At the breakeven point, a company

C. matches total costs and total revenues

studbud

Spring Final MKT '25

139 termsStudBud Administration

Imported from external platform

Flashcards139 cardsFPractice quizPHost liveL

Questions 139

Answers

1
If you lower the price of your product, you will sell a larger quantity of the product and always increase profit margin
False
True
2
Individuals or socially related groups who purchase products for personal consumption
consumer demand
consumer markets
consumer supply
3
Wholesaler, Distributor, Broker/agent
Wholesaler
Retailer
4
Credit offered by one business to another is
A. retail credit
D. illegal
B. trade credit
C. flexible pricing
5
It is likely that a product will be grouped into large units for
Display
Transportation
Selling
Promoting
6
companies advertise a low price & then tell customers the product is unavailable or inferior, this practice is known as
C. price discrimination
A. price fixing
B. unit pricing
D. bait and switch
7
Distribution has the most direct effect on
price utility
possession utility
time and place utility
form utility
8
Businesses that still complete most business activity other than the internet
brick-and click
brick-and-mortar
click-only
e-commerce
9
25. Distinct categories of prices based on differences in product quality and features
J. Skimming price
I. Price lines
G. Operating expenses
H. Penetration price
10
If sales increase, profits will increase as well.
False
True
11
In later stages of the life cycle, competition decreases with less emphasis on price competition.
True
False
12
The final business organization in an indirect channel of distribution for consumer products is
producer
wholesaler
manufacturer
retailer
13
10. What is the basic economic problem?
C. Scarcity
A. Discounts
D. Pricing
B. Shipping
14
New product is developed to meet company's objectives
design strategies
conduct market tests
gather information
15
Businesses can have problems if channel members do not follow the marketing plan
true
false
16
Quantity of a product/service needed by abusiness in order to operate at level consumers demand
direct demand
consumer demand
derived demand
17
Unprocessed products used as basic materials for products to be produced
supplies
component parts
raw materials
18
YouTube does an excellent job of providing a space for
user-generated content
sharing information
collaboration
trending
19
Price is an important tool for marketers because it can be changed more quickly than other marketing decisions.
True
False
20
When no one else owns, handles, or re-markets the good/service.
Direct channel
Indirect channel
21
The difference between the product cost and the selling price is known as an operating expense.
True
False
22
Wholesalers do not work with final _____ in any significant way
Consumers
Customers
23
Business's land, buildings & major pieces of equipment
capital supplies
capital equipment
operating equipment
24
Some large retailers don't work with wholesalers
true
false
25
Most important part of the product is the basic physical product
extended product
basic product
enhanced product
26
Smaller, less expensive items equipment used in the operation of a business
operating items
operating equipment
operating supplies
27
Many traditional businesses use the internet to complete business activities
True
False
28
21. De-emphasizes price with a unique offering that meets an important customer need
D. Markup
F. One-price policy
C. Markdown
E. Nonprice competition
29
Railroads are the most flexible of the major transportation methods.
true
false
30
The introduction of something new that makes a significant change or improvement
novelty
revolution
modernization
innovation
31
When products and services are exchanged, they move through a channel of ____
Customers
Members
Consumers
Distribution
32
Those who participate in the movement/ exchange of products from producer to final consumer are
channel of distribution
marketing matrix
economic system
supply chain
33
If a manufacturer doesn't have the space, it may use retailers who specialize in storage
False
True
34
Franchising- developer of a business idea sells the rights to the idea and the use of the name
true
false
35
All of the following are examples of non-store retailing except
buying a candy bar at a vending machine
ordering a book online from Amazon
buying Girl Scout cookies at your door
