MKT200 Unit 6 Quiz 3 Verified Answers MKT 200

Quiz A  Question 1 5 out of 5 points Which one of the following statements about retailers is false? Correct Answer: Department stores carry narrow product lines with deep assortments within those lines.  Question 2 5 out of 5 points A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity is called a: Correct Answer: horizontal marketing system  Question 3 5 out of 5 points Like a retailer, a wholesaler must decide on segmentation and targeting, differentiation and positioning, and the marketing mix. Correct Answer: True  Question 4 0 out of 5 points You work for a small business and are deciding between personal selling and sales promotions. What is your best strategy for combining these options? Correct Answer: sales force promotions  Question 5 0 out of 5 points Which one of the following statements about promotion strategies is false? Correct Answer: When developing an advertising strategy, your company's creative department should first create good ads, and then the media department should select the best media for those ads.  Question 6 5 out of 5 points Carefully coordinating the company's many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands is called: Correct Answer: integrated marketing communications  Question 7 5 out of 5 points Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor is called: Correct Answer: advertising  Question 8 0 out of 5 points Which of the following statements about pricing strategies is false? Correct Answer: Cost-based pricing relies on consumer perception of value to drive pricing.  Question 9 5 out of 5 points Stocking a product in as many outlets as possible is the goal of: Correct Answer: intensive distribution  Question 10 5 out of 5 points If demand changes greatly with a small change in product price, the demand is inelastic. Correct Answer: False  Question 11 5 out of 5 points Which of the following statements about personal selling is true? Correct Answer: Today, most salespeople are well-educated, well-trained professionals working to build and maintain long-term customer relationships by listening to their customers, assessing their needs, and organizing the company's efforts to solve customer problems.  Question 12 5 out of 5 points By far, the fastest growing ad-spending category is: Correct Answer: digital marketing  Question 13 5 out of 5 points You want your customers to pay the existing price, or even a higher price, for the premium features and services you provide. This is an example of: Correct Answer: value-added pricing  Question 14 0 out of 5 points A wholesaler who sends delivery trucks to grocery or pharmacy retailers, sets up displays, price the goods, and maintain inventories is called a: Correct Answer: rack jobber  Question 15 0 out of 5 points Which of the following statements about promotional strategies is false? Correct Answer: Integrated marketing communications encourages brand messages to be developed by different departments within an organization.  Question 16 5 out of 5 points Total revenue equals total cost at: Correct Answer: the break-even point.  Question 17 0 out of 5 points Which marketing channel is most likely to serve the business customer? Correct Answer: producer > sales branch > business distributor > customer  Question 18 5 out of 5 points An advertising objective is a specific communication task to be accomplished with a specific target audience during a specific period of time. Advertising objectives can be classified by primary purpose: Correct Answer: to inform, persuade, or remind.  Question 19 5 out of 5 points The concept that emphasizes teamwork (inside the company and among all channel members) to maximize the performance of the entire distribution system is called: Correct Answer: integrated logistics management  Question 20 5 out of 5 points Costs that do not change with production or sales levels is best described as: Correct Answer: fixed costs