Question # 1

________ uses buyers' perceptions of what a product is worth, not the seller's cost, as the key to pricing.

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Value-based pricing

Target costing

Variable costs

Price elasticity

This type of store offers no home deliveries and often accepts no credit cards; however. this type of store does offer ultralow prices and deals on selected branded merchandise. What is it called?

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A superstore

A specialty store

A warehouse club

chain store

All of the following are accurate descriptions of modern marketing today, except which one?

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Marketing is creation of value for customers

Marketing is customer satisfaction at a profit

Selling and advertising are synonymous with marketing

Marketing involves building and managing profitable customer

None of the above statements is true

Current view holds that salespeople should be concerned with producing

customer satisfaction and company profit. So whom do they generally

serve?

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They represent the company to customers

They represent the company to investors

They represent the customer to the company

A and C

Most retailers also charge manufacturers _________ payments demanded by retailers before they will accept new products and find a place for them on the shelves

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slotting fees

private fees

line extension fees

product line fees

In choosing a transportation mode for a product. shippers must balance the considerations of speed. dependability. cost, and ________ .

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weight

customer choice

availability

distance

All of the institutions in a channel are connected by flows:including physical flow, flow of ownership,payment flow, information flow, and _________ flow.

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promotion

acquisition

customer

return product

Desirable qualities for a brand name include all of the following except _______ .

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It should suggest something about the product's benefits and qualities

It should be easy to pronounce, recognize, and remember

The brand should almost always be a long word to get attention

The name should translate easily into foreign languages

This systematic collection and analysis of publicly available information of publicly available information about competitors and developments in the marketing environment is very useful. What is it called?

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Marketing data

Marketing inelligence

Web Master

Sales and sales management

Many marketers believe that _________ and _________ provide the best basis for segmenting business markets.

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geographic location; product type

buying behavior; benefits

political makeup; benefits

buying behavior; revenue

Defining people by their birth date may be less effective than segmenting them by their _________ or __________ .

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income; occupation

lifestyle; occupation

lifestyle; life stage

occupation; life stage

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