Marketing I - Obj. 3.00 Review

Question 1

A business is behaving unethically if its product's labels contains what component?

Accepted Answer

Misleading information

Question 2

What makes it possible for driver's to determine exact location & obtain accurate directions?

Accepted Answer

Global positioning system (GPS)

Question 3

Why is the quality level of a product an important P/S Mgt. decision?

Accepted Answer

Reflects the image of the business

Question 4

A biz that says they try harder b/c the product is not #1, they are using product positioning?

Accepted Answer

To COMPETE

Question 5

Pen company claims their pen changes colors when exposed to light. What positioning strategy?

Accepted Answer

Unique Characteristics

Question 6

Which is the advantage to a business of using bar-code pricing?

Accepted Answer

Easier to change prices

Question 7

What do marketers want to achieve by determining distribution intensity?

Accepted Answer

Ideal Market Exposure

Question 8

Which would probably use a longer channel of distribution?

Accepted Answer

A bottle of shampoo

Question 9

Which state of brand loyalty do people become aware of the brand?

Accepted Answer

Recognition

Question 10

Which factors should businesses consider when establishing the selling price of a product?

Accepted Answer

Economic Conditions

Question 11

Best strategy to use when sales level off b/c customers are purchasing the competitor's brand?

Accepted Answer

Modify the product to renew customer interest

Question 12

An external factor that affects the price that a business charges for its products?

Accepted Answer

Economic conditions

Question 13

If a business's customers feel that they are not getting the most value for their money, what?

Accepted Answer

Customers will spend money elsewhere

Question 14

Tech allows manufacturers to preprint product pkg w/Universal Product Codes (UPCs). Which info?

Accepted Answer

Pricing

Question 15

Which pricing tactic might be considered questionable by businesses?

Accepted Answer

Developing a complex pricing stucture

Question 16

Price-fixing & monopolistic control in various industries contributed to the enactment of what?

Accepted Answer

Sherman Antitrust Act

Question 17

Which channel is used to reach lrg. retailers when producer does not want resp. for selling?

Accepted Answer

Producer-Agent-Retailer-Consumer

Question 18

Which technological tools help employees simultaneously access the same info about products?

Accepted Answer

Intranet

Question 19

Which demonstrates use of satellite tracking w/in distribution channel?

Accepted Answer

Having current knowledge of delivery truck's location & dest

Question 20

Why might profits decline for the co. that 1st introduced the product during the growth stage?

Accepted Answer

B/C competitors have entered the market

Question 21

Which is an aspect of channel management that impacts customer service?

Accepted Answer

Timeliness

Question 22

Brand or trade names are used primarily to identify which component?

Accepted Answer

The Product

Question 23

When is it best for a business to use an exclusive distribution pattern?

Accepted Answer

Needs to maintain tight control over a product

Question 24

Why do companies use brands for their products?

Accepted Answer

To differentiate their products

Question 25

Charging a smaller co. a higher price than it charges a larger co for the same product is ???

Accepted Answer

Price Discrimination

Question 26

One way that many biz use tech to reduce the cost associated w/marking pricing on products is?

Accepted Answer

Computer Generated Tags

Question 27

WalMart & Sears attract 2 diff. types of customers b/c of pricing strategies. Prices are based?

Accepted Answer

Customer

Question 28

Why does a company need to know the life-cycle stages of its products?

Accepted Answer

To adapt its marketing strategies

Question 29

Which is an ex of an ethical issue that a product or service manager might face?

Accepted Answer

Use of environmentally friendly pkg.

Question 30

What is an example of an ethical issue as it relates to predatory pricing?

Accepted Answer

Pricing menu items below cost to eliminate competition

Question 31

Which action customer service can take to facilitate the ordering process?

Accepted Answer

Communicate effectively

Question 32

What technologically advanced method allows biz to produce products specialized for few cust?

Accepted Answer

Mass Customization

Question 33

Which costs do businesses usually include in the prices of their products?

Accepted Answer

Transportation

Question 34

Which is an example of an unethical pricing practice?

Accepted Answer

Setting prices low in attempt to drive competition out

Question 35

Which activity is addressed in the product-service mgt. function?

Accepted Answer

Eliminating products that are slow sellers

Question 36

Which is one way businesses use computer technology to obtain info to improve their PS Mix?

Accepted Answer

By tracking visitors to their websites

Question 37

Which is an unethical situation in product-service management?

Accepted Answer

Embellishing information that it place on its product lables

Question 38

How does tech help biz when it enables them to obtain & analyze info impacting pricing?

Accepted Answer

Determining the best time to adjust prices

Question 39

Which is a way that business can extend the life cycle of an established product?

Accepted Answer

By finding new uses for the product

Question 40

What is the most appropriate pricing strategy for a biz in a sm. town with high unemployment?

Accepted Answer

Flexible Pricing

Question 41

Charging premium prices for lumber to hurricane victims b/c supply is limited, is what?

Accepted Answer

Unethical & Legal

Question 42

Why would a business use a broad product mix?

Accepted Answer

To promote one-stop shopping

Question 43

Why should a business continue to monitor an established product?

Accepted Answer

To make changes in order to extend a product's life cycle

Question 44

ADVANTAGE to use the producer to wholesaler to retailer to consumer distribution channel is?

Accepted Answer

Wholesalers usually buy in large quantities

Question 45

Which is a reason that a business would make changes to its products?

Accepted Answer

To keep up with changing consumer preferences

Question 46

A drawback of brands compared to unbranded products is that which action happens?

Accepted Answer

Sell of products at higher prices

Question 47

Company advertising its product is durable, lightweight & in variety of colors. What strategy?

Accepted Answer

Features & Benefits

Question 48

How do channel members add value to the product?

Accepted Answer

By performing certain channel activities expertly

Question 49

Why do some new companies set their selling prices as low as they can?

Accepted Answer

To get market share as fast as possible

Question 50

Which statement is TRUE about technology in relation to channel mgt?

Accepted Answer

Capacity to distribute products through Internet

Question 51

Which situation hinders a business's ability to provided quality customer service?

Accepted Answer

Vendor consistently has back orders

Question 52

Companies deciding to sell their products for the same price, what unethical practice is this?

Accepted Answer

Price-Fixing

Question 53

Product wrapping that promotes preservation of endangered animals, what is it engaging in?

Accepted Answer

Cause packaging

Marketing I - Obj. 3.00 Review

Questions 53

Marketing I - Obj. 3.00 Review

Questions 53