Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / California Polytechnic State University, Pomona IBM 301 Final Exam Study Guide IBM 301 Jung 1)Heavily used during the maturity stage of the product life cycle, comparative advertising offers consumers reasons why your brand is better than competitors' brands by comparing your brand with a competitor's brand on performance or mentioning competitor's name directly or indirectly

California Polytechnic State University, Pomona IBM 301 Final Exam Study Guide IBM 301 Jung 1)Heavily used during the maturity stage of the product life cycle, comparative advertising offers consumers reasons why your brand is better than competitors' brands by comparing your brand with a competitor's brand on performance or mentioning competitor's name directly or indirectly

Management

California Polytechnic State University, Pomona

IBM 301

Final Exam Study Guide

IBM 301 Jung

1)Heavily used during the maturity stage of the product life cycle, comparative advertising offers consumers reasons why your brand is better than competitors' brands by comparing your brand with a competitor's brand on performance or mentioning competitor's name directly or indirectly.

  1. What might have been a problem(s) with Song's product development?
    1. There was not sufficient financial support from the parent company.
    2. Brand awareness was so low.
    3. Song's ad didn't clearly articulate connection between the ads and the airline.
    4. Timing was not good for starting new airline.
    5. All of the other options were the problems with its product development

 

  1. Manufacturers of computer diskettes such as 3M or Sony sell their products to software developers, such as Microsoft, to be used to store software programs. Microsoft would be considered a customer in a(n):
  2. A manufacturer told a distributor that they could buy products from the manufacturer only if they agreed not to carry products of the manufacturer's competitors. What is legal term for this situation?
  3. According to an old adage, there are three keys to successful retailing. They are:
  4. Which of the following sales promotion will be the most effective in reinforcing positive behaviors of your loyal customers?
  5. Volume objectives-based pricing
  6. Widely used during the introduction stage of the product life cycle,                                                                        offers consumers reasons why consumers should consider the product category.
  7. A product is priced to sell for $12 with average variable costs of $8. The company expects to earn a profit of $400,000 with its total fixed costs of $120,000. The minimum number of units that must be sold in order to reach this target return is (hints: you need to add profit to total fixed costs).

 

 

  1. Which of the following is the least plausible reason why marketing communication might break down:
  2. Why are marketers hesitant to apply price theory in determining price?
  3. A manufacturer of car batteries has added a handle and an emergency reserve switch to its batteries. The manufacturer has not changed its prices or quality. This is an example of a(n)       modification.
  4. Evaluation of a new-product idea before any prototype is created in order to measure consumer attitudes and perceptions of the idea is known as
  5. Which is NOT a characteristic of relationship personal selling?
  6. Which of the following is the last step in the selling process?
  7. A retailer that has only single product line but that has a moderate to deep assortment within that line and that sell merchandise at medium to high price with extensive service is:
  8. An intangible product in the form of an activity or benefit provided to customers is known as:

 

  1. when new computers were introduced, prices were initially high to recover R&D costs quickly. Over time, prices came down gradually. This illustrates the use of a                                                                                     pricing strategy.
  2. which of the following descriptions about marketing communications is correct?
  3. The strategy of                                                                       attempts to saturate every viable retail outlet with usually       goods, thus obtaining maximum product exposure at the retail level.
  4. In advertising, the term "reach" refers to the number of the target audience that sees an ad at least once.

 

 

  1. Select a statement that is NOT accurate about Song Airline's advertising campaign:
  2. Schwinn Cycling and Fitness, Inc., is offering a chain of sporting goods superstores a 20 percent discount on all Schwinn bicycles if the stores will run their own special promotion on the new Schwinn Paramount Titanium bikes. Schwinn is offering retailers a:
  3. In which of the following situations, personal selling is better than advertising or sales promotion?
  4. Rolls Royce has a restrictive policy of establishing only one dealer within a given geographic area. Buyers of this type of expensive car will travel to acquire the product. This kind of distribution is called

                               distribution.

  1. Badoit, a brand of mineral water, is very popular in France. The firm is considering exporting this product to the United States to compete with Perrier. They surveyed a representative sample of the potential target market and found that 81% were aware of the brand, 44% had some accurate knowledge of the brand and 41% expressed a positive liking for the product. What should be Badoit's promotional goal?
  2. Good sales managers should:
    1. Be assertive
    2. All of the above
    3. Have ego drive
    4. Be empathetic
    5. Have ego strength

 

  1. Which of the following statements about handling objections is true?
  2. Which is a characteristic of relationship personal selling?
  3. A buyer bought brand A at $100 per unit and sells at $143. Later he decided to mark down and put them on sale at $114. further he wants to write "?? discount" next to the new price tag. what % should he write?

Markdown(%)= Markdown$/SP

Markdown %=(InitialSP-FinalSP)/ InitialSP Markdown%=(143-114)/143

 

 

  1. Business partners Buey, Cheatem, and Howe wish to make a 40% markup on the sale of an item that cost $7. At what price should it be sold? (Hint: the markup % should be based on intended price, not the cost.)
  2. Firm X promotes its product directly to the end user market (consumers) and their competitor, firm Y, promotes its product to wholesaler distributors. Assume that both X and Y are manufacturers. Whereas X is using a                                                  strategy, Y is using a       strategy
  3. Which of the following types of channels would most likely be used when small manufacturers lack the resources to find downstream members such as wholesalers, retailers, or end-customers?
  4. Choose a statement that is correct about the relationship between price and value.
    1. Price is what you pay and value is what you get in return.
    2. Value = quality / price
    3. People have their own perception of quality and price.
    4. Price alone cannot determine the value of a product or service.
    5. All of the above are correct

 

  1. Pricing and selling a product at a point at which the additional revenue gained by the sale of a product equals the increase in total cost associated with making and selling that product is referred to as
  2. Which is NOT one of the trends that are occurring in managing sales forces?
  3.  “ The series of stages a product goes through over its sales history, a similar to the stages that a living organism goes through” is called         .
  4. During the preapproach, the salesperson would:
  5. Imagine a retailer who is pondering over which media to use and how often to use it. Which of the following statements would NOT be true?
  6. The retail marketing mix includes which of the following elements?

