this is for a markting class QUESTION 1 In considering long-term allocations of

Question

this is for a markting class

QUESTION 1

In considering long-term allocations of promotional dollars, where is the most money spent?

Consumer sales promotions

Consumer media advertising

Public relations

Trade promotions

QUESTION 2

Which of the following is not true about services:

Services cannot incorporate products

Customer satisfaction and loyalty are driven by service excellence

Services can be used as a differentiation strategy in competitive markets

Services frequently provide higher profit margins than products

QUESTION 3

Given the manufacturer's selling price is $1000 and the manufactuer's cost is $200, what would the manufacturer's markup on selling price be?

5%

20%

80%

500%

QUESTION 4

A skimming pricing strategy tends to be most effective:

Under unitary conditions

In price-sensitive markets

If unit costs are low

When demand is relatively inelastic

QUESTION 5

Also known as undercover marketing (or roach baiting), this is an aspect of marketing in which an audience is not aware that they are being marketed to:

Unknown marketing

Stealth marketing

Public marketing

Targeted marketing

QUESTION 6

Break-Even Quantity is calculated as:

Price - Average variable cost

Revenue - Variable Costs

Total fixed costs / (Price - Variable Cost)

Total fixed costs / Variable Costs

6.25 points   

QUESTION 7

Car dealerships might typically run twenty ads the last week of every month to spur sales to help them meet their monthly quotas but not run ads in the other weeks of the month. Their advertising scheduling method would best be described by the term:

Continuous

Pulsing

Seasonal

Flighting

QUESTION 8

Pioneering ads are most likely descriptive of ads for products that are in which stage of the product life cycle?

Introduction

Growth

Maturity

Decline

QUESTION 9

Which of the following scenarios would most likely result in you keeping your same market share with profits staying low?

Our firm maintains promotions, while our competitors cut back on theirs

Both our firm and our competitors maintain the same level of promotions

Our firm cuts back on promotions, while our competitors maintain their same level

Both our firm and our competitors cut back on promotions

QUESTION 10

In class, Professor Miller told us a story about a colleague of his at Nissan that gave him this advice for selling cars to dealerships...

Double their number call them a "Juggernaut" if they take more than half.

Make them take their number, end of story.

Triple their number and call them a "monster" if they take half.

Double their number call them a "kitty cat" if they don't take half.

QUESTION 11

In class we defined an economic pricing strategy as a product that has:

A high price and low quality

A low price and high quality

A high price and high quality

A low price and low quality

Consumer sales promotions

Consumer media advertising

Public relations

Trade promotions

Explanation / Answer

d) Trade Promotions a) Services cannot incorporate products c) Mark UP = Selling Price - MC => 1000 - 200 = 800. Mark Up percentage on Selling price = 800*100 / 1000 => 80% d) When demand is relatively inelastic. Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time.

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