Deck 12: Dimensions of Marketing Strategy

Question 1

Penetration pricing is less flexible than price skimming.

Answer 1

True

Question 2

The perceived value of a product by consumers is an important consideration when pricing that product.

Answer 2

True

Question 3

_____ is the full introduction of a complete marketing strategy and the launch of a product.

A)Idea development
B)Product development
C)Commercialization
D)Test marketing
E)Idea screening

Answer 3

C

Question 4

Advertising is direct,two-way communication with buyers and potential buyers.

Question 5

Industrial products such as lumber,cotton,and iron ore are classified as:

A)major equipment.
B)supplies.
C)accessory equipment.
D)raw materials.
E)component parts.

Question 6

During the _____ stage of the product development process,a firm gears up for full-scale production,distribution,and promotion of its products.

A)idea development
B)commercialization
C)product development
D)test marketing
E)idea screening

Question 7

Profits are negative in the growth stage of the product life cycle.

Question 8

Sporting goods are an example of:

A)convenience products.
B)shopping products.
C)specialty products.
D)generic products.
E)difficult-to-obtain products.

Question 9

A light bulb used to provide light for workers on an assembly line would be classified as a _____.

A)specialty product
B)technical product
C)business product
D)convenience product
E)consumer product

Question 10

Magazines located next to the checkout counter at a grocery store would probably be classified as:

A)shopping products.
B)convenience products.
C)processed materials.
D)specialty products.
E)accessory equipment.

Question 11

Which of the following stages of the product development process assesses a product's compatibility in the market?

A)Idea development
B)Business analysis
C)Test marketing
D)Commercialization
E)Idea screening

Question 12

Ethnic foods are an example of:

A)convenience products.
B)shopping products.
C)specialty products.
D)generic products.
E)difficult-to-obtain products.

Question 13

A gallon of milk is an example of a:

A)convenience product.
B)shopping product.
C)specialty product.
D)generic product.
E)difficult-to-obtain product.

Question 14

Which is the stage in the product development process where most new product ideas are rejected because they seem inappropriate for an organization?

A)Idea development
B)Business analysis
C)Test marketing
D)Product development
E)Idea screening

Question 15

Distribution channels for consumer products and business products are the same.

Question 16

Products such as furniture,audio equipment,bicycles,and clothing are generally classified as:

A)convenience products.
B)specialty products.
C)capital products.
D)luxury products.
E)shopping products.

Question 17

Sun Dane Inc.,a tire manufacturing company,is in the process of developing a new product.Its R&D team has shortlisted the idea of a tire fitted with a sheet to keep off dirt.It is in the process of transforming the idea into an actual model.Sun Dane is currently in the _____ stage.

A)idea development
B)business analysis
C)test marketing
D)commercialization
E)product development

Question 18

If a nationwide sandwich shop chain introduces a new sandwich in the Midwest to try out its marketing strategy before offering the product across the country,it is in the _____ stage of the product development process.

A)idea screening
B)commercialization
C)concept testing
D)business analysis
E)test marketing

Question 19

_____ is a trial mini-launch of a product in limited areas that represent the potential market.

A)Idea screening
B)Test marketing
C)Concept testing
D)Business analysis
E)Commercialization

Question 20

Before introducing a new product,a prototype is created at the _____ stage.

A)idea development
B)product commercialization
C)test marketing
D)product development
E)idea generation

Question 21

7-UP,Cherry 7-UP Antioxidant,and Diet 7-UP are products in Dr.Pepper Snapple Group's:

A)7-UP product line.
B)7-UP marketing mix.
C)7-UP product position.
D)7-UP product width.
E)7-UP product innovation.

Question 22

Which of the following elements is the most flexible variable in the marketing mix?

A)Product
B)Production
C)Distribution
D)Promotion
E)Price

Question 23

Which of the following is an appropriate strategy for products at the decline stage of the product cycle?

A)Phasing out products
B)Manufacturing more products
C)Increasing marketing budget
D)Spending money on research
E)Emphasizing products' benefits

Question 24

Which key element of the marketing mix directly relates to the generation of revenue and profits?

A)Product
B)Distribution
C)Place
D)Promotion
E)Price

Question 25

If a product is experiencing negative profits and the company is spending a great deal of money on advertising to make consumers aware of the product,the product is most likely in the _____ stage of the product life cycle.

A)growth
B)decline
C)introductory
D)maturity
E)intermediate

Question 26

The financial value placed on an object involved in an exchange between a buyer and a seller is known as its:

A)price.
B)discount.
C)comparable value.
D)negotiated value.
E)nominal value.

Question 27

Varnish is an example of:

A)major equipment.
B)office supplies.
C)accessory equipment.
D)processed material.
E)raw material.

Question 28

A _____ is all the products offered by an organization.

A)product line
B)product group
C)product mix
D)product width
E)product list

Question 29

Which of the following activities is associated with identifying products?

A)Marketing
B)Producing
C)Branding
D)Distributing
E)Pricing

Question 30

A _____ is a brand that is legally protected from use by any other firm.

A)brand mark
B)trademark
C)manufacturer's brand
D)generic brand
E)private-label brand

Question 31

Peanut butter is an example of a:

A)generic product.
B)private distributor brand.
C)shopping product.
D)brand name.
E)specialty product.

Question 32

Diet Coke is a:

A)generic brand.
B)private distributor brand.
C)shopping product.
D)brand name.
E)specialty product.

Question 33

During the _____ stage of the product cycle,a firm tries to strengthen its position in the market by emphasizing the product's benefits and identifying market segments that want these benefits.

A)growth
B)decline
C)introductory
D)maturity
E)intermediate

Question 34

During the _____ stage of the product life cycle,a product's profits peak and then start to decline.

A)death
B)decline
C)maturity
D)growth
E)introductory

Question 35

Tires are an example of:

A)major equipment.
B)component parts.
C)accessory equipment.
D)processed materials.
E)raw materials.

Question 36

Private distributor brands:

A)are identified by a manufacturer from the point of production to the point of purchase.
B)are used to reduce the efficiency of production.
C)are owned and controlled by a wholesaler or retailer.
D)are owned and controlled by a manufacturer.
E)are characterized by the absence of a brand name.

Question 37

The _____ reflects the degree to which a good,service,or idea meets the demands and requirements of customers.

A)brand name
B)product packaging
C)product labeling
D)product quality
E)brand mark

Question 38

Earth-moving equipment,stamping machines,and robotic equipment used on auto assembly lines are examples of:

A)major equipment.
B)supplies.
C)accessory equipment.
D)industrial services.
E)component parts.

Question 39

If a company is eliminating certain models of a product and cutting back on expenditures,the product is most likely in the _____ stage of the product life cycle.

A)growth
B)intermediate
C)introductory
D)decline
E)maturity

Question 40

Which stage of the product cycle is characterized by severe competition and heavy expenditures?

A)Growth
B)Intermediate
C)Introductory
D)Decline
E)Maturity

Question 41

An example of a product distributed from the producer to the consumers through the retailer is:

A)a chair from a company.
B)an automobile.
C)office supplies for use at a business.
D)soft drinks.
E)candy.

Question 42

Because consumers associate a drug's price with potency,some pharmaceutical companies use the _____ strategy to price their over-the-counter drugs.

A)penetration pricing
B)even/odd pricing
C)symbolic/prestige pricing
D)discounting
E)price dipping

Question 43

If a company sells one of its products for $9.99 rather than $10,it is using:

A)price skimming.
B)penetration pricing.
C)odd pricing.
D)rational pricing.
E)discount pricing.

Question 44

Dynamix Computers initially charged a low price for its new computer and then raised the price after gaining a large market share.Which of the following pricing strategies did Dynamix Computers use in this scenario?