 

 

 

 

  1. What is cash amount paid to intermediaries to secure shelf space?
  2. Which of the following communication mix that companies can control is excellent in increasing awareness and interest, but is not so good in changing consumer action?
  3. The first step in any advertising campaign decision process must be to
  4. A specific and distinct version of a product offered by an organization is defined as a
  5. Tickets to the combined amusement park and water slide were $49 for the day. Then the company gave customers the option to purchase tickets for either the amusement park or the water slide for $18. To help keep costs in line, the park management also began charging its customers a small parking fee. Initially, the cost of parking was figured into the $49 price. The amusement park is using:
  6. Advertising spending and sales has a positive linear relationship.
  7. This commonly used advertising appeals to people's internal desire to avoid such negative things as social embarrassment, old age, and losing health
  8. volume objective based pricing
  9. Select a statement that is correct about advertising:
  10.               refers to a channel in which foreign distributors import products from unauthorized channels and distribute the products in that country. This channel often leads to lower price than regular price set by the exporting company and no customer service (e.g., no warranties honored)
  11. Retail institutions can be classified by:
    1. location
    2. product assortment
    3. ownership structure
    4. service level
    5. All of the other options

 

 

  1. The price of cough suppressant ranges from $5.00 to $7.00. A pharmaceutical company recently have made a discovery of an element that is sure to increase the effectiveness by 50%, but it came with $5.00 increase in cost. However, the company had a difficulty persuading consumers with its price of $12.00 for the new cough suppressant. What pricing would explain the company's pricing dilemma the best?
  2. About 13.5 % of adopters tend to rely much on group norms and values, and they are oriented towards local community. They are likely to be highly respected opinion leaders. Thus, they are more important influencers than innovators in the diffusion process. What is this group called?
  3. Selling Price under cost plus pricing: Example: cost=$100, desired markup= 30%. What should be selling price?

Price= cost+markup SP= cost/ (1-%MU)

=Cost/ %Cost Price=100+30%

Selling Price= 100/(1-0.3) Selling Price=100/0.7

 

  1. Determining whether a potential customer has the need, the income (buying power), and the authority to buy, and whether or not the customers is accessible is the part of the sales process called
  2. Please answer the question based on the following information only. Once Pizza Hut identified Big New Yorker's benefits, and turned these benefits into the advertising appeals, they linked the appeals into a testimonial executional style using a TV mainly. They aired their ads once a day before and after the Super Bowl day consistently throughout promotion period. However, on the Super Bowl day, the ads were shown every 20 minutes before the start of the Super Bowl. Which media schedule best represent their approach?
  3. When new computers were introduced, prices were initially high to recover R&D costs quickly. Over time, prices came down gradually. This illustrates the use of a                                                                                              pricing strategy.
  4. Which of the following is correct about "meeting competition objective?"
  5. Whereas consumers like to buy a little bit of a lot of things, producers generally like to make a lot of a few things. This is known as:

 

 

  1. In which of the following situations, personal selling is better than advertising or sales promotion?
  2. A product was introduced. Since then its sales has gone through growth and maturity stages, after which its sales start to decline. How can marketers effectively revert this declining trend? Choose the most viable option.
  3. According to the wheel of retailing hypothesis, which of the following is true about new entrant's strategy?
  4. A product is priced to sell for $12 with average variable costs of $8. the minimum number of units that must be sold in order to reach this target return is (you need to add profit to total fixed costs.
  5. Why are marketers hesitant to apply price theory in determining price?
  6. Which of the following descriptions about marketing communications is correct?
  7. Which of the following is correct about ‘meeting competition objective?’
  8. Which of the following is the most certain distinctive characteristic of agent intermediaries compared with retailers and wholesalers?
  9. What is correct about scrambled merchandising?
    1. None of the options here is correct.
    2. It tends to increase intra-format competition than inter-format competition.
    3. Consumers usually negatively respond to it. d. Retailers are less likely to see their sales increase with this strategy.

e. Less popular product tend to be sold under this strategy.

 

  1. Which of the following would be true in personal selling?

 

 

 

 

  1. Which of the following is an example of non-store retailing?
    1. a mail order catalog (e.g., Land's End catalog)
    2. The home shopping channel
    3. All of the other choices
    4. a vending machine
    5. Party plan (e.g., a Tupperware party)

 

  1. Classifying retail institutions into independent retailers, chain stores, and franchises is a result of using:
  2. Which of the following would not be an example of retail atmospheric cues?
  3. Pricing and selling a product at a point at which the additional revenue gained by the sale of a product equals the increase in total cost associated with making and selling that product is referred to as:
  4. What is the most effective promotional mix to use with products that are convenience goods and purchased routinely?
  5.               is a distribution arrangement in which producers, wholesalers, and retailers operate as an integrated system with unified objectives and in which coordination is achieved through either administration, contractual agreement, or ownership.
  6. Which of the following is the least viable strategies for locally owned small independent retailers in order for it to be successful against big corporate chain store?

 

Option 1

Low Cost Option
Download this past answer in few clicks

12.83 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE