Question 1

Carlotta owns and manages the Carlite Car Wash.She charges $8 per car wash.Her fixed costs are $600 per month,while her variable costs per car wash amount to $2.Carlotta must wash 60 cars to break even.

Accepted Answer

A) True 
 B)False

Question 2

In recent years,the packaging of products has been given a greater role in product promotion.

Accepted Answer

A) True 
 B)False

Question 3

Manufacturers are usually able to perform marketing functions such as transporting,advertising,and storing,faster and more cheaply than marketing intermediaries.

Accepted Answer

A) True 
 B)False

Question 4

________ refers to any information about a product or an organization that is communicated to the public through the media and is not paid for by the sponsor.

Accepted Answer

A)  A market presentation
B)  Promotion
C)  Public relations
D)  PublicityE) B) and C)
F) A) and D)

Question 5

When people consider purchasing a good,they:

Accepted Answer

A)  are responding to the market forces of supply and demand.
B)  are most influenced by the price of the product or service.
C)  will not consider goods that require them to make a special effort to purchase.
D)  may evaluate and compare a variety of factors.E) B) and D)
F) C) and D)

Question 6

Brand loyalty refers to the degree to which customers are satisfied with a brand and are committed to further purchases.

Accepted Answer

A) True 
 B)False

Question 7

One way firms can gain a competitive advantage without relying on low prices is by developing close,friendly relationships with their customers.

Accepted Answer

A) True 
 B)False

Question 8

Low prices can help retailers create an attractive total product offer.

Accepted Answer

A) True 
 B)False

Question 9

Today,packaging is:

Accepted Answer

A)  the least important component of the marketing mix.
B)  assuming an increasingly important role in the promotion of products.
C)  exclusively intended to protect the product from damage.
D)  the most expensive component of the production process.E) A) and B)
F) B) and C)

Question 10

Today's public relations departments:

Accepted Answer

A)  focus more on advertising and less on publicity.
B)  are downsizing as firms emphasize personal selling to promote their products.
C)  are more actively listening to customers and helping to solve their problems.
D)  avoid relationships with the media and government officials.E) B) and C)
F) A) and C)

Question 11

Successful firms maintain consistency in the short-run and long-run pricing objectives.

Accepted Answer

A) True 
 B)False

Question 12

The trend towards large,self-service retailers has increased the importance of packaging.

Accepted Answer

A) True 
 B)False

Question 13

Brand value is based on the costs of developing and maintaining a brand in the marketplace.

Accepted Answer

A) True 
 B)False

Question 14

_________ refers to any paid,non-personal message communicated through various media by organizations who are in some way identified in the message.

Accepted Answer

A)  Publicity
B)  Promotion
C)  Public relations
D)  AdvertisingE) All of the above
F) B) and C)

Question 15

A _________ is a marketing intermediary that sells to other organizations.

Accepted Answer

A)  wholesaler
B)  retailer
C)  broker
D)  jobberE) A) and C)
F) All of the above

Question 16

The degree to which customers are satisfied and are committed to future purchases of a desired brand is called:

Accepted Answer

A)  brand awareness.
B)  brand relations.
C)  brand loyalty.
D)  brand intensity.E) None of the above
F) B) and D)

Question 17

Price leadership is a demand-based pricing strategy.

Accepted Answer

A) True 
 B)False

Question 18

One of the reasons why companies created the position of brand manager was to:

Accepted Answer

A)  have greater control over new product development and promotion.
B)  cut expenses associated with the marketing of products.
C)  limit the amount of market research expenses products required.
D)  identify and prosecute firms that violate trademark protection.E) A) and D)
F) None of the above

Question 19

Felicia wants to know how many units she must sell to cover all of her costs.She indicates to you that her selling price is $20 per units,her fixed costs are $6,000,and the variable costs per unit are $15 per unit.What is her break-even point?

Accepted Answer

A)  300 units
B)  400 units
C)  1,200 units
D)  1,100 unitsE) A) and B)
F) A) and C)

Question 20

Either reducing fixed or variable costs will reduce the break-even point.

Accepted Answer

A) True 
 B)False

Exam 15: Managing the Marketing Mix: Product, Price, Place, and Promotion

Brand value is based on the costs of developing and maintaining a brand in the marketplace.

Correct AnswerverifiedShow Answer

________ refers to any information about a product or an organization that is communicated to the public through the media and is not paid for by the sponsor.

Correct AnswerverifiedShow Answer

Price leadership is a demand-based pricing strategy.

Correct AnswerverifiedShow Answer

_________ refers to any paid,non-personal message communicated through various media by organizations who are in some way identified in the message.

Correct AnswerverifiedShow Answer

One way firms can gain a competitive advantage without relying on low prices is by developing close,friendly relationships with their customers.

Correct AnswerverifiedShow Answer

In recent years,the packaging of products has been given a greater role in product promotion.

Correct AnswerverifiedShow Answer

Carlotta owns and manages the Carlite Car Wash.She charges $8 per car wash.Her fixed costs are $600 per month,while her variable costs per car wash amount to $2.Carlotta must wash 60 cars to break even.

Correct AnswerverifiedShow Answer

Manufacturers are usually able to perform marketing functions such as transporting,advertising,and storing,faster and more cheaply than marketing intermediaries.

Correct AnswerverifiedShow Answer

The degree to which customers are satisfied and are committed to future purchases of a desired brand is called:

Correct AnswerverifiedShow Answer

Today,packaging is:

Correct AnswerverifiedShow Answer

When people consider purchasing a good,they:

Correct AnswerverifiedShow Answer

A _________ is a marketing intermediary that sells to other organizations.

Correct AnswerverifiedShow Answer

Felicia wants to know how many units she must sell to cover all of her costs.She indicates to you that her selling price is $20 per units,her fixed costs are $6,000,and the variable costs per unit are $15 per unit.What is her break-even point?

Correct AnswerverifiedShow Answer

Today's public relations departments:

Correct AnswerverifiedShow Answer

Low prices can help retailers create an attractive total product offer.

Correct AnswerverifiedShow Answer

Either reducing fixed or variable costs will reduce the break-even point.

Correct AnswerverifiedShow Answer

Brand loyalty refers to the degree to which customers are satisfied with a brand and are committed to further purchases.

Correct AnswerverifiedShow Answer

The trend towards large,self-service retailers has increased the importance of packaging.

Correct AnswerverifiedShow Answer

Successful firms maintain consistency in the short-run and long-run pricing objectives.

Correct AnswerverifiedShow Answer

One of the reasons why companies created the position of brand manager was to:

Correct AnswerverifiedShow Answer

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