11

12 _____ products are searched for extensively, and substitutes are not acceptable. These

products may be quite expensive, and often distribution is limited.

A Exclusive shopping

b.Homogeneous convenience

c.Branded shopping

d.Specialty

e.Heterogeneous

14 The final price set by the entrepreneur for the products depends on:
A) the desired image for the products.
B) the cost structure.
C) what customer will pay.
D) what competitors are charging.

15 Along with soft drinks, Cadbury-Schweppes also markets Dentyne gum, Sour Patch Kids candy, and
Mott's apple juice. This is an abbreviated listing of the company's:

C) product mix

16) ________ pricing strategy introduces a new product at a low price to gain quick acceptance and
extensive distribution in a mass market.
A) Penetration
B) Skimming
C) Discount
D) Sliding-down-the-demand-curve

17. A consumer who consistently and repeatedly purchases the same brand is said to have:

a) brand loyalty

18) Tom is working on a pricing strategy for his company's new product line. In order to determine the
price ceiling for these products, Tom needs to know:
A) what price range will work best.
B) what his company's cost structures are.
C) what his customers are willing to pay. 
D) what his competitors are charging.
19) A new product ________ pricing strategy is often used in markets with little competition and when
the company seeks to recover start-up costs quickly. 
A) penetration
B) skimming
C) discount
D) sliding-down-the-demand-curve

22 A Boston diamond distributor has developed the first branded diamond called Hearts on Fire to help
smaller retailers counter the volume jewelers' aggressive price discounting. This move is meant to:

c. create a catchy phrase to promote diamonds

23 The two types of package labeling in common usage today are:

a. informational and persuasiveb.

24 a marketing channel strategy is a set of activities focused on designing and managing

B improving a firms sustainable competitive advantage

25 Small business owners get into trouble when determining their price floor when they:
A) focus on what the customer will pay.
B) assume their costs are the same as their competitors'.
C) begin to track financial ratios to determine what they are doing.
D) use the price floor as the minimum price in their acceptable price range.

26 A service cannot be touched, seen, tasted, heard, or felt in the same manner in which goods can be
sensed and, therefore, is referred to as being:
a. impervious
b. extraneous
c. perishable
d. intangible

27 What general term refers to middle channel members in the marketing channel?

A. Intermediaries

28 Which of the following tasks would LEAST likely be conducted by a merchant wholesaler?

b. Producing private-label goods

29 Which term refers to a set of independent organizations involved in the process of making a product
or service available for use or consumption?

C Marketing Channel

30

31 retailers and merchant wholesalers are examples of intermediaries that

A taking title to a product

32 distribution is achieved by screening dealers to eliminate all but a few in any

B selective

33 In which logistical component of the supply chain will you find electronic data interchange a common
feature out of: production scheduling, transportation, order processing, and materials handling.

A. Production scheduling and order processing

34 Toothpaste is sold in grocery stores, service stations, convenience stores, drugstores, discount stores,
and motel vending machines. This is a example of a(n) _____ distribution strategy.
a.exclusive

b.reciprocal

c.selective

d.horizontal

e.intensive

35  is an institution that buys goods from manufacturers and resells them to businesses, government
agencies, other wholesalers, or retailers

a.  merchant wholesaler

36.  Joseph Confectionery has decided to start marketing a line of Christian-oriented candy under the
Testamint brand name. The candy maker is optimistic about establishing the brand in the marketplace
and has high hopes of its success. As a marketing consultant, you inform the candy maker that branding
can do all of the following EXCEPT:

b. ensure a higher margin of profit 

37 Department Stores, Discount Stores, Convenience Stores, Super markets, Superstores, Hypermarket,
Warehouse Clubs

B product distrutors

38 labels that contain standard promotional claims like "new," "improved," and "super" are examples of
_____ labels.

d. Persuasive

39

40 Sony produces televisions and computers and sells them through electronics stores. In a marketing
channel, Sony would best be described as a _____?

B Manufacturer

41 ____ is defined as all activities directly related to the sale of goods and services to the ultimate
consumer for personal, nonbusiness use or consumption.

b. Retailing

44 Manufacturers are LEAST likely to use intermediaries to:

B .Manage production levels

45