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Exam 15: Managing the Marketing Mix: Product, Price, Place, and Promotion

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Question 131

Multiple Choice

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Business sponsorship of events,such as the Molson Indy car races or Bell Canadian Open golf tournament,is intended to increase:

A) brand awareness.
B) the quality of the event.
C) the promotional budget.
D) the availability of knockoff brands.

E) B) and C)
F) B) and D)

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Question 132

Multiple Choice

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_______ costs are those costs that increase as the level of production increases.

A) Fixed
B) Mixed
C) Variable
D) Uncontrollable

E) A) and B)
F) C) and D)

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Question 133

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The Newsville City Press is a daily newspaper serving a city with a population of just over 200,000.The publishers have placed vending machines for their paper throughout Newsville and its suburbs.They also sell their papers at most of the supermarkets,convenience stores,bookstores,and drug stores in the area.The Newsville City Press uses an intensive distribution strategy.

What is the advantage of a category killer? Give an example.

Creative product differentiation can enable a small business to increase market share.

Many products are promoted by emphasizing their benefits,rather than setting the price lower than that of competitive goods.This emphasis on the product's benefits illustrates a _______ strategy.

Competition-based pricing is a strategy based on what all the other competitors are doing.

Compared to advertising,publicity is less believable.

One way a firm can avoid a price war is to:

Kathy's company sells a wide variety of shampoos.This is considered a product _______.

Gill's Gadgets establishes the price it charges for its products by determining the cost of production and then adding on a desired profit margin.Gill's strategy is known as target costing.

Department stores often use _________ pricing in which they have regular prices which are relatively high,but offer special sales where prices are set lower than competitors.

Hartselle Home Products,Inc.manufacturers a variety of inexpensive household gadgets.The company has decided to cut costs by eliminating all of the marketing intermediaries who help distribute its products.Hartselle will be able to reduce its total marketing costs by eliminating the marketing functions these intermediaries perform.

When consumers calculate the value of a product,they look at the benefits and then subtract the cost.

Mailing ads to nearby residents helps grocery stores reach their target market with information of special sales.This represents direct marketing.

Costs incurred regardless of the number of units of a product that are produced or sold are called:

Firms utilizing an everyday low pricing (EDLP)strategy establish a policy of special sales on a regular basis.

Rather than having frequent special sales,Walt's Warehouse has a pricing strategy that maintains lower prices than competitors all the time.Walt's pricing strategy is known as everyday low prices (EDLP).

Pattie operates the Zestee Burgers restaurant.The cost of pickles,onions,buns,ketchup,and meat patties would all be considered variable costs for her type of business.

Marketers utilize pricing,advertising,and packaging to successfully differentiate their products from competitors' products even when actual differences are quite small.