Seaport BUS C150 Quiz 4 – 15th Ed.
Seaport BUS C150 Quiz 4- 15th Ed.
1. The type of advertising that seeks to develop initial demand for a newly introduced good service organization person place idea or cause is known as _____ advertising.
2. Persuasive advertising:
reinforces the effect of previous promotional activity.
increases demand for an existing good or service, organization, or other concept.
develops initial demand for a newly introduced product.
is used primarily in the maturity and decline stages of the product life cycle.
3. Coke and Pepsi feature nearly three dozen movie stars athletes musicians and television personalities as spokespeople in their effort to increase cola sales. Such promotional efforts are called:
4. According to studies, consumers respond with suspicion to:
retail price advertisements.
5. Oriental Insurance promotes identity theft insurance with an advertisement that warns of stolen credit cards and falsified social security numbers. Which appeal is being used in this commercial to motivate the viewer to act?
6. Nathan, a teenager, often visits Facebook. If MySpace inserts a link on his Facebook page that redirects him to the MySpace webpage, such ads would be examples of _____.
7. Lack of flexibility compared to other media is the biggest disadvantage of:
8. The number of times a person is exposed to an advertisement during a certain time period is known as:
9. The role of a sales representative in the promotion process has changed from that of persuader to that of:
a technician and expert on product repair.
a process designer.
a consultant and problem solver.
a close friend and confidant.
10. Company executives usually recognize a good salesperson as a worker:
who can solve problems, communicate clearly, and be consistent
who has technical expertise in the product.
who is focused on achieving quick sales and not on establishing long term customer relationships.
who is keen on fostering personal growth.
11. Which of the following is not a function of relationship selling?
Meeting buyer expectations
Improving the level of customer service
Building a mutually beneficial relationship over time
Focusing on meeting the customer?s short-term needs
12. One important advantage of personal selling over most advertising is:
the cost factor; personal selling is much cheaper.
the ability to actually demonstrate the good or service.
the minimal dependence on technology.
the low requirement for skilled salespersons.
13. Many credit cards offer so-called “teaser” rates — low introductory rates that rise after a few months. The use of teaser rates is an example of which type of pricing objective?
Meeting the competition
14. Which market structure best describes the U.S. auto industry?
15. Demand is said to be inelastic when the:
demand curve and the supply curve do not intersect.
total cost and total revenue are equal at all levels of demand.
calculated elasticity of demand is less than 1.
calculated elasticity of demand is greater than 1.
16. Which of the following products will have a high price elasticity of demand?
Daily food items
Life saving drugs
17. The most popular method of pricing is _____ pricing.
18. The breakeven point is the point at which the:
revenue from sales equals the price of the product.
supply curve intersects the demand curve.
total revenue from sales equals the total cost of the product sold.
marginal cost curve intercepts the marginal revenue curve.
19. To distinguish their high-end products from similar products of their competitors, some companies use a _____ pricing strategy.
20. A strategy of offering prices that are consistently lower than those of competitors is called _____ pricing.
21. A product’s market price is ordinarily the:
same as the product?s list price.
list price less any allowances and discounts that may be involved in the purchase.
list price less any discounts and allowances plus any geographic considerations that may apply.
price that consumers pay using a credit card.
22. Which statement best describes allowances?
Allowances are used in conjunction with quantity and cash discounts.
Allowances are the same as transfer prices.
Allowances are offered only to marketing channel members in order to increase sales.
Allowances result in reductions of the monetary price the purchaser pays.
23. An example of a rebate is:
$5 returned by mail after a $100 purchase just for making the purchase.
$3 off a $100 purchase for paying the bill within ten days.
$25 off a $100 purchase because of a trade-in.
$10 off a $100 purchase for buying in quantity.
24. Consumers today perceive that, within price limits, there is:
a need for discounts and incentives.
obvious opportunity for psychological pricing.
a direct relationship between the quality and price of a product.
no perceivable difference in major product brands.
25. Retailers such as Home Depot and Lowe’s, who offer to meet or beat the best price offered by their competitors, use the strategy of _____ pricing.
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