Question 1

The amount added to a product's cost to meet profit targets is usually expressed as a percentage of

Accepted Answer

A) selling price. 
B) selling costs. 
C) component costs. 
D) total costs. 
E) wholesale price. 
A) selling price. 
B) selling costs. 
C) component costs. 
D) total costs. 
E) wholesale price.

Question 2

A pricing tactic that takes advantage of the fact that consumers do not always respond rationally to stated prices is called psychological pricing.

Accepted Answer

A) True 
 B)False

Question 3

ValueNet Corporation sells electronic learning devices,consumer electronics products,and collectibles directly to consumers using a team of telemarketers.The aggressive cold calling tactics recently boomeranged when the company became the target of irritated consumers and consumer activist groups who flooded ValueNet's phone system with return calls and messages.Management is planning to reduce the reliance on outbound calling and use other approaches like direct-response television (infomercials). Which of the following,if true,would weaken the argument for shifting to direct-response television marketing?

Accepted Answer

A) Most customers perceive infomercial sales tactics to be loud,aggressive,and questionable. 
B) Some companies have found it difficult to adopt a direct-response television strategy. 
C) Consumer behaviour is highly dependent on the state of the economy. 
D) New forms of direct marketing channels such as podcasting and iTV are experiencing exciting growth. 
E) ValueNet's products could successfully be sold using multiple direct marketing methods. 
A) Most customers perceive infomercial sales tactics to be loud,aggressive,and questionable. 
B) Some companies have found it difficult to adopt a direct-response television strategy. 
C) Consumer behaviour is highly dependent on the state of the economy. 
D) New forms of direct marketing channels such as podcasting and iTV are experiencing exciting growth. 
E) ValueNet's products could successfully be sold using multiple direct marketing methods.

Question 4

A wholesaler is an intermediary that sells products to other businesses for resale to final consumers.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following describes best what distinguishes publicity among all other forms of promotion?

Accepted Answer

A) Publicity is less directed than other forms of promotion. 
B) Publicity is less effective than other forms of promotion. 
C) Publicity is more impersonal than other forms of promotion. 
D) Publicity is cheaper than other forms of promotion. 
E) Publicity is more direct than other forms of promotion 
A) Publicity is less directed than other forms of promotion. 
B) Publicity is less effective than other forms of promotion. 
C) Publicity is more impersonal than other forms of promotion. 
D) Publicity is cheaper than other forms of promotion. 
E) Publicity is more direct than other forms of promotion

Question 6

A highly successful bakery specializes in making cherry pie.Which of the following costs at the bakery is not variable?

Accepted Answer

A) Cost of cherries 
B) Cost of flour 
C) Cost of wax paper liners 
D) Cost of the oven 
E) Cost of heating the oven 
A) Cost of cherries 
B) Cost of flour 
C) Cost of wax paper liners 
D) Cost of the oven 
E) Cost of heating the oven

Question 7

This communications vehicle is highly segmented,allows for excellent visual communication,and is long-lived,but requires a long lead-time.

Accepted Answer

A) Online 
B) Television 
C) Magazines 
D) Newspaper 
E) Outdoor 
A) Online 
B) Television 
C) Magazines 
D) Newspaper 
E) Outdoor

Question 8

Department stores,supermarkets,and specialty stores are all

Accepted Answer

A) bargain retailers. 
B) catalogue showrooms. 
C) discount houses. 
D) syndicated sellers. 
E) product line retailers. 
A) bargain retailers. 
B) catalogue showrooms. 
C) discount houses. 
D) syndicated sellers. 
E) product line retailers.

Question 9

The owner of Fiama Electric overheard the manager of a competing firm discussing his new exclusive distribution strategy.You explain to him that this strategy requires

Accepted Answer

A) distributing the product through as many warehouses and retailers as possible,thereby excluding no one. 
B) distributing using a limited number of outlets for a product. 
C) only one trucking firm being given the exclusive transportation contract to deliver the products. 
D) a firm selecting only those wholesalers and retailers who will give exclusive attention to their product. 
E) the manufacturer granting the right to distribute and sell the product to only one wholesaler or retailer in an area. 
A) distributing the product through as many warehouses and retailers as possible,thereby excluding no one. 
B) distributing using a limited number of outlets for a product. 
C) only one trucking firm being given the exclusive transportation contract to deliver the products. 
D) a firm selecting only those wholesalers and retailers who will give exclusive attention to their product. 
E) the manufacturer granting the right to distribute and sell the product to only one wholesaler or retailer in an area.

Question 10

It has been shown that a pull strategy is generally more effective than a push strategy because a pull strategy shows that consumers want the product.

Accepted Answer

A) True 
 B)False

Question 11

A wholesaler is

Accepted Answer

A) the combination of distribution channels by which a firm gets its products to end users. 
B) an intermediary who sells products to other businesses for resale to final consumers. 
C) an individual or firm that helps to distribute a product. 
D) a network of independent companies through which a product passes from producer to end user. 
E) an intermediary who sells products directly to consumers. 
A) the combination of distribution channels by which a firm gets its products to end users. 
B) an intermediary who sells products to other businesses for resale to final consumers. 
C) an individual or firm that helps to distribute a product. 
D) a network of independent companies through which a product passes from producer to end user. 
E) an intermediary who sells products directly to consumers.

Question 12

Makers of industrial products most often use a push strategy,while makers of consumer products often use a push strategy.

