Unit 6 quiz 3
Question 1 Costs that do not change with production or sales
levels is best described as:
fixed costs
variable costs
cost-based pricing
competition-based pricing
Question 2 You want your customers to pay the existing
price, or even a higher price, for the premium features and services you
provide. This is an example of:
good-value pricing
cost-based pricing
competition-based pricing
value-added pricing
Question 3 Total revenue equals total cost at:
the markup price.
the break-even point.
the target return point.
the point where total costs and variable costs are equal.
Question 4 If demand changes greatly with a small change in
product price, the demand is inelastic.
True
False
Question 5 Which of the following statements about pricing
strategies is false?
Value-based pricing is the reverse of cost-based pricing.
Cost-based pricing relies on consumer perception of value to
drive pricing.
Pricing a product mix is often difficult because various
products have related demand and costs, and they face different degrees of
competition.
Major price-adjustment strategies include discount and
allowance, segmented, reference, psychological, promotional, geographical,
dynamic, and international pricing.
Question 6 Which marketing channel is most likely to serve
the business customer?
producer > consumer
producer > manufacturer s rep > retailer > customer
producer > sales
branch > business distributor > customer
producer > wholesaler > retailer > consumer
Question 7 A channel arrangement in which two or more
companies at one level join together to follow a new marketing opportunity is
called a:
vertical marketing system
administered VMS
franchise organization
horizontal marketing
system
Question 8 Stocking a product in as many outlets as possible
is the goal of:
exclusive distribution
intensive
distribution
selective distribution
intermediary distribution
Question 9 The concept that emphasizes teamwork (inside the
company and among all channel members) to maximize the performance of the
entire distribution system is called:
integrated logistics
management
mass marketing
supply chain management
multimodal transportation
Question 10 Which one of the following statements about
retailers is false?
Retailers can be classified in terms of several
characteristics, including the amount of service they offer, breadth and depth
of their product lines, relative prices they charge, and how they are organized.
Department stores carry narrow product lines with deep
assortments within those lines.
In a retailer cooperative, independent retailers contract
with each other to set up a central buying operation and conduct joint
promotional efforts.
Retailers first must segment and define their target markets
and then decide how they will position themselves in these markets.
Question 11 Like a retailer, a wholesaler must decide on
segmentation and targeting, differentiation and positioning, and the marketing
mix.
True
False
Question 12 A wholesaler who sends delivery trucks to
grocery or pharmacy retailers, sets up displays, price the goods, and maintain
inventories is called a:
cash-and-carry wholesaler
drop shipper
rack jobber
producer s cooperative
Question 13 An advertising objective is a specific
communication task to be accomplished with a specific target audience during a
specific period of time. Advertising objectives can be classified by primary
purpose:
to inform, persuade, or remind.
to influence, educate, or amuse.
to compare, contrast, and communicate.
to inform, educate, and compare.
Question 14 Which of the following statements about
promotional strategies is false?
A company’s marketing communications mix is also called its
promotion mix.
If the pull strategy is effective, consumers will demand the
product from channel members, who will in turn demand it from producers.
Integrated marketing communications encourages brand messages
to be developed by different departments within an organization.
Developments in communications technology are speeding the
movement toward segmented marketing.
Question 15 Any paid form of non-personal presentation and
promotion of ideas, goods, or services by an identified sponsor is called:
publicity
personal selling
public relations
advertising
promotion mix
Question 16 By far, the fastest growing ad-spending category
is:
personal selling
digital marketing
television and radio
sales promotion
Question 17 Which one of the following statements about
promotion strategies is false?
A specific communication task to be accomplished with a
specific target audience during a specific period of time is called an
advertising objective.
A marketer needs to know the reach, frequency, and impact
needed to achieve an advertising objective.
When developing an advertising strategy, your company’s
creative department should first create good ads, and then the media department
should select the best media for those ads.
The objective-and-task method of setting a promotion budget
is the most logical method because it forces management to articulate its
assumptions about the relationship between dollars spent and promotion results.
Question 18 Carefully
coordinating the company’s many communication channels to deliver a clear,
consistent, and compelling message about the organization and its brands is
called:
integrated marketing communications
mass marketing techniques
downstream marketing communications
push promotional strategy
Question 19 Which of the following statements about personal
selling is true?
Today, most salespeople are well-educated, well-trained
professionals working to build and maintain long-term customer relationships by
listening to their customers, assessing their needs, and organizing the
company’s efforts to solve customer problems.
Designing sales force strategy and structure is a minor
element of sales force management, and as such is an aspect that most companies
should not spend much time considering.
When sales are high, there should be a de-emphasis on
prospecting as it is a time-waster.
Sales force automation systems have been developed for
improving how salespeople feel about their opportunities and value.
Question 20 You work for a small business and are deciding
between personal selling and sales promotions. What is your best strategy for
combining these options?
business promotions
trade promotions
sales force
promotions
event marketing.
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