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Exam 21: Managing the Marketing Mix: Product, Price, Place and Promotion

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Question 161

Multiple Choice

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According to the product life cycle model, sales are expected to peak in the _________ stage.

A) introduction
B) maturity
C) growth
D) commercialization

E) C) and D)
F) All of the above

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Question 162

Multiple Choice

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The cost of raw materials used to produce a good or service represent the firm's ________ costs.

A) fixed
B) variable
C) mixed
D) uncontrollable

E) A) and B)
F) A) and C)

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Question 163

Multiple Choice

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John needed transportation. Now that his new marketing job was on the horizon, it was time to go shopping. New was probably going to be out of the question. As he reviewed his options, he listed the kinds of things he wanted in a vehicle: the ability to carry some large things; a comfortable back seat for his two dogs; 4-wheel drive for snow and ice; and economical on gas. Marketers know that today's consumers:

The primary purpose of a push strategy is to:

In the battle between electronic retailers and traditional brick and mortar retailers, the electronic retailers seem to have all of the advantages needed to emerge as the clear winners.

A(n) ___________ distribution strategy distributes a product through only a preferred group of retailers in a given area.

Webster Industries is one of the first producers of a unique consumer product. The company has chosen a low-price strategy, hoping this will enable them to quickly attract many customers while discouraging potential competitors from entering the market. Webster's approach to pricing is a classic example of the skimming strategy.

Direct selling is a distribution strategy that makes extensive use of the Internet and telephone.

Target costing adds a profit margin to estimated cost of production to determine the optimal price.

A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.

Compared to advertising, publicity offers the advantage of greater:

Effective sales promotion activities target:

Which of the following strategies establishes a price based on the actions of rival firms?

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

The owners of the TriCities Mall recently renovated the mall's interior. Much of the interior of the mall was made to look like scenes from famous movies. The mall also hired employees to dress like characters from these movies. There are many types of shops in the mall, including six different jewelers; however, only one jeweler carries the very expensive Romex brand of watch that appeals to customers who are looking for status in their jewelry. Romex is practicing exclusive distribution by placing its brand in only one store in a given area.

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

As a salesperson for an electrical contractor, Greg is included as part of the target audience for sales promotions from his own company.

Marketing intermediaries:

After her sales presentation, Whitney asks her customers what color they prefer and if they would like to pay by credit card. She hopes that these questions will help the sales process move beyond the customer's questions and objections. With limited time, Whitney is utilizing a trial close to help finalize the sale more quickly.

Marcy and Liz developed a new jewelry design. They were fortunate to get the attention of a large online retailer who was willing to fund the production of the jewelry abroad, as long as the designers agreed to sell their design through its outlets for the first two years. The retailer was asking the designers to agree to __________________.