PowerPoint Presentation

The path a product takes from producer or manufacturer to the final user or customer is called the:Product passagewayChannel of DistributionDistribution intensityRetail channel

The path a product takes from producer or manufacturer to the final user or customer is called the:

Channel of Distribution

What is the distribution considered when one or more intermediaries or middlemen are involved in a channel of distribution.DirectSelectiveIndirectExclusive

What is the distribution considered when one or more intermediaries or middlemen are involved in a channel of distribution.

Indirect

Physical distribution is also known as:ProductionStorageLogisticsInventory Control

Physical distribution is also known as:

Logistics

What type of transportation is convenient and can facilitate rapid deliveries:RailAirTruckingWater

What type of transportation is convenient and can facilitate rapid deliveries:

Trucking

What is a primary reason that businesses use intermediaries in the distribution process?There are fewer costs involved when using an intermediaryIntermediaries often possess expertise that producers dont haveThe use of intermediaries is more challenging.There are no risks involved

What is a primary reason that businesses use intermediaries in the distribution process?

Intermediaries often possess expertise that producers dont have

Which of the following is a benefit of channels of distribution:We can more easily obtain products from all over the worldProducers must spend more moneyRetailers must spend more moneyWe spend more time looking for what we want

Which of the following is a benefit of channels of distribution:

We can more easily obtain products from all over the world

Where does the channel of distribution begin?With the industrial userWith the ultimate consumerWith the producerWith the intermediary

Where does the channel of distribution begin?

With the producer

The Marketing Mix (4 P's) include: A. Place, Price, Publicizing, Positioning B. Price, Place, Promotion, Product C. Product, Publicizing, Place, Price D. Promotion, Product, Planning, Publicizing

The Marketing Mix (4 P's) include:

B. Price, Place, Promotion, Product

Deciding how, where, and to whom products need to be sold to reach the Consumer is called __________. A. Exchange B. Distribution C. Promotion D. Service

Deciding how, where, and to whom products need to be sold to reach the Consumer is called __________.

B. Distribution

The Following is an Example of what Utility:"The company created a specification sheet on the box as a way to tell customers about its product." A. Price B. Information C. Benefit D. Possession

The Following is an Example of what Utility:"The company created a specification sheet on the box as a way to tell customers about its product."

B. Information

A product that can be stored. Generally considered to be tangible. A. Good B. Possession C. Time D. Utility

A product that can be stored. Generally considered to be tangible.

A. Good

The Following is an Example of what Utility:"I am not able to make it to the store before it closes each day. Fortunately, I can make my purchases online with a bank card." A. Good B. Possession C. Time D. Utility

The Following is an Example of what Utility:"I am not able to make it to the store before it closes each day. Fortunately, I can make my purchases online with a bank card."

B. Possession

A product that cannot be stored. It is generally considered to be in-tangible. A. Exchange B. Distribution C. Promotion D. Service

A product that cannot be stored. It is generally considered to be in-tangible.

D. Service

Concerning Behavioral Segmentation: Which rule is true for most businesses? A. As prices increase demand also rises. B. Marketing is a companys highest cost. C. 80% of the sales are made by 20% of the customers. D. Very few decisions are driven by Marketing.

Concerning Behavioral Segmentation: Which rule is true for most businesses?

C. 80% of the sales are made by 20% of the customers.

Activities that work together to get goods and services from producers to consumers A. Functions of Marketing B. Producers C. Financing D. Sales Activities that work together to get goods and services from producers to consumers

A. Functions of Marketing Getting the money necessary to operate a business A. Producers B. Functions of Marketing C. Financing D. Sales

Getting the money necessary to operate a business

C. Financing

Getting information to make sound business decisions A. Functions of Management B. Goods C. Marketing Information Management D. Services

Getting information to make sound business decisions

C. Marketing Information Management

Marketing adds Utility to products and services. A. True B. False

Marketing adds Utility to products and services.

A. True

The Following is an Example of what Utility:"I am planning a trip to Australia during winter break. It is now November and I cant find a swimming suit." A. Good B. Possession C. Time D. Utility

The Following is an Example of what Utility:"I am planning a trip to Australia during winter break. It is now November and I cant find a swimming suit."

C. Time

What is the group that decides whether or not a business will survive? A. the consumers B. the owners or board of directors C. the government D. the competing businesses

What is the group that decides whether or not a business will survive?

A. the consumers

Focus all marketing efforts on a specific group of customers. A. Market Segmentation B. Target Market C. Customer Profile D. Behavioral Segmentation Focus all marketing efforts on a specific group of customers.

B. Target Market

Which of the four Ps of marketing effects the Location and Transportation of the product? A. Place B. Planning C. Pricing D. Promotion

Which of the four Ps of marketing effects the Location and Transportation of the product? A. Place

__________ are those people who actually use the product. A. Psychographics B. Consumers C. Customers D. Geographics

__________ are those people who actually use the product.

B. Consumers

The Following is an Example of what Utility:"I could either buy some pre-made brownies or buy the separate ingredients and make them myself."

D. Form

A combination of four strategies that management uses to market a product and achieve organizational goals. A. Marketing Mix B. Psychographics C. Customer Profile D. Marketing Concept

A combination of four strategies that management uses to market a product and achieve organizational goals.

A. Marketing Mix

Segmentation based on personal characteristics. A. Geographics B. Customer Profile C. Demographics D. Market Segmentation

Segmentation based on personal characteristics. C. Demographics Analyzing a market by specific characteristics to define a target market. A. Geographics B. Customer Profile C. Demographics D. Market Segmentation

Analyzing a market by specific characteristics to define a target market.

D. Market Segmentation

Segmentation based on lifestyles, attitudes, and values. A. Psychographics B. Consumers C. Customers D. Geographics

Segmentation based on lifestyles, attitudes, and values.

A. Psychographics

What is the term for the phrase "Companies sell what Customers want." A. Marketing Mix B. Psychographics C. Customer Profile D. Marketing Concept

What is the term for the phrase "Companies sell what Customers want."

D. Marketing Concept

Which of the following are the Economic Benefits of Marketing? A. Quality Products, Higher Prices, and Lower Utility. B. New and Improved Products, Lower Prices, and Adds Value. C. Inexpensive Products, Higher Prices, and Higher Value. D. Fewer Products, Lower Prices, and Higher Utility.

Which of the following are the Economic Benefits of Marketing?

B. New and Improved Products, Lower Prices, and Adds Value.

Which Utility is a function of Production and not Marketing? A. Form B. Place C. Time D. Possession

Which Utility is a function of Production and not Marketing?

A. Form

What type of market has been narrowed down and defined with extreme precision? A. Segment Market B. Mass Market C. Niche Market D. Product Market

What type of market has been narrowed down and defined with extreme precision?

C. Niche Market

Who are all of the people that are willing and able to purchase a product? A. Market B. Demographic C. Niche D. Utility

Who are all of the people that are willing and able to purchase a product?

A. Market

Which of the following is an example of a primary data source:A sales invoiceA call reportAn expense reportA market-research survey

Which of the following is an example of a primary data source:

A market-research survey

Which of the following is an example of a secondary data source:A focus groupA warranty cardAn Internet surveyA customer interview

Which of the following is an example of a secondary data source:

A warranty card

Which of the following data might a business learn from its customers:Data about buying habitsMarket share dataFinancial data about competitorsData about traveling expenses

Which of the following data might a business learn from its customers:

Data about buying habits

Where is the best place to start looking for data about competitors?The companys internal financial recordsThe companys call reportsThe companys web siteThe local newspaper

Where is the best place to start looking for data about competitors?

The companys web site

If marketers do not have enough secondary data available to meet the company needs, they mustConduct primary researchCreate dataWait until secondary data appearFind a new project

If marketers do not have enough secondary data available to meet the company needs, they must

Conduct primary research

Most companies consider the most valuable source of secondary data to beSales volume analysisWarranty cardsExpense reportsSales invoices

Most companies consider the most valuable source of secondary data to be

Sales invoices

Which is the following data are likely to be found in a businesss customer recordsLodging and food expensesPersonal financial dataAnnual purchases and product usageSales in relation to prior time periods

Which is the following data are likely to be found in a businesss customer records

Annual purchases and product usage

The data needed for sales volume analyses and market share analyses come fromCompany sales reportsExpense reportsSales invoicesCustomer records

The data needed for sales volume analyses and market share analyses come from

Company sales reports

Cedric has just spent $150 taking a potential customer out to dinner. He will submit this data in a(n):Sales invoiceExpense reportCall reportWarranty card

Cedric has just spent $150 taking a potential customer out to dinner. He will submit this data in a(n):

Expense report

Since not every sales call results in a sale, its important for salespeople to track customer contacts inCall reportsWarranty cardsSales invoicesSales reports

Since not every sales call results in a sale, its important for salespeople to track customer contacts in

Call reports

The future service a customer expects for a certain product is data likely to be foundIn an expense reportIn a sales reportOn a sales invoiceOn a warranty card

The future service a customer expects for a certain product is data likely to be found

On a warranty card

Which of the following activities helps managers to make smart decisions regarding the problems and opportunities facing their businesses:Conducting marketing researchAdvertisingHiring new employeesProviding customer service

