Question 1

Patrick Bolger is convinced that his product idea has tremendous potential.He has decided to produce the product himself,but plans to use other firms who specialize in storing and transporting the product to help him move the product along its path to the final consumer.These specialists Patrick uses will be part of his product's:

Accepted Answer

A)  wheel of retailing.
B)  market network.
C)  channel of distribution.
D)  franchise system.E) All of the above
F) B) and D)

Question 2

Fancy Feet sells high quality socks and stockings by sending catalogues to customers and offering them a toll-free telephone number so that they can call in their orders 24 hours a day any day of the year.Fancy Feet uses telemarketing.

Accepted Answer

A) True 
 B)False

Question 3

Phil's activities as a salesperson for Marquette Publishing are part of Marquette's promotional mix.

Accepted Answer

A) True 
 B)False

Question 4

Unlike other promotional tools,publicity is free.

Accepted Answer

A) True 
 B)False

Question 5

Sportstors,Inc.operates a chain of stores that offer an incredible selection of sporting goods at very competitive prices.When Sportstors opens its first store in a geographic area,smaller sporting goods stores almost always experience a noticeable drop in sales.Sportstors stores are:

Accepted Answer

A)  warehouse clubs.
B)  department stores.
C)  category killers.
D)  full-service wholesalers.E) B) and C)
F) A) and D)

Question 6

The formula for break-even analysis includes all of the following components except:

Accepted Answer

A)  total sales revenue.
B)  total fixed costs.
C)  forecasted cash requirements.
D)  variable cost per unit of output.E) A) and B)
F) None of the above

Question 7

Which of the following assessments of electronic retailing is most accurate?

Accepted Answer

A)  Electronic retailing has two major advantages over traditional businesses: simplicity and very low start-up costs.
B)  One of the reasons electronic retailing firms have been so successful has been their ability to deal with customer complaints and provide personalized services more efficiently than traditional firms.
C)  Traditional retailers seldom find much success when they attempt to incorporate online selling into their businesses.
D)  The line between electronic retailing and traditional retailing is blurring as traditional retailers go online.E) B) and C)
F) A) and D)

Question 8

Shuichi owns and operates his own sushi bar.His fixed costs would include rent,insurance,and property taxes.

Accepted Answer

A) True 
 B)False

Question 9

The product life cycle has five stages.

Accepted Answer

A) True 
 B)False

Question 10

Discount stores compete mainly on the basis of price.

Accepted Answer

A) True 
 B)False

Question 11

The term product line describes the combination of product mixes offered by a manufacturer.

Accepted Answer

A) True 
 B)False

Question 12

A firm's product line refers to all of the different markets in which it sells the same good or service.

Accepted Answer

A) True 
 B)False

Question 13

The last stage in the product life cycle is known as what?

Accepted Answer

A)  Introduction
B)  Maturity
C)  Growth
D)  DeclineE) B) and D)
F) A) and B)

Question 14

The primary difference between retailers and wholesalers is that:

Accepted Answer

A)  retailers sell consumer goods,while wholesalers sell industrial goods.
B)  retailers operate in local areas,while wholesalers operate over a wide geographic area.
C)  retailers sell to final consumers,while wholesalers sell to other organizations,such as retailers or manufacturers.
D)  retailers have sales of less than $1 million,while wholesalers have sales of $1 million or more.E) B) and C)
F) None of the above C

Question 15

Admiral Motors is the dominant firm in the auto market.When Admiral announces an increase in the prices of its automobiles,the smaller firms in the market,usually quickly announce similar price increases for their own cars.This situation is an example of demand-oriented pricing.

Accepted Answer

A) True 
 B)False

Question 16

The best product development strategy for most firms is to:

Accepted Answer

A)  develop a small number of products that achieve market success and stick with them,because constantly changing old products (or introducing new ones) can confuse and frustrate customers.
B)  maintain one product line while adding regularly to that product line over time to sustain customer interest.
C)  constantly monitor consumer wants and needs and be willing to develop new products and adapt policies and services as those needs begin to change.
D)  focus on the actual product or service and don't worry too much about factors such as image,price,and service.E) A) and B)
F) None of the above C

Question 17

Which of the following strategies establishes a price based on the actions of rival firms?

Accepted Answer

A)  Competition-based pricing
B)  Cost-based pricing
C)  Demand collection system
D)  BundlingE) None of the above
F) B) and C)

Question 18

The activity that evaluates public attitudes and implements a program to earn public understanding and acceptance is called:

Accepted Answer

A)  marketing research.
B)  public relations.
C)  marketing communication system.
D)  advertising.E) None of the above
F) All of the above

Question 19

Borden,Inc.offers pasta,dairy items,and adhesives.These different types of products are referred to as Borden's:

Accepted Answer

A)  product line.
B)  product mix.
C)  product differentiation.
D)  product life cycle.E) C) and D)
F) A) and C) B

Question 20

Phil asks you to calculate the break-even point for his firm.You respond that you will need the following information:

Accepted Answer

A)  the values for all assets and liabilities.
B)  total fixed costs,selling price,and variable costs per unit.
C)  forecasted sales volume,operating expenses,and asset values.
D)  sales revenue and total liabilities.E) A) and B)
F) All of the above

Exam 15: Managing the Marketing Mix: Product, Price, Place, and Promotion

Correct Answer
verified

Fancy Feet sells high quality socks and stockings by sending catalogues to customers and offering them a toll-free telephone number so that they can call in their orders 24 hours a day any day of the year.Fancy Feet uses telemarketing.

