final Flashcards
study
Elena goes to Walmart and buys some clothing, a Blu-ray disc, and all the groceries she needs for her family. What type of retailer is this particular Walmart?
Superstore
Nordstrom, Macy’s, and JCPenney are all considered
department stores
Off-price retailers feature
deep discounts, few customer services, and central checkouts.
Which of the following is an example of a category killer?
Home Depot
Zoe is planning to open an upscale dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at the time?
Location
Exterior and interior characteristics such as layout, displays, color, and lighting are all elements of a store’s
atmospherics.
The marketing of products to ultimate consumers through face-to-face sales presentations either at home or the workplace is called
direct selling.
An arrangement in which a supplier grants a dealer the right to sell products in exchange for some type of consideration is
franchising.
The coordination of promotion and other marketing efforts for maximum informational and persuasive impact defines
integrated marketing communications.
In the GEICO advertisement that claims, “15 minutes can save you 15% or more,” GEICO is the communication
source.
Factors such as climate, seasons, and holidays tend to lead to the promotional objective of
reducing sales fluctuations.
Advertising, personal selling, sales promotion, and public relations are called
promotion mix ingredients
Product placement is the strategic location of products
within entertainment media content.
Pioneer advertising is most likely to be used during which of the following product life-cycle stages? (Think: Ray-Ban Meta Smartglasses)
Introduction
The two major types of product advertising are
pioneer and competitive.
The percentage of consumers in the target audience actually exposed to a particular advertisement in a stated period of time is the definition of
reach.
The verbal portion of an advertisement, including headlines, body, and signature, is called the
copy.
The identification of an advertisement’s sponsor is the
signature.
Which of the following is NOT a public relations tool?
Product sample
A major disadvantage of personal selling is that it
is very expensive per contact.
The final stage of the selling process is
following up.
The step of the personal selling process in which a salesperson contacts a potential customer is called
the approach.
During the personal selling process, a salesperson, if possible, should handle objections when
they arise.
______ that generates loyal long-term customers is likely to be extremely profitable in repeat sales as well as the money saved in trying to find new customers.
Relationship selling
Signs, counter pieces, racks, and self-service cartons are all forms of
point-of-purchase displays.
Which of the following is an example of a sales promotion technique?
Coupons
Rebates
Free samples
Point-of-purchase
All of the above
What is not a benefit of a sales career with a straight commission compensation plan?
High degree of security
Trading products is the oldest form of exchange, and is commonly known as
barter.
When marketers emphasize price as an issue and match or beat the prices of other companies, they are using
price competition.
One advantage of nonprice competition is that
a firm can build customer loyalty.
For most products, a(n) ____ relationship exists between the price of a particular product and the quantity demanded.
inverse
The owner of Big Jim’s Motorcycles is opening a new retail location. Which of the following is most likely to be a fixed cost for Big Jim’s Motorcycles?
Building rent
At what point does a firm maximize profit?
The point at which marginal cost equals marginal revenue
For most consumers, there is an assumed relationship between
price and quality.
Sara buys a new dress at Marshalls that has a price tag with “Compare at $150.00. Our Price $89.99.” This is an example of the use of
an external reference price.
Buyers who focus on purchasing products that signify prominence and status are
prestige-sensitive buyers.
When establishing prices, a marketer’s first step is to
develop pricing objectives.
Which of the following pricing objectives sets prices to recover cash as quickly as possible?
Cash flow
The three primary bases for developing prices are
demand, competition, and cost.
During the hot, humid months of July and August, Pinewood Links Golf Course, located in Georgia, offers weekday rates of $13 for a round of golf with a cart. During the rest of the year, the weekday rates are between $25 and $35. This is an example of the use of
demand-based pricing.
If Bubly sets its twelve-pack price to match the price charged by LaCroix, Bubly is using which of the following pricing methods?
Competition-based
The “White Sale” that many department stores have every year a few weeks after Christmas is an example of
periodic discounting.
If Kashi wants to gain a large market share quickly with its new line of reduced-fat snack crackers, it should use
penetration pricing.
Odd-even pricing is
a psychological pricing strategy.
To attract customers into a store, Kroger advertises its milk at less than cost, hoping that customers will purchase other groceries as well. This pricing strategy is called
price leader pricing.
If a business decides to reduce its prices once in a while on an unsystematic basis, it is using
random discounting
