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

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Question 201

True/False

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Using effective public relations involves establishing a dialogue with customers so that information can be exchanged and trust can be developed.

A) True
B) False

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Question 202

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The best way to reduce the cost of goods is to eliminate marketing intermediaries from the distribution channel.

A) True
B) False

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Question 203

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Which of the following refers to the practice of paying to have a product appear favorably in a TV show or movie?

The evaluation of packaging as a marketing function indicates that:

Retailers are marketing intermediaries who sell to ultimate consumers.

While the UPC improves efficiency at the retail checkout counter, it has increased problems in controlling inventory.

In the terminology of multilevel marketing, which of the following statements about the relationship between upliners and downliners is most accurate? In multilevel marketing,

Lazee Ladd Furniture obtains materials from several suppliers and uses these materials to produce its goods. It relies on several marketing intermediaries to help it distribute the furniture. Together, Lazee Ladd, its suppliers, and the marketing intermediaries are all part of a supply chain.

Successful marketers attempt to think like consumers and evaluate the total product offer as a collection of impressions created by all parts of the value package.

Which of the following statements about packaging is the most accurate?

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

Any word-of-mouth promotion that puts a company's product in the public's attention is good promotion.

_________ refers to any paid, nonpersonal communication through various media by organizations and individuals who are in some way identified in the message.

A brand that has been given exclusive legal protection, such as the McDonald's golden arches, is a:

Discount stores, department stores, supermarkets, and specialty stores are all among the major types of retail stores.

The Newsville City Press is a daily newspaper serving a city with a population of just over 200,000. The publishers have placed vending machines for their paper throughout Newsville and its suburbs. They also sell their papers at most of the supermarkets, convenience stores, bookstores, and drug stores in the area. The Newsville City Press uses an intensive distribution strategy.

Community Catering Services, Inc., advertises that they are the "friendliest caterers in town." Their prices are no lower than the rates charged by competing caterers, but they put a lot of emphasis on getting to know the needs of their customers. They tailor their efforts to meet these needs, providing a unique dining experience that exactly matches the customer's expectations. Community Catering is likely to find that this approach is more effective in achieving its goals than the use of aggressive price-cutting.

Variable costs are costs that change with the level of production.

The best product development strategy for most firms is to:

Mini-Case The Xer-Wise Corporation manufactures and markets high quality home exercise equipment. The firm has just developed a new piece of equipment that top executives believe will be a big seller if promoted correctly. The new product uses a system of adjustable weights that can be arranged in various ways to allow the user to perform exercises that tone all major muscle groups. Additionally, unlike other strength building machines, this equipment also incorporates a recumbent bicycle to provide a complete cardio workout. The entire piece of equipment is easy to assemble, and when not in use it can be folded into a compact unit that is easy to store. A group of fitness experts have tested the equipment and have provided rave reviews. Company executives believe that this product, called the MuscleMaster, will appeal to busy young adults living in relatively small apartments. Melody Fitt and Tom Trym have been assigned the responsibility of developing a promotion mix for this product. The team of Fitt and Trym is convinced that they can develop a successful promotion mix for this outstanding product. -Xer-Wise markets and promotes its products to consumers online. Melody and Tom are considering a more aggressive approach to generate enthusiasm for the MuscleMaster over the Internet. They have discussed offering young adults free T-shirts and special discounts on Xer-Wise equipment if they will agree to hype the benefits of the MuscleMaster on Facebook. They are even considering setting up a program in which customers get commissions for directing friends to the Xer-Wise website. If they adopt these strategies, Tom and Melody would be utilizing: