Chapter 9
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| show | Answer: customer value.
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| show | Answer: It involves charging different prices to segments of the market according to their price elasticity or sensitivity.
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| show | Answer: price discrimination.
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| show | Answer: price bands.
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| show | Answer: to keep competitors from getting shelf space
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| 6) Because more competition implies greater convergence on a standard price, a large number of suppliers in a product category most likely results in: | show 🗑
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| show | Answer: reservation price
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| 8) Which of the following statements is true about perceived value? | show 🗑
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| show | Answer: value pricing.
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| 10) Which of the following best describes setting a price at the level determined to represent the customer's perceived value for your product? | show 🗑
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| 11) In this situation, the manager has set a price that is higher than the target market is willing to pay. The customer looks at this situation as a bad deal and, unless the company has a monopoly or some other kind of market power, does not buy. Identify the situation. | show 🗑
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| show | Answer: price > cost > perceived value
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| 13) Identify the correct formula for the calculation of price elasticity of demand. | show 🗑
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| show | Answer: greater than 1
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| show | Answer: not have much impact.
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| show | Answer: price elasticity will increase.
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| show | Answer: industrial products.
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| 18) Identify the approach where the benefits of the product are put in monetary terms such as time savings, less use of materials, or less downtime. | show 🗑
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| show | Answer: outsourcing
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| 20) Which of the following approaches to calculating customer value creates a scale that puts survey responses in monetary terms? | show 🗑
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| 21) Which of the following is a marketing research method that uses theoretical profiles or concepts to determine how customers value different levels of product attributes? | show 🗑
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| 22) This method is an alternative to survey-based methods and takes place in a real environment. It tries to obtain actual market data after manipulating price in different markets. Identify this method. | show 🗑
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| 23) An understanding of the cost structure of the market provides marketing managers with: | show 🗑
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| 24) Purchasing a competitor's product and taking it apart, studying the cost of the components, and packaging describes the process of: | show 🗑
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| show | Answer: the experience curve
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| 26) Full cost plus some target margin are used to set price in a: | show 🗑
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| show | Answer: Development costs
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| show | Answer: expenses involved in bringing new products to the market.
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| 29) If there is no legal way to keep competitors out of the market, these costs must be viewed as sunk costs that do not affect decision making after the product is introduced into the market. Identify the type of cost being discussed. | show 🗑
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| show | Answer: overhead costs.
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| 31) Which of the following best describes the costs that must ultimately be covered by revenues from individual products, but are not associated with any one product? | show 🗑
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| 32) Costs, such as the marketing manager's salary and product-related advertising and promotion expenses, are examples of: | show 🗑
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| show | Answer: These costs do not vary with sales volume.
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| show | Answer: variable costs
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| 35) Which of the following statements is true about variable costs? | show 🗑
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| 36) Which of the following is a concern for marketing managers when price is used as a cost-recovery mechanism? | show 🗑
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| show | Answer: penetration pricing.
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| show | Answer: penetration pricing
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| 39) Which of the following pricing strategies is used to gain as much market share as possible? | show 🗑
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| 40) Identify the pricing strategy that is useful for preventing competitive entry. | show 🗑
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| show | Answer: when a large segment of the customer base is price-sensitive
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| show | Answer: skimming.
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| show | Answer: prestige
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| show | Answer: skimming
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| show | Answer: when there is a strong price—perceived quality relationship
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| show | Answer: return on sales pricing
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| show | Answer: investment pricing
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| 48) Which of the following best describes the pricing objective typically used by regulated utilities such as gas and electricity? | show 🗑
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| show | Answer: pricing for stability
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| 50) Which of the following pricing objectives describes a situation where the marketer attempts to price the product at the market average or match a particular brand's price? | show 🗑
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| show | Answer: competitive pricing
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| 52) When Microsoft introduced the Xbox videogame console in 2001, the company priced it at $299, exactly the same price as Sony's PlayStation 2, the market leader. Identify this pricing strategy. | show 🗑
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| 53) Identify the concept related to the psychological aspects of price. | show 🗑
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| show | Answer: reference price
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| 55) In the retail business, the reference price is often listed on the sales tag as the: | show 🗑
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| 56) Internal reference prices are formed from advertising, past purchasing experience, and so on, and are often called ________ because the customer considers them the actual prices of the products in a category. | show 🗑
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| 57) ________ goods are products that you have to try before assessing its quality. | show 🗑
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| 58) If the quality of a product or service is difficult to evaluate even after you have purchased and used the product or service, the product falls under the category of: | show 🗑
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| show | Answer: depress; raises
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| show | Answer: price bundling
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| show | Answer: congestion pricing
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| 62) Which of the following pricing tactics applies to products that are used together when one of the products is a consumable that must be replenished continually? | show 🗑
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| show | Answer: It gives customers more value than they expect for the price paid.
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| 64) ________ pricing gives customers more value than they expect for the price paid. | show 🗑
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| 65) The senior citizen discounts given at movie theaters and quantity discounts on personal computers given to large customers are examples of: | show 🗑
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| show | Answer: congestion pricing.
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| 67) Identify the strategy that involves selling the extra production at a discount to a market separate from the main market. | show 🗑
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| show | Answer: periodic discounting.
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| 69) Identify the strategy that allows customers to choose the option that best suits their level of usage. | show 🗑
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| show | Answer: the size of the audience
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| rtrotter@homeserv:~/MKT_TestBank/Final$ cat chapter10-done | show 🗑
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| 1) Which of the following statements is true regarding integrated marketing communications (IMAnswer:? | show 🗑
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| 2) Identify the element of communication process that can be the creative part of an advertisement or Web site. | show 🗑
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| show | Answer: a noise.
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| 4) Which of the following is an example of a personal channel of communication? | show 🗑
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| show | Answer: nonpersonal
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| 6) Companies often receive feedback from user groups who form their own electronic clubs who can form a collective opinion and quickly supply information about new or developing products. These electronic clubs are known as: | show 🗑
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| show | Answer: possibility of customization
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| 8) If we plot the traditional trade-off between richness and reach with reach plotted on the X-axis and richness on the Y-axis, identify the channel of communication that would be at the upper left of the line. | show 🗑
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| show | Answer: Advertising
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| show | Answer: Television advertising is an example of mass media.
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| 11) Which of the following statements is true regarding advertising? | show 🗑
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| 12) Which of the following best describes any communication form that sends messages directly to a target market with the anticipation of an immediate or short-term response? | show 🗑
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| 13) Which of the following is not a way to implement direct marketing? | show 🗑
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| 14) ________ involves sending letters or catalogues to reach potential customers. | show 🗑
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| 15) Identify the approach that uses friends and neighbors as the sales force. | show 🗑
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| show | Answer: Many customers are put off by direct marketing efforts.
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| 17) Communication activities that provide extra incentives to customers or the sales force to achieve a short-term objective are called: | show 🗑
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| show | Answer: consumer-oriented promotions
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| 19) Promotions targeting channels of distribution in an effort to get the channels to carry and promote the product are known as: | show 🗑
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| 20) Identify the objective of trade promotions. | show 🗑
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| show | Answer: Customers are induced to become price-sensitive.
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| 22) Communications for which the sponsoring organization does not pay are known as: | show 🗑
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| show | Answer: the message originates from an unbiased source
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| 24) Which of the following involves face-to-face communications between seller and buyer ? | show 🗑
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| 25) For companies marketing business-to-business products and services, the largest part of the marketing budget is usually allocated to: | show 🗑
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| show | Answer: Personal selling is expensive.
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| 27) Which of the following is the first stage of the advertising decision-making process? | show 🗑
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| 28) Which of the following is the final stage of the advertising decision-making process? | show 🗑
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| show | Answer: cognitive stage.
