Marketing Final 9-16 – Flashcards
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pricing methods involves setting prices based on the costs of producing, distributing, and selling a product plus fair rate of return for effort and risk?
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Cost-based pricing
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refers to attaching features and services to differentiate a company's offers while charging higher prices?
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Value-added pricing
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the only element in the marketing mix that produces revenue?
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Price
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Harold sells ice cream from an ice cream truck
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Cost-plus pricing
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what is the purpose of a demand curve?
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to demonstrate how product demand determines price
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on a budget stores realizes that it holds a special place in the market...Which of the following does on a budget stores use to determine its prices?
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Price Elasticity
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Sharon runs white wheat farm in Eastern Oregon.
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Pure competition
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Access energy is going to enter the coffee market and start making coffee machines. What strategy did Access energy use?
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Target costing
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is least likely to be a consideration when setting the price for a product?
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Frequency of advertising
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is least likely to be used to increase product sales in a particular market?
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introducing a fighter brand
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Doors Inc. Which of the following, if true, would strengthen the CFO's argument for adopting a price skimming strategy?
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Large organizations are eager to adopt the new version because of improved enterprise functions.
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Doors Inc. Which of the following, if true, would strengthen the CEO's argument for adopting market-penetration pricing?
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there are significant economies of scale in production
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best describes the purpose of market penetration pricing?
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to gain large amounts of market share
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Product mix strategies differ from other product pricing strategies in which of the following ways?
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prices in a product mix are set to maximize profit on several products, not one.
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price increases in most likely to lead to a negative customer reaction
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a company sets high prices in order to take advantage of customer need
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involves temporarily lowering pricing to fuel sales on short-term basis?
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promotional pricing
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Legal Eagle Law Firm. Which of the following pricing strategies is being used by Legal Eagle Law Firm?
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Psychological pricing
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When competitors collaborate to determine the price of an item, they are engaging in which of the following?
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Price Fixing
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Fran's Fashions. What is Fran's Fashions doing?
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Price fixing
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Whis is the biggest problem with confronting predatory pricing?
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intent
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is NOT a reason that companies develop marketing channels?
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to assist in the development of new products
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How does a conventional distribution channel differ from vertical marketing system (VMS)?
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Intermediaries in a VMS are unified, whereas in a conventional distribution channel the members are autonomous
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is NOT considered when a company sets channel objectives?
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Company location
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Which method of selecting marketing intermediaries involves giving a limited number of intermediaries the right to distribute a product?
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exclusive distribution
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Ready to Grow. what is the first thing that the company should do in order to prepare to create new marketing channels?
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analyze the needs of its customers
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Phoenix Corporation. which of the following, if true, would weaken the argument for intensive distribution
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the company plans to market the shoes as a high-end luxury brand
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Phoenix Corporation. which of the following, if true, would strengthen the argument for intensive distribution
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consumers treat the kinds of shoes that phoenix will produce as commodities
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is not a problem that must be considered when dealing with international distribution channels
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product availability
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is NOT an integral part of marketing channel management
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control of channel members
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is NOT a standard used to evaluate channel members
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marketing budget
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Make That Quota. which of the following is the best decision for Make that Quota to make?
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Terminate the relationship with One More Sprocket and find a better intermediary
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Flora's Arrangements. What must Flora do to attain her goals?
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Convince channel members they can succeed better by creating a cohesive value delivery network
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which of the following would NOT be a consideration when selecting a channel member
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the company's corporate structure
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which of the following involves managing the upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers?
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supply chain management
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Mark is responsible for creating and maintaining a logistics system for his company. Which of the following would Mark NOT be likely to do as function of his job?
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Assist in the development of new products and product lines
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Astrid. What problem is Astrid facing?
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a lapse in inbound logistics
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what is the ultimate goal of marketing logistics
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provide target level of customer service at the least cost
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retailing involves sales primarily to which group of people?
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consumers
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which of the following best describes a retailer who buys at less-than-regular wholesale prices and sells at less than retail
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off-price retailer
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Germaine's Glassware. which of the following does germaine's glassware engage in?
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shopper marketing
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Amy's artwork supply. which of the following best describes Amy's Artwork supply?
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a corporate chain
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Jensen Winchester. What does Jensen believe his company should enhance?
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its shopper marketing
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retailers and wholesalers are similar in which of the following ways?
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both focus on bringing value to customers
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Wholesalers are not as likely to be as well-known as retailers for which of the following reasons?
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the do not sell directly to consumers
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Direct retail. which of the following, if true, would strengthen the argument for creating a discount store chain?
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the retailer's logistics operations are more efficient than the industry norm
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Direct retail. pursues the discount store approach, which of the following is most likely to be true
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it will seek to create profit through large volume of sales, rather than higher profits
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which of the following is NOT considered a retailer marketing decision?
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financing
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the practice of charging higher prices on an everyday basis while offering frequent promotions and sales is known as which of the following
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high-low pricing
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Cellie's Cell Phones. which of the following does Callie's focus on in order to differentiate itself from the competition?
