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

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Question 141

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Small firms often rely on non-price competition when competing against larger firms.

A) True
B) False

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Question 142

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Successful firms coordinate pricing objectives and strategies with decisions regarding product design,packaging,branding,distribution,and promotion.

A) True
B) False

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Question 143

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Brand managers are responsible for the marketing of a product after it has been developed and a clear promotional message identified.

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

Either reducing fixed or variable costs will reduce the break-even point.

Creating a blog is a great way to interact with customers.

One way firms can gain a competitive advantage without relying on low prices is by developing close,friendly relationships with their customers.

Target costing is a cost-based pricing strategy.

Sav-U-More Grocery Store sells a wide range of foods and household supplies to households in Miller's Creek,a suburb of a large city.The store advertises that its prices are much lower than the prices charged by larger supermarket chains in the area.This low price approach means that Sav-U-More is a classic example of a merchant wholesaler.

Budd's Floral Shoppe is located in a large town that has several other florists.The owner,Rose Budd,is likely to find that the presence of many larger competitors means that the only way she can survive is to charge rock bottom prices.

All of the following are benefits of a brand name for a buyer except :

Many products are promoted by emphasizing their benefits,rather than setting the price lower than that of competitive goods.This emphasis on the product's benefits illustrates a(n) ______strategy.

For small businesses,product differentiation:

SneezeNoMore markets a group of similar products for people suffering from the common cold.The products in this line are sold under the brand name SneezeNoMore.The products differ mainly in the strength of the dosage and in whether they also contain additional medications to help the consumer sleep.As an employee of SneezeNoMore,Jill is responsible for the marketing mix for the company's products.She is also involved in any major decisions concerning the development of new products that will be included in this product line.Jill serves as a:

Competition-based pricing is a strategy based on what all the other competitors are doing.

The combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a:

Pattie operates the Zestee Burgers restaurant.The cost of pickles,onions,buns,ketchup,and meat patties would all be considered variable costs for her type of business.

Sampling represents a quick and effective way to demonstrate a product's superiority at the time when consumers are making a purchase decision.

Mall owners tend to like kiosks because they create a marketplace atmosphere.

Operating in the south-western states,Lancer Airlines hopes to avoid entering the price war that currently is taking place between several airlines on the east coast.The best strategy to avoid severe price competition is to: