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

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Question 1

True/False

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Ultimately,the price of a good will be determined by the interaction of supply and demand in the marketplace.

A) True
B) False

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Question 2

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The purpose of break-even analysis is to determine the lowest price a firm can charge and still be able to cover its costs of production.

A) True
B) False

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Question 3

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The _______on packages were intended to improve inventory control for businesses.

A______ is a marketing intermediary that sells to other organizations.

While packaging innovations benefit the consumer,they have increased the workload of retailers.

Sales promotion programs can be used to generate employee enthusiasm.

Borden,Inc.offers pasta,dairy items,and adhesives.These different types of products are referred to as Borden's:

Manufacturers are usually able to perform marketing functions such as transporting,advertising,and storing,faster and more cheaply than marketing intermediaries.

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.

Demand-based pricing is another name for cost-based pricing.

As a manager at Excitement Foods,Mark is responsible for the firm's Kool'n Kreamy brand of ice cream.Recently,he approved a proposal to test market new ice cream flavours.He also is considering the possibility of lowering the price of the ice cream and initiating a new advertising campaign.Mark appears to be a:

In recent years,the packaging of products has been given a greater role in product promotion.

All products follow the product life cycle.

The rent a firm pays each month for office space is an example of a(n) :

The critical component of a total product offer is always a low price.

Brand names can significantly impact consumer perceptions of a product.

Depending upon the promotional campaign,advertising may include paid and non-paid forms of non-personal communication.

As a component of the promotion mix,advertising includes each of the activities marketers use to inform people about products and persuade them to participate in an exchange.

Shuichi owns and operates his own sushi bar.His fixed costs would include rent,insurance,and property taxes.

The number of units of a product that must be sold for total revenue to equal total costs is called the _______.