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BUSI 520 Quiz 3 – Question and Answers

1. After estimating the demand and costs associated with alternative prices, a company has chosen to price its product in such a way that it gains the highest rate of return on its investment. The company is looking to .
2. An umbrella manufacturing company’s fixed costs are $275,000. The variable cost per unit is $5 and each umbrella is sold at $10. How many units should the firm sell in order to break even?
3.  auctions let would-be suppliers submit only one bid; they cannot know the other bids.
4. In second-degree price discrimination, the seller charges.
5. When Coca-Cola carries a different price depending on whether the consumer purchases it in a fine restaurant, a fast-food restaurant, or a vending machine, then this form of price discrimination is known as pricing.
6. Market skimming pricing makes sense under all the following conditions, EXCEPT if .
7. Costs that differ directly with the level of production are known as costs.
8. JJ pays overhead each month, including his company’s bills for rent, heat, interest, and salaries, which are examples of costs.
9. Which of the following activities is a reverse-flow channel of marketing?
10. General Motors’ executives work for a short time in some dealerships, and some dealership owners work in GM’s dealer policy department. This strategy helps the company avoid conflicts with its dealers. This is an example of the strategy.
11. In a retailer cooperative, .
12. JSE Securities Exchange is the largest stock exchange in Africa. The JSE provides a market where securities can be traded freely under a regulated procedure. The company acts as an intermediary between the traders. JSE is an example of a(n) .
13. What is the trade-off in return for the benefits associated with an integrated multichannel marketing system?
14. Who will most likely be willing to pay for high-value-added channels?
15. Which of the following is true for distributor brands?
16. Distributor brands can be sold at lower prices yet generate a higher profit margin because of their lower cost structure.
17. As inventory draws down, management must know at what stock level to request additional stock. This stock level is called the .
18. American businessman King Gillette pioneered the sales model in which razor handles were given away for free or sold at a loss, but sales of disposable razor blades were very profitable. This is known as the model.
19.  encompass sales forecasting, production planning, and inbound materials transportation.
20. Electronic shopping is a type of .
21. Which of the following is an example of a public relations and publicity communication platform?
22. Which of the following elements of the marketing communications mix involves face-to-face interaction with one or more prospective purchasers for the purpose of making presentations, answering questions, and procuring orders?
23. Gabrielle is the chief marketing officer of Boyd Pharmaceuticals. She is meeting with Trent, the chief financial officer to decide on the company’s marketing communications budget. They decide to trust in the prevailing collective wisdom of the industry as a whole, and not wanting to instigate a communications war, settle on spending only as much as their nearest market rival does on marketing communications. What method did Gabrielle and Trent use to arrive at the marketing communications budget?
24. The most effective communications mix tool at later stages of the buying process is because it is particularly effective at building buyer preference, conviction, and action.
25. Which of the following is a form of mass communications channel?
26. Which of the following steps in the innovation-adoption model of marketing communications corresponds to the cognitive stage that a buyer passes through?
27. Which of the following is a disadvantage of using outdoor media for advertising?
28. Which of the following is a medium of visual identity for a company?
29. When a public relations department of a company advises management about public issues, and company positions and image during good times and bad, it is performing the function of
30. Dante is a media buyer with Shelvey Partners, an ad agency in San Francisco. He is currently working on charting a media plan for the ads of a department store chain to target the upcoming Thanksgiving weekend. Which of the following advertising timing patterns is best suited for running these ads?
31. The easiest measure of marketing public relations effectiveness is the.
32. The predominant response function for advertising is often concave, but when it is S-shaped,
33. some positive amount of advertising is necessary to generate any sales impact, but sales increases eventually flatten out
34. Consumers spend more time on mobile devices than on radio, magazines, and newspapers combined.
35. Faith is a big fan of a popular musical group, so she created a place for other fans to communicate with each other online. Faith created a .
36. operates an international word-of-mouth media network powered by 1 million
37. The bottom rung of the customer loyalty ladder is .
38. Nadya is designing a mobile ad to promote her company’s widgets. Where should the company’s logo appear in the mobile ad?
39. Alduro Chemicals, a manufacturer of detergents, delivers chemicals used for commercial washing to various hoteliers in the United States. Most of the company’s revenue comes from routine orders from its existing customers. The company uses unskilled salespeople to collect requirements from its customers. These unskilled salespeople are known as      .
40. Which of the following tasks of the salesforce refers to conducting market research and doing intelligence work?
41. Which of the following sales positions is most likely to have fixed compensation?
42. Your company has customer-service representatives who provide you with leads, write up proposals, fulfill orders, and provide post-sales support. Your responsibilities are to concentrate on larger accounts with more complex and customized needs. Your company most likely has a salesforce.
43. A company uses sales representatives for selling the company’s more complex and customized products to large accounts while using inside salespeople and Web ordering for low-end selling. Which of the following describes the company’s sales force best?
44. Compensation plans may need to vary depending on the type of salespersons. Which type of salesperson benefits from no ceiling or caps on commissions, overachievement commissions for exceeding quotas, and prize structures that allow multiple winners?
45.  requires that everyone in the organization accept the concepts and goals of marketing and engage in choosing, providing, and communicating customer value.
46.  refers to the ability to meet humanity’s needs without harming future generations.
47. There are three types of product-team structures. These are .
48. Cause marketing has a particularly interesting audience in civic-minded .
49. Suppose the manufacturer pays a commission on every car sold. Then, the salesperson’s commission is classified as a(n) .
50. The software provides a set of Web-based applications that automate and integrate project management, campaign management, budget management, asset management, brand management, customer relationship management, and knowledge management.