getting gas at the gas station
36
Twitter originally allowed users to send messages of up to _____ characters to other users who choose to follow them
210
500
1000
140
37
3. If sales increase, profits will always increase as well.
False
True
38
A(n) ___ channel of dist. includes other businesses between producer and consumer
Indirect
Direct
39
Wholesalers help ____ become aware of new products.
Risk
Retailers
Wholesale clubs
Consumers
40
The relationship between changes in a product’s price and the demand for that product is known as
A. equilibrium price
B. elasticity of demand
C. economic utility
D. price/demand ratio
41
The simplest marketing channel that consists of just 2 parties
Retailer and consumer
Producer and intermediary
Wholesaler and retailer
Producer and consumer
42
16. A reduction from the original selling price
D. Markup
E. Nonprice competition
C. Markdown
B. Elasticity of demand
43
For most, distribution activities account for over ___ percent of the total marketing costs
10
90
50
25
44
The number of Internet users worldwide in 2014 was approximately
3 billion
1 billion.
500 million.
5 billion
45
Indirect channels of distribution are used most often in the sale of consumer products
true
false
46
At the breakeven point, a company
C. matches total costs and total revenues
B. needs to increase its price
A. maximizes profits
D. suffers the greatest losses
47
Advanced procedures, techniques, and tools that replace physical labor are known as basic technology
True
False
48
Consumers value the brand to the extent that they reject other brands
insistence
recognition
preference
rejection
49
The sale through mail order catalogs once was popular, but it accounts for NO sales today
false
true
50
e-commerce includes all the activities involved in selling goods over the internet
False
True
51
Businesses engaged in e-commerce do not need to use marketing concept because they rarely meet their customers
True
False
52
23. Costs associated with business operations
I. Price lines
H. Penetration price
F. One-price policy
G. Operating expenses
53
Manufacturers usually make their profits from the sale of products and services to
transportation companies
wholesalers
marketers
final consumers
54
The type of competition a product faces changes throughout the stages of its life cycle.
True
False
55
________is a website where one person regularly posts commentary, descriptions, or other content in a journal format.
Blog
Virtual collaboration
Content community
Social network
56
A company can determine the minimum price by performing a breakeven analysis.
False
True
57
A wholesaler that concentrates on one or two important functions is a(n)
full-service wholesaler
agent
broker
limited service wholesaler
58
14. Distinct categories of prices based on differences in product quality and features are
C. geographic prices
D. discounts and allowances
A. skimming prices
B. price lines
59
11. The relationship between changes in a product’s price and the demand for that product is known as
A. equilibrium price
B. elasticity of demand
C. economic utility
D. price/demand ratio
60
1. The lowest price is always the best price for every customer
True
False
61
Initially, wholesale clubs targeted final consumers
False
True
62
Which element of the marketing mix is important to businesses using e-commerce?
all marketing mix elements are important
price
product
distribution
63
22. The quantity of a product that must be sold for total revenues to match total costs at a specific price
B. Elasticity of demand
A. Breakeven point
C. Markdown
D. Markup
64
Many manufacturers use multiple channels of distribution for the same product
False
True
65
Well-known name or symbol established by 1 company & sold for use by another company
enhanced brand
basic product
licensed brand
66
Products and materials consumed in the operation of a business
raw materials
supplies
component parts
67
Channels of dist. are usually made up of independent bus. that treat each other as ____
Consumers
Customers
68
Nonprice competition is more prevalent among luxury products and services targeted to very affluent (wealthy) consumers.
False
True
69
17. Relationship between changes in a product’s price and change in demand for that product.
D. Markup
A. Breakeven point
C. Markdown
B. Elasticity of demand
70
Added elements to basic products
enhanced product
basic product
extended product
71
Of the recent changes in wholesaling, among the most important are
broader customer service
improved technology
better communications and info
all of these
72
7. Coupons and rebates are examples of discounts and allowances used by businesses
False
True
73
19. A very high price designed to emphasize the quality or uniqueness of the product.
G. Operating expenses
H. Penetration price
J. Skimming price
I. Price lines
74
12. Harmful products (tobacco) are typically _________ to reduce consumption of the product
A. Taxed more heavily
D. Not taxed
B. Taxed less heavily
C. Taxed the same as other products
75
A channel of distribution must adjust differences in quantity between producer and consumer
true
false
76
Most wholesalers purchase from producers & manufacturers & then resell them to their customers
true
false
77
Price allocates available resources among people.
True
False
78
In a private enterprise economy, governments
A. encourage activities that benefit society
D. all of the above
B. determine product prices
C. prevent companies from growing
79
With zone pricing, different product or transportation costs are set for specific areas of the seller’s market.
True
False
80
Companies & organizations that purchase products for the operation of a business
business market
busyness market
business demand
81
Consumers view the brand as valuable & will choose it if it's available
rejection
recognition
insistence
preference
82
Quantity of a product or service needed to meet the needs of the consumer
demand curve
direct demand
derived demand
83
24. An amount added to the cost of a product to determine the selling price
E. Nonprice competition
C. Markdown
D. Markup
B. Elasticity of demand
84
In the US, it is illegal for two competing companies to agree on the amount they will charge for products or services.
True
False
85
large-scale virtual collaboration
internet webpage
blogs
social network
crowd-sourcing
86
When products gathered from many manufacturers made available in one location what is adjusted?
price
assortment
location
quantity
87
Consumers can recall the brand name but it has little influence on purchases
insistence
rejection
recognition
preference
88
18. All customers pay the same price
F. One-price policy
E. Nonprice competition
G. Operating expenses
H. Penetration price
89
Social media allow the receiver of the message or information to
comment on the information
all of the above
add to the information
share the information with friends
90
Anything offered to a market by a business to satisfy needs, services or ideas
priduct
product
prodoct
91
penetration price usually results in higher profits for the company but encourages other companies to enter the market.
True
False
92
The 2 parts of the logistics information system are order processing & inventory control
true
false
93
Distribution is what part of the 4 p's?
Product
Place
Price
Promotion
94
Technology that allows consumers to have conversations and share content that they have created
social media
software applications
socialability
networking
95
Wholesalers sell primarily to final consumers
False
True
96
Group of similar products with slight variations in the marketing mix
product line
product assortment
product category
97
4. A company that does not post prices with its product is trying to appeal to cost conscious customers.
True
False
98
High markups do not always mean that a business will make a larger profit on overall sales.
True
False
99
A manufacturer and the final consumer often meet to complete an exchange.
True
False
100
Distribution involves the locations and methods used to make the product available to customers
false
true
101
Gather & studying market information & use results to assist product planning
gather information
design strategies
conduct market tests
102
Either partially or totally processed by another company
component parts
raw materials
supplies
103
About what percentage of the U.S. population has Internet access?
just under half
about 85 percent
more than 90 percent
less than 15 percent
104
Products usually do not move continuously through the channel of distribution
true
false
105
The first step in physical distribution planning is
storing products in a warehouse
sending products to distribution center
packaging the products securely
deciding how to move products
106
_____________ is/are an amount added to the cost of a product to determine the selling price.
B. Gross margin
