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

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Question 71

True/False

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Warehouse clubs compete with enhanced service to customers and seldom try to compete on price.

A) True
B) False

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Question 72

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Effective selling involves helping others to satisfy their wants and needs.

A) True
B) False

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Question 73

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Whole grain breads, bagels, bread sticks, sandwiches, soup, and pastries are products that would be included in the product mix of El Trovodor's Bread Company.

Charging high prices to earn large profits during a time when there is little competition represents a ________ strategy:

When advertising in global markets it is important to remember that brand names and promotional campaigns can often be translated into a local language differently from what the marketer has attempted to say.

In the past, ___________________ was an important advertising strategy used in movies. Now it is also used with video games. It can be easily altered to reflect another advertiser, depending upon which advertiser has purchased ad time.

Sometimes a firm will lower prices below their costs in order to build a customer base.

Some websites are trying to improve their service by providing assistance from a real person.

A __________ offers a huge selection of one type of product (such as books, toys, or sporting goods) to dominate that category of goods.

"I Can't Believe That It's Medicine" is an advertising slogan for a new antacid. The manufacturer claims that their antacid works faster and tastes better than any competing brand. These claims are part of the firm's strategy to achieve:

Barker Brothers Pens utilizes a strategy of low-priced pens to attract customers and discourage competition. This represents a _______ strategy.

The Reaching Beyond Our Borders box titled "Playing the Name Game" explains:

The major complaint with advertising is that it provides no real benefits to the public.

In evaluating the best advertising medium to reach a specific target market the clear choice is:

An effective channel of distribution does more than simply ensure that goods are transported efficiently from producer to buyer.

Traditional retailers that have begun using the Internet to supplement their physical stores are finding that it not only provides a new way to sell goods, it also requires a new system to distribute goods.

As a manager at Excitement Foods, Mark is responsible for the firm's Kool'nKreamy brand of ice cream. Recently, he approved a proposal to test market new ice cream flavors. He is also considering the possibility of lowering the price of the ice cream and initiating a new advertising campaign. Mark appears to be a:

The evidence supports the position that promotional efforts specifically designed for individual countries produce:

Direct marketing involves having a salesperson visit the customer's home or place of business.

To satisfy consumers managers must learn to listen better than they do now and to adapt constantly to changing market demands.