Question 1

Bill and Farrah have been recently hired by Superior Audio Systems,a cutting-edge manufacturer of speakers.They have been assigned to work on a product team for the Superior V,an existing product,and the Superior VI,a brand-new speaker technology.The team is reviewing the pricing strategy used to this point.Bill insists that they should price the speakers to maximize profits.He explains,"It is basic economics: companies price their products to maximize profits.There's no question,this is the strategy that we should use." Farrah,remembering what she learned in her marketing courses,isn't so sure that Bill is right.Farrah explains why Superior Audio Systems might not want to set prices for the Superior V at a level that maximizes profits.What do you expect that Farrah will tell Bill?

Accepted Answer

Farrah will likely explain that a firm m...

Question 2

What is the advantage of using trucks as a method of transporting goods?

Accepted Answer

A)  Lowest rates
B)  Unaffected by weather conditions
C)  Fastest delivery times
D)  Less packaging of the product is required: therefore,packaging costs are lower
E)  Flexibility,dependability,and fast service to most parts of Canada

Question 3

________ are used in the initial phases to help create awareness for a new product or service.

Accepted Answer

A)  Sales Promotions and outdoor media
B)  Advertising and publicity
C)  Personal selling and sales promotions
D)  Publicity and Personal Selling
E)  Direct mail and personal selling

Question 4

Why would you expect a product sold at a specialty store to cost more than the same product that is sold at a department store?

Accepted Answer

Department stores are usually large and ...

Question 5

Explain the primary difference between a wholesaler and a sales agent.

Accepted Answer

The primary difference is the role that ...

Question 6

How do agents differ from brokers?

Accepted Answer

A)  Agents receive commissions.
B)  Brokers take title to merchandise,but agents do not.
C)  Brokers provide information services to customers,but agents do not.
D)  Agents take title to merchandise,brokers do not.
E)  Agents deal in the product lines of a few producers usually on a long-term basis,whereas brokers match sellers and buyers as needed.

Question 7

Which of the following is correct with regard to the various modes of transportation?

Accepted Answer

A)  Water transportation is the least expensive,but slowest of the various modes.
B)  One of the disadvantages of air travel is that it increases packing and handling costs.
C)  Trucks are a particularly good choice for long-distance distribution and for less expensive products.
D)  Overall,trucks are the best way to transport goods.
E)  All of these are correct.

Question 8

List the three degrees of market coverage.

Accepted Answer

Intensive,...

Question 9

What results can be expected if Hydro Supreme Ltd.uses a price skimming strategy to price its new revolutionary irrigation systems?

Accepted Answer

A)  Large profits may be earned on each sale.
B)  It may generate a lot of consumer interest,but very low profits.
C)  It permits the company to gain entrance into a market and then later adjust the price to a more realistic figure.
D)  It generates a lot of consumer interest.
E)  It will increase Hydro Supreme's market share.

Question 10

A good example of cost-oriented pricing is theatre ticket prices for Hollywood films.

Accepted Answer

A) True 
 B)False

Question 11

What are the costs that need to be paid regardless of how much of a product is produced and sold called?

Accepted Answer

A)  Secure costs
B)  Fixed costs
C)  Established costs
D)  Sunk costs
E)  Sheltered costs

Question 12

Dell uses the ________ channel of distribution.

Accepted Answer

A)  direct distribution
B)  retail distribution
C)  wholesale distribution
D)  distribution by agents
E)  distribution by brokers

Question 13

Goodyear and Levi's have their own retail outlets.This is an example of which distribution channel?

Accepted Answer

A)  Direct distribution
B)  Retail distribution
C)  Wholesale distribution
D)  Distribution by agents
E)  Distribution by brokers

Question 14

Which of the following pricing strategies best describes price lining?

Accepted Answer

A)  Setting an initial low price to establish a new product in the market
B)  Setting an initial high price to cover new product costs and generate a profit
C)  Setting individually negotiated prices for certain categories of products
D)  Setting a limited number of prices for certain categories of products
E)  Setting individually negotiated prices for all categories of products

Question 15

What is the promotional mix? What are the elements in the promotional mix?

Accepted Answer

The promotional mix is the com...

Question 16

What is public relations?

Accepted Answer

Public relations is company-in...

Question 17

What is publicity?

Accepted Answer

Publicity is a promotional too...

Question 18

Companies often price their products to establish ________,a company's percentage of the total market sales for a specific product type.

Accepted Answer

A)  break-even point
B)  sales percentage
C)  variable costs
D)  fixed costs
E)  market share

Question 19

All of the following are advantages of plane transportation except

Accepted Answer

A)  reduced shipping costs.
B)  speed.
C)  reduced inventory carrying costs.
D)  reduced handling costs.
E)  reduced costs in packing.

