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

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Question 61

True/False

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Businesses always welcome publicity because it presents the name of the firm and its products to the public for free.

A) True
B) False

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Question 62

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As restaurant chains that specialize in Mexican cuisine, Fernando's and Carmelita's offer similar items on their menus. However, Fernando's restaurants are positioned in the market as elegant establishments with high prices. Carmelita's restaurants, on the other hand, are located in middle-class neighborhoods, with a casual atmosphere that welcomes families with young children. The prices at Carmelita's are in the moderate range. When evaluating the marketing strategies used by these restaurants, we can conclude that:

A) both practice product mix effectiveness.
B) they utilize product differentiation.
C) Fernando's has chosen a shopping good strategy.
D) their target markets differ, with one intended to appeal to the industrial market, and the other designed to attract the consumer market.

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

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Question 63

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Rather than having frequent special sales, Walt's Warehouse has a pricing strategy that maintains lower prices than competitors all the time. Walt's pricing strategy is known as everyday low prices (EDLP).

In order to achieve a social objective, firms use low prices to enable people with low incomes to buy their product.

Slapstick Films advertises their movies on TV programs that their target market of 21-30-year-olds typically watch. Slapstick Films believes the best way of reaching its customers is through a ________ strategy.

You are assigned the responsibility to prepare a promotional campaign for a new allergy relief drug produced by the New England Pharmaceutical Corporation. Outline the highlights of applying both (a) a pull strategy and (b) a push strategy.

Massachusetts Manufacturing has redesigned its promotional strategy. The company now utilizes a system that combines all the elements of their promotion mix to create a more responsive organization providing a consistent message. Massachusetts Manufacturing has adopted a(n) :

Global advertising can save companies money in research and ad design.

About 80 percent of all wholesalers are classified as merchant wholesalers.

The sale of goods to a business purchasing the items for resale is a wholesale transaction.

Borden, Inc., makes pasta, dairy items, and adhesives. These different types of products are referred to as Borden's:

Although HelpUSell brings together buyers and sellers and helps negotiate exchanges, it does not actually take title to any of the goods being traded. HelpUSell would be classified as an agent or broker.

Which of the following is an advantage of magazine advertising?

In evaluating colleges, students and parents are likely to judge a school:

Compared to other promotional tools, publicity:

Words 4 Hire is a nationwide chain of stores that offers such a huge selection of paperback and hardback books at such competitive prices that small local bookstores have a hard time competing with them. Words 4 Hire is best classified as a discount store.

Firms use brand managers or brand teams to give them greater control over both new-product development and product promotion.

Explain how publicity differs from advertising. What are the advantages and disadvantages of publicity in a firm's promotion strategy?

In order for product differentiation to be effective, real product differences must be identified so that one product is clearly better than others.

The formula for break-even analysis includes which of the following components?