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MKT 200 Unit 6 Quiz 3 Latest-POST
MKT 200 Unit 6 Quiz 3 Latest-POST
Costs that do not change with production or sales levels is best described as:
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:
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.
If demand changes greatly with a small change in product price, the demand is inelastic.
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.
producer > consumer
producer > manufacturer s rep > retailer > customer
producer > sales branch > business distributor > customer
producer > wholesaler > retailer > consumer
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
horizontal marketing system
Stocking a product in as many outlets as possible is the goal of:
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
supply chain management
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
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.
Like a retailer, a wholesaler must decide on segmentation and targeting, differentiation and positioning,
and the marketing mix.
A wholesaler who sends delivery trucks to grocery or pharmacy retailers, sets up displays, price the
goods, and maintain inventories is called a:
producer s cooperative
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.
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
Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified
sponsor is called:
By far, the fastest growing ad-spending category is:
television and radio
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
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.
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
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.
You work for a small business and are deciding between personal selling and sales promotions. What is
your best strategy for combining these options?
sales force promotions