D. Net profit
C. Operating costs
A. Markup
107
Stand-alone stores are large and located in area where there are no other competing businesses
true
false
108
Consumers are unable to identify the brand
preference
rejection
insistence
non-recognition
109
13. The satisfaction a consumer gets from a product is
B. Breakeven point
A. Elasticity
D. None of these
C. Economic utility
110
Coupons and rebates are examples of discounts and allowances used by businesses.
False
True
111
Technology is the practical application of scientific knowledge
False
True
112
The major advantage of doing business on the internet is that companies have immediate access to prospective customers
True
False
113
A business can change the perception of the value of a product by
C. offering an incentive for making a purchase
D. all are correct
A. making additions to the purchase
B. offering a special deal such as “buy one, get one free”
114
Distinct categories of prices based on differences in product quality and features are
C. geographic prices
B. price lines
D. discounts and allowances
A. skimming prices
115
An unplanned channel of distribution makes the exchange process much easier and more efficient
true
false
116
Indep. businesses that give specialized exchange functions w/o taking title to products are
limited service wholesalers
wholesale cooperatives
full-service wholesalers
agents and brokers
117
Legal protection of the words or symbols for use by a company
slogan
copyright
logo
trademark
118
Wholesalers are companies that assist with ___ activities between businesses
Promotion
Selling
Transporting
Distribution
119
Distribution is an important part of increasing customer satisfaction.
True
False
120
“FOB factory” means manufacturer pays transportation costs from the point the product is made to location of customer
False
True
121
Most social media content is created by
a publisher.
an advertising firm.
a studio.
the audience.
122
Getting a haircut is an example of...
Wholesaler
Retailer
123
The easiest and least challenging part of marketing is distribution
true
false
124
The firms a company uses to promote and sell a product as it travels to its final consumer
Channel members
Distribution
Marketing firms
125
Brick-and-click businesses are those that complete almost all of their activities via retail stores
True
False
126
Complete set of all products a business offers to its market
product assortment
product categories
product line
127
Entirely new or changed in an important & noticeable way according to the FTC
enhanced product
improved product
new product
128
A company that does not post prices with its product is trying to appeal to cost conscious customers.
True
False
129
Sales-based pricing objectives set prices to achieve the highest possible sales volume.
False
True
130
Fixed costs are determined by the quantity of the product that is produced or sold.
True
False
131
One of the greatest disadvantages of e-commerce is
small businesses can more easilycompete with larger businesses.
it allows customers to compare prices and product/service features.
customers can order products day ornight, 365 days a year.
businesses compete with all businesses both locally and online
132
15. A business can change the perception of the value of a product by
D. all are correct
B. offering a special deal such as “buy one, get one free”
A. making additions to the purchase
C. offering an incentive for making a purchase
133
Economic utility is the amount of ____ a consumer receives from consumption of product/service
Utility
Satisfaction
Indirect channel
Customer
134
Wholesalers typically work closely with final consumer to help them find the products they need
false
true
135
2. Price is an important tool for marketers because it can be changed more quickly than other marketing decisions
False
True
136
Improve products by offering services, guarantees, etc
extended product
basic product
enhanced product
137
Conduct tests to determine if the new product will be successful
gather information
design strategies
conduct market tests
138
Consumers will not purchase the product because of the brand
rejection
recognition
insistence
preference
139
20. A very low price designed to increase quantity sold of a product by emphasizing value.
J. Skimming price
G. Operating expenses
I. Price lines
H. Penetration price

