_____ is a theory that states that if the exchange rates of two countries are in equilibrium, a product purchased in one will cost the same in the other, if expressed in the same currency.
Cinfy, an electronic appliances manufacturer, sells 30 pizza ovens, 60 coffee makers, and 90 sandwich toasters per day. Despite warnings from analysts, Cinfy hikes prices of its toasters from $150 to $180, and toaster sales fall by 40%. After this pricing strategy backfires, Cinfy decides that a 10% drop in demand is acceptable, but not more. Assuming that the elasticity of demand for the toasters remains constant, what is the maximum price hike that Cinfy can afford without letting the sales drop by more than 10%?
Empowerment of employees helps to address the delivery gap because:
In an administered vertical marketing system,:
Which of the following is most likely to be considered a convenience product?
Which of the following is a tool used to determine amount of traffic using a site, visiting a blog or tweeting about it?
Which problem solving variation would likely be used for clothing, sheets, towels, or electric can openers?
Which of the following is a source of internal information ?
A customer information storehouse enables
_____ is the two-way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decision.
Diversification refers to the marketing strategy of
A group of firms that make and deliver a given set of goods and services is known as a _____.
A company's_____ specifies the marketing activities that a firm will undertake in a specific period of time.
Which of the following retailers offers a broad variety of merchandise, limited service, and low prices?
Which of the following is seen in Stage 4 of the B2B buying process?
_____ occurs when the brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.
Saleye Pharmaceuticals develops cheaper alternatives to proprietary drugs. Its mission statement states that it wants to create affordable medicine for everyone and create a healthier world. Saleye releases a new and improved version of its pain-relieving drug, Fento. Within a week, Saleye receives many complaints stating that the drug is inducing hallucinations and in some cases triggering certain anxiety disorders. Saleye was caught off-guard as its animal and human trials did not reveal any side effects. Saleye deliberated over the decision to recall the drug for over a week and by the time it eventually did, it had lost millions in stocks. Where did Saleye fail?
Which of the following is considered the second "E" in 4E framework?
BrewCraft Beer is a microbrewery that sells its beer at its own beer gardens in Central City. Though customers were initially unused to the concept of a beer garden, BrewCraft undertook a long-running social media campaign to popularize the concept. It also advertised the fact that all its ingredients were sources locally and sustainably. Which of the following would be considered the service that BrewCraft is selling customers?
Stavely Publishing is conducting a SWOT analysis of its marketing environment. In this analysis, the company will identify its strengths and weaknesses from _____.
_____ appeals help consumers make purchase decisions by offering factual knowledge that encourage consumers to evaluate the brand favorably on the basis of the key benefits they provide.
When advertising content appears to be native to a platform (a news article, independent website, organic search result), the ethical thing to do is to:
A seller's costs are usually determined during or after a product is made, with a specified percentage or dollar amount added to the cost to establish a price. In this case, the organization is using _____ pricing.
CL Inc. an American fast-food chain enters into an agreement with Mars Corp., a British firm. According to the terms of the contract, Mars Corp. can use CL's brand name, image, logo and business format for a specified fee. This type of market entry is known as _____.
Pluto, a footwear company, designs and creates sports shoes for children. Since most of Pluto's target market consists of children who are in school, Pluto's retailers agree to sell its shoes for a certain amount below the actual price on the products. The price that Pluto and its retailer agree to sell the sports shoes for is known as _____.
Which of the following is a feature of using an Internet marketing channel?
Serenity Inc. exercises reward power over a channel partner when Serenity:
Resolve surveys 20,000 households that own a TV. The results of this survey indicate that an advertisement for a retail store was watched 360,000 times during a period of three days. The same advertisement was watched at least once by 30,000 people. What is the average frequency of the advertisement?
Which of the following aspects is directly responsible for determining the zone of tolerance of customers?
FEL Pharmaceuticals, a new company, decides to incorporate features of the AMA's statement of ethics into its mission statements. The company hires Bernardo, an industry expert, to help them understand the ethical norms of the industry. FEL Pharmaceuticals is most likely in the _____ stage of the strategic marketing planning process.
In the early 1980s, typical round-trip coach air fares from the East Coast to London were over $500. Then Freddie Laker introduced the
People’s Express, a competing service into Newark at $350. Major airlines matched his price—and continued to do so until they drove
People’s Express out of business. Then prices shot back up to over $500. A lawsuit filed under the Sherman Act resulted in the judgment that the major airlines had explicitly tried to destroy a competitor. The experience of People’s Express is an example of __________ on the part of the major airlines.
The profit earned by a product is at its lowest during the _____ stage of the product life cycle.
If the GRP of an advertisement is 60 percent and its reach is 6 percent, what is the frequency of the ad?
In the marketing communication process, the sender works with a creative department, either an in-house marketing department or an external agency, who receives the information and transforms it for use. Here, the creative department is the _____.
If a customer spends $40 on purchasing a company's product and spends $80 on other companies' products in the same product category, what is the company's share of customer wallet?
Calculate the return on marketing investment of a campaign that costs $10,000 and delivers $45,000 in incremental net profit.
A toy manufacturer realizes that its latest product presents a choking hazard due to some of the components used in the toy. This occured despite the prior implementation of safety measures to prevent such an occurrence. The toy manufacturer is faced with a decision to recall over a million products or place a warning label on each product. This type of situation is representative of _____.
In a franchise system,:
CL Corp. buys stationery supplies from Sharpe Inc. on a large scale and sells smaller quantities to several stationery stores around the country. In this scenario, CL Corp. is an example of a _____.
Which of the following is true of Millenials?
The _____ component of attitude reflects a person’s belief system, or what we believe to be true.
The second step in the marketing research project involves
Which of the following is true of low-involvement customers?
Which of the following represents an ethical problem?
_____ pertains to a customer’s perception of the benefits he or she received compared with the costs.
Telcon, a mobile phone manufacturer, sells its flagship product, Pute, at $250 per unit. The fixed cost incurred by the company is $500,000, and the variable cost per unit is $150. What is the profit earned by Telcon if it sells 100,000 units of Pute?
A local Target retailer carries a variety of different items. A customer can find anything ranging from socks, DVD’s, and sports gear to groceries. This is an example of the __________ carried by Target.