Question 1

Why are firms so obsessed with the pricing element of the marketing mix?

Accepted Answer

A)   Because pricing is the most difficult element of the marketing mix to change.
B)   Because it is considered to be one of the few ways to differentiate a product in commoditized and mature markets.
C)   Because pricing is the only marketing element that matters to customers.
D)   Because pricing is the best part of the marketing mix in which to make an educated guess about the most appropriate strategy.
E)   Because pricing is directly responsible for demand.

Question 2

__________ is defined as a customer's subjective evaluation of benefits relative to costs to determine the worth of a firm's product offering relative to other product offerings.

Accepted Answer

A)   Quality
B)   Value
C)   Price
D)   Breakeven cost
E)   Opportunity cost

Question 3

Which sales force compensation system is best suited to situations where salespeople are responsible for pre- and post-sale service and sales managers want maximum control over selling expenses?

Accepted Answer

A)   straight commission
B)   a combination approach
C)   direct compensation
D)   geographic allocation
E)   straight salary

Question 4

Discuss the four types of consumer products and explain how marketing strategy changes across these product types. Be sure to use examples.

Accepted Answer

The four types of consumer products are:...

Question 5

__________ refers to the strategic combination of the four basic marketing mix elements.

Accepted Answer

A)   The marketing plan
B)   The marketing program
C)   Strategic control
D)   The strategic mix
E)   Implementation

Question 6

What is the most appropriate type of distribution to use when customers need the opportunity to comparison shop, or when after-sale services are important?

Accepted Answer

A)   exclusive distribution
B)   service-based distribution
C)   intensive distribution
D)   comparative distribution
E)   selective distribution

Question 7

A price reduction offered to channel intermediaries for purchasing specified quantities of a product at a single time is called a:

Accepted Answer

A)   merchandise credit.
B)   buying allowance.
C)   selling incentive.
D)   push money allowance.
E)   cooperative incentive.

Question 8

A buying allowance is a type of consumer sales promotion.​

Accepted Answer

A) True 
 B)False

Question 9

Most firms today compete in mature markets characterized by commoditization. In these cases, the __________ typically becomes incapable of differentiating the product offering from those of the competition.

Accepted Answer

A)   extended product
B)   core product
C)   supplemental products
D)   experiential products
E)   tangible products

Question 10

Today, though cutting expenses is still a main factor, the desire of many firms to focus on core competencies is a driving force behind the increase in:

Accepted Answer

A)   category management.
B)   channel integration.
C)   referent power.
D)   product differentiation.
E)   outsourcing.

Question 11

Firestone carefully watches the automotive market to ascertain the demand for cars, SUVs, and trucks. Firestone does this because the demand for its products is dependent on the demand for automobiles. This situation describes __________.

Accepted Answer

A)   synergistic demand
B)   shopping demand
C)   derived demand
D)   product line demand
E)   price elasticity

Question 12

Why is the demand for most services-such as popular restaurants-extremely time-and-place dependent?

Accepted Answer

A)   Because popular services typically lack sufficient capacity.
B)   Because services cannot be stored for future use.
C)   Because customers must be present for service to be delivered.
D)   Because service customers are typically unsure of their needs.
E)   Because competing services force customers to make tradeoffs between quality and time.

Question 13

The inherent goal of product differentiation is to make the demand curve for a product more inelastic. This happens because increased differentiation:

Accepted Answer

A)   reduces the number of perceived substitutes for a product.
B)   makes the product more expensive than its competitors.
C)   increases the quality of the product, making it worth the expense.
D)   reduces the time and effort required to obtain the product.
E)   increases the just noticeable differences among competing products.

Question 14

Compare and contrast the traditional use of power in a marketing channel versus today's notion of integrated and collaborative supply chains. Do the five traditional power bases still play a role in today's era of collaboration? Explain.

Accepted Answer

Power can be defined as the influence th...

Question 15

Explain why distribution and supply chain management are critical to achieving a sustainable competitive advantage and true differentiation in the marketplace.

Accepted Answer

Distribution and supply chain relationsh...

Question 16

__________ is paid personal communication that attempts to inform customers about products and persuade them to purchase those products.

Accepted Answer

A)   Personal selling
B)   Sales promotion
C)   Publicity
D)   Public relations
E)   Advertising

Question 17

In terms of marketing channel functions, which of the following statements describes the concept of discrepancy of quantity?