Spring Final MKT '25 Flashcards | StudBud

Spring Final MKT '25

139 termsStudBud Administration

Imported from external platform

Flashcards139 cardsFPractice quizPHost liveL

Questions 139

Answers

1
If you lower the price of your product, you will sell a larger quantity of the product and always increase profit margin
False
True
2
Individuals or socially related groups who purchase products for personal consumption
consumer demand
consumer markets
consumer supply
3
Wholesaler, Distributor, Broker/agent
Wholesaler
Retailer
4
Credit offered by one business to another is
A. retail credit
D. illegal
B. trade credit
C. flexible pricing
5
It is likely that a product will be grouped into large units for
Display
Transportation
Selling
Promoting
6
companies advertise a low price & then tell customers the product is unavailable or inferior, this practice is known as
C. price discrimination
A. price fixing
B. unit pricing
D. bait and switch
7
Distribution has the most direct effect on
price utility
possession utility
time and place utility
form utility
8
Businesses that still complete most business activity other than the internet
brick-and click
brick-and-mortar
click-only
e-commerce
9
25. Distinct categories of prices based on differences in product quality and features
J. Skimming price
I. Price lines
G. Operating expenses
H. Penetration price
10
If sales increase, profits will increase as well.
False
True
11
In later stages of the life cycle, competition decreases with less emphasis on price competition.
True
False
12
The final business organization in an indirect channel of distribution for consumer products is
producer
wholesaler
manufacturer
retailer
13
10. What is the basic economic problem?
C. Scarcity
A. Discounts
D. Pricing
B. Shipping
14
New product is developed to meet company's objectives
design strategies
conduct market tests
gather information
15
Businesses can have problems if channel members do not follow the marketing plan
true
false
16
Quantity of a product/service needed by abusiness in order to operate at level consumers demand
direct demand
consumer demand
derived demand
17
Unprocessed products used as basic materials for products to be produced
supplies
component parts
raw materials
18
YouTube does an excellent job of providing a space for
user-generated content
sharing information
collaboration
trending
19
Price is an important tool for marketers because it can be changed more quickly than other marketing decisions.
True
False
20
When no one else owns, handles, or re-markets the good/service.
Direct channel
Indirect channel
21
The difference between the product cost and the selling price is known as an operating expense.
True
False
22
Wholesalers do not work with final _____ in any significant way
Consumers
Customers
23
Business's land, buildings & major pieces of equipment
capital supplies
capital equipment
operating equipment
24
Some large retailers don't work with wholesalers
true
false
25
Most important part of the product is the basic physical product
extended product
basic product
enhanced product
26
Smaller, less expensive items equipment used in the operation of a business
operating items
operating equipment
operating supplies
27
Many traditional businesses use the internet to complete business activities
True
False
28
21. De-emphasizes price with a unique offering that meets an important customer need
D. Markup
F. One-price policy
C. Markdown
E. Nonprice competition
29
Railroads are the most flexible of the major transportation methods.
true
false
30
The introduction of something new that makes a significant change or improvement
novelty
revolution
modernization
innovation
31
When products and services are exchanged, they move through a channel of ____
Customers
Members
Consumers
Distribution
32
Those who participate in the movement/ exchange of products from producer to final consumer are
channel of distribution
marketing matrix
economic system
supply chain
33
If a manufacturer doesn't have the space, it may use retailers who specialize in storage
False
True
34
Franchising- developer of a business idea sells the rights to the idea and the use of the name
true
false
35
All of the following are examples of non-store retailing except
buying a candy bar at a vending machine
ordering a book online from Amazon
buying Girl Scout cookies at your door
getting gas at the gas station
36
Twitter originally allowed users to send messages of up to _____ characters to other users who choose to follow them
210
500
1000
140
37
3. If sales increase, profits will always increase as well.
False
True
38
A(n) ___ channel of dist. includes other businesses between producer and consumer
Indirect
Direct
39
Wholesalers help ____ become aware of new products.
Risk
Retailers
Wholesale clubs
Consumers
40
The relationship between changes in a product’s price and the demand for that product is known as
A. equilibrium price
B. elasticity of demand
C. economic utility
D. price/demand ratio
41
The simplest marketing channel that consists of just 2 parties
Retailer and consumer
Producer and intermediary
Wholesaler and retailer
Producer and consumer
42
16. A reduction from the original selling price
D. Markup
E. Nonprice competition
C. Markdown
B. Elasticity of demand
43
For most, distribution activities account for over ___ percent of the total marketing costs
10
90
50
25
44
The number of Internet users worldwide in 2014 was approximately
3 billion
1 billion.
500 million.
5 billion
45
Indirect channels of distribution are used most often in the sale of consumer products
true
false
46
At the breakeven point, a company
C. matches total costs and total revenues
B. needs to increase its price
A. maximizes profits
D. suffers the greatest losses
47
Advanced procedures, techniques, and tools that replace physical labor are known as basic technology
