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Exam 21: Managing the Marketing Mix: Product, Price, Place and Promotion

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Question 171

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A firm's promotion mix consists of its pricing and distribution strategies.

A) True
B) False

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Question 172

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__________ is the process used to determine the profitability of a product at various levels of sales.

A) Cost-based pricing
B) Break-even analysis
C) Demand-based pricing
D) Competition-based pricing

E) B) and C)
F) C) and D)

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Question 173

Multiple Choice

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A(n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.

Which of the following statements is the most accurate assessment of the role packaging plays in product offerings?

Anita enjoys her job as a salesperson for a store that sells high-quality entertainment systems. As an effective salesperson, Anita is expected to help her customers resolve any doubts they might have before the sale, and follow up to ensure that the customer is satisfied after the sale.

The Spotlight on Small Business box showed us through the example of Randy Hetrick's TRX Suspension Trainer that in order to remain successful, sometimes expanding the product mix is essential.

One drawback of kiosks is that their high overhead costs result in low profit margins.

According to the Adapting to Change box, companies can always control what is said about them online.

Fast-food organizations must constantly monitor all sources of information for new-product ideas.

Pricing is:

Operating in the southwestern 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:

The strategy of first determining what the market is willing to pay, then subtracting a desired profit margin to determine a desired cost of production is called:

Marcia Baker ships orchids and other perishable flowers from her greenhouses near San Francisco to florists thousands of miles away in cities such as New York, Boston, and Philadelphia. Since the flowers must reach the florists as quickly as possible, the best mode of transportation for Marcia to use would be:

Sportstors, Inc., operates a chain of very large 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 can be classified as:

Break-even analysis determines profitability of a firm at various levels of sales.

Algonquin Books partnered with Barnes & Noble to offer a unique _________. If you purchase one of 12 paperback books published by Algonquin, you can choose one of 12 e-Books for $3 (a much lower price than a regular e-Book) . The goal is to increase traffic in bookstores.

LoRider Wheels sells high-quality bicycles and accessories. The store is known for a pleasant environment, friendly salespeople and an excellent service department. All of these elements are part of the ___________ offered by LoRider.

Marketers claim that intermediaries add value to the channel of distribution that outweighs the cost.

Lenora just finished writing a news release regarding a new product developed by her firm. She intends to e-mail the message to local radio stations and newspapers in hope that they will find the information newsworthy and run a story about the product. Lenora's efforts represent the firm's:

The primary purpose of a pull strategy is to: