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BGSU / Marketing / MKT 3000 / Hiring a maid to come and clean your house is an example of what kind

Hiring a maid to come and clean your house is an example of what kind

Hiring a maid to come and clean your house is an example of what kind

Description

School: Bowling Green State University
Department: Marketing
Course: Marketing/Non Business
Professor: Fei weisstein
Term: Fall 2015
Tags:
Cost: 50
Name: Exam 4 Study Guide
Description: This study guide reviews chapters 12, 16, 17, 20, and 21
Uploaded: 12/11/2015
8 Pages 83 Views 1 Unlocks
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Exam 4 Study Guide: Ch 12, 16, 17, 20, 21


Hiring a maid to come and clean your house is an example of what kind of process?



1. Which characteristic is NOT a characteristic that distinguish services  from goods

a. Perishability

b. Inseparability

c. Homogeneity

d. Intangibility

2. A hair salon is furnished with sleek leather chairs, bright chandeliers,  the best tools, and the most skilled stylists. When a customer comes in they know they will get a haircut they love. Which two service qualities does this exemplify:

a. Reliability and Tangibles

b. Assurance and Responsiveness

c. Responsiveness and Empathy

d. Assurance and Tangibles

3. Marketing research can close the _____ gap between what customers  want and what managers think they want


When a wholesaler or retailer establishes a price based upon the cost of buying the product from the producer (not the actual cost to make it) then sells it at a higher price, they are practicing what?



a. Knowledge

b. Standards

c. Delivery

d. Communications  

4. Jimmy Johns promises freaky fast delivery. If customers are constantly  calling to inquire as to where their food is or to complain about the  slow delivery, the ____ gap is fairly large  

a. Knowledge

b. Standards

c. Delivery

d. Communications  

5. Empowering employees and making sure they are satisfied and able to complete their job to their fullest potential closes the _____ gap.  a. Knowledge

b. Standards

c. Delivery


Determining the number of outlets and the convenience of your service falls under which aspect of the marketing mix?



We also discuss several other topics like What is the highest interest rate of a long-term bonds?

d. Communications

6. Hiring a maid to come and clean your house is an example of what  kind of process?

a. People processing

b. Possession processing

c. Mental stimulus processing

d. Information processing

7. Imagination Theatre puts on a show every month. They take  reservations, provide valet service at the door and snacks and  beverages during intermission, they usher people to their seats and  give each person a bulletin when they walk in. The show is an example

of a ___ service, while the reservations, valet, food, and bulletins are  examples of ___ services.

a. Primary and secondary

b. Core and supplemental Don't forget about the age old question of What are the three instances of lawful purpose?

c. Major and minor

d. True and accessory

8. Determining the number of outlets and the convenience of your service falls under which aspect of the marketing mix

a. Place

b. Product

c. Promotion

d. Price

9. Because Amazon can obtain customers’ personal information and track their purchases, they might lower the price for a product if you are  student, but they will raise the price of that same product if they know  you are a professional with a steady income. This pricing strategy is a. Revenue-oriented

b. Customer-oriented

c. Operations-oriented

d. Patronage-oriented

10. A high-end hotel that turns down customers’ beds and places  chocolates and mints on their pillows exemplifies Level 1 relationship  Marketing If you want to learn more check out How does hemoglobin know when to let go of oxygen?

a. True

b. False

11. In the communication process, ____ occurs when the marketing  manager creates an advertisement to communicate ideas.  a. Reception

b. Decoding

c. Encoding

d. Feedback

12. In a mass communication, there is low reception due to the high  noise level

a. True

b. False

13. If Dominos wanted to influence behavior and get people to buy  their pizza instead of Papa John’s, they would use ____ promotion  a. Informative

b. Persuasive If you want to learn more check out In what stage of motor proteins is the separation of chromosomes?

