MKTG Exam 3 Review

Companies set not a single price, but a pricing _ that covers different itmes in its line and changes over time.
Structure
Companies facing the challenge of setting prices for the first time can choose between 2 broad strategies, market penetration testing & _ pricing strategy.
Market skimming
When a company sets a high price for a new product with the intention of reducing the price in the future, it is using the _ pricing strategy.
Market skimming
Which of the following product mix strategies involves setting prices across an entire product range based on cost differences between the products, customer evaluations between…..
Product-line pricing
Which of the following product mix pricing strategies involves pricing additional or accessory products sold along with the main product?
Optional product pricing
Which of the follow product mix pricing strategies involves pricing products that can only be used with the main product?
Captive product pricing
In the case of services, captive product pricing is called _ pricing.
Two parpt
Using _ pricing, companies are able to turn their trash into cash, allowing them to make their main product price more competitive.
Byproduct
Which product mix pricing strategies involves pricing multiple products to be sold together?
Product bundle pricing
What kind of strategy is “discount and allowance”?
Price adjustment strategy
Set of firms that supply companies with the raw materials, components, parts, information, finance and expertise needed to complete products and services are known as _.
Upstream partners
Which term refers to the wholesalers and retailers that form a vital link between the firm and its customers?
Downstream partners
A _ is made up of the company suppliers, distributers, and customers who partner to improve the performance of the entire system.
Value delivery network
A _ is a set of interdependent organizations that help make a product or service available for use or consumption b the consumer or business user.
Marketing channel
In a _ channel, the same member both produces and delivers a product or service to consumers.
Direct
At its most basic form, a marketing channel consists of a producer and the _.
Consumer
_ are complex behavioral systems in which people and companies interact to accomplish individual and company channel goals.
Distribution Channels
Conflict that occurs amongst firms at the same level of marketing channel is known as _ conflict.
Horizontal
A _ marketing system consists of producers, wholesalers, and retailers acting as a unified system.
Vertical
_ includes all the activities involved in selling products or services directly to final consumers for their personal non-business use.
Retailing
_ is a type of service offered by those retailers who serve customers who are willing…….
Self Service
_are retailers that offer sales assistance because they carry more shopping goods about customer……..
Limited retailers
Today, _ are flourishing due to the increased use of market segmentation and market targeting.
Specialty stores
_ are facing slow sales growth because of the slower population growth, increased competition, and the rapid growth of out-of-home eating.
Supermarkets
A _ is a small store located near a residential area that is open long hours, 7 days a week, that carries a limited line of high turnover goods.
Convenience store
Home Depot & PetSmart are examples of _.
Category killers
_ retailers in the U.S are growing faster than product retailers.
Service
The early _ cut expenses by offering few services and operating warehouse line facilities with low rent in heavily trafficked districts.
Discount stores
_ are two or more outlets that are commonly owned an controlled.
Corporate chains
_ is a wholesaler sponsored group of independent retailers that engages in a group buying and common merchandising.
Voluntary chain
McD’s, subway, and Jiffy Lube are all examples of _.
Franchises
GameStop sells only v idea games & systems offering a narrow product line…… GameStop is a _.
Specialty store
In recent years, service differentiation amongst retailers has _.
Decreased
What kind of tool is direct marketing?
One of the 5 major promotion tools
Any paid form of non-persona presentation or promotion ideas of goods or services by an identified sponsor is called _.
Advertising
The use of short-term incentives to encourage the purchase or sale of products or service is called _.
Sales promotion
_ includes sales presentations, trade shows, and incentive programs.
Personal selling
Today’s consumers do not need to rely on market or supply information about products or services because they can use _ to seek out a wealth of information.
Internet
Shifting away from mass marketing, marketers are developing _ which are designed to build closer relationships with customers in more narrowly defined micro-markets.
Focus marketing programs
In order to avoid short-sightedness, today’s marketers are working towards viewing……..
Customer relationship
Response is one of the 4 major _ functions.
Communication
_ refers. To the process of putting thought into symbolic form
Encoding
A _ is a set of symbols that the sender transmits.
Message
In the communication process, the reaction of the receiver after being exposed to a message is called the _.
Response
When a customer lets a producer know something about its product or advertising, the consumer is providing _.
Feedback
Among the buyer readiness stages, the first stage is _…………
Awareness
The decisions about impact & engagement of an advertisement fall into the category of _ decisions.
MEDIA MEDIUM *************
An advertising objective is classified by its primary purpose which is to inform, persuade, or _.
Remind
When the advertising objective is to build primary demand from new product category, _ advertising will most likely be used.
Informative
Persuasive advertising becomes _ advertising when a company directly or indirectly compares its brand with one or more other brands.
Attack
Describing available services and support is most likely a goal of _ advertising.
Informative
Keeping the brand in a customer mind during off-seasons is most likely a goal of _ advertising.
Reminder
To break through the clutter, many marketers have ….
Madison & vine
The anime of _ is to make an advertisement so useful or entertaining people want to watch it.
Advertainment