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

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Question 41

Multiple Choice

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The highest-cost transportation method is:

A) railroad.
B) truck.
C) ship.
D) air.

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

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Question 42

Multiple Choice

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Sharp Focus Cameras is facing intense competitive pressure. Top marketing managers are looking for ways to cut costs. They are considering a plan to cut distribution costs by eliminating marketing intermediaries from the channel of distribution. If Sharp Focus carries out this plan, it is likely to find that:

A) most of the marketing functions performed by marketing intermediaries are helpful, but they aren't really necessary.
B) as the producer of the products, it will be able to perform the same functions more efficiently.
C) it will be unable to perform the functions as efficiently as they were performed by the marketing intermediaries.
D) telemarketing will become the only viable means of distributing its products.

E) None of the above
F) A) and B)

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Question 43

Multiple Choice

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Producers who use an exclusive distribution strategy for their products can expect retailers who carry the products to do which of the following?

Nordic Track utilizes newspaper and TV ads designed to motivate potential buyers to seek out their product. This represents a push promotional strategy.

For most firms, price competition is the most important way to gain a competitive advantage over rivals.

Creative product differentiation can enable a small business to increase market share.

Specialty stores use a wide variety of products in one product category as their key competitive tool.

Once an organization surveys the consumer's wants and needs, has designed a group of products to meet those needs, and begun to market them in stores, the organization is assured of success.

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

While the packaging of services has not yet captured the attention of businesses, technological improvements will likely create new opportunities.

Companies that adopt a pull strategy target their promotional efforts toward:

A long-run pricing objective of almost all firms is to optimize profit.

One reason many large consumer-product companies make use of __________ is to have greater control over new-product development and product promotion.

A __________ allows B2B buyers to see products online 24 hours a day, 365 days a year without having to leave their office.

Which of the following firms would be most likely to use a selective distribution strategy for its products?

The target costing strategy establishes a selling price that consumers are willing to pay for a product, and then subtracts a desired profit margin to determine a target cost of production.

A competition-based pricing strategy called __________ involves one or more dominant firms establishing the pricing practices that all competitors in an industry follow.

As firms develop their marketing mix, it is important to remember that:

Advertising provides the public with free TV and radio programs.

Publicity works and is often used only if the media finds the information interesting or newsworthy.