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services mix
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Avery Ennis. Where is avery going to go shopping
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power center
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which of the following is a decision that is made by both retailers and wholesalers?
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segmentation of target market
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how can smaller retailer compete with megaretailer in the same market
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create unique offerings to gain proper positioning
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how should retailers react to economic difficulties
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focus on building customer value
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in the wheel of retailing concept, which of the following does NOT eventually occur to a new retailer
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the retailer maintains a top position in the market
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which of the following does not explain why megaretailers are becoming so successful?
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more innovative advertising techniques
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Old Fashion Bread. which of the following is the best technology to incorporate
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install touch-screen kiosks to give customers more information about the products in the store
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which of the following is NOT a current trend in retail development?
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retailers are decreasing their reliance on tech
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which of the following would not be a channel function of a wholesale operation?
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store differentiation
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which of the following best describes a wholesaler whose function is to bring buyers and sellers together and assist in negotiation?
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broker
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Rodney. which of the following best describes Rodney?
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hes an agent
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Wendy's Wholesalers. What tactic is Wendy's using?
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bulk breaking
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Today's wholesalers face many challenges
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Increase efficiency and effectiveness
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which of the following is true about the promotion mix?
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it needs to be coordinated with other parts of the marketing mix
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discounts, displays, demonstrations, and coupons are used in which of the following methods of promotion?
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sales promo
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a company. which of the following is this company working on?
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its promotion mix
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Edwin Unger. What is edwin's primary responsibility?
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personal selling
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which of the following elements of the promotion mix is most dependent on the image of the company?
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public relations
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which of the following is not a consideration when developing an advertising strategy?
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product lines
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the nature of the promotions mis has been most affected by which of the following
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changes in communication tech and communication strategies
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which of the following is not a recent change in marketing communication
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the use of a promotion mix
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in a pull strategy, marketing activities are directed primarily toward which of the following
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consumers
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Viva la Video Games
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integrated marketing cummunications
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Felix Systems
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brand content manager
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which of the following promotion mix elements are used most often in a push strategy
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personal selling and trade promotion
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which of the following execution style features shows how a product falls in line with the way a particular set of people choose to live their lives
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lifestyle
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which of the following is not involved in the selection of advertising media
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determining which product to advertise
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which of the following involves setting the advertising budget at a portion of projected sales or a portion of the unit sales price
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percentage-of-sales method
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which of the following public relations functions is concerned with building and maintaining relationships with legislators and government officials to influence legislation and regulation
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lobbying
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Book Club Books
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the company has a horrendous return on advertising investment
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Holistic Consumables
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consumer expressions
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Jim Riley
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Advertisement
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Sapphire
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it is difficult to determine which specific tasks will achieve Sapphire's objectives
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Sapphire. which of the following would be the most effective counterargument?
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Companies differ greatly, and each has its own special promotion needs.
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which of the following is true about an advertising special
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it must be distinctive from other advertistements
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which of the following is an advantage public relations efforts have over advertising
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PR are most cost effective
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Dreamboat Dolls
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corporate identity materials
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why is pr occasionally referred to as a marketing stepchild
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because of its limited and scattered use
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the phenomenon that occurs when a company becomes attached to a salesperson is known as
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salesperson-owned loyalty
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which of the following is not an action usually undertaken by a salesperson
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advertisting
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American Motors
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personal selling
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the most important aspect of sales promotion can be considered which of the following
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the relationship with the customer
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which of the following best describes the ideal relationship between salespersons and marketers
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salespersons and marketers should cooperate in order to create value for customers
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the practice of using people from several departments in a company in order to service a large sales account is known as which of the following
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team selling
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which of the following represents a sales quota
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the amount of product required to be sold by a salesperson
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Multilevel Computing
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inside sales force
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Alice Ledbetter
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it didn't offer any incentive pay
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sales force management depends largely upon which of the following
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finding, training, and motivating quality salespeople
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which of the following represents a major advantage to a customer sales force structure
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organizing the sales force around customers can help build closer relationships with important customers
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which of the following is the focus of value selling
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delivering and demonstration customer value
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Mark Abernathy
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handling objections
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Personal selling differs from reliance on consumer promotion tools in which of the following ways
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Consumer promotion tools are financially based rather than relationship based
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which of the following group is not targeted by sales promotion tools
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suppliers
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which of the following is usually associated with trade promotion
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getting more shelf space for products
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a company is attempting to convince a retailer to feature its product
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an allowance
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Awesome Hair products
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sponsored an event
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Jennifer Bowls
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promotion clutter
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Marketers need to evaluate the success of their promotional activities, the most common evaluation method is to
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compare sales before, during, and after the promotion
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how does direct and digital marketing differ from mass marketing
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direct and digital rely on one-on-one interaction, whereas mass marketing targets large groups
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for consumers, the benefits of digital marketing include all of the following except which one
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there is not enough variety online
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Joanne's House of Style
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switch to digital marketing techniques
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which of the following is not a reason that a company would choose to use direct or digital marketing strategies?
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it requires less effort from marketers
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which of the following is common factor in all forms of direct and digital marketing
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the ease of contact with customers
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Selenium Inc.