Which of the following activities helps managers to make smart decisions regarding the problems and opportunities facing their businesses:

Conducting marketing research

Researchers are studying a companys past sales invoices as part of their current marketing-research project. The sales invoices are examples ofRelevant variablesSecondary dataPrimary dataUnits of analysis

Researchers are studying a companys past sales invoices as part of their current marketing-research project. The sales invoices are examples of

Secondary data

Researchers are conducting focus groups as part of their current marketing-research project. The results of these focus groups are examples ofRelevant variablesSecondary dataPrimary dataUnits of analysis

Researchers are conducting focus groups as part of their current marketing-research project. The results of these focus groups are examples of

Primary data

An advantage of using secondary data in a marketing-research project is that they areMore relevant than primary dataMore up-to-date than primary dataLess likely to be available to competitorsLess expensive to collect than primary data

An advantage of using secondary data in a marketing-research project is that they are

Less expensive to collect than primary data

An advantage of using primary data in a marketing-research project is that they areEasier to collect than secondary dataQuicker to collect than secondary dataUsually more up-to-date than secondary dataLess expensive to collect than secondary data

An advantage of using primary data in a marketing-research project is that they are

Usually more up-to-date than secondary data

Which of the following is the most popular data-collection method:ExperimentObservationSurveySituation analysis

Which of the following is the most popular data-collection method:

Survey

Which of the following is a requirement for good decision making:a college degreeat least three optionsmoneydata

Which of the following is a requirement for good decision making:

data

Which of the following pieces of data give a wealth of information about a customer:A trade journalA sales invoiceAn expense reportA sales report

Which of the following pieces of data give a wealth of information about a customer:

A sales invoice

Having appropriate data helps marketers to set goals that areOpen-endedRealisticGeneraldifficult

Having appropriate data helps marketers to set goals that are

Realistic

Determining an exchange price which is acceptable to buyer and seller of a product or service is calledpricing place decisionpromotionproduct decision

Determining an exchange price which is acceptable to buyer and seller of a product or service is calledpricingThe amount of money a buyer is willing to pay and a seller is willing to accept for a product or service is called

demandmarkdownsvalue exchange price

The amount of money a buyer is willing to pay and a seller is willing to accept for a product or service is calledexchange price

Sellers must carefully set prices in order for buyers to feel they are receiving ________________value for their money.no littleminimum optimum

Sellers must carefully set prices in order for buyers to feel they are receiving ________________value for their money. optimum

Which of the following statements are true if customers feel they are not getting the most value for the money?

Sales increaseCustomers purchase moreCustomers spend elsewhereSales remain the same

Which of the following statements are true if customers feel they are not getting the most value for the money?

Customers spend elsewhere

Can prices be set too low?Yes; quality may be perceived as being too lowYes; quality may be perceived as being too highNo; the lower the price the, the greater its appealNo; the lower the price, the more a customer is likely to buy

Can prices be set too low?Yes; quality may be perceived as being too low

Many customers associate price with ______________.qualitycomfortdiscountslocation

Many customers associate price with ______________.

quality

The housing market has slowed due to the economy, so many homebuilders begin to lower their prices. Which type of pricing do these builders have?

realisticcompetitiveflexibleinflexible

The housing market has slowed due to the economy, so many homebuilders begin to lower their prices. Which type of pricing do these builders have?

flexible

A gas station begins to offer gasoline for 3cents less per gallon. Other stations begin to lower their prices also. This is an example of __________________ pricing.inflexible competitiveunrealisticrealistic

A gas station begins to offer gasoline for 3cents less per gallon. Other stations begin to lower their prices also. This is an example of __________________ pricing.competitive

To correctly set prices, businesses must price the physical product and all of its associated _____________.

featuresphysical characteristicsservicesvalue

To correctly set prices, businesses must price the physical product and all of its associated _____________.

physical characteristics

A business owner would be responsible for setting the prices at which of the following?Wal-MartJava Joes Coffee ShopSearsMacys

A business owner would be responsible for setting the prices at which of the following?Java Joes Coffee Shop

Which business would most likely assign pricing duties to a separate department?

Small boutiqueChain storeLocal clothing storeHair salon

Which business would most likely assign pricing duties to a separate department?

Chain store

Deciding which goods, services, or ideas to produce or sell is known as making ______________ decisions.

pricingpromotionplaceproduct

Deciding which goods, services, or ideas to produce or sell is known as making ______________ decisions.

product

Does pricing affect the amount of money a business spends on research?No; companies spend large sums on research no matter the products price.No; there is no correlation between the two.Yes; companies will not spend as much on research if the product is low priced.Yes; companies spend more on the lower priced products.

Does pricing affect the amount of money a business spends on research?Yes; companies will not spend as much on research if the product is low priced.