Correct Answer
verified

Phil's activities as a salesperson for Marquette Publishing are part of Marquette's promotional mix.

Correct Answer
verified

Unlike other promotional tools,publicity is free.

Correct Answer
verified

Sportstors,Inc.operates a chain of stores that offer an incredible selection of sporting goods at very competitive prices.When Sportstors opens its first store in a geographic area,smaller sporting goods stores almost always experience a noticeable drop in sales.Sportstors stores are:

Correct Answer
verified

The formula for break-even analysis includes all of the following components except:

Correct Answer
verified

Which of the following assessments of electronic retailing is most accurate?

Correct Answer
verified

Shuichi owns and operates his own sushi bar.His fixed costs would include rent,insurance,and property taxes.

Correct Answer
verified

The product life cycle has five stages.

Correct Answer
verified

Discount stores compete mainly on the basis of price.

Correct Answer
verified

The term product line describes the combination of product mixes offered by a manufacturer.

Correct Answer
verified

A firm's product line refers to all of the different markets in which it sells the same good or service.

Correct Answer
verified

The last stage in the product life cycle is known as what?

Correct Answer
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The primary difference between retailers and wholesalers is that:

Correct Answer
verified
C

Admiral Motors is the dominant firm in the auto market.When Admiral announces an increase in the prices of its automobiles,the smaller firms in the market,usually quickly announce similar price increases for their own cars.This situation is an example of demand-oriented pricing.

Correct Answer
verified

The best product development strategy for most firms is to:

Correct Answer
verified
C

Which of the following strategies establishes a price based on the actions of rival firms?

Correct Answer
verified

The activity that evaluates public attitudes and implements a program to earn public understanding and acceptance is called:

Correct Answer
verified

Borden,Inc.offers pasta,dairy items,and adhesives.These different types of products are referred to as Borden's:

Correct Answer
verified
B

Phil asks you to calculate the break-even point for his firm.You respond that you will need the following information:

Correct Answer
verified

Exam 15: Managing the Marketing Mix: Product, Price, Place, and Promotion

Correct AnswerverifiedShow Answer

Fancy Feet sells high quality socks and stockings by sending catalogues to customers and offering them a toll-free telephone number so that they can call in their orders 24 hours a day any day of the year.Fancy Feet uses telemarketing.

Correct AnswerverifiedShow Answer

Phil's activities as a salesperson for Marquette Publishing are part of Marquette's promotional mix.

Correct AnswerverifiedShow Answer

Unlike other promotional tools,publicity is free.

Correct AnswerverifiedShow Answer

Sportstors,Inc.operates a chain of stores that offer an incredible selection of sporting goods at very competitive prices.When Sportstors opens its first store in a geographic area,smaller sporting goods stores almost always experience a noticeable drop in sales.Sportstors stores are:

Correct AnswerverifiedShow Answer

The formula for break-even analysis includes all of the following components except:

Correct AnswerverifiedShow Answer

Which of the following assessments of electronic retailing is most accurate?

Correct AnswerverifiedShow Answer

Shuichi owns and operates his own sushi bar.His fixed costs would include rent,insurance,and property taxes.

Correct AnswerverifiedShow Answer

The product life cycle has five stages.

Correct AnswerverifiedShow Answer

Discount stores compete mainly on the basis of price.

Correct AnswerverifiedShow Answer

The term product line describes the combination of product mixes offered by a manufacturer.

Correct AnswerverifiedShow Answer

A firm's product line refers to all of the different markets in which it sells the same good or service.

Correct AnswerverifiedShow Answer

The last stage in the product life cycle is known as what?

Correct AnswerverifiedShow Answer

The primary difference between retailers and wholesalers is that:

Correct AnswerverifiedC

Admiral Motors is the dominant firm in the auto market.When Admiral announces an increase in the prices of its automobiles,the smaller firms in the market,usually quickly announce similar price increases for their own cars.This situation is an example of demand-oriented pricing.

Correct AnswerverifiedShow Answer

The best product development strategy for most firms is to:

Correct AnswerverifiedC

Which of the following strategies establishes a price based on the actions of rival firms?

Correct AnswerverifiedShow Answer

The activity that evaluates public attitudes and implements a program to earn public understanding and acceptance is called:

Correct AnswerverifiedShow Answer

Borden,Inc.offers pasta,dairy items,and adhesives.These different types of products are referred to as Borden's:

Correct AnswerverifiedB

Phil asks you to calculate the break-even point for his firm.You respond that you will need the following information:

Correct AnswerverifiedShow Answer

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C

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C

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B

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