Exam 14: Creating Marketing Strategies

In traditional mass-market manufacturing,production begins when forecasts call for additional products to be made or inventory control systems signal low inventory levels.

The owner of Mercury Appraisal Company held a ribbon-cutting event when he opened his new business.He invited city dignitaries,representatives from news media,and anyone who might have need of his services.The presence of news representatives,whom he hoped would cover the event in their respective media,was an attempt to use which of the following elements of the promotional mix?

Which of the following is the act of informing,persuading,and reminding the target market about a product?

Pricing products below the normal markup or even below cost to attract customers is called leader pricing.

A person who works as a sales representative for a manufacturer or wholesaler and gets paid a commission on any sales is known as which of the following?

What six criteria do distribution managers use to choose a mode of transportation for shipping products?

What are expense items that have undergone little or no processing and are used in the manufacture of end products?

The process of packing 24 rolls of double-ply toilet tissue in super-sized packages such as those sold at Superstore and Costco is an example of which of the following functions?

Product contribution refers to the production of a product for as long as the revenue from selling it exceeds the cost of producing it.

Jay DuClerc has decided to buy a new Porsche.Since there are no Porsche dealers in his community,he must travel almost 200 kilometres to find a Porsche dealer to purchase the car of his dreams.For DuClerc,a Porsche is which of the following?

Which of the following is the most accessible method of shipping?

What is a product for which consumers may search long and hard and for which they refuse to accept substitutes?

Which of the following is an example of a variable cost for Big Bob's cream store?

Which of the following business products would be considered an accessory in a supermarket?

Which of the following is an example of a capital product that would be found in a brewery?

A company in Nova Scotia builds portable drilling platforms used to locate new oil fields underwater.To build a platform,the company had to construct a specially designed dock with a large permanently placed crane able to lift a 20 tonne structure onto its floating base.This expensive dock and crane are examples of which of the following?

Which of the following products would be correctly described as being in the decline stage of their product life cycle?

Which of the following is the production of a good or service for which the revenue from selling it exceeds the cost of producing it?

The process that products go through as they pass through their introduction,growth,maturity,and decline stages is called which of the following?

Which one of the following situations best demonstrates an advantage of price skimming?