Question 1

Felicia wants to know how many units she must sell to cover all of her costs.She indicates to you that her selling price is $20 per units,her fixed costs are $6,000,and the variable costs per unit are $15 per unit.What is her break-even point?

Accepted Answer

A)  1,200 units
B)  1,100 units
C)  400 units
D)  300 unitsE) A) and B)
F) A) and D)

Question 2

A large number of traditional retailers have developed online sites in recent years,giving customers a choice of shopping techniques.

Accepted Answer

A) True 
 B)False

Question 3

What is the advantage of a category killer? Give an example.

Accepted Answer

Category killers sell a huge v...

Question 4

Discount stores owe much of their success to a competitive strategy based on:

Accepted Answer

A)  a wide selection in a limited number of categories of goods.
B)  special credit arrangements.
C)  extra service.
D)  low prices.E) All of the above
F) A) and B)

Question 5

Selling goods and services to ultimate customers over the Internet is known as what?

Accepted Answer

A)  selective distribution
B)  multilevel marketing
C)  electronic retailing
D)  social commerceE) None of the above
F) A) and C)

Question 6

Today,packaging is:

Accepted Answer

A)  assuming an increasingly important role in the promotion of products.
B)  exclusively intended to protect the product from damage.
C)  the most expensive component of the production process.
D)  the least important component of the marketing mix.E) A) and B)
F) C) and D)

Question 7

Barker Brothers Pens utilizes a strategy of low prices to attract customers and discourage competition.This represents a_______ strategy.

Accepted Answer

A)  penetration
B)  high-low
C)  skimming
D)  bundlingE) A) and B)
F) A) and C)

Question 8

Agents are marketing intermediaries who take title to the goods they distribute and provide credit to customers who need it.

Accepted Answer

A) True 
 B)False

Question 9

The intended goal of brand equity is to establish the firm's brand name as the generic name for the product.

Accepted Answer

A) True 
 B)False

Question 10

What is the difference between promotion and advertising?

Accepted Answer

A)  very few organizations are involved in publicity
B)  promotion is the same as personal selling
C)  advertising is not paid for
D)  promotion is not paid forE) A) and C)
F) C) and D)

Question 11

One function of effective packaging is to attract the attention of consumers.

Accepted Answer

A) True 
 B)False

Question 12

Unlike other promotional tools,publicity is free.

Accepted Answer

A) True 
 B)False

Question 13

I Can't Believe That It's Medicine is an advertising slogan for a new antacid.The manufacturer claims that their antacid works faster and tastes better than any competing brand.These claims are part of the firm's strategy to achieve:

Accepted Answer

A)  product differentiation.
B)  new product development.
C)  deceptive marketing recognition.
D)  the creation of knockoff products.E) B) and D)
F) All of the above

Question 14

Sometimes a firm will lower prices below their costs in order to build a customer base.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

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

Question 16

Brand ______refers to the loyalty,perceived quality,and emotions people associate with a given brand name.

Accepted Answer

A)  identification
B)  positioning
C)  ownership
D)  equityE) All of the above
F) C) and D)

Question 17

The______ pricing strategy maintains low prices and avoids the use of special sales.

Accepted Answer

A)  everyday low pricing (EDLP) 
B)  target-based
C)  skimming
D)  cost-basedE) A) and D)
F) A) and C)

Question 18

A______ is a marketing intermediary that sells to ultimate consumers.

Accepted Answer

A)  retailer
B)  wholesaler
C)  channel captain
D)  secondary marketerE) A) and B)
F) A) and C)

Question 19

The use of coupons and sales contests represent public relations activities.

Accepted Answer

A) True 
 B)False

Question 20

The primary difference between retailers and wholesalers is that:

Accepted Answer

A)  retailers operate in local areas,while wholesalers operate over a wide geographic area.
B)  retailers have sales of less than $1 million,while wholesalers have sales of $1 million or more.
C)  retailers sell to final consumers,while wholesalers sell to other organizations,such as retailers or manufacturers.
D)  retailers sell consumer goods,while wholesalers sell industrial goods.E) A) and D)
F) A) and B)

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

Discount stores owe much of their success to a competitive strategy based on:

Correct AnswerverifiedShow Answer

The use of coupons and sales contests represent public relations activities.

Correct AnswerverifiedShow Answer

Sometimes a firm will lower prices below their costs in order to build a customer base.

Correct AnswerverifiedShow Answer

Brand ______refers to the loyalty,perceived quality,and emotions people associate with a given brand name.

Correct AnswerverifiedShow Answer

A______ is a marketing intermediary that sells to ultimate consumers.

Correct AnswerverifiedShow Answer

One function of effective packaging is to attract the attention of consumers.

Correct AnswerverifiedShow Answer

I Can't Believe That It's Medicine is an advertising slogan for a new antacid.The manufacturer claims that their antacid works faster and tastes better than any competing brand.These claims are part of the firm's strategy to achieve:

Correct AnswerverifiedShow Answer

The primary difference between retailers and wholesalers is that:

Correct AnswerverifiedShow Answer

Felicia wants to know how many units she must sell to cover all of her costs.She indicates to you that her selling price is $20 per units,her fixed costs are $6,000,and the variable costs per unit are $15 per unit.What is her break-even point?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The______ pricing strategy maintains low prices and avoids the use of special sales.

Correct AnswerverifiedShow Answer

What is the advantage of a category killer? Give an example.

Correct AnswerverifiedCategory killers sell a huge v...View AnswerShow Answer

Barker Brothers Pens utilizes a strategy of low prices to attract customers and discourage competition.This represents a_______ strategy.

Correct AnswerverifiedShow Answer

Agents are marketing intermediaries who take title to the goods they distribute and provide credit to customers who need it.

Correct AnswerverifiedShow Answer

Selling goods and services to ultimate customers over the Internet is known as what?

Correct AnswerverifiedShow Answer

Unlike other promotional tools,publicity is free.

Correct AnswerverifiedShow Answer

Today,packaging is:

Correct AnswerverifiedShow Answer

What is the difference between promotion and advertising?

Correct AnswerverifiedShow Answer

A large number of traditional retailers have developed online sites in recent years,giving customers a choice of shopping techniques.

Correct AnswerverifiedShow Answer

The intended goal of brand equity is to establish the firm's brand name as the generic name for the product.

Correct AnswerverifiedShow Answer

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Category killers sell a huge v...
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