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| show | Answer: affective stage
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| 31) Visiting a retailer to see a product demonstration is an example of which of the following levels of response? | show 🗑
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| show | Answer: affective objectives
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| show | Answer: behavioral objectives
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| 34) Which of the following characterizes the maturity stage of the product life cycle? | show 🗑
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| 35) Which of the following types of appeals focuses on the functional or practical aspects of the product and emphasize facts, learning, and persuasion? | show 🗑
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| 36) Which of the following types of informational appeals focuses on the dominant attributes or characteristics of the product or service, or the benefits provided? | show 🗑
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| show | Answer: Competitive advantage
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| 38) Identify the advertisements in which some kind of announcement about the product dominates the copy. | show 🗑
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| 39) Which of the following types of appeals is used to develop an image-oriented advertisement which is used for product categories where it is difficult to establish tangible differential advantages? | show 🗑
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| 40) Which of the following statements is true about advertisements that are created using emotional appeals? | show 🗑
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| 41) In these ads, the copy touts how popular the product is among the target audience. Identify the informational appeal being used. | show 🗑
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| show | Answer: emotional appeals
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| show | Answer: portfolio test
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| show | Answer: Consumer jury
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| 45) Eye tracking is an example of: | show 🗑
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| 46) Which of the following types of laboratory tests is implemented by counting the number of syllables per 100 words, the length of sentences, and other structural aspects of the copy? | show 🗑
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| 47) Which of the following tests is a laboratory test used for print ads? | show 🗑
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| 48) Which of the following tests is most likely to be used for pretesting television commercials? | show 🗑
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| show | Answer: laboratory stores
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| show | Answer: inquiry test
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| 51) Which of the following tests is the most widely used method for posttesting print ads? | show 🗑
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| show | Answer: It is the best medium for action and image advertising.
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| 53) Which of the following is true regarding print ads? | show 🗑
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| 54) Which of the following statements is true regarding radio? | show 🗑
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| show | Answer: the Web
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| show | Answer: the efficiency of a media type.
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| show | Answer: television.
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| show | Answer: 80 GRP
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| show | Answer: media fit and program and ad context
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| 60) The "flighting" pattern of advertising can be best described by: | show 🗑
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| show | Answer: higher temporary peak in recall.
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| show | Answer: a basic level of advertising combined with regularly scheduled bursts of advertising.
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| show | Answer: It selects a percentage of sales, either past or expected to devote to advertising.
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| show | Answer: competitive parity
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| 65) Which of the following approaches to budgeting is the ultimate in "advertising as a cost of doing business" thinking and is similar in spirit to the percentage-of-sales method? | show 🗑
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| show | Answer: experimentation
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| 67) Which of the following approaches to budgeting involves using computerized decision support systems (DSSs) such as ADBUDG to structure budget decisions systematically? | show 🗑
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| show | Answer: TRUE
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| show | Answer: TRUE
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| show | Answer: FALSE
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| 71) Personal channel of communication includes direct contact, such as a sales force or salespeople in a retail channel. | show 🗑
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| show | Answer: FALSE
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| show | Answer: TRUE
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| 74) A large portion of marketing communication is focused on personal channels of communication. | show 🗑
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| show | Answer: FALSE
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| 76) Advertising has traditionally been defined as any paid or unpaid form of personal communication about an organization, product, service, or idea by an identified sponsor. | show 🗑
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| show | Answer: TRUE
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| 78) Telemarketing and direct sales approach are part of sales promotion. | show 🗑
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| 79) The effectiveness of a direct-mail campaign is easy to evaluate because the response comes quickly after the date of the promotion, or not at all. | show 🗑
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| 80) Sales promotion involves communication activities that provide extra incentives to customers or the sales force to achieve a short-term objective. | show 🗑
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| 81) Sales promotion can induce customers to become brand-loyal. | show 🗑
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| 82) Public relations (PR) has more credibility than advertising. | show 🗑
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| 83) The major drawback of personal selling is the expense. | show 🗑
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| 84) For products and services where there is relatively little information processing, consumers may move from the cognitive stage directly to the behavioral stage and then form attitudes after product usage. | show 🗑
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| 85) The advertisements that use news appeals make either a direct or indirect claim of superiority against a targeted or general class of competitors. | show 🗑
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| show | Answer: TRUE
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| 87) The most common form of testing for advertising concepts is the use of focus groups. | show 🗑
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| show | Answer: FALSE
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| 89) Inquiry tests are used for print ads. | show 🗑
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| 90) The minimarket test method is limited to ads for frequently purchased consumer goods with sales objectives. | show 🗑
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| 91) Inquiry test is a type of laboratory test. | show 🗑
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| 92) TV is better than print ads to target specific audiences. | show 🗑
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| 93) TV is the best medium for action and image advertising. | show 🗑
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| show | Answer: TRUE
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| show | Answer: FALSE
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| 96) Describe the elements of the communication mix. | show 🗑
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| 97) List the six stages of the advertising decision-making process. | show 🗑
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| 98) List and briefly describe the general types of informational appeals. | show 🗑
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| 99) Describe the major types of media and the advantages of each. | show 🗑
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| 100) List and briefly describe the most commonly-used methods for setting advertising budgets. | show 🗑
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