Accepted Answer

A)   Manufacturers make one or a few product(s) -customers need variety and assortment.
B)   Channels must make products available in convenient locations.
C)   Channels add value to products by standardizing the exchange process.
D)   Channels must provide for the storage of products for future purchase and use.
E)   Manufacturers produce large quantities; customers usually want only one item.

Question 18

When firms use a(n)  __________ strategy, they focus their promotional efforts toward stimulating demand among final customers, who then exert pressure on the supply chain to carry the product.

Accepted Answer

A)   pressurization
B)   IMC
C)   pull
D)   guerilla
E)   push

Question 19

In the context of IMC strategy, what is the difference between public relations and publicity?

Accepted Answer

A)   Public relations deals with positive information; publicity deals with controlling negative information.
B)   Publicity deals with many stakeholders; public relations deals only with customers.
C)   Publicity is normally done via an in-house staff; public relations is typically outsourced to a specialist.
D)   Publicity is more narrowly defined and focused on gaining media attention.
E)   There is no difference between public relations and publicity.

Question 20

A car repair shop provides which of the following types of products?

Accepted Answer

A)   ​Convenience products
B)   ​Specialty products
C)   ​Shopping products
D)   Raw materials
E)   ​Unsought products

Exam 6: The Marketing Program

__________ is defined as a customer's subjective evaluation of benefits relative to costs to determine the worth of a firm's product offering relative to other product offerings.

Correct AnswerverifiedShow Answer

A price reduction offered to channel intermediaries for purchasing specified quantities of a product at a single time is called a:

Correct AnswerverifiedShow Answer

Today, though cutting expenses is still a main factor, the desire of many firms to focus on core competencies is a driving force behind the increase in:

Correct AnswerverifiedShow Answer

In the context of IMC strategy, what is the difference between public relations and publicity?

Correct AnswerverifiedShow Answer

Firestone carefully watches the automotive market to ascertain the demand for cars, SUVs, and trucks. Firestone does this because the demand for its products is dependent on the demand for automobiles. This situation describes __________.

Correct AnswerverifiedShow Answer

When firms use a(n) __________ strategy, they focus their promotional efforts toward stimulating demand among final customers, who then exert pressure on the supply chain to carry the product.

Correct AnswerverifiedShow Answer

A buying allowance is a type of consumer sales promotion.​

Correct AnswerverifiedShow Answer

Explain why distribution and supply chain management are critical to achieving a sustainable competitive advantage and true differentiation in the marketplace.

Correct AnswerverifiedDistribution and supply chain relationsh...View AnswerShow Answer

In terms of marketing channel functions, which of the following statements describes the concept of discrepancy of quantity?

Correct AnswerverifiedShow Answer

__________ is paid personal communication that attempts to inform customers about products and persuade them to purchase those products.

Correct AnswerverifiedShow Answer

Compare and contrast the traditional use of power in a marketing channel versus today's notion of integrated and collaborative supply chains. Do the five traditional power bases still play a role in today's era of collaboration? Explain.

Correct AnswerverifiedPower can be defined as the influence th...View AnswerShow Answer

Which sales force compensation system is best suited to situations where salespeople are responsible for pre- and post-sale service and sales managers want maximum control over selling expenses?

Correct AnswerverifiedShow Answer

A car repair shop provides which of the following types of products?

Correct AnswerverifiedShow Answer

Why are firms so obsessed with the pricing element of the marketing mix?

Correct AnswerverifiedShow Answer

What is the most appropriate type of distribution to use when customers need the opportunity to comparison shop, or when after-sale services are important?

Correct AnswerverifiedShow Answer

The inherent goal of product differentiation is to make the demand curve for a product more inelastic. This happens because increased differentiation:

Correct AnswerverifiedShow Answer

__________ refers to the strategic combination of the four basic marketing mix elements.

Correct AnswerverifiedShow Answer

Why is the demand for most services-such as popular restaurants-extremely time-and-place dependent?

Correct AnswerverifiedShow Answer

Discuss the four types of consumer products and explain how marketing strategy changes across these product types. Be sure to use examples.

Correct AnswerverifiedThe four types of consumer products are:...View AnswerShow Answer

Most firms today compete in mature markets characterized by commoditization. In these cases, the __________ typically becomes incapable of differentiating the product offering from those of the competition.

Correct AnswerverifiedShow Answer

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A buying allowance is a type of consumer sales promotion.

Correct Answer
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Distribution and supply chain relationsh...
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Correct Answer
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Correct Answer
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Correct Answer
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Power can be defined as the influence th...
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Correct Answer
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The four types of consumer products are:...
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Correct Answer
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