Principles of Marketing Practice Final chapters 13, 16, 18 & 19 – Flashcards

Tread Inc. is the market leader for sports shoes in the subcontinent of Gavon. Though the brand has not introduced any new product lines over the past decade, its signature products enjoy a high demand and have always remained popular. According to the concept of advertising response function, which of the following should be Tread Inc.'s advertising strategy? a.​ Its advertisements should easily affect target consumers' deeply rooted values and attitudes. b. ​It should spend proportionately less on advertising than on a newer line. c. ​It should penetrate consumers' perceptual defenses and affect purchase intentions. d. ​It should have a large budget for advertising expenditures.

Grand Trunk Inc., a furniture manufacturing company, does not manufacture furniture until an order is received. It coordinates and integrates the activities of its suppliers, designers and carpenters to ensure an efficient production cycle. This enables Grand Trunk Inc. to deliver the products to customers within five working days. This is an example of _____.​ a. customer service management​ b. yield management​ c. asset lifecycle management​ d.​ supply chain management

_____ is the number of times an individual is exposed to a given message during a specific period. a. Contact b.​ Life span c.​ Reach d.​ Frequency

Mobile marketing is an effective tool for gaining insight into consumer behavior.​ True False

Laelle Corp., a furniture manufacturing company, uses marketing efforts like paid television commercials and magazine inserts to publicize its products. These are examples of activities associated with: a.​personal selling. b.​franchising. c.​advertising. d.​nonstore retailing.

When retailers stock exclusive versions of products that have similar specifications to ones carried in other stores but have different model or serial numbers, it facilitates price matching.​ True False

Price matching is one of the ways to counter a competitor's prices.​ True False

Supply chain management gives assembly line employees total visibility and control of the materials, processes, money, and finished products both inside and outside the company they work for.​ True False

_____ is the selling to two or more different buyers, within a reasonably short time, of commodities (not services) of like grade and quality at different prices where the result would be to substantially lessen competition.​ a.​ Bait pricing b.​ Price fixing c. Penetration pricing d.​ Price discrimination

If the goal of the promotion plan is to improve the image of the company or the industry, _____ may be used. a. pioneering advertising b. ​comparative advertising c.​ competitive advertising d. institutional advertising

Marketing channels attain economies of scale:​ a. through minimum interaction with suppliers.​ b. ​through specialization and division of labor. c. by aiding downstream producers to consumers.​ d. by providing form utility to producers.​

At a price of $2,000 per unit, the demand for Ranger 60 mountain bikes from Cloyd's Inc. is 300 units, which is same as the number of bikes manufactured every year. If the marketing managers at Cloyd's Inc. decide to sell each bike at a price lower than $2,000 per unit, _____.​ a. ​the number of bikes being made will increase drastically b. ​the demand and supply for the bike will attain equilibrium c. ​a shortage of bikes will be created d. ​an inelastic demand for the bikes will be created

Unlike magazine advertising, radio advertising: a. ​has high unit and production costs. b. ​poses difficulty in communicating humor. c. ​provides maximum flexibility. d. has longer lead time.

Corporate blogs are easy to maintain because they do not require in-depth writing or monitoring of comments.​ True False

A popular production house wants to release a teaser of one of its upcoming movies to create a buzz among public. Given this information, which of the following would be the best platform to be used by the production house?​ a. StumbleUpon b. ​Imgur c. ​YouTube d. Photobucket

At a local supermarket, Linda saw a box of plant fertilizer that was retailed at $25 but was marked down to $20.99. Given this information, $20.99 is the:​ a.​ price. b. ​dividend. c. ​profit. d. ​margin.

To increase the popularity of its new range of smartphones, GizmoPro Inc., a mobile phone manufacturer, offered several other products for free to customers who bought the smartphones. However, the management of GizmoPro Inc. soon found this to be an unsustainable practice. The company then decided to offer discounts on the products instead of giving them for free. These actions of the management of GizmoPro Inc. are aimed at:​ a. sales maximization. b. demandorientation. c. ​market share pricing. d. ​profit maximization.

In the context of supply chain integration, relationship integration:​ a. is a type of internal integration sought by firms interested in providing top-level service to customers.​ b. ​makes performance assessments transparent and measurable across the borders of different firms. c. enables companies to act as multiple individual units.​ d. includes ways in which companies collaborate on activities or projects.​

Advertisements of Brita LED Lightings are in the form of comparative advertising to emphasize the benefits of using LEDs over CFLs. The ads emphasize that Brita's LEDs cost less than CFLs or other brands' LEDs, last longer, consume lesser energy, and need to be replaced fewer times than CFLs. In this case, which of the following advertising appeals is used in these ads? a. ​Health b. ​Admiration c.​ Vanity and egotism d. ​Profit

In social media, negative comments and complaints can illuminate unknown brand flaws.​ True False

Which of the following statements is true of retailers?​ a. They facilitate the movement of products from the manufacturer to producers and resellers.​ b. ​They provide contact efficiency for consumers. c. They facilitate exchanges of ownership between buyers and sellers.​ d. They provide time and place utility to agents and brokers.​

A _____ enables consumers to return products to the retailer or manufacturer in the event of a product defect, or at the end of the product's useful life to the consumer.​ a. digital channel​ b. ​gray marketing channel c. reverse channel​ d. nontraditional channel​

_____ is sometimes called a "market-plus" approach to pricing because it denotes a high price relative to the prices of competing products.​ a. ​Price skimming b. ​Penetration pricing c. ​Status quo pricing d. ​Bait-and-switch pricing

Lina orders a spare part for her custom-built bike from Lumberne Technologies Inc. The company makes use of three-dimensional printing to produce the spare part in one of the nearby branches of the firm. In this case, which of the following technologies is used to produce the spare part?​ a. ​Tampography b. Lenticular printing​ c. Additive manufacturing​ d. Molding​

Traditional marketing media offer a mass media method of interacting with consumers, whereas social media offer more one-to-one ways to meet consumers.​ True False