A)Prestige pricing
B)Symbolic pricing
C)Psychological pricing
D)Price skimming
E)Penetration pricing

Question 45

Which of the following types of consumer marketing channel is used for the distribution of products like refrigerators,televisions,soft drinks,cigarettes,clocks,watches,and office products?

A)Channel A
B)Channel D
C)Channel C
D)Channel B
E)Channel E

Question 46

_____ encourages consumers to make purchases based on emotion rather than rational considerations about the price.

A)Price skimming
B)Discount Pricing
C)Penetration pricing
D)Seasonal discount pricing
E)Psychological pricing

Question 47

If a company buys televisions from a manufacturer and then sells them to department stores,it is most probably a _____.

A)retailer
B)producer
C)consumer
D)wholesaler
E)marketer

Question 48

LCG Inc.,a mobile manufacturing company,is launching its new product in the market.The managers at LCG want to price the product in a way that would enable the company to recover the investments made toward developing the product.Which pricing strategy would be most effective for LCG Inc.?

A)Price skimming
B)Price comparing
C)Odd pricing
D)Reference pricing
E)Price discounting

Question 49

Farmers who sell their fruit and vegetables to consumers at roadside stands or farmer's markets use a _____ consumer marketing channel.

A)Channel A
B)Channel B
C)Channel C
D)Channel D
E)Channel E

Question 50

If a company's goal is to develop an image of having high-quality luxury products,it should employ a(n):

A)penetration pricing strategy.
B)price discounting strategy.
C)even/odd pricing strategy.
D)prestige pricing strategy.
E)inclusive pricing strategy.

Question 51

47 Avenue buys shoes for men,women,and children from a large producer and sells them directly to end users.In this scenario,47 Avenue is a _____.

A)manufacturer
B)retailer
C)financier
D)wholesaler
E)customer

Question 52

The pricing policy that allows a company to generate much-needed revenue to help offset the costs of research and development is known as:

A)penetration pricing.
B)price discounting.
C)psychological pricing.
D)price skimming.
E)emotional pricing.

Question 53

Gucci bags often run into thousands of dollars.What kind of a pricing strategy is used by the company?

A)Penetration pricing
B)Reference pricing
C)Price skimming
D)Price discounting
E)Price dipping

Question 54

Mocha Café initially charged a low price for its cuisine and then raised the price after gaining a large market share.Which of the following pricing strategies did Mocha Café use in this scenario?

A)Prestige pricing
B)Penetration pricing
C)Odd pricing
D)Price skimming
E)Even pricing

Question 55

Which of the following is typically related to pricing new products?

A)Reference pricing
B)Price comparing
C)Odd pricing
D)Penetration pricing
E)Price discounting

Question 56

If a cosmetics company is selling an eye shadow priced at $11.99 rather than $12,it is using:

A)price skimming.
B)penetration pricing.
C)psychological pricing.
D)rational pricing.
E)discount pricing.

Question 57

Which of the following types of consumer marketing channel is used for products such as college textbooks,automobiles,and appliances?

A)Channel A
B)Channel B
C)Channel C
D)Channel D
E)Channel E

Question 58

Many consumers associate high prices with high quality.In view of this assumption,some of the cosmetics companies use the _____ strategy to price their products.

A)penetration pricing
B)even/odd pricing
C)price dipping
D)discounting
E)symbolic/prestige pricing

Question 59

Services are usually distributed through _____ marketing channels.

A)Channel B
B)Channel E
C)Channel D
D)Channel C
E)Channel A

Question 60

When a company sets a low price for a new product to discourage competition from entering the market,it is using the _____ strategy.

A)even/odd pricing
B)price skimming
C)psychological pricing
D)penetration pricing
E)symbolic pricing

Question 61

_____ is used most often for products that consumers buy only after shopping and comparing price,quality,and style.

A)Selective distribution
B)Intensive distribution
C)Relaxed distribution
D)Exclusive distribution
E)Sporadic distribution

Question 62

_____ are specifically noted for their flexibility in terms of reachability and packaging requirements for transporting products.

