Spring Final MKT '25

Advanced procedures, techniques, and tools that replace physical labor are known as basic technology

YouTube does an excellent job of providing a space for

Fixed costs are determined by the quantity of the product that is produced or sold.

When no one else owns, handles, or re-markets the good/service.

The type of competition a product faces changes throughout the stages of its life cycle.

12. Harmful products (tobacco) are typically _________ to reduce consumption of the product

large-scale virtual collaboration

An unplanned channel of distribution makes the exchange process much easier and more efficient

You do not purchase all products in the same way

Channels of dist. are usually made up of independent bus. that treat each other as ____

For most, distribution activities account for over ___ percent of the total marketing costs

3. If sales increase, profits will always increase as well.

A company that does not post prices with its product is trying to appeal to cost conscious customers.

Entirely new or changed in an important & noticeable way according to the FTC

_____________ is/are an amount added to the cost of a product to determine the selling price.

Successful strategies focus only on the company's own products and marketing efforts

The difference between the product cost and the selling price is known as an operating expense.

A general promise or assurance of quality is

Wholesalers help ____ become aware of new products.

Consumers view the brand as valuable & will choose it if it's available

Companies & organizations that purchase products for the operation of a business

In the US, it is illegal for two competing companies to agree on the amount they will charge for products or services.

The unique, memorable quality of a brand is called

Social media allow the receiver of the message or information to

About what percentage of the U.S. population has Internet access?

With zone pricing, different product or transportation costs are set for specific areas of the seller’s market.

e-commerce includes all the activities involved in selling goods over the internet

Shopping goods need to be available in most convenient locations and promotion is not important

Anything offered to a market by a business to satisfy needs, services or ideas

Brick-and-click businesses are those that complete almost all of their activities via retail stores

11. The relationship between changes in a product’s price and the demand for that product is known as

18. All customers pay the same price

A company can determine the minimum price by performing a breakeven analysis.

Franchising- developer of a business idea sells the rights to the idea and the use of the name

Getting a haircut is an example of...

Wholesalers typically work closely with final consumer to help them find the products they need

A market includes all of the customers available for a business to serve

When products gathered from many manufacturers made available in one location what is adjusted?

A wholesaler that concentrates on one or two important functions is a(n)

Group of similar products with slight variations in the marketing mix

If a manufacturer doesn't have the space, it may use retailers who specialize in storage

Wholesaler, Distributor, Broker/agent

Gather & studying market information & use results to assist product planning

Consumers can recall the brand name but it has little influence on purchases

A(n) ___ channel of dist. includes other businesses between producer and consumer

Products usually do not move continuously through the channel of distribution

penetration price usually results in higher profits for the company but encourages other companies to enter the market.

If sales increase, profits will increase as well.

20. A very low price designed to increase quantity sold of a product by emphasizing value.

25. Distinct categories of prices based on differences in product quality and features

“FOB factory” means manufacturer pays transportation costs from the point the product is made to location of customer

The major advantage of doing business on the internet is that companies have immediate access to prospective customers

It is likely that a product will be grouped into large units for

22. The quantity of a product that must be sold for total revenues to match total costs at a specific price

Wholesalers do not work with final _____ in any significant way

Consumers are unable to identify the brand

The relationship between changes in a product’s price and the demand for that product is known as

When customers see few differences in competing products they often look for the lowest price

Marketing plans are developed for a specific time period, often

Which of the following is typically not an element of a SWOT analysis?

New product is developed to meet company's objectives

The sale through mail order catalogs once was popular, but it accounts for NO sales today

High markups do not always mean that a business will make a larger profit on overall sales.

Businesses engaged in e-commerce do not need to use marketing concept because they rarely meet their customers

14. Distinct categories of prices based on differences in product quality and features are

Individuals or socially related groups who purchase products for personal consumption

Twitter originally allowed users to send messages of up to _____ characters to other users who choose to follow them

Indirect channels of distribution are used most often in the sale of consumer products

The description of the way marketing activities are planned and coordinated to achieve goals is

1. The lowest price is always the best price for every customer

Added elements to basic products

A business can change the perception of the value of a product by

Improve products by offering services, guarantees, etc

4. A company that does not post prices with its product is trying to appeal to cost conscious customers.

Initially, wholesale clubs targeted final consumers

The most important factor used to segment a market is buying behavior

At the breakeven point, a company

13. The satisfaction a consumer gets from a product is

10. What is the basic economic problem?

Distinct categories of prices based on differences in product quality and features are

Unprocessed products used as basic materials for products to be produced

Business's land, buildings & major pieces of equipment

Price is an important tool for marketers because it can be changed more quickly than other marketing decisions.