True
False
48
Consumers value the brand to the extent that they reject other brands
insistence
recognition
preference
rejection
49
The sale through mail order catalogs once was popular, but it accounts for NO sales today
false
true
50
e-commerce includes all the activities involved in selling goods over the internet
False
True
51
Businesses engaged in e-commerce do not need to use marketing concept because they rarely meet their customers
True
False
52
23. Costs associated with business operations
I. Price lines
H. Penetration price
F. One-price policy
G. Operating expenses
53
Manufacturers usually make their profits from the sale of products and services to
transportation companies
wholesalers
marketers
final consumers
54
The type of competition a product faces changes throughout the stages of its life cycle.
True
False
55
________is a website where one person regularly posts commentary, descriptions, or other content in a journal format.
Blog
Virtual collaboration
Content community
Social network
56
A company can determine the minimum price by performing a breakeven analysis.
False
True
57
A wholesaler that concentrates on one or two important functions is a(n)
full-service wholesaler
agent
broker
limited service wholesaler
58
14. Distinct categories of prices based on differences in product quality and features are
C. geographic prices
D. discounts and allowances
A. skimming prices
B. price lines
59
11. The relationship between changes in a product’s price and the demand for that product is known as
A. equilibrium price
B. elasticity of demand
C. economic utility
D. price/demand ratio
60
1. The lowest price is always the best price for every customer
True
False
61
Initially, wholesale clubs targeted final consumers
False
True
62
Which element of the marketing mix is important to businesses using e-commerce?
all marketing mix elements are important
price
product
distribution
63
22. The quantity of a product that must be sold for total revenues to match total costs at a specific price
B. Elasticity of demand
A. Breakeven point
C. Markdown
D. Markup
64
Many manufacturers use multiple channels of distribution for the same product
False
True
65
Well-known name or symbol established by 1 company & sold for use by another company
enhanced brand
basic product
licensed brand
66
Products and materials consumed in the operation of a business
raw materials
supplies
component parts
67
Channels of dist. are usually made up of independent bus. that treat each other as ____
Consumers
Customers
68
Nonprice competition is more prevalent among luxury products and services targeted to very affluent (wealthy) consumers.
False
True
69
17. Relationship between changes in a product’s price and change in demand for that product.
D. Markup
A. Breakeven point
C. Markdown
B. Elasticity of demand
70
Added elements to basic products
enhanced product
basic product
extended product
71
Of the recent changes in wholesaling, among the most important are
broader customer service
improved technology
better communications and info
all of these
72
7. Coupons and rebates are examples of discounts and allowances used by businesses
False
True
73
19. A very high price designed to emphasize the quality or uniqueness of the product.
G. Operating expenses
H. Penetration price
J. Skimming price
I. Price lines
74
12. Harmful products (tobacco) are typically _________ to reduce consumption of the product
A. Taxed more heavily
D. Not taxed
B. Taxed less heavily
C. Taxed the same as other products
75
A channel of distribution must adjust differences in quantity between producer and consumer
true
false
76
Most wholesalers purchase from producers & manufacturers & then resell them to their customers
true
false
77
Price allocates available resources among people.
True
False
78
In a private enterprise economy, governments
A. encourage activities that benefit society
D. all of the above
B. determine product prices
C. prevent companies from growing
79
With zone pricing, different product or transportation costs are set for specific areas of the seller’s market.
True
False
80
Companies & organizations that purchase products for the operation of a business
business market
busyness market
business demand
81
Consumers view the brand as valuable & will choose it if it's available
rejection
recognition
insistence
preference
82
Quantity of a product or service needed to meet the needs of the consumer
demand curve
direct demand
derived demand
83
24. An amount added to the cost of a product to determine the selling price
E. Nonprice competition
C. Markdown
D. Markup
B. Elasticity of demand
84
In the US, it is illegal for two competing companies to agree on the amount they will charge for products or services.
True
False
85
large-scale virtual collaboration
internet webpage
blogs
social network
crowd-sourcing
86
When products gathered from many manufacturers made available in one location what is adjusted?
price
assortment
location
quantity
87
Consumers can recall the brand name but it has little influence on purchases
insistence
rejection
recognition
preference
88
18. All customers pay the same price
F. One-price policy
E. Nonprice competition
G. Operating expenses
H. Penetration price
89
Social media allow the receiver of the message or information to
comment on the information
all of the above
add to the information
share the information with friends
90
Anything offered to a market by a business to satisfy needs, services or ideas
priduct
product
prodoct
91
penetration price usually results in higher profits for the company but encourages other companies to enter the market.
True
False
92
The 2 parts of the logistics information system are order processing & inventory control
true
false
93
Distribution is what part of the 4 p's?
Product
Place
Price
Promotion
94
