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Exam 21: Managing the Marketing Mix: Product, Price, Place and Promotion

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Question 51

True/False

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Merrill helps growers of fresh fruits and vegetables negotiate sales to food processing companies. However, once he has helped negotiate the transaction, he does not maintain a long-term relationship with the growers. Merrill is an example of an agent in this market.

A) True
B) False

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Question 52

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What does a break-even point of 100 units mean to a firm?

A) The firm must sell 100 units to maximize its profits.
B) Fixed costs plus variable costs equals 100 units.
C) By producing 100 units, the firm can ensure that variable costs completely cancel its fixed costs.
D) If the firm sells 100 units, its total revenues will equal its total costs.

E) B) and D)
F) A) and B)

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Question 53

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Radio advertising has certain shortcomings but offers businesses an opportunity to reach a specific target market.

The Procter & Gamble Company is a major producer of bar soaps. In fact, Procter & Gamble produces Ivory, Camay, Lava, Safeguard, Zest, and Coast bar soaps that all claim a variety of benefits. These products are part of Procter & Gamble's __________ in bar soaps.

Miss Kitty's Chocolate Corral is located in an out-of-the-way small shopping center. However, the company enjoys outstanding business because satisfied customers share their delightful experiences at Miss Kitty's with their friends and relatives. Miss Kitty's apparently benefits from positive:

Mystic Beverages, a producer of soft drinks, wants to differentiate its products from those of other soft drink providers. To implement this strategy successfully will require Mystic to create tangible differences in the physical product it offers.

Sports Coasters sells good-quality athletic wear by sending its customers a catalog nine times a year. The company has no retail stores, but offers a toll-free order number that operates 24 hours a day, 365 days a year. Sports Coasters sells using a technique known as:

While the product life cycle is a good theory, it's not important for marketers to recognize what life cycle stage a product is in.

Agents and brokers and wholesalers are types of marketing intermediaries.

According to the Making Ethical Decisions box, celebrities can earn thousands by tweeting their love for specific products and tag them #ad.

The final step of the selling process involves:

Shopping online allows customers to compare prices of many goods and services. This technology will likely:

The break-even point is that level of sales where total revenues equals total costs.

After several years as a brand manager for an established product, Pete has taken a job with a microbrewery. He is responsible for managing the marketing mix for a new product introduction. In his new job, Pete will find that while the products may be at different stages of the product life cycle, the marketing strategies will be essentially the same.

The rent a firm pays each month for office space is an example of a(n) :

Sales of mobile phones in the United States are still increasing, but the rate of growth has slowed. Sales are expected to peak somewhat soon in the U.S. Based on this information, mobile phones are in what stage of the product life cycle in the U.S.?

Which of the following is a major strength of direct mail advertising?

A large number of traditional retailers have developed websites in recent years, giving customers a choice of shopping techniques.

As a result of increased advertising and well-trained salespeople, packaging is less important than in the past.

The two main types of merchant wholesalers are storage wholesalers and distribution wholesalers.