Pricing and Distribution Strategies in Marketing, Exams of Marketing

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MKTG 3433 Exam 3 with 72 Questions and

Answers

A __________ is a promise from the company to its customers to deliver value consistently over time. a. brand b. promotion c. price d. product - ✅a. brand __________ is the difference in price between your product and the competition. a. price elasticity of demand b. price gap c. odd pricing d. loss leader pricing - ✅b. price gap ___________ answers the customer's question, "what's in it for me?" a. brand b. equity c. price d. product - ✅a. brand Brand architecture is also known as ___________. a. brand equity b. brand framework c. a brand's promise d. a brand's price -

✅b. brand framework ______________ is the degree to which a change in price leads to a change in demand. a. price elasticity of demand b. price gap. c. economies of sclae d. learning curve - ✅a. price elasticity of demand __________________ frames creative brief to drive advertising/marketing plan, package graphics, and communications. a. brand architecture b. price c. product d. brand awareness - ✅a. brand architecture _____________ pricing is adding a standard markup to a product's cost of goods sold. a. cost-plus/mark-up b. loss leader c. penetration d. dynamic/individualized - ✅a. cost-plus/mark-up Walmart pricing, where they purposely set retail prices to be just less than retailers pricing on the "9's," is an example of ___________ pricing. a. odd b. bundle c. survival d. penetration - ✅a. odd

______________ moves an existing, current brand name into a completely different product class or category. a. brand extension b. a new product c. brand equity d. line extension - ✅a. brand extension The PED formula is the "percent change in quantity demanded" divided by the "percent change in price." a. true b. false - ✅a. true _________ pricing is when prices are set below a round number. a. odd b. prestige c. dynamic/individualized d. survival - ✅a. odd _________________ provides seamless customer experiences regardless of whether they are shopping online or in-store a. exclusive distribution strategy b. last mile delivery c. omnichannel strategy d. selective distrbution strategy - ✅c. omnichannel strategy Dunkin online, Dunkin on shelves, and Dunkin stores are an example of ___________ strategy. a. intensive b. selective

c. exclusive d. omnichannel - ✅d. omnichannel _______________ is any additional forms, flavors or varieties of the brand introduced in the current category. a. brand extension b. a new product c. brand equity d. line extension - ✅d. line extension ___________ awareness is the percentage of respondents who are aware of your product, brand, or advertising when asked. a. service b. unaided c. aided d. product - ✅c. aided ___________ awareness is the percentage of respondents who are aware of your product, brand, or advertising top-of-mind without being assisted. a. service b. unaided c. aided d. product - ✅b. unaided In the product mix, _______ is the number of individual product lines offered by the organization. a. length b. depth c. average

d. width - ✅d. width _________ are processes or actions that are performed and can be experienced. a. assets b. services c. products d. systems - ✅b. services ___________ is a tool used to diagnose the power & value of a brand. a. brand equity valuator b. brand product valuator c. price d. brand asset valuator - ✅d. brand asset valuator _______ are goods that are manufactured and can be owned. a. products b. services c. assets d. prices - ✅a. products _______ is a dimension of the brand asset valuator that defines the characteristics of a brand & its distinctiveness. a. differentiation b. knowledge c. esteem d. relevance - ✅a. differentiation

A ________ is known as a bundle of attributes that a person receives in an exchange. a. price b. product c. service d. discount - ✅b. product _______ is the appropriateness and connection of a brand. a. differentiation b. knowledge c. esteem d. relevance - ✅d. relevance _______ is the consumers' respect for and attraction to a brand. a. differentiation b. knowledge c. esteem d. relevance - ✅c. esteem ________ is the consumers' awareness of a brand and understanding of what it represents. a. differentiation b. knowledge c. esteem d. relevance - ✅b. knowledge In the product mix, ______ is the average number of products in each product line. a. width

b. depth c. length d. none of the above - ✅b. depth ______________ is the movement of goods from a transportation hub or warehouse to its final delivery destination. a. omnichannel strategy b. channeling c. last mile delivery d. first mile delivery - ✅c. last mile delivery ____________ pricing constantly updates prices to reflect changes in supply, demand, or market conditions. a. loss leader b. prestige c. odd d. dynamic/individualized - ✅d. dynamic/individualized The 4 measureable attributes of brand equity include market share, brand awareness, leadership/popularity, and customer satisfaction/loyalty. a. true b. false - ✅a. true Above-the-line refers to all costs located above the _______________ line. a. net profit b. expenses c. sales d. gross profit -

✅d. gross profit _________ is the total sales of the brand, unadjusted for the costs related to generating those sales. a. gross sales volume b. net sales c. trade discounts d. allowances - ✅a. gross sales volume A Copier and Ink are examples of __________ pricing a. odd b. loss leader c. survival d. dynamic/individualized - ✅b. loss leader ________ are paid to retailer to drive merchandising on your brand. a. net sales b. trade discounts/allowances c. gross sales d. expenses - ✅b. trade discounts/allowances Organizations & charities form a partnership to market an image, product, or service for their mutual benefit is ________ marketing. a. cause b. open c. brand d. price - ✅a. cause

