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Exam 21: Managing the Marketing Mix: Product, Price, Place and Promotion

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Question 121

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A(n) __________ sells general merchandise directly from the manufacturer at a discount; items may be discontinued or have certain product flaws.

A) department store
B) discount store
C) outlet store
D) specialty store

E) A) and B)
F) A) and C)

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Question 122

True/False

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Saul-Mart is the name of a new chain of discount stores. A major part of Saul-Mart's competitive strategy is likely to be based on keeping its prices lower than those of other types of retailers.

A) True
B) False

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Question 123

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Pattie Bunz operates the Zestee Burgers restaurant. The cost of pickles, onions, buns, catsup, and meat patties would all be considered variable costs for her type of business.

Social media offers opportunities for positive and negative word-of-mouth promotion.

A firm that wants to distribute its products as widely in a market as possible would use a(n) ___________ distribution strategy.

Which of the following statements about global advertising is most correct?

A firm's promotion mix refers to the combination of different promotional tools used to persuade consumers to participate in an exchange.

Successful firms maintain consistency in their marketing mix strategies throughout the product life cycle.

When it comes to reaching global markets, evidence supports the conclusion that the "one size fits all" approach to promotional mix design is best.

Which of the following is a B2B sales promotion activity?

Folgers's ____________ allows customers to easily identify this product from other coffee products.

Any marketing method that directly links manufacturers or intermediaries with the ultimate consumer could be classified as:

While some products remain in the introductory stage of the product life cycle for years, other products may go through the entire cycle in a few months.

Newspapers, radio, and directories are especially attractive to local advertisers.

Miranda is a marketing manager for a large manufacturer. Her boss has asked her to evaluate a new-product idea. One of the things Miranda wants to determine is how much of this product her firm would have to sell in order to break even. In order to compute this break-even level of sales, she will need to know the price of the good, the total fixed costs, and variable cost of producing each unit.

Which of the following would a firm most likely use to differentiate its product?

One way firms can gain a competitive advantage without relying on low prices is by developing close, friendly relationships with their customers.

Anheuser-Busch/In Bev Company, Inc., has been given the exclusive right to the name Budweiser and is legally protected from others using this name by the __________ they hold.

Advertising reaches a national audience more effectively than it communicates with a local market.

The costs added by marketing intermediaries usually outweigh the value they create.