Reference no: EM133960382

Questions

1. Matt works as bringing manufacturers and wholersalers together for negotations but he does not take title to the goods. In this case Matt is a _________________

a. retailer

b. producer

c. consumer

d. broker

2. Dell computers sells to end-users. They use no other intermediary. What kind of channel do they use?

a. a limited distribution system

b. a vertical marketing system

c. a reciprocal channel

d. a direct channel

3. Toyota markets several different products under the same brand name for example Toyotal Corolla and Toyota Highlander. This type of branding is called_________________

a. Cobranding

b. Family branding

c. Individual branding

d. Co-operative branding

4. Wrigley's chewing gum aims to achieve maximum market coverage. It wants its products to be available in every outlet where potential customers might want to buy them?

a. selective franchising

b. channel franchising

c. intensive distribution

d. exclusive distribution

5. When Apple introduced the iPhone 5c, it was at a relatively low price designed to capture a large share of the Chinese market. What type of pricing strategy was Apple pursuing?

a. penetration pricing

b. price-insensitive demand

c. price skimming

d. cost bundling

6. Which of the following coordinates and integrates all of the activities performed by channel members into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value?

a. channel power

b. materials handling

c. supply chain management

d. physical distribution

7. Walmart carries groceries, electronics, and toys among other products. How else could these individual categories be described?

a. product lines

b. product length

c. product mix

d. product consistency

8. What are the three basic functions performed by channel intermediaries?

a. transactional, logistical, and facilitating

b. contacting, negotiating, and ownership

c. promoting, distributing, and bulk breaking

d. assorting, accumulating, and allocating

9. A 16-ounce bottle of Prairie Herb vinegar sells for $4.95, and a 16-ounce bottle of Heinz vinegar costs $1.05. Prairie Herb vinegar is new to the market, is perceived to be of higher quality, and provides a unique flavour to foods even though it is used in the same way as Heinz vinegar. Which type of policy is Prairie Herb vinegar most likely using?

a. penetration pricing

b. status quo pricing

c. price skimming

d. bundling cost pricing

10. What is the starting point in creating a marketing mix?

a. price

b. product

c. distribution channel

d. promotional media

11. Brand names such as Kleenex, UPS, Sony, Chevrolet, and Kellogg's are likely to have more brand equity than brand names like Viking, Zojirushi, Shimano, and Thule.

True

False

12. Which of the following is an example of a product modification?

a. lowering the price of textbooks

b. dropping a product from the product line

c. changing the colour of a laundry detergent

d. changing the amount of management time spent overseeing production

13. Oliver used to sell office furniture and supplies, but he now has semi-retired and started a cleaning service specializing in cleaning fire- and water-damaged structures. Why does selling cleaning services differ greatly from selling office furniture and supplies?

a. Cleaning services are homogeneous.

b. Cleaning services are unknowable.

c. Cleaning services are intangible.

d. Cleaning services are synergistic

14. Which of the following tries to get customers into the store with misleading advertising and then uses high-pressure selling to persuade the consumer to buy something else more expensive?

a. functional pricing

b. bait pricing

c. production-oriented pricing

d. decoy pricing

15. Luxury home furniture manufacturer Home-Living, is in the process of looking for a distribution channel for its new line of high-end sofas. Home Living is most concerned about protecting its prestige image and controlling the message communicated by salespeople. These factors affecting the choice of channel would fall under which of the following?

a. producer factors

b. customer factors

c. product factors

d. market factors

16. Best Buy sells their televisions at or just above cost in the hope that when customers come to purchase televisions, they shall also purchase other peripheral items such as cables. What would these televisions also be known as?

a. product bundles

b. loss leaders

c. price liners

d. price penetrators

17. The marketing manager of icruise.com (a website targeted to consumers who want a luxury vacation) finds that the firm can gain market share and become the industry leader if it cuts prices by 50 percent during December. However, the vice-president of finance is committed to reporting a 25 percent return on investment at all times. What does this conflict illustrate?

a. a need to eliminate low-profit products

b. how pricing operates in a mature marketplace

c. the need for trade-offs in pricing objectives

d. how target markets can be ignored

18. What is the term for a business structure of interdependent organizations that reaches from the point of product origin to the consumer?

a. a marketing mix channel

b. a selective distribution channel

c. a marketing channel or channel of distribution

d. a transportation channel or channel of movement

19. Cadbury Dairy Milk chocolate can be purchased regularly with little shopping effort, usually with little planning, and it requires wide distribution. What would this chocolate bar be described as?

a. as a convenience product

b. as a specialty product

c. as a shopping product

d. as an unsought product

20. The first step in setting the right price for a new product is to estimate demand, costs, and profits.

True

False