Accepted Answer

A) True 
 B)False

Question 13

What is the ultimate objective of any type of promotion?

Accepted Answer

A) Image enhancement 
B) Creative selling 
C) To increase sales 
D) To advertise 
E) To increase consumer knowledge of the product 
A) Image enhancement 
B) Creative selling 
C) To increase sales 
D) To advertise 
E) To increase consumer knowledge of the product

Question 14

List three types of intermediaries.

Accepted Answer

Wholesaler

Question 15

Identify the two most common pricing objectives.

Accepted Answer

Profit max

Question 16

A corporation which has an objective of achieving a high market share will almost always have a second objective to maximize profits.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following best characterizes the difference between the roles of advertising and personal selling in the promotional mix of a firm?

Accepted Answer

A) Advertising is,at its worst,very expensive with little return,whereas personal selling is also very expensive,at its worst,but with better returns. 
B) Advertising,at its best,targets a specific audience about a product,whereas personal selling,at its best,is always dependent on the clients that a seller has. 
C) Advertising involves public relations with the overall population of consumers,whereas personal selling involves personalized relationships with select individuals. 
D) Advertising is a relatively new method of promotion,whereas personal selling is the oldest method of promotion. 
E) Advertising is non-personal in its communication about a product,whereas personal selling is highly individualized. 
A) Advertising is,at its worst,very expensive with little return,whereas personal selling is also very expensive,at its worst,but with better returns. 
B) Advertising,at its best,targets a specific audience about a product,whereas personal selling,at its best,is always dependent on the clients that a seller has. 
C) Advertising involves public relations with the overall population of consumers,whereas personal selling involves personalized relationships with select individuals. 
D) Advertising is a relatively new method of promotion,whereas personal selling is the oldest method of promotion. 
E) Advertising is non-personal in its communication about a product,whereas personal selling is highly individualized.

Question 18

Online retail sales in Canada are predicted to be approximately ________ in 2019.

Accepted Answer

A) $10 billion 
B) $12 billion 
C) $18 billion 
D) $29 billion 
E) $50 billion 
A) $10 billion 
B) $12 billion 
C) $18 billion 
D) $29 billion 
E) $50 billion

Question 19

Why might a company adopt a pricing objective other than profit maximization?

Accepted Answer

Sometimes a firm may value establishing

Question 20

Most large and successful companies do not have a department to manage their relations with the public since they already have a positive company image.

Accepted Answer

A) True 
 B)False

The amount added to a product's cost to meet profit targets is usually expressed as a percentage of

A pricing tactic that takes advantage of the fact that consumers do not always respond rationally to stated prices is called psychological pricing.

A wholesaler is an intermediary that sells products to other businesses for resale to final consumers.

Which of the following describes best what distinguishes publicity among all other forms of promotion?

A highly successful bakery specializes in making cherry pie.Which of the following costs at the bakery is not variable?

This communications vehicle is highly segmented,allows for excellent visual communication,and is long-lived,but requires a long lead-time.

Department stores,supermarkets,and specialty stores are all

The owner of Fiama Electric overheard the manager of a competing firm discussing his new exclusive distribution strategy.You explain to him that this strategy requires

It has been shown that a pull strategy is generally more effective than a push strategy because a pull strategy shows that consumers want the product.

A wholesaler is

Makers of industrial products most often use a push strategy,while makers of consumer products often use a push strategy.

What is the ultimate objective of any type of promotion?

List three types of intermediaries.

Identify the two most common pricing objectives.

A corporation which has an objective of achieving a high market share will almost always have a second objective to maximize profits.

Which of the following best characterizes the difference between the roles of advertising and personal selling in the promotional mix of a firm?

Online retail sales in Canada are predicted to be approximately ________ in 2019.

Why might a company adopt a pricing objective other than profit maximization?

Most large and successful companies do not have a department to manage their relations with the public since they already have a positive company image.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 13: Pricing,promoting,and Distributing Products

The amount added to a product's cost to meet profit targets is usually expressed as a percentage of

A pricing tactic that takes advantage of the fact that consumers do not always respond rationally to stated prices is called psychological pricing.

A wholesaler is an intermediary that sells products to other businesses for resale to final consumers.

Which of the following describes best what distinguishes publicity among all other forms of promotion?

A highly successful bakery specializes in making cherry pie.Which of the following costs at the bakery is not variable?

This communications vehicle is highly segmented,allows for excellent visual communication,and is long-lived,but requires a long lead-time.

Department stores,supermarkets,and specialty stores are all

The owner of Fiama Electric overheard the manager of a competing firm discussing his new exclusive distribution strategy.You explain to him that this strategy requires

It has been shown that a pull strategy is generally more effective than a push strategy because a pull strategy shows that consumers want the product.

A wholesaler is

Makers of industrial products most often use a push strategy,while makers of consumer products often use a push strategy.

What is the ultimate objective of any type of promotion?

List three types of intermediaries.

Identify the two most common pricing objectives.

A corporation which has an objective of achieving a high market share will almost always have a second objective to maximize profits.

Which of the following best characterizes the difference between the roles of advertising and personal selling in the promotional mix of a firm?

Online retail sales in Canada are predicted to be approximately ________ in 2019.

Why might a company adopt a pricing objective other than profit maximization?

Most large and successful companies do not have a department to manage their relations with the public since they already have a positive company image.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Money and Banking

Financial Decisions and Risk Management

Filters