SAINT MKT301 MODULE 5 QUIZ 3

Which of the following is most likely a manufacturer-sponsored retailer franchise system?

International fast food chains like McDonalds and Pizza Hut

Starbucks outlets operating within Target stores

Toyota and its network of independent franchised dealers

Licensed bottlers that bottle and sell soft drinks to retailers

Hotel chains like the Ritz Carlton and Shangri-La (Page Ref: 347)

Points Received: 5 of 5

Comments:

Question 2. Question :

Ford and its network of independent franchised dealers is an example of a __________.

manufacturer-sponsored retailer franchise system

manufacturer-sponsored wholesaler franchise system

service-firm-sponsored retailer franchise system

service-firm-sponsored equity strategic alliance

manufacturer-and-service-sponsored joint venture (Page Ref: 346)

Points Received: 5 of 5

Comments:

Question 3. Question :

Which of the following is an advantage of adding new channels in a multichannel distribution system?

Limiting market complexity

Reducing control over the system

Expanding sales and market coverage

Decreasing marketing needs and costs

Minimizing mass customization of products (Page Ref: 349)

Points Received: 5 of 5

Comments:

Question 4. Question :

George is buying his first house. He has spent a month looking at houses and comparing them on attributes such as price and location. He has contacted several real estate agents to look at different types of houses. George is most likely exhibiting __________.

variety-seeking buying behavior

complex buying behavior

consumer capitalism

dissonance-reducing buying behavior

marketing myopia (Page Ref: 150)

Points Received: 5 of 5

Comments:

Question 5. Question :

A particular automobile company works to keep its customers happy after each sale, aiming to delight each one of them in order to increase their customer lifetime value. Which of the following steps of the buyer decision process does the company exemplify?

Need recognition

Information search

Evaluation of alternatives

Purchase decision

Post-purchase behavior (Page Ref: 155

POOL 3)

Points Received: 5 of 5

Comments:

Question 6. Question :

Relative advantage, compatibility, complexity, divisibility, and communicability are all characteristics of __________.

alternative evaluations

the degree of buyer involvement

a product's rate of adoption

unexpected situational factors

postpurchase behaviors (Page Ref: 157-158)

Points Received: 5 of 5

Comments:

Question 7. Question :

Which type of retailer is most likely to require its employees to focus most on assisting customers as they shop?

Self-service retailer

Full-service retailer

Off-price retailer

Limited-service retailer

Convenience retailer (Page Ref: 376)

Points Received: 5 of 5

Comments:

Question 8. Question :

Multiprint, a printer manufacturing firm, sells ink cartridges for each of its specific models. Only Multiprint cartridges are compatible with Multiprint printers, and no two of the firm's models share the same specifications. What type of pricing does Multiprint use?

Product line pricing

Optional product pricing

Captive product pricing

By-product pricing

Product bundle pricing (Page Ref: 316)

Points Received: 5 of 5

Comments:

Question 9. Question :

Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of __________.

competition-based pricing

everyday low pricing

cost-plus pricing

break-even pricing

penetration pricing (Page Ref: 293)

Points Received: 5 of 5

Comments:

Question 10. Question :

Department stores such as Kohl's and Macy's practice high-low pricing by __________.

charging a constant, everyday low price

providing few or no temporary price discounts

increasing prices temporarily on select products

having frequent sale days for store credit card holders

underpricing most consumer items (Page Ref: 293)

Points Received: 5 of 5

Comments:

Question 11. Question :

Competitors are most likely to react to a price change when __________.

a large number of competitors are involved

the product is uniform

the buyers are not well informed about product features

buyers are not well informed about price differences

the products are not uniform (Page Ref: 326)

Points Received: 5 of 5

Comments:

Question 12. Question :

Most companies are started by individuals who live by their wits. They visualize an opportunity, take risks, and knock on every door to gain attention. Which of the following stages in marketing strategy is being illustrated here?

Exponential marketing

Formulated marketing

Entrepreneurial marketing

Affinity marketing

Ambush marketing (Page Ref: 535

POOL 5)

Points Received: 5 of 5

Comments:

Question 13. Question :

When a competitor cuts its price, a company should __________ if it believes it will not lose much market share or would lose too much profit by cutting its own prices.

reduce its production costs

reduce its marketing costs

maintain its current prices and profit margin

increase its marketing budget to raise the perceived value of the product

increase its production costs to improve the quality of the product (Page Ref: 327)

Points Received: 0 of 5

Comments:

Question 14. Question :

A university enrolled 200 graduate students in the Fall of 2011. However, the enrollment rate was only slightly affected following a 12 percent hike in tuition the following Fall. This illustrates a(n) __________ demand.

derived

negative

highly elastic

composite

inelastic (Page Ref: 168

POOL 6)

Points Received: 5 of 5

Comments:

Question 15. Question :

Canine Couture is launching a new line of hand-stitched doggy duds made from silk, cashmere, and linen. Couture has intentionally limited production and set prices for the new line at about four times the average price for other pet clothes in hopes of creating a prestige line. What pricing strategy is Canine Couture using?

Cost-plus

Value-added

Product line

Skimming

Segmented

Points Received: 5 of 5

Comments:

Question 16. Question :

What concept does the following formula “percent of change in quantity divided by the percent of change in price” represent?

Breakeven

Contribution margin

Price mark-up

Elasticity

Marginal analysis

Points Received: 5 of 5

Comments:

Question 17. Question :

Sam was visiting her grandparents during Spring Break and was appalled when they insisted on going to dinner at 5:30 to get the Early Bird Specials. What type of pricing strategy is making Sam insane?

Value-added

Everyday low prices

Skimming

Segmented

Cost-plus

Points Received: 5 of 5

Comments:

Question 18. Question :

John and Robin run a small, but trendy, craft beer and pizza restaurant in a part of town that has a number of nighttime and dining options. The couple are discussing raising their prices on their “pint and slice” after-work special; however, they are concerned that their customers may decide that the new price is too high and sales will drop. What pricing concept is worrying John and Robin?

Consumer constructivism

Everyday low prices

Elasticity

Skimming

Cost-plus

Psychological pricing

Points Received: 0 of 5

Comments:

Question 19. Question :

Reindeer Games, a new Christmas-themed video, pizza, and ice cream restaurant targeting families with young children, is located in an area that is also home to Chucky Cheese and a bounce activity center. As both of the latter are well established, the owner of Reindeer Games decided to launch her business with pricing on games and pizza parties about 20% lower than her competitors. What pricing strategy is Reindeer Games using for their launch?

Value-added

Everyday low prices

Penetration

Skimming

Segmented

Cost-plus

Question 20. Question :

Cats and Rats is a tablet game that allows players to be one or the other and try to outsmart their opponents. In order to win, the players need an occasional energy boost in the form of a nap, which is free, or the player can pay for Cat Treats or Cheese Nibbles for their cat or rat. What form of pricing is this?

Penetration

Value-added

Freemium

Skimming

Segmented

Points Received: 0 of 5

Comments: