BA 370 Final Exam (Gaffen) Questions
With cost-based pricing methods, prices are usually set on the basis of: -
ANSWER estimates of average costs
Maggie makes customer jewelry and can only make small quantities. Maggie
would probably not use market penetration because: - ANSWER She could not
meet a quick increase in demand spurred by penetration pricing.
Loreal has several lines of make-up. They have NYX brand mascara which retails
for $3.95. Loreal also owns Maybelline which sells mascara for $12.99. Finally,
Loreal offers Georgio Armani mascara for $39. Each of the brands targets a
distinct segment of consumers. Loreal uses a ____________ approach. - ANSWER
Price lining
Kopari makes coconut-based natural deodorant. One way to quickly capture as
much of the market as possible, Kopari will likely use which pricing strategy? -
ANSWER Penetration
Acme petroleum owns dozens of gas stations in a medium-sized town. Acme
lowers the price of gasoline to variable cost for 18 months in order to drive out
competitors. Acme slowly buys up the out-of-business competitors and
eventually raises the price of gasoline to significantly higher the variable costs.
This is known as: - ANSWER Predatory pricing
Integrated Marketing Communications (IMC) - ANSWER Represents the
dimension of the four Ps. It encompasses a variety of communication disciplines
IN COMBINATION to provide clarity, consistency, and maximum communicative
impact.
Three elements in any IMC strategy - ANSWER 1. the consumer
2. the channels through which the message is communicated
3. the evaluation of the results of the communication
The AIDA Model - ANSWER 4 stages in the consumer buying process. in each
stage the consumer makes judgments about whether to take the next step or
not.
Four factors of the AIDA model - ANSWER Awareness, Interest, Desire, Action
, The AIDA Model is also known as the __________, __________, and ___ Model. -
ANSWER Think (awareness), Feel (interest, desire), and do (action)
Aided Recall - ANSWER When consumers indicate they know a brand when the
name is presented to them.
Top-of-Mind Awareness - ANSWER the highest level of awareness, occurs when
consumers mention a specific brand name first when they are asked about a
product or service.
The ultimate goal of any marketing communication is to drive the receiver to
__________. - ANSWER action
The Lagged Effect - ANSWER a delayed response to a marketing
communications campaign. It generally takes several exposures to a campaign
before a consumer fully processes the message.
Public Relations (PR) - ANSWER the organizational function that manages the
firms communication to achieve a variety of objectives, including building and
maintaining positive relationship with the media. PR is free media attention.
Sales Promotion - ANSWER special incentives or excitement-building programs,
such as coupons, rebates, contests, free samples, and POP displays, that
encourage the purchase of a product or service.
Personal Selling - ANSWER the two-way flow of communication between a buyer
and a seller that is designed to influence the buyers purchase decision.
important channel in many IMC programs, especially in B2B settings
___________ ___________ is the best and most efficient way to sell certain
products and services. - ANSWER Personal selling
Direct Marketing - ANSWER marketing that communicates directly with target
customers to generate a response or transaction.
Direct marketing retailers try to __________ their customers carefully so they will
be more receptive to their message - ANSWER target
Objective-and-task Method - ANSWER determines the budget required to
undertake specific tasks to accomplish communication objectives
three Rule-of-thumb Methods - ANSWER 1. competitive parity method
2. percentage-of-sales method
3. available budget method
With cost-based pricing methods, prices are usually set on the basis of: -
ANSWER estimates of average costs
Maggie makes customer jewelry and can only make small quantities. Maggie
would probably not use market penetration because: - ANSWER She could not
meet a quick increase in demand spurred by penetration pricing.
Loreal has several lines of make-up. They have NYX brand mascara which retails
for $3.95. Loreal also owns Maybelline which sells mascara for $12.99. Finally,
Loreal offers Georgio Armani mascara for $39. Each of the brands targets a
distinct segment of consumers. Loreal uses a ____________ approach. - ANSWER
Price lining
Kopari makes coconut-based natural deodorant. One way to quickly capture as
much of the market as possible, Kopari will likely use which pricing strategy? -
ANSWER Penetration
Acme petroleum owns dozens of gas stations in a medium-sized town. Acme
lowers the price of gasoline to variable cost for 18 months in order to drive out
competitors. Acme slowly buys up the out-of-business competitors and
eventually raises the price of gasoline to significantly higher the variable costs.
This is known as: - ANSWER Predatory pricing
Integrated Marketing Communications (IMC) - ANSWER Represents the
dimension of the four Ps. It encompasses a variety of communication disciplines
IN COMBINATION to provide clarity, consistency, and maximum communicative
impact.
Three elements in any IMC strategy - ANSWER 1. the consumer
2. the channels through which the message is communicated
3. the evaluation of the results of the communication
The AIDA Model - ANSWER 4 stages in the consumer buying process. in each
stage the consumer makes judgments about whether to take the next step or
not.
Four factors of the AIDA model - ANSWER Awareness, Interest, Desire, Action
, The AIDA Model is also known as the __________, __________, and ___ Model. -
ANSWER Think (awareness), Feel (interest, desire), and do (action)
Aided Recall - ANSWER When consumers indicate they know a brand when the
name is presented to them.
Top-of-Mind Awareness - ANSWER the highest level of awareness, occurs when
consumers mention a specific brand name first when they are asked about a
product or service.
The ultimate goal of any marketing communication is to drive the receiver to
__________. - ANSWER action
The Lagged Effect - ANSWER a delayed response to a marketing
communications campaign. It generally takes several exposures to a campaign
before a consumer fully processes the message.
Public Relations (PR) - ANSWER the organizational function that manages the
firms communication to achieve a variety of objectives, including building and
maintaining positive relationship with the media. PR is free media attention.
Sales Promotion - ANSWER special incentives or excitement-building programs,
such as coupons, rebates, contests, free samples, and POP displays, that
encourage the purchase of a product or service.
Personal Selling - ANSWER the two-way flow of communication between a buyer
and a seller that is designed to influence the buyers purchase decision.
important channel in many IMC programs, especially in B2B settings
___________ ___________ is the best and most efficient way to sell certain
products and services. - ANSWER Personal selling
Direct Marketing - ANSWER marketing that communicates directly with target
customers to generate a response or transaction.
Direct marketing retailers try to __________ their customers carefully so they will
be more receptive to their message - ANSWER target
Objective-and-task Method - ANSWER determines the budget required to
undertake specific tasks to accomplish communication objectives
three Rule-of-thumb Methods - ANSWER 1. competitive parity method
2. percentage-of-sales method
3. available budget method
