Exam 18: Ethical Marketing in a Consumer-Oriented World: Appraisal and Challe

Use the following information to answer question that refer to the Jewel Craft case. Jewel Craft, Inc. is a leading producer in the United States' women's costume jewelry and accessories market. Its brands are well known and are sold by department stores and better women's stores. Several stores in a city may carry Jewel Craft's brands because most of Jewel Craft's customers will not consider any other brand. Jewel Craft's sales force calls on one wholesaler in each state. Gemco, Inc., of Boston, Massachusetts, is the Jewel Craft distributor in that state. Gemco stocks and sells women's accessories (noncompeting lines) for several manufacturers like Jewel Craft. Wholesalers are allowed a 20 percent markup by Jewel Craft-but pay the freight charges to their warehouses. Jewel Craft's policy of using one wholesaler per state comes from its desire to control its distribution. Jewel Craft uses national magazine advertising and also supports a cooperative ad program with retailers. Jewel Craft's prices allow for a 40 percent retail markup-an attractive percent when one considers that Jewel Craft's products require little in-store selling because of their well-established reputation. Recently, Jewel Craft was approached by a watch producer with the idea of expanding to watches under the Jewel Craft name. It was argued that although national watch sales have leveled off, Jewel Craft could enjoy growing sales for several years because of the fine reputation the company has achieved. If watches are added, Jewel Craft will use its present policies regarding distribution, pricing, and advertising. Further, it will offer the wholesalers and retailers an attractive "package" deal as an incentive to carry Jewel Craft watches. Intermediaries will be required to carry the watches if they wish to handle the jewelry and accessories. Jewel Craft's selling price for an item that retails for $10 would be:

A national restaurant chain encourages its customers to use its website as a means of providing comments about their experiences at the chain's locations. This website is one way of measuring:

Which of the 4Ps in the marketing mix is most directly related to deciding who pays for the shipment of purchased products in a B2B transaction?

Which of the following area does not relate to "Place" in the Four Ps?

A marketing manager who is willing to spend enough on persuasive promotion can usually get consumers to buy anything the company chooses to produce.

The basic objective of the U.S. market-directed economic system is to:

A S.W.O.T. analysis

Evaluating marketing effectiveness of an individual firm is difficult, but not impossible.

Blending the four Ps is easy since fully understanding the needs and attitudes of a target market is a straightforward process.

According to the text:

Environmental problems pose a major hazard to society and they are a particular threat to many firms working in the environmental engineering and management industry.

Improving both micro-marketing and macro-marketing may require:

Use the following information to answer the following question that refer to the Sure Foot case. Sure Foot, Ltd. produces high-quality shoes and boots for serious hikers. Sure Foot's shoes have suggested retail prices ranging from just under $40 to about $150. Usually, the retailer buys the shoes for about 50 percent less than the list price, and the retailer pays the freight charges from Sure Foot's plant in Maine. Sure Foot's credit terms are 2/10, net 30. Although Sure Foot's brand appears on every shoe-the firm does very little mass selling, except for a limited program of cooperative advertising and some sales promotion at walking events. Sure Foot's shoes are carried by "better" sporting goods stores all across the nation-although usually in fairly small quantities. Its main showroom is in Boston, where two salaried salespeople handle most of the firm's large accounts. Sure Foot's products are also sold by seven independent "field reps" who are paid a 5 percent commission on all sales. Each of these field reps is responsible for a several state territory-emphasizing mostly the small stores in or near major cities. The field reps carry Sure Foot's products as a minor line-but none of their lines are competitive with each other. The walking shoe market is supplied by 7 large firms and 50 or more smaller firms. While these firms are competitive, they do vary their materials, styles, prices, and promotion. The "high-quality" market is supplied by only 5 firms-Sure Foot being the largest. While these firms are also competitive, they generally offer a more limited assortment of materials, styles, and prices because the "high-quality" part of the market is not as large-and does not appear to be growing any more. "Credit terms" of 2/10, net 30 mean that Sure Foot is offering customers a:

A S.W.O.T. analysis is not necessary if the firm is considering entering an established market that is already served by competitors.

When evaluating macro-marketing:

A measure of overall consumer satisfaction in the United States, created by researchers at the University Michigan, and called the ________________________ is based on the results of regular interviews with thousands of customers.

Monopolistic competition-which is typical in our market-directed economy-is caused by:

A marketing plan should contain specific information like costs and sales forecasts, but not background information about customers, competitors, or the company's resources.

A S.W.O.T. analysis can help a marketing manager:

The basic objective of the U.S. market-directed economic system is to: