Marketing

Question 1

1. When considering the advertising medium of magazine, which of the following advantages and disadvantages apply?

		Very targeted, good detail, good "pass along," but inflexible and long lead times
		Flexible, timely, local market, but may be expensive, have short life, and no "pass along"
		Flexible, repeat exposure, inexpensive, but "mass market" and very short exposure
		Selected audience, flexible, can be personalized, but relatively expensive per contact and hard to retain attention

Question 2

1. Which pricing policy is BEST for a profit-oriented, low-cost producer who is introducing a new product into a market with elastic demand and is expecting strong competition very soon after product introduction?

		Skimming pricing
		Introductory price dealing
		Meeting competition pricing
		Penetration pricing

Question 3

1. The following terms appeared on an invoice dated May 22nd, which was sent by a manufacturer to a retail store: 2/10, net 30. The amount of the invoice was $2,000. Assuming the retailer paid the invoice on June 1 (within 10 days after the products were delivered), how much should he have paid?

		$1,900
		$1,800
		$2,040
		$1,960

Question 4

1. The marketing manager for Aerial Photography, Inc. says his sales reps have gotten in the habit of setting prices for products that do not produce a profit. Aerial Photography apparently is using:

		penetration pricing.
		introductory price dealing.
		administered pricing.
		flexible pricing.

Question 5

1. Jackson Motors, Inc. normally sells its electric motors to all buyers for $100. However, a competitor offered to sell similar motors to one of Jackson Motors' biggest customers for only $80 and Jackson Motors offered that customer--but not its other customers--a $80 selling price. According to the Robinson-Patman Act:

		Jackson Motors is breaking the law unless it offers to sell motors to all of its customers for $80.
		Jackson Motors cannot lower its $100 selling price.
		Jackson Motors has not violated the law--it is just meeting competition.
		Jackson Motors and its competitor are both guilty of price fixing.

Question 6

1. Pricing objectives should flow from, and fit in with:

		shareholder expectations and market practices.
		company-level and marketing objectives.
		regulatory policies.
		market price leader actions.

Question 7

1. Deciding to stock a product, providing display space, and extra sales emphasis on a sales promotion would be done by the __________.

		employee
		customer
		consumer
		intermediary

Question 8

1. Pioneering advertising:

		helps turn potential customers into adopters.
		points out product advantages to affect future buying decisions.
		tries to keep the product's name before the public.
		tries to develop selective demand for a specific brand.

Question 9

1. A one-price policy means:

		offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities.
		never using temporary sales or rebates.
		selling to different customers at different prices.
		setting a price at the right level from the start and never changing it.

Question 10

1. Recently, some executives for highway construction companies agreed to stop competing with each other on price and to meet every three months to decide their price for the next quarter. In this situation:

		the Robinson-Patman Act has been violated by price discrimination.
		the Sherman Act has been violated.
		the executives are exercising their right to free trade.
		as long as prices don't increase--the executives have done nothing wrong.

Question 11

1. What is an example of a marketing mix that has a high price level but you see it as having good value? Explain in detail what makes it a good value. Your response should be at least 300 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

Question 12

1. Provide three examples when advertising to intermediaries might be necessary? What are the objective(s) of such advertising? Your response should be at least 300 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.