Marketing Exam 3 – Flashcards
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Companies facing the challenge of setting prices for the first time can choose between two broad strategies: ________.
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Market skimming and market penetration
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A company sets not a single price, but rather a ________ that covers different items in its line that change over time as products move through their life cycles.
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Pricing structure
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A market-skimming pricing strategy should not be used for a new product when ________
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Competitors can undercut prices easily.
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When a company sets a high price for a new product with the intention of reducing the price in the future it is using the ______pricing strategy.
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Market Skimming
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Companies which set a low price for a new product in order to attract a large number of buyers and a large market share are using the ________ strategy.
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Market Penetration Pricing
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Which of the following product mix pricing strategies involves setting prices across an entire product range?
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Product Line Pricing
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Which of the following product mix pricing strategies involves pricing additional or accessories products sold along with the main product.
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Optional Product Pricing
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Which of the following product mix pricing strategies involve pricing products that can only used with the main product?
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Captive product pricing
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In the case of services captive product services is called ____ pricing?
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Two Part
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The sets of firms that supply companies with the raw materials, components, parts, information, finances, and the expertise needed to create products or services are known as _______.
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Upstream Partners
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Which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its' customers?
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Downstream Partners
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A _______ is made up of the companies suppliers, distributors, and customers who partner to improve the performance of the entire system?
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Value Delivery Network
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A _____ is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.
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Marketing Channel
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From the economic systems point of view the role of _____ is to transform assortments of products made by producers into assortments wanted by consumers.
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Marketing Intermediaries
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A _______ is a layer of intermediaries that performs some work in bringing the product and its' ownership closer to the final buyer
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Channel Level
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In a ______ channel the same member produces and distributes the product or service to consumers.
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Direct
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At its most basic form the marketing channel consists of a producer and _______ .
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Consumer
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A marketing channel that consists of one or more intermediaries is known as a _______ marketing channel.
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Indirect
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The greater the number of channel levels in a marketing channel the ________.
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The greater the channel complexity
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_______ includes all activities involved in selling products directly to final consumers for personal and non business use.
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Retailing
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________ is a type of service offered by those retailers who serve customers who are willing to perform their own looking and comparing proccess to save money.
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Self Service
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______ are retailer that offer sales assistance because they carry more shopping goods about which customers might needs more information.
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Limited Service Retailers
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What type of retailer usually carries more specialty goods at high prices and is more likely to provide customers with assistance with every faze of the shopping process?
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Full Service Retailer
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Today ______ are flourishing due to increased sue of market segmentation and market targeting.
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Specialty Stores
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_______ are facing slow sales growth because slower population growth, increased competition and the rapid growth of out of home eating.
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Super Markets
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Which of the following is the most visited retail store?
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Convenience Store
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A ______ is a small store located near a residential area that is open long hours seven days a week that carries a limited line a high turnover goods.
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Convenience Store
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Which type of store is much larger than regular super markets and offers a large assortment of routinely purchased food products, nonfood items, and services?
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Superstore
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Home Depot and Pet Smart are examples of?
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Category Killers
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Which of the following would be considered a service retailer?
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Gas Stations
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_______ sells standard merchandise at lower prices by accepting lower margins and selling higher volumes?
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Discount Stores
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The early ______ cuts expenses by offering fewer services and operating in warehouse like facilities in low rent heavily traveled districts.
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Discount Stores
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Which of the following is one of the five major promotional tools?
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Direct Marketing
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Any paid form of non personal presentation and promotion of ideas goods and services by an identified sponsor is called _____.
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Advertising
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The use of short term incentives to encourage the purchase or sale of a product or service is called _____.
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Sales Promotion
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Which of the following promotional tools involve building up a good corporate image and handling stories and events?
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Public Relations
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Which of the following promotional categories is likely to include the use of displays?
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Sales Promotion
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_________ Includes sales presentations trade shows and incentive programs.
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Personal Sellling
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Which of the major promotions category uses catalogs, telephones marketing, and internet?
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Direct Marketing
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Which of the following promotional catagories is most likely to use promotional tools such as press releases, sponsorships, events, and web pages?
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Public Relations
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Today consumers do not need to rely on marketer supplied information of products and services because they believe ______ to seek out a wealth of information.
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Internet
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To carefully integrate and coordinate the companies many communication channels to deliver a consistent message about the organization and its products some companies appoint to ______ .
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Marketing Communications Director
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Any paid form of non personal presentation and promotion of ideas goods and services by an identified sponsor is known as _____ .
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Advertising
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Advertising is mostly used by?
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Business Firms
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The decisions about impact engagement of an advertisement falls into the category of ______ decisions.
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Media
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An advertising objective is classified by its primary purpose which is inform, persuade, _______ .
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Remind
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When the advertising objective to build primary demand for anew product category _____ advertising will most likely be used.
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Informative
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Persuasive advertising becomes ______ advertising when a company directly or indirectly compares its brand with one or more other brands.
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Attack
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Comparative advertisement is also known as ______ advertisement.
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Attack
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Describing available services and so forth is most likely a form of ______ advertising?
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Informative
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Keeping brands in a customers mind during off season is most likely a goal of ______ advertising?
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Reminder
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A product in the maternity state would require _____ advertising?
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Reminder