Question 20

Spending on television advertising has increased in recent years because of "binge watching."

Accepted Answer

A) True 
 B)False

Exam 13: Pricing,promoting,and Distributing Products

Which of the following pricing strategies best describes price lining?

Correct Answer
verified

Goodyear and Levi's have their own retail outlets.This is an example of which distribution channel?

Correct Answer
verified

Explain the primary difference between a wholesaler and a sales agent.

Correct Answer
verified
The primary difference is the role that ...
View Answer

A good example of cost-oriented pricing is theatre ticket prices for Hollywood films.

Correct Answer
verified

What results can be expected if Hydro Supreme Ltd.uses a price skimming strategy to price its new revolutionary irrigation systems?

Correct Answer
verified

What is public relations?

Correct Answer
verified
Public relations is company-in...
View Answer

Why would you expect a product sold at a specialty store to cost more than the same product that is sold at a department store?

Correct Answer
verified
Department stores are usually large and ...
View Answer

Spending on television advertising has increased in recent years because of "binge watching."

Correct Answer
verified

What is the promotional mix? What are the elements in the promotional mix?

Correct Answer
verified
The promotional mix is the com...
View Answer

What is the advantage of using trucks as a method of transporting goods?

Correct Answer
verified

________ are used in the initial phases to help create awareness for a new product or service.

Correct Answer
verified

What is publicity?

Correct Answer
verified
Publicity is a promotional too...
View Answer

Companies often price their products to establish ________,a company's percentage of the total market sales for a specific product type.

Correct Answer
verified

How do agents differ from brokers?

Correct Answer
verified

Correct Answer
verified
Farrah will likely explain that a firm m...
View Answer

What are the costs that need to be paid regardless of how much of a product is produced and sold called?

Correct Answer
verified

All of the following are advantages of plane transportation except

Correct Answer
verified

Which of the following is correct with regard to the various modes of transportation?

Correct Answer
verified

List the three degrees of market coverage.

Correct Answer
verified
Intensive,...
View Answer

Dell uses the ________ channel of distribution.

Correct Answer
verified

Exam 13: Pricing,promoting,and Distributing Products

Which of the following pricing strategies best describes price lining?

Correct AnswerverifiedShow Answer

Goodyear and Levi's have their own retail outlets.This is an example of which distribution channel?

Correct AnswerverifiedShow Answer

Explain the primary difference between a wholesaler and a sales agent.

Correct AnswerverifiedThe primary difference is the role that ...View AnswerShow Answer

A good example of cost-oriented pricing is theatre ticket prices for Hollywood films.

Correct AnswerverifiedShow Answer

What results can be expected if Hydro Supreme Ltd.uses a price skimming strategy to price its new revolutionary irrigation systems?

Correct AnswerverifiedShow Answer

What is public relations?

Correct AnswerverifiedPublic relations is company-in...View AnswerShow Answer

Why would you expect a product sold at a specialty store to cost more than the same product that is sold at a department store?

Correct AnswerverifiedDepartment stores are usually large and ...View AnswerShow Answer

Spending on television advertising has increased in recent years because of "binge watching."

Correct AnswerverifiedShow Answer

What is the promotional mix? What are the elements in the promotional mix?

Correct AnswerverifiedThe promotional mix is the com...View AnswerShow Answer

What is the advantage of using trucks as a method of transporting goods?

Correct AnswerverifiedShow Answer

________ are used in the initial phases to help create awareness for a new product or service.

Correct AnswerverifiedShow Answer

What is publicity?

Correct AnswerverifiedPublicity is a promotional too...View AnswerShow Answer

Companies often price their products to establish ________,a company's percentage of the total market sales for a specific product type.

Correct AnswerverifiedShow Answer

How do agents differ from brokers?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedFarrah will likely explain that a firm m...View AnswerShow Answer

What are the costs that need to be paid regardless of how much of a product is produced and sold called?

Correct AnswerverifiedShow Answer

All of the following are advantages of plane transportation except

Correct AnswerverifiedShow Answer

Which of the following is correct with regard to the various modes of transportation?

Correct AnswerverifiedShow Answer

List the three degrees of market coverage.

Correct AnswerverifiedIntensive,...View AnswerShow Answer

Dell uses the ________ channel of distribution.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The primary difference is the role that ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Public relations is company-in...
View Answer

Correct Answer
verified
Department stores are usually large and ...
View Answer

Correct Answer
verified

Correct Answer
verified
The promotional mix is the com...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Publicity is a promotional too...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Farrah will likely explain that a firm m...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Intensive,...
View Answer

Correct Answer
verified