BUSI 520 Quiz 4. Questions & Answers
Liberty University BUSI 520 Quiz 4. Questions & Answers (Graded A)
Attempt Score 100 out of 100 points
... [Show More] Question 1
2 out of 2 points
________ pricing takes into account a host of inputs, such as the buyer's image of the product performance, the channel deliverables, the warranty quality, customer support, and attributes such as the supplier's reputation, trustworthiness, and esteem.
Selected Answer: Perceived-value
Question 2
2 out of 2 points
In markets that are characterized by products that are highly homogeneous, how should a firm react to a competitor's reduction in price?
Selected Answer: augment the product
Question 3
2 out of 2 points
Competitors are most likely to react to a price change when ________.
Selected Answer: there are few competing firms
Question 4
2 out of 2 points
When higher-priced competitors match lower prices of their competitors but have longer staying power because of deeper cash reserves, it leads to a(n) ________ trap.
Selected Answer: shallow-pockets
Question 5
2 out of 2 points
A company does not set a final price until the product is finished or delivered. This is known as ________.
Selected Answer: delayed quotation pricing
Question 6
2 out of 2 points
Starbucks, Aveda, and BMW have been able to position themselves within their categories by combining quality, luxury, and premium prices with an intensely loyal customer base. These companies are employing a ________ strategy.
Selected Answer: product-quality leadership
Question 7
2 out of 2 points
Matt's retail store offers all products at $2 less than its competitors. The store never runs promotional campaigns or offers special discounts. Matt's retail store is following a(n) ________ pricing policy.
Selected Answer: everyday low
Question 8
2 out of 2 points
The minimum price that most consumers would pay for a given product is known as the ________ price.
Selected Answer: lower-bound
Question 9
2 out of 2 points
Co-optation is an effort by one organization to win the support of the leaders of another by ________.
Selected Answer: including them in advisory councils
Question 10
2 out of 2 points
Which of the following covers payment terms and producer guarantees?
Selected Answer: conditions of sale
Question 11
2 out of 2 points
Which of the following is the most complete and accurate description of a pure-click company?
Selected Answer: These are companies that launch a Web site without any previous existence as a firm.
Question 12
2 out of 2 points
When Japanese teenagers carry DOCOMO phones from NTT and use them to order goods, they are engaged in ________.
Selected Answer: m-commerce
Question 13
2 out of 2 points
________ channel conflict occurs between channel members at the same level.
Selected Answer: Horizontal
Question 14
2 out of 2 points
As a service output produced by marketing channels, product variety refers to the ________.
Selected Answer: assortment provided by the marketing channel
Question 15
2 out of 2 points
Stores are using ________ to measure a product's handling costs from the time it reaches the warehouse until a customer buys it in the retail store.
Selected Answer: direct product profitability (DPP)
Question 16
2 out of 2 points
An independent retailer using a central buying organization and joint promotion efforts with other retailers is part of a ________.
Selected Answer: retailer cooperative
Question 17
2 out of 2 points
E&OE is trying to minimize its inventory costs, which are extremely high. The company has realized that it can achieve this by maintaining a near-zero inventory and producing more products only once it is ordered. Which of the following will be true for E&OE?
Selected Answer: Order-processing costs will be lower than the inventory-carrying costs.
Question 18
2 out of 2 points
Because shelf space is scarce, many supermarkets now charge a ________ for accepting a new brand, to cover the cost of listing and stocking it.
Selected Answer: slotting fee
Question 19
2 out of 2 points
Jake wants to open a Subway franchise in his small town. To do this, he must pay the company a ________ fee.
Selected Answer: royalty
Question 20
2 out of 2 points
________ are independently owned businesses that take title to the merchandise they handle. They are full-service and limited-service jobbers, distributors, and mill supply houses.
Selected Answer: Merchant wholesalers
Question 21
2 out of 2 points
LCH is a leading electronics company that produces and markets its own brand of desktop and laptop computers for both individual consumers and businesses. Which of the following sequences of consumer responses is relevant as a marketing communications model for LCH's products?
Selected Answer: do-feel-learn
Question 22
2 out of 2 points
________ is one of the sources of a spokesperson's credibility that refers to the specialized knowledge that he or she claims to possess.
Selected Answer: Expertise
Question 23
2 out of 2 points
A(n) ________ appeal is a creative strategy that elaborates on a nonproduct-related benefit or image.
Selected Answer: transformational
Question 24
2 out of 2 points
Which of the following is an example of an advertising platform?
Selected Answer: posters and leaflets
Question 25
2 out of 2 points
Which of the following is an example of a business and sales force promotion?
