminated wire-coated with special paints.
1) WPI's "Wire Closet" products have been on the market for 10 years. Consumers
install the wire shelves and closet rods themselves. The market leader, Closetmaid, has
been selling similar products for more than 20 years, but so far the sales volume and
profits for the market continue to grow. Recently, several new competitors have come
into the market.
2) Three months ago, WPI entered the lawn and garden market with folding fences
made with laminated wire and branded as "Wire Fold-Fence." Previously, WPI had
never made fences or been a player in the lawn and garden market-although other
companies have been making products in this market for years. However, Rob Rose has
discovered that recent sales of wire garden fencing have leveled off and profits are
declining overall. Still, WPI thinks it has some cost advantages and can grow its own
sales and profits in this market.
3) WPI has just developed "Oil Wire," a new concept for the environmental cleanup
market. Oil Wire is coated with a special material that cleans up oil spills. There has
never been a product like this and WPI wants to quickly get the word out about its
benefits. The product is now being rolled out in selective markets.
4) Another business product is "Wire Locker" used for secure storage by gymnasiums
or companies. This style of locker has now gone out of fashion and most customers are
finding better materials to use for lockers. Aggressive selling has helped Wire Locker's
sales stay flat, but the total market for wire style lockers is only half of what it was 10
years ago.
5) WPI's "Wire Window" product is used as a security product to protect glass
windows. It sells to homeowners and retailers looking for additional safety. WPI's sales
of this product have dropped in recent years because competitors have introduced
maintenance-free products. However, the overall market for this type of product
continues to show good growth.
6) WPI is running concept tests of a new wire car-top carrier called "Wire Car Top."
There are other car-top carrier products on the market, but WPI plans to include options
in its carrier that will make it easier to load bikes, skis, and suitcases. "Wire Car Top" is
also very easy to put on and take off of the car because of its light weight and
ease-of-use features. The concept tests are helping WPI analysts develop rough
page-pfc
estimates of costs, sales, and profits.
7) Another new product idea, tentatively called "Wire Tent," is being considered. It
would use laminated wires to create a portable tent frame. This product is currently
being evaluated to determine its fit with the company's objectives and external market
trends.
Rob is thinking about the product life cycle, where each product fits, and what he
should be doing as part of his marketing plan for each of these products.
In which step of the new-product development process is the "Wire Car Top"?
A. Commercialization
B. Idea evaluation
C. Idea generation
D. Screening
E. Development
Answer:
A selective distribution policy might be used to avoid selling to wholesalers or retailers
that:
A. Place orders that are too small.
B. Make too many returns.
C. Request too much service.
D. Have poor credit.
E. All of these alternatives are correct.
page-pfd
Answer:
Compared to public warehouses, PRIVATE warehouses:
A. may have low unit costs if the volume is high.
B. are better if space will only be needed infrequently.
C. offer low fixed investments.
D. increase managerial flexibility.
E. All of these alternatives are correct.
Answer:
An advertising manager is trying to decide what words to use in a magazine ad for the
new Ford Focus. In the traditional communication model, the ad manager is the:
page-pfe
A. Source
B. Receiver
C. Noise
D. Encoder
E. Decoder
Answer:
BMW places a TV ad for its new 7-series sedan in the highly-rated Academy Awards
program. In the traditional communication model, BMW is the:
A. Source
B. Decoder
C. Receiver
D. Message channel
Answer:
page-pff
"Product" is concerned with:
A. services.
B. developing products that will satisfy some customers' needs.
C. designing, packaging, and branding new products.
D. physical goods.
E. All of these might be involved with Product.
Answer:
A good job description will help a new sales manager see:
A. the kind of training needed.
B. the kind of salespeople to be selected.
C. what selling tasks are needed.
D. how salespeople should be paid.
E. All of these alternatives are correct.
Answer:
page-pf10
Good salespeople:
A. help customers buy.
B. are never the only link between the firm and its customers.
C. are not part of the marketing information function for the firm.
D. are not expected to be marketing managers in their own territories.
E. All of these alternatives are correct.
Answer:
A retailer who advertises a low price on an item-with no intent to sell that item-but only
to attract customers to try to sell more expensive products is using:
A. full-line pricing.
B. leader pricing.
C. odd-even pricing.
D. psychological pricing.
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E. bait pricing.
Answer:
Which of the following is less likely to happen as a product moves through the later
stages of the product life cycle?
A. Place-move toward selective distribution
B. Promotion-build selective demand
C. Price-meet competition
D. Competitive situation-Heading toward pure competition
E. Product-Some drop out
Answer:
page-pf12
"Production orientation" refers to the attitudes of:
A. sales managers.
B. accountants.
C. financial managers.
D. production managers.
E. anyone who doesn't practice the marketing concept.
Answer:
Selecting an effective promotion blend to reach a firm's promotion objectives requires
careful consideration of the:
A. nature of competition.
B. promotion budget available.
C. product life cycle stage.
D. All of these should be considered.
Answer:
page-pf13
A salesperson for cold remedy products visits pharmacists during the cold season and
encourages them to use a special end-of-aisle display for his firm's cough syrup and
then helps set up the display. The salesperson is a(n)____________.
A. Customer service representative
B. Order taker
C. Technical specialist
D. Missionary salesperson
E. Order getter
Answer:
The marketing manager for Aerial Photography, Inc. says his sales reps have gotten in
the habit of setting prices which do not produce a profit. Aerial Photography apparently
is using:
A. penetration pricing.
B. introductory price dealing.
C. administered pricing.
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D. flexible pricing.
E. profit minimization pricing.
Answer:
A generic market
A. may include sellers who compete in different product-markets.
B. would probably be broader than the firm's target market.
C. might be composed of several different product-markets.
D. has sellers offering a more diverse set of products.
E. All of these are correct for a generic market.
Answer:
page-pf15
Regarding new-task organizational buying, which of the following are likely to be
involved?
A. Top managers
B. Purchasing manager
C. Production process engineers
D. Production line supervisors
E. All of these are likely to be involved in new-task organizational buying
Answer:
______ are a boom-or-bust business.
A. Accessories
B. Professional services
C. Installations
D. Specialty
E. Supplies
Answer:

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