Principles of Marketing Final Review

The study of similarities and differences among consumers in two or more nations or societies is referred to as

Marketing channels are the set of pathways a product follows after production, ending in purchase/use by the end user.

If demand hardly changes with a small change in price, the demand is said to be ________.

Which of the following is the most significant benefit of using intermediaries?

The art of gaining the top positions in the search engines is known as

Price is one of the two elements of the marketing mix that produces revenue.

Variable Costs are

The information sent by a source to a receiver during the communication process is referred to as

When a product is offered across all different types of retail outlets in order to saturate market coverage we have

Reaching customers through smartphones, smartwatches, tablets, laptops, & other devices consumers might carry with them.

Cultural symbols are

Ethics refers to the

Which of the following is the first step in setting a pricing policy?

Which of the following types of distribution involves severely limiting the number of channel intermediaries?

The collective effort of all marketing within an organization to reinforce & support one another to achieve goals

After determining pricing objectives, what is the next logical step a firm should take in setting its pricing policy?

____________ is when a sales professional actively seeks customers for a product or service.

The elements of communication that convey the ideas and information about a product or service is

The 2-way flow of communication between a buyer & seller, designed to influence the purchase decision is referred to as

In a marketing context, the acronym IMC refers to

The number of ads that are to be communicated in a promotional campaign is called

Laws refer to

Shielding sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as

Promotion consists of communication tools, including advertising, personal selling, sales promotion, public relations, &

When consumers compare an observed price to an internal price they remember is known as a(n) ________ price.

Tariffs are limits on the amount of foreign imports that a country will accept in certain product categories

In marketing, the set of values, ideas, & attitudes that are learned & shared among members of a group is referred to as

Multichannel conflicts are common when the members of one channel obtain a lower price based on larger-volume purchases.