c. Reminder

d. Connecting

14. For the brand new Apple Pen, Apple released a commercial  showing all the various uses for their product. They are practicing ____  promotion

a. Informative

b. Persuasive

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c. Reminder

d. Connecting  

15. The goal of advertising is to drive immediate purchases and to  influence behavior

a. True

b. False

16. Kroger wanted to boost sales and retain customer’s loyalty by  running a contest where every time a customer used their Kroger card, they were entered to win a $10,000 gift card to Kroger. This contest is  an example of  

a. Personal selling

b. Public Relations

c. Sales Promotion

d. Advertising

17. A product that has a high value with few customers in a  concentrated area would be best promoted by

a. Personal selling If you want to learn more check out What is the ph of water?

b. Public Relations

c. Sales Promotion

d. Advertising

18. The AIDA concept aims to encourage consumers to buy a product or take an action. The acronym stands for  

a. Ask, Interact, Describe, Adapt

b. Attend, Inform, Describe, Act

c. Analysis, Implication, Decoding, Alternative

d. Attention, Interest, Desire, Action

19. Public relations’ greatest impact is

a. Gaining attention of goods and services

b. Attracting attention and building goodwill

c. Creating strong desire and purchase intent

d. Reaching mass audiences and engaging with customers 20. The message consumers receive – whether from a sales person,  magazine ad, social media, or promotional event – should be the same  describes  

a. The promotional strategy

b. The marketing objectives  

c. Integrated marketing communications

d. The promotional mix

21. When a wholesaler promotes to a retailer, and a retailer  promotes to consumers, a ____ strategy is used

a. Pull

b. Push

c. Direct

d. Indirect

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22. When Wal-mart decided to improve its check out process and  improve appearance of some of its stores to keep high-end customers  happy and increase their customer base, they were practicing  a. Sales maximization

b. Satisfactory profits

c. Profit maximization If you want to learn more check out What are the four stages of the business cycle?

d. Target ROI

23. In the late 1990’s when CD players first came out, they cost  between $400 - $500. In 2001 they dropped to around $100, then in  2004 you could buy one for about $50. This example demonstrates a. Skimming Pricing

b. Penetration Pricing

c. Discount pricing

d. Profit maximization pricing

24. A firm will use penetration pricing in order to  

a. Gain mass audiences in the hope that they can later raise prices b. Increase market share and therefore increase profits

c. Reward customers if they promote the product or pay early d. Target audiences who are interested in quality, style, or  uniqueness and willing to pay a higher price  

Determine whether each statement has elastic (E) or inelastic (I) demand

25. _____ High inflation rate  

26. _____There are many substitutes for a product

27. _____There is only one use for a product

28. _____Gas, medicine, surgical operations

29. _____ Price is so low that it has no affect on purchasers’ budget

30. Yield Management System is a technique that companies utilize  _______ to maximize their revenue by discounting early purchases and  limiting early sales at these early prices

a. Price elasticity

b. Dynamic pricing

c. Profit maximization

d. Sales maximization

31. When a wholesaler or retailer establishes price based upon the  cost of buying the product from the producer (not the actual cost to  make it) then sells it at a higher price, they are practicing

a. Break-even pricing

b. Profit maximization pricing

c. Markup pricing

d. Elastic pricing

32. Seasonal, functional, and cash discounts all lower the base price  in order to

a. Meet promotional and positioning goals

4

b. Adjust for competition in certain markets

c. Meet government regulations

d. All of the above

Match the pricing tactic with the correct description

33. _____ Bait Pricing a. The outdated form of pricing that  starts with the customer then  

considers the competition and  

associated costs, and finally  

determines the price

34. _____Single-Price Tactic b. Marketing two or more separate  products in a single package for a  

special price

35. _____ Geographic Pricing c. Offering a product line with  several items at specific price points

36. _____ Value-based  pricing

d. When a product is sold at a lower  price than the cost in the hopes that a customer buys other products  once they are in the store

37. _____ Price Lining e. Pricing odd numbers to connote a  bargain, pricing even numbers to  

signify quality

38. _____Flexible Pricing f. Offering the same price for all  goods and services

39. _____ Leader Pricing g. The strategy of moderating the  impact of shipping costs on distant  

customers

40. _____ Price Bundling h. Establishing two separate charges to consume a single good

