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

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Question 21

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Beth works for Champion Industries overseeing the marketing mix for the firm's line of calculators.Beth serves as a brand manager for Champion Industries.

A) True
B) False

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Question 22

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Soundworthy Stereo is a producer of high quality speakers and stereo components.The company sells its products through a few preferred retailers in any geographic area.Soundworthy uses a selective distribution strategy.

A) True
B) False

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Question 23

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Public relations is the function that involves the evaluation of public attitudes and execution of a program to earn public acceptance.

Discuss the role of packaging in a firm's total product offer.

The last stage in the product life cycle is known as what?

Retailers are marketing intermediaries who sell to ultimate consumers.

A skimming pricing strategy:

A(n) _______is one type of marketing intermediary that brings together buyers and sellers and assists in negotiating an exchange,but does not take title to the goods.

Direct marketing involves having a salesperson visit the customer's home or place of business.

Brand equity refers to those factors that people associate with a specific brand name,such as awareness,perceived quality,and loyalty.

Brand loyalty refers to the degree to which customers are satisfied with a brand and are committed to further purchases.

Firms utilizing an everyday low pricing (EDLP)strategy establish a policy of special sales on a regular basis.

Total fixed costs are those costs that change when the volume of production changes.

The most effective sales promotion programs target customers,rather than employees and marketing intermediaries.

The Canadian legal system does not offer trademark protection.

Price,store surroundings,service,and brand name are all elements that consumers evaluate in a total product offer.

The first formal step in the B2C sales process is the approach.

Successful marketers attempt to think like a consumer and evaluate the value package offered by a good or service.

Rather than having frequent special sales,Walt's Warehouse has a pricing strategy that maintains lower prices than competitors all the time.Walt's pricing strategy is known as everyday low prices (EDLP).

A channel of distribution consists of the marketing intermediaries who join together to transport and store goods in their path from producers to consumers.