Question 1

Mark believes he has found a sure-fire way to save money.He advises his friends,"Buy directly from the manufacturer.Any time intermediaries get involved,you'll pay a higher price.After all,every intermediary involved in the marketing process must charge enough to earn a profit".Mark's advice:

Accepted Answer

A)  is entirely correct.Intermediaries must charge a high enough price for the activities they perform to earn a profit,so using intermediaries must result in a higher price.
B)  is impractical,because in most markets the distribution process is so complex that it is impossible to determine who the actual producer really is.
C)  is not valid in many cases.Intermediaries do add costs to products,but they also create values by performing marketing functions efficiently.In many cases the values they create more than offset the costs.
D)  is never true.Markets that make use of intermediaries can always provide goods at lower cost than those that rely on direct distribution.E) C) and D)
F) B) and D)

Question 2

As the Internet grows in popularity,it is likely that more firms will adopt a high-low pricing strategy.

Accepted Answer

A) True 
 B)False

Question 3

Compared to advertising,publicity offers the advantage of greater:

Accepted Answer

A)  flexibility.
B)  personal appeal.
C)  believability.
D)  message repetition.E) C) and D)
F) A) and C)

Question 4

Some kiosks also make use of non-store retailing through having an internet site.

Accepted Answer

A) True 
 B)False

Question 5

Direct selling is a distribution strategy that makes extensive use of the Internet and telephone.

Accepted Answer

A) True 
 B)False

Question 6

The use of coupons and sales contests represent public relations activities.

Accepted Answer

A) True 
 B)False

Question 7

A competition-based pricing strategy in which all the competitors in an industry follow the pricing practices of one or more dominant firms is known as:

Accepted Answer

A)  market fixing.
B)  price penetration.
C)  price leadership.
D)  primary pricing.E) All of the above
F) A) and C)

Question 8

Mall owners like to have ______ located along the walkways of their malls,because they create a marketplace type of atmosphere.

Accepted Answer

A)  cartels
B)  storettes
C)  kiosks
D)  minimartsE) All of the above
F) C) and D)

Question 9

Direct mail is usually the best advertising medium to reach specific target markets.

Accepted Answer

A) True 
 B)False

Question 10

One way marketing intermediaries improve marketing efficiency is by reducing the number of exchange relationships necessary to move goods through the channel of distribution.

Accepted Answer

A) True 
 B)False

Question 11

Target costing adds a profit margin to estimated cost of production to determine the optimal price.

Accepted Answer

A) True 
 B)False

Question 12

A firm's promotion mix consists of their pricing and distribution strategies.

Accepted Answer

A) True 
 B)False

Question 13

Successful firms coordinate pricing objectives and strategies with decisions regarding product design,packaging,branding,distribution,and promotion.

Accepted Answer

A) True 
 B)False

Question 14

Brand managers are responsible for the marketing of a product after it has been developed and a clear promotional message identified.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

At a recent sporting event,a local beer distributor gave free beverage mugs to all adults with a paid admission.This is an example of:

Accepted Answer

A)  market segmentation.
B)  sampling.
C)  publicity.
D)  sales promotion.E) A) and B)
F) A) and C)

Question 17

An effective channel of distribution does more than simply ensure that goods are transported efficiently from producer to buyer.

Accepted Answer

A) True 
 B)False

Question 18

The Canadian legal system does not offer trademark protection.

Accepted Answer

A) True 
 B)False

Question 19

A channel of distribution consists of the marketing intermediaries who join together to transport and store goods in their path from producers to consumers.

Accepted Answer

A) True 
 B)False

Question 20

Mystic Beverages,a producer of soft drinks,wants to differentiate its products from those of other soft drink providers.To implement this strategy successfully will require Mystic to create recognizable differences in the physical product it offers.

Accepted Answer

A) True 
 B)False

Exam 15: Managing the Marketing Mix: Product, Price, Place, and Promotion

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

Correct AnswerverifiedShow Answer

An effective channel of distribution does more than simply ensure that goods are transported efficiently from producer to buyer.

Correct AnswerverifiedShow Answer

The Canadian legal system does not offer trademark protection.

Correct AnswerverifiedShow Answer

Some kiosks also make use of non-store retailing through having an internet site.

Correct AnswerverifiedShow Answer

Target costing adds a profit margin to estimated cost of production to determine the optimal price.

Correct AnswerverifiedShow Answer

A channel of distribution consists of the marketing intermediaries who join together to transport and store goods in their path from producers to consumers.

Correct AnswerverifiedShow Answer

Successful firms coordinate pricing objectives and strategies with decisions regarding product design,packaging,branding,distribution,and promotion.

Correct AnswerverifiedShow Answer

Mall owners like to have ______ located along the walkways of their malls,because they create a marketplace type of atmosphere.

Correct AnswerverifiedShow Answer

Direct mail is usually the best advertising medium to reach specific target markets.

Correct AnswerverifiedShow Answer

Direct selling is a distribution strategy that makes extensive use of the Internet and telephone.

Correct AnswerverifiedShow Answer

One way marketing intermediaries improve marketing efficiency is by reducing the number of exchange relationships necessary to move goods through the channel of distribution.

Correct AnswerverifiedShow Answer

A firm's promotion mix consists of their pricing and distribution strategies.

Correct AnswerverifiedShow Answer

At a recent sporting event,a local beer distributor gave free beverage mugs to all adults with a paid admission.This is an example of:

Correct AnswerverifiedShow Answer

Mystic Beverages,a producer of soft drinks,wants to differentiate its products from those of other soft drink providers.To implement this strategy successfully will require Mystic to create recognizable differences in the physical product it offers.

Correct AnswerverifiedShow Answer

The use of coupons and sales contests represent public relations activities.

Correct AnswerverifiedShow Answer

Brand managers are responsible for the marketing of a product after it has been developed and a clear promotional message identified.

Correct AnswerverifiedShow Answer

Mark believes he has found a sure-fire way to save money.He advises his friends,"Buy directly from the manufacturer.Any time intermediaries get involved,you'll pay a higher price.After all,every intermediary involved in the marketing process must charge enough to earn a profit".Mark's advice:

Correct AnswerverifiedShow Answer

Compared to advertising,publicity offers the advantage of greater:

Correct AnswerverifiedShow Answer

A competition-based pricing strategy in which all the competitors in an industry follow the pricing practices of one or more dominant firms is known as:

Correct AnswerverifiedShow Answer

As the Internet grows in popularity,it is likely that more firms will adopt a high-low pricing strategy.

Correct AnswerverifiedShow Answer

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