Using higher quality materials in a product tends make the price be

reducedhigherthe samelower

Using higher quality materials in a product tends make the price be

higher

Can pricing affect a businesss image?

Yes; lower prices tend to have a discount image.Yes; lower prices give a prestigious image.No; pricing does not affect a businesss imageNo; pricing affects only selling and customer decisions

Can pricing affect a businesss image?

Yes; lower prices tend to have a discount image.

Informing, persuading, or reminding customers about their products is called

product planningpricingpromotionplace

Informing, persuading, or reminding customers about their products is called

promotion

Which area of promotion will pricing affect?

Transportation channelsWhere the product is offeredAdvertising budgetMaterials used in production

Which area of promotion will pricing affect?

Advertising budget

Which of the marketing mix elements involve shipping, handling, and storing product?PromotionProductPricingPlace

Which of the marketing mix elements involve shipping, handling, and storing product?Place

Pricing decisions influenced by company goals are called

Advertising goalsproduct strategiesTransportation goalspricing objectives

Pricing decisions influenced by company goals are calledpricing objectives

Covering costs is a pricing objective related to

ProfitabilitycompetitionSalesimage

Covering costs is a pricing objective related to

Profitability

Your friend agrees to sell you his Ipod for $100. $100 is the Ipods

cost of goodscash flowselling priceprofit

Your friend agrees to sell you his Ipod for $100. $100 is the Ipods

selling price

Which of the following is a true statement?

Only certain types of products have selling prices.Selling prices are easy to determine.Selling prices for products remain the same over time.There are many kinds of selling prices for goods and services.

Which of the following is a true statement?

There are many kinds of selling prices for goods and services.

Selling price must accomplish all but which of the following?

Maintain market sharePay all operating costs.Pay all costs of the product.Obtain a profit.

Selling price must accomplish all but which of the following?

Maintain market share

The selling prices of products and services help customers tomake buying decisions.

Selling price helps customers allocate their disposable income, because price determines what they need to purchase.the quality of all goods and services.the value of products to purchasers.what customers can afford.

Selling price helps customers allocate their disposable income, because price determines what customers can afford.

If a store buys pants for $25, then sells them for $40, the difference is known ascapital.demand.mark-up.elasticity.

If a store buys pants for $25, then sells them for $40, the difference is known as

mark-up.

True or False; Marketing objectives and pricing objectives have no connection.True; marketing and pricing are independent of each other. False; marketing objectives are based on pricing objectives.True; some businesses do not need marketing objectives.False; pricing objectives should be used to achieve marketing objectives.

True or False; Marketing objectives and pricing objectives have no connection.False; pricing objectives should be used to achieve marketing objectives.

Which of the following statements are true about pricing objectives?They must be changed each fiscal year.They must be adjusted from time to time.They are created for the life of the business.They are not affected by the changing business environment.

Which of the following statements are true about pricing objectives?They must be adjusted from time to time.

Using sales-oriented pricing objectives probably means the business wants to increase thecosts of the marketing efforts.amount of promotion it uses.total amount of income from sales.inefficiency of human resources.

Using sales-oriented pricing objectives probably means the business wants to increase thetotal amount of income from sales.

Selling products at a lower price than competitors will not make a profit unlessinventory is reduced.cost are controlled.there is increased promotion.staff is added.

Selling products at a lower price than competitors will not make a profit unlesscost are controlled.

Obtaining, maintaining, or increasing market share is important because

a large market share ensures large profits.customers need to know what the market share is.market share can serve as a measurement of success.without increased market share, a business cannot succeed.

Obtaining, maintaining, or increasing market share is important because

market share can serve as a measurement of success.

Using profit-oriented pricing is a sign a business wants to

earn a reasonable profit.reduce return on investment.make as much profit as possible.create a negative cash flow.

Using profit-oriented pricing is a sign a business wants to

earn a reasonable profit.

Earning back a percentage of profit, based on the amount put into a business, is a pricing objective know aspercentage pricing.return on sales.unfair trade practices.return on investment.

Earning back a percentage of profit, based on the amount put into a business, is a pricing objective know asreturn on investment.

When under government regulation, a business may set a target profit return because it

needs to high profits.are not allowed to earn reasonable profits.must abide by unfair trade practices.may be investigated for high profits.

When under government regulation, a business may set a target profit return because it

may be investigated for high profits.

Businesses must recover their costs so they

can pay lower taxes. can maximize their losses.can stay in business.can avoid government regulation.

Businesses must recover their costs so they

can stay in business.

Ups and downs in the economy are known asgrowth periods.profit cycles.business cycles.recessions.

Ups and downs in the economy are known asbusiness cycles.