Selected Answer: contests for sales reps
Question 26
2 out of 2 points
Gabrielle is the chief marketing officer of Boyd Pharmaceuticals. She is meeting with Trent, the chief financial officer to decide on the company's marketing communications budget. After extensive discussions, they decide that the size of the budget will be calculated as a fraction of the overall turnover. What method did Gabrielle and Trent use to arrive at the marketing communications budget?
Selected Answer: percentage-of-sales method
Question 27
2 out of 2 points
Which of the following is a medium of visual identity for a company?
Selected Answer: dress codes
Question 28
2 out of 2 points
Advertisements for which of the following product categories would be most effective when used with a flighting pattern?
Selected Answer: refrigerator
Question 29
2 out of 2 points
Rolex calls itself the "Official Timekeeper" of the Wimbledon and Australian Open lawn tennis championships, by virtue of its sponsorships of the marquee events. What is the most likely objective for Rolex's sponsorship deal with these events?
Selected Answer: to increase salience of company or product name
Question 30
2 out of 2 points
________ is finding the most cost-effective media to deliver the desired number and type of exposures to the target audience.
Selected Answer: Media selection
Question 31
2 out of 2 points
Marketers often cut the cost of advertising dramatically by using consumers as their creative team. This strategy is known as ________.
Selected Answer: crowdsourcing
Question 32
2 out of 2 points
Which of the following is a sales promotion tool that is consumer franchise building in nature?
Selected Answer: frequency awards
Question 33
2 out of 2 points
Which of the following is NOT one of the four main categories of online marketing communications?
Selected Answer: guerrilla marketing
Question 34
2 out of 2 points
Of the time US consumers spend with all media, almost ________ is spent online.
Selected Answer: one-half
Question 35
2 out of 2 points
The average click-through in terms of the percentage of consumers who click on a link for ________ is about 2 percent.
Selected Answer: pay-per-click ads
Question 36
2 out of 2 points
Mountain Dew's Dewmocracy promotional campaign — including advertising, events, a Web site and social media efforts designed to engage consumers in brand-related activities — is an example of ________.
Selected Answer: paid media
Question 37
2 out of 2 points
Which of the following is NOT an example of viral marketing?
Selected Answer: Hasbro places a Facebook ad about its TV channel.
Question 38
2 out of 2 points
VW chose to launch its GTI in the United States with a(n) ________, which was downloaded 2 million times in three weeks.
Selected Answer: app
Question 39
2 out of 2 points
Which of the following is an example of a problem question?
Selected Answer: What parts of the system create errors?
Question 40
2 out of 2 points
Jackson, the sales representative of a European manufacturer of commercial heavy duty washing machines, calls on the hotels in California. During a sales call, he asks the housekeeping manager of a hotel "How many bed sheets do you wash in a day, on average?" This question can be classified as a(n) ________ question.
Selected Answer: situation
Question 41
2 out of 2 points
Randi is most motivated when there is no ceiling or caps on her commissions, she can earn overachievement commissions for exceeding quotas, and benefits from prize structures that allow multiple winners. She is probably a ________.
Selected Answer: star
Question 42
2 out of 2 points
Which of the following is most likely to use database marketing?
Selected Answer: an airline
Question 43
2 out of 2 points
Which of the following is NOT one of the advantages of inside selling?
Selected Answer: All of the above are advantages.
Question 44
2 out of 2 points
Which of the following questions is LEAST relevant during the preapproach stage of the sales process?
Selected Answer: How can I overcome psychological resistance?
Question 45
2 out of 2 points
Social marketing programs designed to discourage cigarette smoking or excessive consumption of alcohol are examples of ________ campaigns.
Selected Answer: behavioral
Question 46
2 out of 2 points
As long as finance focuses on short-term profit, it will oppose major investments designed to build satisfied, loyal customers. Which of the following steps that a marketing CEO can take to create a market- and customer-focused company can help a CEO overcome this challenge?
Selected Answer: Change the company's reward measurement and system.
Question 47
2 out of 2 points
Cause-related marketing is part of ________.
Selected Answer: corporate societal marketing
Question 48
2 out of 2 points
________ analysis looks at specific products, territories, and so forth that failed to produce expected sales.
Selected Answer: Microsales
Question 49
2 out of 2 points
Which of the following represents the objective of a cognitive social marketing campaign?
Selected Answer: Explain the different causes of obesity and how it can be prevented.
Question 50
2 out of 2 points
________ is the process that turns marketing plans into action assignments and ensures that such assignments are executed in a manner that accomplishes the plan's stated objectives.
Selected Answer: Marketing implementation [Show Less]