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the consumers' direct-mail marketing reaches are much better prospects compared to those reached by advertisting
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direct digital marketing tools include all of the following except
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catalogs
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which of the following allows marketers to send highly targeted, tightly personalized, relationship-building messages?
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e-mail marekting
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if a company creates a web site that does not sell its products but rather presents brand content and engages consumers, what has the company made
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branded community web site
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Vicky's Vivacious Curves
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blogs
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Reba's Fried Chicken
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Multichannel marketing
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Larry Burns
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contextual advertising manager
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why is online marketing so successful in today's society
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consumers spend a lot of time online
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what is a possible downfall of viral marketing?
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it is hard to predict or control where the message ends up
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what is perhaps the biggest advantage of social media marketing?
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customer engagment
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Andre
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mobile marketing
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Selenium Inc
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customers can use a menu of email selections to opt into receiving only communications marketing products they are interested in
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which of the following marketing methods involves sending an item directly to a person
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direct-mail marketing
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which of the following is not a concern associated with online marketing
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expense of maintaining web sites
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what is the purpose of COPPA
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to protect the rights of children
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Better Batteries
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infomercials
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Edward
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Edward was a victim of phising
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Ed and Stanley
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printed catalogs are the best way to drive online and mobile sales
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Consumer privacy and security are rapidly growing concerns in the digital age
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hire a self-regulatory organization to audit privacy and security measures
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how have the do-not-call regulations helped direct marketers
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by creating an opt-in calling system that provides only willing consumers
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which of the following is not a type of industrial structure
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post-war economy
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which of the following best describes a group of nations organized to work toward common goals in the regulation of international trade
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free trade zone
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which of the following best describes a firm that operates in more than one country
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global firm
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A large Asian country
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tariffs
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an american company is planning to sell its product in a foreign market
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cultural differences
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which of the following is the most important factor in whether or not a company decides to globalize
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its ability to navigate a foreign market
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all of the following affect how a company enters a foreign market except which
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the type of product the company sells
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which of the following is not a factor in whether or not a company adapts its products or marketing strategy for foreign market
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the organizational structure of the company
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which of the following is not a reason a company would choose to globalize
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to diversify its product base
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entering foreign markets by selling goods produced in the company's home country, often with little modification, is know as
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exporting
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which of the following methods of entering foreign market has the greatest balance of control between domestic and foreign investors
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joint ownership
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Kid's Television Network
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licensing
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It's Elementary
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indirect exporting
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The Aberdeen Group. which of the following, if true, would most strengthen the argument for contract manufacturing
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Aberdeen does not want to assume too much risk, at least initially
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The Aberdeen Group. which of the following, if true, would most strengthen the argument for direct investment
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the operation will be used as an export hub for south asian markets
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for a company, direct investment represents which of the following
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the biggest involvement in a foreign market
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which of the following involves channel design that takes the entire global supply chain and marketing channel into acct
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whole-channel view
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if a company keeps its marketing strategy consistent across all international markets, its is engaging in which of the following
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standardized global marketing
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Country Candy
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product adaption
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All in One Industries
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make a simpler laptop that can be sold at a lower price
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which of the following is the initial step for most companies in entering the foreign market
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start shipping out goods
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what is the smallest and least involved method of global marketing
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export department
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Online Office
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world product group
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Veridian Inc.
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geographical organization
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which of the following best describes an international subsidiary
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an international subsidiary is responsible for its own sales and profits
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which of the following is not a requirement of sustainable marketing
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actions are fiscally feasible
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which of the following is necessary for a company's actions to exemplify sustainable marketing?
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the action must take future generations into account
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Aqua Works
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the actions of the company were not environmentally responsible
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which of the following is true about sustainable marketing
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it focuses on meeting the needs of consumers and businesses
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which of the following is true of the societal marketing concept
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it considers the futures needs of consumers and the present needs of the company
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why is high-pressure selling a poor business practice
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it can damage customer relationship
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Light of the World
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planned obsolescence
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Best Breakfast
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the price is inflated due to the psychological value of the product
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why have companies begun to embrace sustainable marketing practices
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traditional marketing practices were harmful to consumers
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According to environmentalists
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maximize life quality
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why are consumerism and environmentalism important factors in marketing ethics
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they both focus on doing no harm to consumers or the environment
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the advent of new technology
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future increases in the price of fuel are likely to make customers more interested in fuel efficiency
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which statement is a traditional buyers' right?
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to expect a product to preformed as claimed
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which of the following is not a sustainable marketing practice
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a company should always strive to create products at the lowest possible cost
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Infinite Idle
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product-oriented marketing
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the advent of new tech has made it possible for EcoCars
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the cars must have less of an impact on the environment than any other car models
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why are ethical business practices problems in international business
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illegal and unethical practices are considered standard business practices in many countries
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eMarket
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embrace ethical values
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Do No Harm Pharmaceuticals
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helping resolve ethics problems facing employees
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why do companies institute broad corporate marketing ethics policies instead of making the policies mare specific or narrow
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the best thing to do in any situation is often unclear, so guidelines need to be broad
