Biz Chapters 11, 12, 13

Question 1

The Customer Relationship Era of marketing is characterized by

Accepted Answer

The use of technology to personalize messages and offers, Social media can be used to build relationships, The goal is to develop long-term relationships with valuable customers

Question 2

Examples of a product line

Accepted Answer

All of the laundry detergents made by P&G

Question 3

Which of these costs is "fixed" (with regard to break-even point)?

Accepted Answer

The pizza ovens at La Strada restaurant

Question 4

What does penetration pricing involve?

Accepted Answer

Pricing a product low to get more buyers, The low price will discourage competitors from entering the market

Question 5

Which is NOT a part of the 4 Ps of Marketing?

Accepted Answer

Packaging

Question 6

The function of product's packaging

Accepted Answer

Carries the branding elements, Attracts the buyers' attention, Contains directions, warranties and product information, Protects the product during shipping

Question 7

Business-to-Business (B2B) marketing

Accepted Answer

There are fewer buyers who demand more attention

Question 8

What does Value Proposition mean?

Accepted Answer

Includes the product and everything consumers evaluate when shopping

Question 9

The part of the Product Life Cycle that is at the top of the bell curve is called

Accepted Answer

Maturity

Question 10

CRM stands for

Accepted Answer

Customer Relationship Management

Question 11

Marketing segments include

Accepted Answer

benefit segmentation, geographic segmentation, demographic segmentation, psychographic segementation

Question 12

Benefit segmentation is based on

Accepted Answer

How the product is used by different consumer groups

Question 13

Brand equity

Accepted Answer

the value of the brand name and associated symbols, is built on brand loyalty, can be demonstrated with Oreos

Question 14

A wholesaler is

Accepted Answer

An intermediary that buys goods and sells them to other organizations, A channel of distribution that transports and stores goods for retailers, A way for retailers to save money by buying in bulk

Question 15

Ransomware is

Accepted Answer

When a cyber-criminal holds a company's data & computer systems hostage

Question 16

You opened an art gallery in Roswell. What does "break-even point" mean?

Accepted Answer

Variable costs like boxes to ship artwork have been covered, Fixed costs like furniture have been paid for, The gallery is not making a profit yet.

Question 17

Niche marketing...

Accepted Answer

Focuses on small but profitable market segments, Online retail supports more specialized products., Modifying mass market products to suit a small group of customers

Question 18

Bundling

Accepted Answer

Grouping products or services together to make them more valuable

Question 19

Differentiation...

Accepted Answer

Marketing will be used to inform customers of the differences, Can apply to a product, service or candidate, Can be based on real or perceived differences, Can help a company gain more share

Question 20

A product line...

Accepted Answer

One company’s offering of similar items for different markets., May have products that compete against each other

Biz Chapters 11, 12, 13

Questions 20

Biz Chapters 11, 12, 13

Questions 20