Ch. 14- Vocab.

Question 1

Free-market price that unrelated parties charge one another for a specific product.

Answer 1

Arm’s length price

Question 2

Name of one or more items in a product line that identifies the source or character of the items

Answer 2

Brand name

Question 3

Planning, implementing, and controlling the physical flow of a product from its point of origin to its point of consumption

Answer 3

Distribution

Question 4

Policy in which a product has a different selling price (typically higher) in export markets than it has in the home market

Answer 4

Dual Pricing

Question 5

Distribution channel in which a manufacturer grants the right to sell its product to only one or a limited number of resellers

Answer 5

Exclusive Channel

Question 6

Distribution channel in which a producer grants the right to sell its product to many resellers

Answer 6

Intensive Channel

Question 7

Process of sending promotional messages about products to target markets

Answer 7

Marketing communications

Question 8

Upper or lower limits placed on the prices of products sold within a country

Answer 8

Price controls

Question 9

Efforts by a company to reach distribution channels and to target customers through communications, such as personal selling, advertising, public relations, and direct marketing

Answer 9

Promotion mix

Question 10

Promotional strategy designed to create buyer demand that will encourage distribution channel members to stock a company’s product

Answer 10

Pull strategy

Question 11

Promotional strategy designed to pressure distribution channel members to carry a product and to promote it to final users of the product

Answer 11

Push strategy

Question 12

Price charged for a good or service transferred among a company and its subsidiaries

Answer 12

Transfer price

Question 13

Value of a product relative to its weight and volume

Answer 13

Value density

Question 14

Policy in which one selling price is established for all international markets

Answer 14

Worldwide pricing