2024 Marketing 1 Final Exam Review for School City Final

These companies store large quantities of products and sell them to other retailers.

A well thought out vision communicates: (pick 2)

Companies that want to limit their distribution to high end retailers would use which type of distribution strategy?

Combining complimentary products together to sell under one price.

When competitors collaborate illegally to agree on certain prices to charge customers for a product this is known as:

High quality, high priced products such as Gucci use this pricing strategy

The method by which a product motes from the producer to the consumer is the:

The cost of running your business is also called:

During which stage of product development do companies consider market size, potential sales, costs and production?

The phases that a product goes through during their existence.

When sales revenue equals the cost of producing and marketing a product you have reached the

Retailers that have physical stores rather than online stores are known as:

Name the illegal pricing strategy: A company advertises very low prices they don't intend to sell to entice customers.

The benefit of selling directly to customers is that:

A ______identifies a product as belonging to a specific company & recognizes the company's ownership of the brand.

What would be the best distribution method for water from the treatment plant to homes?

This is the most expensive form of transportation for products.

Pricing an item at or below cost to bring customers into the store in hopes that they will buy additional items.

A specific model, brand or size of a product within a line of products.

A brand developed and owned by the wholesales or retailer such as Great Value for Walmart.

Intangible products such as haircuts are known as

Which would be the best transportation method for a heart transplant that needs to move from New York to LA?

When demand for a product goes up substantially prices usually:

What would be the best transportation method to move cars Detroit Michigan to Phoenix Arizona?

Amount added to the cost of a product to reach the selling price. Ex: DECA cookies cost .50 to make, we sell for $1

In which phase of the product life cycle do sales and profits start to drop substantially?

Brand element that incorporates unique symbols, colors lettering or designs such as the Nike swoosh or the Google G.

A ________ is a a model for a new product.

This pricing strategy is often used to gain market share when trying to break into an existing competitive market.

A farmers market is an example of which type of distribution?

In this phase of the product life cycle are companies focused on production and promotion?

When a business charges different prices to similar customers in similar situations.

An advantage of using a retailer to distribute your products is

Selling products on the internet is known as:

___________ is calculated by subtracting expenses from revenue.

An ________ intermediary brings buyers and sellers together. They do not take ownership of the products.

When a company legally allows another company to use its brand images Such as Steph Curry and Under Armor

Word, group of words or letters that represent a product or service such as Hot Wheels or Tesla.

A companies percentage of total sales volume in given market. ExL Coke maintains approximately 45% of soft drink market.

Cost of Delay has 3 components. Select all three:

When manufacturers combine brands to make a product, capitalizing on the popularity of both like Doritos & Taco Bell

These are typically non-profit institutional markets wholesalers sell to.

Product width is the number of different product lines a company offers. Which example best describes product width?

Companies can build a positive by

Which of the four P's does distribution fall under?

This distribution strategy uses all suitable outlets to sell products.

Product depth is the number of variations of a product a company offers within one product line. Choose the best example

Southwest is positioned as a low fare alternative to their competition. What positioning strategy is used?

During which stage of product development do companies focus on evaluating future product concepts?

What type of branding incorporates characters such as Tony the Tiger or Mr. Peanut?