One of the greatest disadvantages of e-commerce is

The introduction of something new that makes a significant change or improvement

When considering the physical exchange of the product, which marketing mix element is this?

The most important part of the product element is

Those who participate in the movement/ exchange of products from producer to final consumer are

21. De-emphasizes price with a unique offering that meets an important customer need

If you lower the price of your product, you will sell a larger quantity of the product and always increase profit margin

Consumers value the brand to the extent that they reject other brands

The number of Internet users worldwide in 2014 was approximately

Quantity of a product or service needed to meet the needs of the consumer

Many traditional businesses use the internet to complete business activities

In later stages of the life cycle, competition decreases with less emphasis on price competition.

Coupons and rebates are examples of discounts and allowances used by businesses.

The easiest and least challenging part of marketing is distribution

Information in a company's MkIS is not used when developing a marketing plan

Well-known name or symbol established by 1 company & sold for use by another company

In a private enterprise economy, governments

A manufacturer and the final consumer often meet to complete an exchange.

Distribution is what part of the 4 p's?

Some large retailers don't work with wholesalers

It is possible for a company to select more than one segment for a target market

The final business organization in an indirect channel of distribution for consumer products is

Legal protection of the words or symbols for use by a company

A positioning stmt. is a description of the qualities that make you different from competition

The 2 parts of the logistics information system are order processing & inventory control

A component of a market in which people have one or more similar characteristics

Distribution involves the locations and methods used to make the product available to customers

The firms a company uses to promote and sell a product as it travels to its final consumer

Few basic products are sold with additional features

Businesses that still complete most business activity other than the internet

The simplest marketing channel that consists of just 2 parties

Technology is the practical application of scientific knowledge

Manufacturers usually make their profits from the sale of products and services to

Price allocates available resources among people.

Most of the major purchases made by consumers are

________is a website where one person regularly posts commentary, descriptions, or other content in a journal format.

Complete set of all products a business offers to its market

Which element of the marketing mix is important to businesses using e-commerce?

Indep. businesses that give specialized exchange functions w/o taking title to products are

17. Relationship between changes in a product’s price and change in demand for that product.

All of the following are examples of non-store retailing except

Products and materials consumed in the operation of a business

A product in the intro stage will need to be widely distributed for maximum exposure

Marketing strategies need to be based on a complete study of a market and ways to serve it

Technology that allows consumers to have conversations and share content that they have created

Nonprice competition is more prevalent among luxury products and services targeted to very affluent (wealthy) consumers.

Sales-based pricing objectives set prices to achieve the highest possible sales volume.

Stand-alone stores are large and located in area where there are no other competing businesses

Wholesalers are companies that assist with ___ activities between businesses

Quantity of a product/service needed by abusiness in order to operate at level consumers demand

Consumers will not purchase the product because of the brand

During the maturity stage of the product life cycle,

Most important part of the product is the basic physical product

Distribution is an important part of increasing customer satisfaction.

Of the recent changes in wholesaling, among the most important are

A marketing strategy begins with the company goals on which the strategy is based

Wholesalers sell primarily to final consumers

companies advertise a low price & then tell customers the product is unavailable or inferior, this practice is known as

Railroads are the most flexible of the major transportation methods.

Economic utility is the amount of ____ a consumer receives from consumption of product/service

Conduct tests to determine if the new product will be successful

When products and services are exchanged, they move through a channel of ____

Most wholesalers purchase from producers & manufacturers & then resell them to their customers

24. An amount added to the cost of a product to determine the selling price

The first step in physical distribution planning is

Either partially or totally processed by another company

15. A business can change the perception of the value of a product by

Both expensive and modestly prices items can be classified as specialty goods

Most social media content is created by

2. Price is an important tool for marketers because it can be changed more quickly than other marketing decisions

23. Costs associated with business operations

7. Coupons and rebates are examples of discounts and allowances used by businesses

16. A reduction from the original selling price

Credit offered by one business to another is

Businesses can have problems if channel members do not follow the marketing plan

The final section of a marketing plan identifies action needed to accomplish/eval the strategy

Many manufacturers use  multiple channels of distribution for the same product

A channel of distribution must adjust differences in quantity between producer and consumer

Smaller, less expensive items equipment used in the operation of a business

Distribution has the most direct effect on

19. A very high price designed to emphasize the quality or uniqueness of the product.