Technology that allows consumers to have conversations and share content that they have created
social media
software applications
socialability
networking
95
Wholesalers sell primarily to final consumers
False
True
96
Group of similar products with slight variations in the marketing mix
product line
product assortment
product category
97
4. A company that does not post prices with its product is trying to appeal to cost conscious customers.
True
False
98
High markups do not always mean that a business will make a larger profit on overall sales.
True
False
99
A manufacturer and the final consumer often meet to complete an exchange.
True
False
100
Distribution involves the locations and methods used to make the product available to customers
false
true
101
Gather & studying market information & use results to assist product planning
gather information
design strategies
conduct market tests
102
Either partially or totally processed by another company
component parts
raw materials
supplies
103
About what percentage of the U.S. population has Internet access?
just under half
about 85 percent
more than 90 percent
less than 15 percent
104
Products usually do not move continuously through the channel of distribution
true
false
105
The first step in physical distribution planning is
storing products in a warehouse
sending products to distribution center
packaging the products securely
deciding how to move products
106
_____________ is/are an amount added to the cost of a product to determine the selling price.
B. Gross margin
D. Net profit
C. Operating costs
A. Markup
107
Stand-alone stores are large and located in area where there are no other competing businesses
true
false
108
Consumers are unable to identify the brand
preference
rejection
insistence
non-recognition
109
13. The satisfaction a consumer gets from a product is
B. Breakeven point
A. Elasticity
D. None of these
C. Economic utility
110
Coupons and rebates are examples of discounts and allowances used by businesses.
False
True
111
Technology is the practical application of scientific knowledge
False
True
112
The major advantage of doing business on the internet is that companies have immediate access to prospective customers
True
False
113
A business can change the perception of the value of a product by
C. offering an incentive for making a purchase
D. all are correct
A. making additions to the purchase
B. offering a special deal such as “buy one, get one free”
114
Distinct categories of prices based on differences in product quality and features are
C. geographic prices
B. price lines
D. discounts and allowances
A. skimming prices
115
An unplanned channel of distribution makes the exchange process much easier and more efficient
true
false
116
Indep. businesses that give specialized exchange functions w/o taking title to products are
limited service wholesalers
wholesale cooperatives
full-service wholesalers
agents and brokers
117
Legal protection of the words or symbols for use by a company
slogan
copyright
logo
trademark
118
Wholesalers are companies that assist with ___ activities between businesses
Promotion
Selling
Transporting
Distribution
119
Distribution is an important part of increasing customer satisfaction.
True
False
120
“FOB factory” means manufacturer pays transportation costs from the point the product is made to location of customer
False
True
121
Most social media content is created by
a publisher.
an advertising firm.
a studio.
the audience.
122
Getting a haircut is an example of...
Wholesaler
Retailer
123
The easiest and least challenging part of marketing is distribution
true
false
124
The firms a company uses to promote and sell a product as it travels to its final consumer
Channel members
Distribution
Marketing firms
125
Brick-and-click businesses are those that complete almost all of their activities via retail stores
True
False
126
Complete set of all products a business offers to its market
product assortment
product categories
product line
127
Entirely new or changed in an important & noticeable way according to the FTC
enhanced product
improved product
new product
128
A company that does not post prices with its product is trying to appeal to cost conscious customers.
True
False
129
Sales-based pricing objectives set prices to achieve the highest possible sales volume.
False
True
130
Fixed costs are determined by the quantity of the product that is produced or sold.
True
False
131
One of the greatest disadvantages of e-commerce is
small businesses can more easilycompete with larger businesses.
it allows customers to compare prices and product/service features.
customers can order products day ornight, 365 days a year.
businesses compete with all businesses both locally and online
132
15. A business can change the perception of the value of a product by
D. all are correct
B. offering a special deal such as “buy one, get one free”
A. making additions to the purchase
C. offering an incentive for making a purchase
133
Economic utility is the amount of ____ a consumer receives from consumption of product/service
Utility
Satisfaction
Indirect channel
Customer
134
Wholesalers typically work closely with final consumer to help them find the products they need
false
true
135
2. Price is an important tool for marketers because it can be changed more quickly than other marketing decisions
False
True
136
Improve products by offering services, guarantees, etc
extended product
basic product
enhanced product
137
Conduct tests to determine if the new product will be successful
gather information
design strategies
conduct market tests
138
Consumers will not purchase the product because of the brand
rejection
recognition
insistence
preference
139
20. A very low price designed to increase quantity sold of a product by emphasizing value.
J. Skimming price
G. Operating expenses
I. Price lines
H. Penetration price