final

Question 1

Elena goes to Walmart and buys some clothing, a Blu-ray disc, and all the groceries she needs for her family. What type of retailer is this particular Walmart?

Answer 1

Superstore

Question 2

Nordstrom, Macy’s, and JCPenney are all considered

Answer 2

department stores

Question 3

Off-price retailers feature

Answer 3

deep discounts, few customer services, and central checkouts.

Question 4

Which of the following is an example of a category killer?

Answer 4

Home Depot

Question 5

Zoe is planning to open an upscale dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at the time?

Answer 5

Location

Question 6

Exterior and interior characteristics such as layout, displays, color, and lighting are all elements of a store’s

Answer 6

atmospherics.

Question 7

The marketing of products to ultimate consumers through face-to-face sales presentations either at home or the workplace is called

Answer 7

direct selling.

Question 8

An arrangement in which a supplier grants a dealer the right to sell products in exchange for some type of consideration is

Answer 8

franchising.

Question 9

The coordination of promotion and other marketing efforts for maximum informational and persuasive impact defines

Answer 9

integrated marketing communications.

Question 10

In the GEICO advertisement that claims, “15 minutes can save you 15% or more,” GEICO is the communication

Answer 10

source.

Question 11

Factors such as climate, seasons, and holidays tend to lead to the promotional objective of

Answer 11

reducing sales fluctuations.

Question 12

Advertising, personal selling, sales promotion, and public relations are called

Answer 12

promotion mix ingredients

Question 13

Product placement is the strategic location of products

Answer 13

within entertainment media content.

Question 14

Pioneer advertising is most likely to be used during which of the following product life-cycle stages? (Think: Ray-Ban Meta Smartglasses)

Answer 14

Introduction

Question 15

The two major types of product advertising are

Answer 15

pioneer and competitive.

Question 16

The percentage of consumers in the target audience actually exposed to a particular advertisement in a stated period of time is the definition of

Answer 16

reach.

Question 17

The verbal portion of an advertisement, including headlines, body, and signature, is called the

Answer 17

copy.

Question 18

The identification of an advertisement’s sponsor is the

Answer 18

signature.

Question 19

Which of the following is NOT a public relations tool?

Answer 19

Product sample

Question 20

A major disadvantage of personal selling is that it

Answer 20

is very expensive per contact.

Question 21

The final stage of the selling process is

Answer 21

following up.

Question 22

The step of the personal selling process in which a salesperson contacts a potential customer is called

Answer 22

the approach.

Question 23

During the personal selling process, a salesperson, if possible, should handle objections when

Answer 23

they arise.

Question 24

______ that generates loyal long-term customers is likely to be extremely profitable in repeat sales as well as the money saved in trying to find new customers.

Answer 24

Relationship selling

Question 25

Signs, counter pieces, racks, and self-service cartons are all forms of

Answer 25

point-of-purchase displays.

Question 26

Which of the following is an example of a sales promotion technique?

Answer 26

Coupons Rebates Free samples Point-of-purchase All of the above

Question 27

What is not a benefit of a sales career with a straight commission compensation plan?

Answer 27

High degree of security

Question 28

Trading products is the oldest form of exchange, and is commonly known as

Answer 28

barter.

Question 29

When marketers emphasize price as an issue and match or beat the prices of other companies, they are using

Answer 29

price competition.

Question 30

One advantage of nonprice competition is that

Answer 30

a firm can build customer loyalty.

Question 31

For most products, a(n) ____ relationship exists between the price of a particular product and the quantity demanded.

Answer 31

inverse

Question 32

The owner of Big Jim’s Motorcycles is opening a new retail location. Which of the following is most likely to be a fixed cost for Big Jim’s Motorcycles?

Answer 32

Building rent

Question 33

At what point does a firm maximize profit?

Answer 33

The point at which marginal cost equals marginal revenue

Question 34

For most consumers, there is an assumed relationship between

Answer 34

price and quality.

Question 35

Sara buys a new dress at Marshalls that has a price tag with "Compare at $150.00. Our Price $89.99." This is an example of the use of

Answer 35

an external reference price.

Question 36

Buyers who focus on purchasing products that signify prominence and status are

Answer 36

prestige-sensitive buyers.

Question 37

When establishing prices, a marketer's first step is to

Answer 37

develop pricing objectives.

Question 38

Which of the following pricing objectives sets prices to recover cash as quickly as possible?

Answer 38

Cash flow

Question 39

The three primary bases for developing prices are

Answer 39

demand, competition, and cost.

Question 40

During the hot, humid months of July and August, Pinewood Links Golf Course, located in Georgia, offers weekday rates of $13 for a round of golf with a cart. During the rest of the year, the weekday rates are between $25 and $35. This is an example of the use of

Answer 40

demand-based pricing.

Question 41

If Bubly sets its twelve-pack price to match the price charged by LaCroix, Bubly is using which of the following pricing methods?

Answer 41

Competition-based

Question 42

The "White Sale" that many department stores have every year a few weeks after Christmas is an example of

Answer 42

periodic discounting.

Question 43

If Kashi wants to gain a large market share quickly with its new line of reduced-fat snack crackers, it should use

Answer 43

penetration pricing.

Question 44

Odd-even pricing is

Answer 44

a psychological pricing strategy.

Question 45

To attract customers into a store, Kroger advertises its milk at less than cost, hoping that customers will purchase other groceries as well. This pricing strategy is called

Answer 45

price leader pricing.

Question 46

If a business decides to reduce its prices once in a while on an unsystematic basis, it is using

Answer 46

random discounting