41. _____ Odd-even Pricing i. A deceptive, misleading form of  pricing that tries to get the  

consumer through the door and  

pressure them to buy a high-priced  

product

42. _____Two-part Pricing j. Used by people with certifications,  training, or lengthy experience

k. Different customers pay different  

prices for the same good sold in the  

same quantity

5

43. _____ Professional  Experiences

Answers

1. C

2. D

3. A

4. D

5. C

6. B- Possession processing is customer service directed at customer’s  personal possessions

7. B – Core service is the main benefit the customer is buying while a  supplemental service enhances or supports the core service 8. A

9. D – Patronage-oriented marketing maximizes the number of customers  by varying the price

10. B – This is Level 3; they develop not only financial and structural  bonds, but they create structural bonds to add value that other firms  can’t offer

11. C

12. A – Mass communication aims to target large audiences,  therefore there is more noise (anything that interferes or distorts the  communication message) and a lower reception level.

13. B – Competitive, mature products will use persuasive promotion  in order to encourage brand switching, and aims to convert brand  users into loyal customers.  

14. A – Informative promotion; this is new product in the introductory product life cycle and a commercial that explains how to use the  product is necessary to explain to people what their product is about

15. B – The goal of sales promotion is to drive immediate purchases  and to influence behavior, while advertising gives consumers a reason  to buy their product by informing them of their imbalance between  their present state and desired state

16. C – Sales promotion includes things like contests, free samples,  sweepstakes, vacation getaways, and coupons in order to complement  other advertising and boost sales.

17. A – personal selling is used for products with a high value,  technically complex, custom made, and very few customers. It can be  a face-to-face interaction, a presentation, or an over-the-phone  conversation.

18. D – Attention: the marketer must first get the target market’s  attention about the product. Interest: Interest in the product is  important if marketers want the product to sell. Desire: The marketers  must persuade potential customers that their product is necessary and better than competitors’ products. Action: Finally, the customers must  make the decision to buy the product or service.

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19. B – Public relations entails gaining attention and building goodwill by sponsoring community events.  

20. C – Integrated marketing communications is the coordination of  all promotional messages to ensure consistency across all mediums  and to ensure the target market is receiving the same message

21. B – Push strategy is used by retailers to “push” customers to buy  products through advertising, displays, and other promotional channels 22. C – Profit Maximization means setting prices so that total  revenue is as high as possible; this can be done by increasing  customer satisfaction or operating more efficiently

23. A – Skimming pricing; a firm charges a high introductory price.  This is effective for products that have an inelastic demand, are  unique, or when there is legal protection of the product.  

24. A – penetration pricing sets prices relatively low in hopes of  gaining a mass audience. This is effective for products with a high  sales volume, mass production, little room to adjust prices, not for  prestige products.

25. E – When the inflation rate is high, consumers are price sensitive, therefore they find many uses and applications for other products  making demand relatively elastic

26. E – When there are many substitutes for a product, if a price is  too high for one product, they can easily switch to another, making  demand elastic

27. I – When a product only has one use and there are no close  substitutes (i.e. medicine), no matter how much it costs, consumers  will still buy it, making demand inelastic

28. I – Gas, medicine, and surgical operations all have inelastic  demand because they are necessary products

29. I – Demand will be inelastic if a product’s price is so low that it  has no effect on buyers’ purchasing power

30. B – YMS use a complex mathematical software to adjust prices to profitably fill unused capacity by discounting early purchases, and  limiting early sales at these discounted prices

31. C – Markup pricing does not directly analyze the direct cost of  production but rather the cost of buying the product from the producer. *Note: this type of pricing is used by wholesalers and retailers;  producers tend to use profit maximization to determine the price

32. D –All of these answers are reasons why firms use fine-tuning  approaches  

33. I

34. F

35. G

36. A

37. C

38. K

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39. D 40. B 41. E 42. H 43. J

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