MKTG Exam 3 Review

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Companies set not a single price, but a pricing _ that covers different itmes in its line and changes over time.
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Structure
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Companies facing the challenge of setting prices for the first time can choose between 2 broad strategies, market penetration testing & _ pricing strategy.
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Market skimming
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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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Which of the following product mix strategies involves setting prices across an entire product range based on cost differences between the products, customer evaluations between…..
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Product-line pricing
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Which of the following product mix pricing strategies involves pricing additional or accessory products sold along with the main product?
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Optional product pricing
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Which of the follow product mix pricing strategies involves pricing products that can only be used with the main product?
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Captive product pricing
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In the case of services, captive product pricing is called _ pricing.
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Two parpt
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Using _ pricing, companies are able to turn their trash into cash, allowing them to make their main product price more competitive.
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Byproduct
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Which product mix pricing strategies involves pricing multiple products to be sold together?
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Product bundle pricing
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What kind of strategy is “discount and allowance”?
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Price adjustment strategy
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Set of firms that supply companies with the raw materials, components, parts, information, finance and expertise needed to complete products and services are known as _.
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Upstream partners
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Which term 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 company suppliers, distributers, 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 b the consumer or business user.
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Marketing channel
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In a _ channel, the same member both produces and delivers a product or service to consumers.
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Direct
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At its most basic form, a marketing channel consists of a producer and the _.
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Consumer
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_ are complex behavioral systems in which people and companies interact to accomplish individual and company channel goals.
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Distribution Channels
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Conflict that occurs amongst firms at the same level of marketing channel is known as _ conflict.
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Horizontal
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A _ marketing system consists of producers, wholesalers, and retailers acting as a unified system.
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Vertical
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_ includes all the activities involved in selling products or services directly to final consumers for their personal 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…….
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Self Service
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_are retailers that offer sales assistance because they carry more shopping goods about customer……..
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Limited retailers
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Today, _ are flourishing due to the increased use of market segmentation and market targeting.
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Specialty stores
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_ are facing slow sales growth because of the slower population growth, increased competition, and the rapid growth of out-of-home eating.
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Supermarkets
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A _ is a small store located near a residential area that is open long hours, 7 days a week, that carries a limited line of high turnover goods.
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Convenience store
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Home Depot & PetSmart are examples of _.
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Category killers
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_ retailers in the U.S are growing faster than product retailers.
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Service
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The early _ cut expenses by offering few services and operating warehouse line facilities with low rent in heavily trafficked districts.
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Discount stores
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_ are two or more outlets that are commonly owned an controlled.
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Corporate chains
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_ is a wholesaler sponsored group of independent retailers that engages in a group buying and common merchandising.
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Voluntary chain
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McD’s, subway, and Jiffy Lube are all examples of _.
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Franchises
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GameStop sells only v idea games & systems offering a narrow product line…… GameStop is a _.
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Specialty store
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In recent years, service differentiation amongst retailers has _.
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Decreased
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What kind of tool is direct marketing?
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One of the 5 major promotion tools
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Any paid form of non-persona presentation or promotion ideas of goods or 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 products or service is called _.
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Sales promotion
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_ includes sales presentations, trade shows, and incentive programs.
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Personal selling
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Today’s consumers do not need to rely on market or supply information about products or services because they can use _ to seek out a wealth of information.
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Internet
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Shifting away from mass marketing, marketers are developing _ which are designed to build closer relationships with customers in more narrowly defined micro-markets.
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Focus marketing programs
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In order to avoid short-sightedness, today’s marketers are working towards viewing……..
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Customer relationship
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Response is one of the 4 major _ functions.
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Communication
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_ refers. To the process of putting thought into symbolic form
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Encoding
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A _ is a set of symbols that the sender transmits.
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Message
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In the communication process, the reaction of the receiver after being exposed to a message is called the _.
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Response
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When a customer lets a producer know something about its product or advertising, the consumer is providing _.
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Feedback
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Among the buyer readiness stages, the first stage is _…………
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Awareness
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The decisions about impact & engagement of an advertisement fall into the category of _ decisions.
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MEDIA MEDIUM *************
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An advertising objective is classified by its primary purpose which is to inform, persuade, or _.
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Remind
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When the advertising objective is to build primary demand from new 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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Describing available services and support is most likely a goal of _ advertising.
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Informative
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Keeping the brand in a customer mind during off-seasons is most likely a goal of _ advertising.
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Reminder
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To break through the clutter, many marketers have ….
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Madison & vine
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The anime of _ is to make an advertisement so useful or entertaining people want to watch it.
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Advertainment

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