Exam 12: Pricing, Distributing, and Promoting Products

Gifts such as pens,pencils,coffee mugs,given for buying a product are examples of ________.

Most wholesalers are independent operations that buy products from manufacturers and sell them to various consumers or other businesses.

To grab customers' attention in stores,companies use trade shows.

Most business goods are distributed directly from the manufacturer to the user.

List and describe the three personal selling tasks.

Short Case Scenario 13-1 Bill Chung is the recently appointed Vice President of Information Systems for Worldwide Corporation. This is a newly created position. Bill joins the preexisting management team of Vice Presidents for Operations, Finance, and Marketing. Bill is determined to make himself useful and to improve the way Worldwide does business. Very quickly, Bill observes that Worldwide has collected rooms full of data but rarely use it to make decisions. During his first week of work, he comments to the company's president, Cindy Stevens, that the company has plenty of data but very little information. Cindy looks puzzled. -How can Worldwide benefit from enterprise resource planning (ERP)?

A distribution channel is ________.

What is the difference between data and information?

Describe a situation in which a company might adopt a pricing objective other than profit maximization.

Explain the principle of mass-customization.

Electronic commerce (e-commerce)is popular with consumers but has hurt productivity.

Short Case Scenario 12-1 Bill and Farrah have been recently hired by Superior Stereo Systems, a cutting-edge manufacturer of stereo speakers. Both Bill and Farrah have been assigned to work on two product teams, the Superior V, an existing product, and the Superior VI, a brand new speaker technology. The Super V is reviewing the pricing strategy used to this point. Bill, a recent graduate with a degree in economics, is insistent that they should price the speakers to maximize profits. He explains, "It is basic economics-companies price their products to maximize products. There's no question-this is the strategy that we should take." Farrah, remembering what she learned in her marketing courses, isn't so sure that Bill is on the right track. The technical specifications of the Superior VI speakers have been worked out, but the team is struggling with pricing. Some members of the group think that the speakers should be priced higher than the Superior V, while others are arguing for a lower price. -In the past,Superior has sold all speakers directly to retailers.They were recently approached by a wholesaler who would like to carry their line of products.Why might they wish to use a wholesaler rather than selling directly to retailers?

Many firms do not engage in publicity because the charges for such promotion are too high.

Over 85 percent of the world's online population have made purchases on the Internet.Which electronic retailer has outsold brick-and-mortar music retailers?

More than ________ computers make up the Internet as we know it today.

A distribution channel is the path that a product follows from producer to end user.

With fixed costs of $50,000 and a variable cost of $5,a $10 widget must sell at least 10,000 units to break even.

What is a firewall?

Because of information technology,few businesses coordinate activities from one centralized location.

Keyboards,monitors,and printers are types of ________.