SAINT MKT301 MODULE 5 QUIZ 3

Which of the following is most likely a
manufacturer-sponsored retailer franchise system?
International
fast food chains like McDonalds and Pizza Hut
Starbucks
outlets operating within Target stores
Toyota
and its network of independent franchised dealers
Licensed
bottlers that bottle and sell soft drinks to retailers
Hotel
chains like the Ritz Carlton and Shangri-La (Page Ref: 347)
Points Received: 5 of 5
Comments:
Question 2. Question
:
Ford and its network of independent franchised dealers is an
example of a __________.
manufacturer-sponsored
retailer franchise system
manufacturer-sponsored
wholesaler franchise system
service-firm-sponsored
retailer franchise system
service-firm-sponsored
equity strategic alliance
manufacturer-and-service-sponsored
joint venture (Page Ref: 346)
Points Received: 5 of 5
Comments:
Question 3. Question
:
Which of the following is an advantage of adding new
channels in a multichannel distribution system?
Limiting
market complexity
Reducing
control over the system
Expanding
sales and market coverage
Decreasing
marketing needs and costs
Minimizing
mass customization of products (Page Ref: 349)
Points Received: 5 of 5
Comments:
Question 4. Question
:
George is buying his first house. He has spent a month
looking at houses and comparing them on attributes such as price and location.
He has contacted several real estate agents to look at different types of
houses. George is most likely exhibiting __________.
variety-seeking
buying behavior
complex
buying behavior
consumer
capitalism
dissonance-reducing
buying behavior
marketing
myopia (Page Ref: 150)
Points Received: 5 of 5
Comments:
Question 5. Question
:
A particular automobile company works to keep its customers
happy after each sale, aiming to delight each one of them in order to increase
their customer lifetime value. Which of the following steps of the buyer
decision process does the company exemplify?
Need
recognition
Information
search
Evaluation
of alternatives
Purchase
decision
Post-purchase
behavior (Page Ref: 155
POOL 3)
Points Received: 5 of 5
Comments:
Question 6. Question
:
Relative advantage, compatibility, complexity, divisibility,
and communicability are all characteristics of __________.
alternative
evaluations
the
degree of buyer involvement
a
product’s rate of adoption
unexpected
situational factors
postpurchase
behaviors (Page Ref: 157-158)
Points Received: 5 of 5
Comments:
Question 7. Question
:
Which type of retailer is most likely to require its
employees to focus most on assisting customers as they shop?
Self-service
retailer
Full-service
retailer
Off-price
retailer
Limited-service
retailer
Convenience
retailer (Page Ref: 376)
Points Received: 5 of 5
Comments:
Question 8. Question
:
Multiprint, a printer manufacturing firm, sells ink
cartridges for each of its specific models. Only Multiprint cartridges are
compatible with Multiprint printers, and no two of the firm’s models share the
same specifications. What type of pricing does Multiprint use?
Product
line pricing
Optional
product pricing
Captive
product pricing
By-product
pricing
Product
bundle pricing (Page Ref: 316)
Points Received: 5 of 5
Comments:
Question 9. Question
:
Retailers such as Costco and Walmart charge a constant,
daily low price with few or no temporary price discounts. This is an example of
__________.
competition-based
pricing
everyday
low pricing
cost-plus
pricing
break-even
pricing
penetration
pricing (Page Ref: 293)
Points Received: 5 of 5
Comments:
Question 10. Question
:
Department stores such as Kohl’s and Macy’s practice
high-low pricing by __________.
charging
a constant, everyday low price
providing
few or no temporary price discounts
increasing
prices temporarily on select products
having
frequent sale days for store credit card holders
underpricing
most consumer items (Page Ref: 293)
Points Received: 5 of 5
Comments:
Question 11. Question
:
Competitors are most likely to react to a price change when
__________.
a
large number of competitors are involved
the
product is uniform
the
buyers are not well informed about product features
buyers
are not well informed about price differences
the
products are not uniform (Page Ref: 326)
Points Received: 5 of 5
Comments:
Question 12. Question
:
Most companies are started by individuals who live by their
wits. They visualize an opportunity, take risks, and knock on every door to
gain attention. Which of the following stages in marketing strategy is being
illustrated here?
Exponential
marketing
Formulated
marketing
Entrepreneurial
marketing
Affinity
marketing
Ambush
marketing (Page Ref: 535
POOL 5)
Points Received: 5 of 5
Comments:
Question 13. Question
:
When a competitor cuts its price, a company should
__________ if it believes it will not lose much market share or would lose too
much profit by cutting its own prices.
reduce
its production costs
reduce
its marketing costs
maintain
its current prices and profit margin
increase
its marketing budget to raise the perceived value of the product
increase
its production costs to improve the quality of the product (Page Ref: 327)
Points Received: 0 of 5
Comments:
Question 14. Question
:
A university enrolled 200 graduate students in the Fall of
2011. However, the enrollment rate was only slightly affected following a 12
percent hike in tuition the following Fall. This illustrates a(n) __________
demand.
derived
negative
highly
elastic
composite
inelastic
(Page Ref: 168
POOL 6)
Points Received: 5 of 5
Comments:
Question 15. Question
:
Canine Couture is launching a new line of hand-stitched
doggy duds made from silk, cashmere, and linen. Couture has intentionally
limited production and set prices for the new line at about four times the
average price for other pet clothes in hopes of creating a prestige line. What
pricing strategy is Canine Couture using?
Cost-plus
Value-added
Product
line
Skimming
Segmented
Points Received: 5 of 5
Comments:
Question 16. Question
:
What concept does the following formula “percent of change
in quantity divided by the percent of change in price” represent?
Breakeven
Contribution
margin
Price
mark-up
Elasticity
Marginal
analysis
Points Received: 5 of 5
Comments:
Question 17. Question
:
Sam was visiting her grandparents during Spring Break and
was appalled when they insisted on going to dinner at 5:30 to get the Early
Bird Specials. What type of pricing strategy is making Sam insane?
Value-added
Everyday
low prices
Skimming
Segmented
Cost-plus
Points Received: 5 of 5
Comments:
Question 18. Question
:
John and Robin run a small, but trendy, craft beer and pizza
restaurant in a part of town that has a number of nighttime and dining options.
The couple are discussing raising their prices on their “pint and slice”
after-work special; however, they are concerned that their customers may decide
that the new price is too high and sales will drop. What pricing concept is
worrying John and Robin?
Consumer
constructivism
Everyday
low prices
Elasticity
Skimming
Cost-plus
Psychological
pricing
Points Received: 0 of 5
Comments:
Question 19. Question
:
Reindeer Games, a new Christmas-themed video, pizza, and ice
cream restaurant targeting families with young children, is located in an area
that is also home to Chucky Cheese and a bounce activity center. As both of the
latter are well established, the owner of Reindeer Games decided to launch her
business with pricing on games and pizza parties about 20% lower than her
competitors. What pricing strategy is Reindeer Games using for their launch?
Value-added
Everyday
low prices
Penetration
Skimming
Segmented
Cost-plus

Question 20. Question
:
Cats and Rats is a tablet game that allows players to be one
or the other and try to outsmart their opponents. In order to win, the players
need an occasional energy boost in the form of a nap, which is free, or the
player can pay for Cat Treats or Cheese Nibbles for their cat or rat. What form
of pricing is this?
Penetration
Value-added
Freemium
Skimming
Segmented
Points Received: 0 of 5
Comments: