exam 4 chp 14,15,16

what element of the marketing mix is the most difficult for a manager to control due to the impact it has on customer valuations of an offering?

Price

Ultimately, procedures determine the porice of the product

false

designing a product so that it satisfies customers and meets profit margins desired by frims is called..

Target Costing

Target costing method is based on..

demand

setting price at, above, or below competitors based on what they are doing is a price strategy called..

competition based pricing

why is price hard for marketing managers to control

it is important part of the total product offer in the long run, price is determined by market

the point where revenues from sales equal all costs is called the…

break-even point

pricing strategy is used when a firm prices products based on consumer demand is called

demand orientated

marketers who seek to differeientiate their products by promoting sttributes such as safety or the brand name are using ..

non-price competition

oeganizations that assis in moving goods and services form producers to businesses (b2b) and from business to conumer (b2c) are called..

marketing intermediaries

Stores located in a shopping mall that sell various goods and services to ultimate consumers are called..

retailers

marketing intermediaries such as transport companies add costs to products, they they are eventually outweighed by the value they creawte for consumers

true

when an individual goes to a supermarket and seoects a box of cereal from several choices of type, brand, and site is and example of..

the value of marketing intermediaries who provide the assortment

when something has the ability to satisfy a want, ability, or value to goods and services it is said to have

utility

a manufactureer who assmebles the components of a computer for sale is providing which type of utility?

form

adding value to products by making them available when consumers need them is the essence of _ utility

time

which of the following are part of posession utility?

installation, providing credit, delivery

which type of utility opens two way flows of inofrmation between marketing participants

information utility

when a consumer revieves fast and friendly service after purchase, he or she is said to be enjoying _ utility

serivice

which is true of wholesalers

• selling products to specific stores so that each store has its own unique inventory

• selling products to a shcool or hospital to run their buisness is considered a whoelsale transaction

• selling poroducts to a company for iunternal use in production and wholesaling

which type of wholesaler is an independently owned firm that takes title to the goods it handles

merchant wholesaler

an intermediary adds__by doing whatever is necassary toi trasnsfer ownership from one party to another

possesion utility

what are two primary functions of agent and brokers

to assist in negotioating an exhange

to bring buyers and sellers together

when marketers place a product in as many retail outlets as possible theyre using a __ distribution strategy

intensive

small businesses can use nonstroe retailing methods such as tghe internet to _

open new channels of distribution

_ is the seling of goods and services to ultimate consumers over the internet

online retailing

what is the type of nonstore marketing that uses toll-free numbers to supplement online or catalog sales

telemarketing

a house party where those iviterd re sold merch such as jewlery, ex; are examples of the nonstore retailing known as_

direct selling

in wich ways can small businesses uise nonstore retailing to open new channels of distribution to consumers?

direct selling at home/work

electronic retailing

direct marketing

the distrubition channel created when independent contractors are recruited by upliers and then recruit downliners, al who revieve commision is called_

multilevel marketing

retailers can compete with online retailers by using which of the following distribution system to be more effecient

corportate, contractural, administered

in a _, all of the intermediary functinos are owned and controlled by the manufacturer

corprotae distrubtion system

independent intermediaries but agree to coorperate have likely formed a _distribution system

contractural

an advantage of participation in multilevel marketing for those who do the selling is_

low cost of entry

when_mamnaye all marketing functions at the retail levelthey are employing an administrated distibution system

producers

a supply chain is AKA

value chain

the way that traditional sellers can compete w/online is to be

effecient so they breat them on cost

the goal of _is to manage the physical flow of materials and information from points of orgin to points of consumption while meeting customer requirements at a profit

logistics

which method of transportation carries the largest percentage by volume of all goods shipped within the us

railroads

a distribution system where producers manage all of the marketing functions at the retail level..

administered distribution system

the entire sequence of linked activited that must be performed by organizations to more goods from the sources of raw materials to the ultimate consumer is a..

supply chain or value chain

which two transporttion modes are included in the second largest surface transportation mode becuase of their ability to deliver to more locations

trucks, vans

a business needs to send goods overseas in the least expensive way would use..

ships

pipelines can be used by transporting which two products

petroleum, water

the primary benefit of _ is speed

air transportation

intermodal shipping

multiple modes of transportaion (boat, plane etc)

a _ holds products such as season goods, for a relatively long time

storage warehouse

_ consists of all the techiniques sellers use to motivate people to buy their products

marketing

what term refers to paid, non personald communication through various media by organiziations and idividuals who are in some way identiefied in the message

advertising

what is the primary advantage of online advertising

the company can get more info about the consumer

it pushes customers to a website to learn more

marketers use social mnedia for a variety of things inculdings _

testing ads before being implemented in traditional media

collaborating w/user content creators to maker +post new promo videos

tc ads offer many advantages to national advertisers, but it is a relatively _form of advertisement

expensive

technique sellers use to motivate people to buy their products or services is a part of the _element of the marketing mix

promotion

characteristics of adversing

non personal communication

paid form of communication

characters eating cereal in shows..

product placements

infomercials secessful becuase..

they show product in detail

equivelant to sending out best sales people

an advantage of global advertising is saving money. however, global advertising can have serious disadvantages such as_

difficulties creating one message for different cultures

different buying habiuts in many countries

language + cultural differences

the face to face presentaion and promotion of goods and services is known as _

personal selling

to help establish trust in customer relationship, sales people must..

know their products thoughrly

know their competitors products throughly

an employee researchign potential buyers and then choosing who ius most likey to buy is performing the

step of the selling process

prospecting

a person with the means to buy a product, the authority to buy, and willingness to listen to a sales message is known as_

prospect

during qualifying, a saleperson is making sure that consumers..

have willingness to listen to a sales message

have the authority to buy

have the need for product

in_sales, the salesperson does not have to do much prospecting or quialifying

business to consumer(b2c)

public realtions include which funtions

executing programs of action and information to earn public understanding

chaning policies and procedures in response to public requests

evaluating public attitudes

the talking arm of public relations known as_

publicity

the marketer trying to stimulate consumer purchasing and a dealer interest by means of short-term activities is likely to use_promotion as an incentive

sales

when a sales person takes the time to make sure the selected customers actually need the products and have willingess and suthority to buy, he is the _steps of the selling process

qualifiying

a promotional took that involves people telling other people about products theyre purchased is known as_

word of mouth promotion

ways companies use social media

increase product exposure

create awareness of product features

price traffic to the company website

businesses like the use of bligs becuase they dont have to keep them updated to be succesful

false

podcast example

multimedia show that people can listen to on mobile devices

the use of text messaging by marketers to promote or provide company information known as_

mobile marketing

a carefuly planned_uses multiple tools to inform customers and target audiences about your product

promotion mix

the push strategy is when the producers users wholesalers discounts, personal selling, sales promotion contests, and other tools to convince wholesalers and retailers to stock and sell its merch

true

a food manufacturere that wants to attract new customers might choose to use _ to interact with customers to provide them with product info, tips, and recipies

a blog

company uses alerts when customer is near store is engaging in _promotion

mobile media

if push strategy is succesful, then consumers are more likely to find out about a new product after_

seeing it in stores

wholesalers + retailers decide to stock it