Brand equity is easy to measure or quantify. a. true b. false - ✅b. false Brand equity is difficult to measure or quantify Fight Hunger (a campaign with Walmart) is an example of __________. a. omnimarketing b. non-profit marketing c. cause marketing d. none of the above - ✅c. cause marketing Hospitals, charities, and universities are examples of organizations that would use _____________ marketing. a. omni b. cause c. non-profit d. for-profit - ✅c. non-profit Walmart is an example of a ________ distribution channel. a. direct b. indirect - ✅b. indirect Coke is an example of a _____________ distribution strategy. a. intensive b. selective c. exclusive d. omnichannel -

✅a. intensive Walmart is an example of a ________ distribution channel. a. direct b. indirect - ✅b. indirect _______________ is the cost-reducing impact of production efficiency. a. economies of scale b. learning curve effect c. price elasticity of demand b. price gap. - ✅b. learning curve effect _______ is the cost-reducing impact of greater volume. a. economies of scale b. learning curve effect c. price elasticity of demand b. price gap. - ✅a. economies of scale Nike & Yeti are examples of ___________ distribution strategy. a. intensive b. selective c. exclusove d. omnichannel - ✅b. selective The process for non-profit marketing aligns with for profit marketing. a. true b. false -

✅a. true ____________ pricing involves selling a product at a price that causes a financial loss. a. odd b. survival c. loss leader d. penetration - ✅c. loss leader __________ helps create value for customers. a. product b. price c. promotiom d. place - ✅b. price What is the shortest distribution channel? a. direct b. retailer c. wholesale d. they're all the same - ✅a. direct _______ captures value for the company. a. price b. promotion c. place d. product - ✅a. price TURF stands for Total Unduplicated Reach & Frequency.

a. true b. false - ✅a. true ________ determines optimum number of products to launch to maximize sales. a. NielsenIQ BASES b. brand P&L c. TURF - ✅c. TURF A(n) __________ distribution strategy has a manufacturer/supplier that authorizes only one distributor to carry out within a definite region. a. intensive b. exclusive c. selective d. omnichannel - ✅b. exclusive ____________ pricing sets the initial price low to get people to purchase immediately. a. survival b. loss leader c. penetration d. prestige - ✅c. penetration _______ is a financial statement that summarizes the revenues, costs, & expenses incurred during a specified period, usually a fiscal month, quarter or year. a. brand equity b. balance sheet c. brand P&L d. net sales - ✅c. brand P&L

The only P to not consumer company resources is __________. a. price b. promotion c. place d. product - ✅a. price Walmart is an example of EDLP pricing. a. true b. false - ✅a. true A Health Club decides to offer a membership at $20 a year when its previous price was $100 a year. This is an example of ________ pricing a. penetration b. survival c. cost-plus/mark-up d. bundle - ✅a. penetration Kroger is an example of high-low pricing. a. true b. false - ✅a. true __________ pricing is when a high price is charged to indicate a product is exceptionally fine. a. prestige b. odd c. penetration d. cost-plus/mark-up -

✅a. prestige If PED is greater than one, then demand is ________. a. elastic b. inelastic - ✅a. elastic ______ is a company's distribution channels & is responsible for delivering value to the target market. a. place b. promotion c. product d. price - ✅a. place Tesla & Gucci are examples of ________ distribution strategy. a. intensive b. exclusive c. selective d. omnichannel - ✅b. exclusive ______ is also referred to as supply chain management. a. place b. promotion c. product d. price - ✅a. place A _______________ is a facility for the receipt, storage & redistribution of goods to company stores. a. retailer

b. manufacturer c. product place d. distribution center - ✅d. distribution center A distribution center may be operated by retailers, manufacturers or distribution specialists. a. true b. false - ✅a. true _____________ pricing is when several items are sold together at a single price to convey value. a. cost-plus/mark-up b. bundle c. prestige d. loss leader - ✅b. bundle _______________ pricing refers to the lowering of prices to the point at which revenue just covers costs. a. survival b. penetration c. cost-plus/mark-up d. dynamic/individualized - ✅a. survival A(n) __________ distrubution strategy has a few retailers. a. intensive b. exclusive c. selective d. omnichannel - ✅c. selective

Zappos.com is an example of a _______ channel. a. retail b. direct c. wholesale - ✅b. direct A ______ channel goes from producer to consumer. a. retail b. direct c. wholesale - ✅b. direct A _____ channel goes from producer to retailer to consumer. a. retail b. direct c. wholesale - ✅a. retail A(n) ________ distribution strategy has many retailers. a. intensive b. exclusive c. selective d. omnichannel - ✅a. intensive A ___________ channel goes from producer to wholesaler to retailer to consumer. a. retail b. direct c. wholesale - ✅c. wholesale