A)Pipelines
B)Airplanes
C)Trucks
D)Railroads
E)Ships

Question 63

Which of the following promotion mix variables is best for promoting expensive products with specialized uses,such as houses?

A)Publicity
B)Advertising
C)Personal selling
D)Sales promotion
E)Packaging

Question 64

The intensity of market coverage depends on the:

A)product.
B)place.
C)price.
D)buyer behavior.
E)marketing intermediaries.

Question 65

Which of the following distribution channels would most likely be used for fruits and vegetables sold at a roadside stand or farmer's markets?

A)Agent to wholesaler to retailer
B)Producer to consumer
C)Retailer to consumer
D)Merchant to wholesaler
E)Middleman to producer

Question 66

Inventory control,transportation,and warehousing are all examples of activities of:

A)commercialization.
B)operationalization.
C)physical distribution.
D)Channel D marketing.
E)departmentalization.

Question 67

Which of the following is an element of the promotion mix?

A)Product
B)Distribution
C)Place
D)Publicity
E)Price

Question 68

High-quality items such as musical instruments,sailboats,and airplanes will most likely use _____.

A)selective distribution
B)intensive distribution
C)relaxed distribution
D)exclusive distribution
E)sporadic distribution

Question 69

_____ is a variation of traditional advertising in which marketers attempt to create a trend or acceptance of a product.

A)Publicity
B)Buzz marketing
C)Personal selling
D)Sales promotion
E)Packaging

Question 70

When Viera,an automobile company,pays a television network to air its commercial,it is using:

A)publicity.
B)advertising.
C)personal selling.
D)sales promotion.
E)packaging.

Question 71

Convenience products such as bread,milk,and chewing gum would probably be distributed:

A)selectively.
B)intensively.
C)weakly.
D)exclusively.
E)sporadically.

Question 72

_____ creates time and place utility by making products available when they are wanted,with adequate service and at minimum cost.

A)Commercialization
B)Operationalization
C)Physical distribution
D)Selective distribution
E)Departmentalization

Question 73

_____ makes a product available in as many outlets as possible.

A)Selective distribution
B)Intensive distribution
C)Relaxed distribution
D)Exclusive distribution
E)Sporadic distribution

Question 74

Which of the following modes of transportation offers speed and a high degree of dependability but is the most expensive?

A)Railroads
B)Trucking
C)Air transport
D)Shipping
E)Pipelines

Question 75

_____ exists when a manufacturer gives an intermediary the sole right to sell a product in a defined geographic territory.

A)Exclusive distribution
B)Intensive distribution
C)Relaxed distribution
D)Selective distribution
E)Sporadic distribution

Question 76

Selective distribution:

A)combines planned distribution systems under one management.
B)makes a product available in as many outlets as possible.
C)gives a middleman the sole right to sell a product in a defined geographic territory.
D)uses only a small proportion of all available outlets to expose products.
E)works best for the distribution of convenience products.

Question 77

As services are generally produced and consumed simultaneously,they are usually distributed through:

A)direct marketing channels.
B)indirect channels.
C)a wholesaler.
D)an agent.
E)a retailer and a wholesaler.

Question 78

The process of coordinating the promotion mix elements and synchronizing promotion as a unified effort is known as _____.

A)integrated marketing communications
B)assimilated promotion
C)unified advertising campaign
D)cohesive marketing strategy
E)test marketing campaign

Question 79

Which of the following activities is most closely associated with warehousing?

A)Marketing
B)Producing
C)Branding
D)Distributing
E)Pricing

Question 80

The role of _____ is to communicate with individuals,groups,and organizations to facilitate an exchange directly or indirectly.

A)branding
B)promotion
C)pricing
D)distribution
E)merchandising