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51 Cards in this Set
- Front
- Back
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Which of the following is not a type of pricing objective?
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Break even
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Which of the following products would most likely have a profit objective?
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a fad like beanie babies
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The demand curve _____
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shows the relationship between product demand and product price
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What is the first step an organization takes to estimate its potential sales?
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estimate demand for the entire product category in the market the company serves
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The price elasticity of demand is calculated by ________________.
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dividing percentage change in quantity demanded by percentage change in price
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For a skimming price to be successful, _____________.
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there should be little chance that competitors can get into the market quickly
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When demand is inelastic ______________.
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price and revenue change in the same direction
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___________ are the per unit costs of production that will fluctuate depending on how many units or individual products a firm produces.
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variable costs
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The break even point is the point at which ____________.
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the total revenue and total cost lines intersect
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The two specific forms of demand-based pricing are ____________.
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target costing and yield management pricing
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Marketers like to use penetration pricing for new products to _________.
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discourage competition from entering the market
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Hunting bows are often priced low, and retailers of archery equipment make their profits on high priced arrows, which happen to be a high-margin product in other words, retailers of archery equipment use ______.
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captive pricing
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________ provides a way for marketers to look at cost and demand at the same time and identities the output and the price that will generate the maximum profit.
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marginal analysis
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One of the most important opportunities offered by the internet is _________, where the price can easily be adjusted to meet changes in the marketplace.
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dynamic pricing
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A business that uses price lining is __________.
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using price points to determine its pricing strategy
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Marvin wants to buy a new rifle. He saw just the one he wanted advertised in the newspaper at a very low price. When he went to buy the gun, the store salesperson told Marvin the sale gun was inferior and would not sell it to him. Then the salesperson proceeded to convince Marvin has been victimized by __________.
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a bait-and-switch scheme
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With ___________, a company deliberately sets a low price with the express idea of driving its competition out of business.
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predatory pricing
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Four basic characteristics are used to differentiate services from goods. Which of the following is not one of those basic characteristics?
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responsiveness
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To minimize the potentially negative effects of bad service encounters and to save on labor costs, some service businesses are using _______ that eliminates the need for customers to interact with people.
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disintermediation
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Service _______ means that a service can only tae place at the time the service provider performs it on either the customer or the customers possessions.
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inseperability
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Chiara was so enthusiastic about the band she saw performing at a local club last weekend that she persuaded a large group of friends to go to the club to hear this band on Thursday. Unfortunately, the band’s performance was uninspired and at times off key. The performance differences are due to the ________ characteristic of service.
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variability
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There are numerous entertainers who perform primarily on college and university campuses. These entertainers use their websites to show where they are performing to sell their recordings; and to create interest. In other words, they are all using websites to lessen the problems related to the _______ characteristic of services.
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intangibility
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People most commonly buy the services of a tattoo artist on the weekends. To encourage people to use their services on the weekdays, many tattoo artists adjust prices to influence demand. In other words, they use differing prices to lessen the problems related to the _______ characteristic of services.
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perishability
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marketers_______
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must identify ways of illustrating the benefits of their service will provide to the customer
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An attribute that may be difficult to evaluate even after it has been experienced is a(n) ____________
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credence quality
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__________ is a survey instrument to measure consumers perceptions of a service quality.
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SERVQUAL
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A bank closing one of its branch locations at midday to balance transactions because it is more efficient for the bank, even though it is not convenient for the customers who want to do their banking during the lunch hour, is an example of a gap between:
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consumer expectations and management perceptions
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Two successful service firms, American Express and McDonald’s, have developed written quality goals. This step was taken in an attempt to deal with any gap between
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management perceptions and quality standard set by the firm
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When employees are not delivering customer service at the level specified by their employer, there is a gap between ___________.
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established quality standards and service delivery
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30- 34 are completely unreadable, but here are the answers anyways...
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30. c.) critical incident technique
31. e.) search 32. c.) experience 33. d.) integrated marketing communications 34. b.) encoding |
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A sixty-year old woman, a forty year old woman and a fifteen year old woman would decode a TV ad for an age minimizing makeup (wrinkle cream) differently because _______________
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the subject of the message is not personally relevant to both
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The ad for Maybelline age minimizing makeup in Ladies Home Journal magazine featured actress Melina Kanakaredes and offered readers a $1 off coupon when they try the new makeup. In terms of the communication model, the source of this ad is___________
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Maybelline and its advertising agency
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An ad for Maybelline age minimizing makeup in Ladies Home Journal magazine offered readers a $3 off coupon when they try the new makeup. In terms of the communication model, communication feedback would be indicated by the
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number of people who redeem the coupon
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Within the marketing mix, we call the communication elements that the marketer controls the __________.
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promotion mix
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With which type of marketing communication does the marketer have the greatest level of control?
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advertising
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Although the original users of _______ received word of mouth pitches from customers for free, many companies are now offering free products to consumers (buzz agents) who tell friends about a product or service who in turn purchase this product.
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viral marketing
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________ is a marketing strategy that involves a company ambushing consumers with promotional context in places where the consumers would least expect to see information about a product or service.
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Guerilla marketing
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The key to effective interactive marketing is_________.
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the development of a useful customer database
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A representative from a nationally known cookie manufacturer is distributing samples of a new flavor of cookie that has just been introduced by this company. The cookie manufacturer is implementing the _______ of communications in giving away samples of the cookie.
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sales promotion
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If you visit www.diamondsareforver. Com, you can design your own ring. This site, which is operated by De Beers, then allows you to email a picture of your ring to friends and relatives. This way , they can share in the excitement and be informed of the websites existence. De Beers is using ___________.
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viral marketing
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A professional baseball team just built a new stadium. As the crowds of spectators purchase beverages, the plastic cup and cardboard drink holders have stickers on them promoting upcoming concerts in the new stadium. This type of promotion is called ___________.
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guerilla marketing
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The ________ step in the hierarchy of effects calls for marketers to inform the target market that there is a new brand on the marketing using simple, repetitive advertising in a variety of media
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awareness
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The __________ is the allocation of the promotion budget based on identifying promotional goals allocating enough money to accomplish them
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bottom up budgeting technique
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A company using a push strategy is ___________.
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seeking to move its products through the channel by convincing channel members to offer the products and entice their customers to select these items
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During the introduction stage of the product life cycle ___________
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sales promotion is used to encourage product trial
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Glasis is a type of paint made specifically for use on cars. An ad in Motor Trend magazine advising consumers to request their body shops use Glasis paint is an example of how a company uses ________.
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pull strategy
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a company may identify and use ___to better train employees; these are specific face to face contacts
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critical incident technique
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one of the ways megan determined which day care center to send her children to was by visiting neighboring ones and observing their indoor and outdoor play facilities, the cleanliness of the employees uniform and how well infants were segregated from older children. She was evaluating the day care center using
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search
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when ria hired an interior decorator to redecorate her living room she was not sure she had made the right decision until she saw how gorgeous her newly decorated living room looked. She used_____ qualities to evaluate the designers services
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experience
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Delias is a clothing retailer that targets teenage girls; it runs promotions for its catalogs, its website, and its retail outlets. It uses the same models in catalogs and in its print ads as well as on its website. Delia's works to make sure its public relations activities as well as its sales promotions to harmonize with its advertising in all its venues. From this information, you can inter that Delia's is using _____
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Integrated marketing communications
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The decision to use a cleaning genie to communicate the strength and power of Mr. Clean cleaning liquid is respresentative of the _____ process of the communication model
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encoding
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