Download BUSML 3250 Final Exam Latest 2025 Ohio State University Principles of Marketing Test and more Exams Marketing in PDF only on Docsity!
BUSML 3250 Final Exam Latest 2025 Ohio
State University Principles of Marketing
Test Complete Question And Answer
(Already Graded A)
In-store demonstrations, displays, sales, and loyalty programs are examples of ________. Sales Promotion A recent retail trend is to create limited-time retail facilities that let firms promote their brands to seasonal shoppers and create buzz in busy areas. What are these short-term establishments called? Pop-Up Stores The lighting in Jake's Steak Restaurant is dim. The chairs are covered in leather and each table is covered with a white linen cloth. The colors are limited to earth tones with an occasional splash of red. Patrons cannot hear any kitchen noises, only a pleasant melody that seems familiar but unrecognizable. The smells are extraordinarily varied. This is a description of the restaurant's ________. Atmosphere
________ buy mostly from producers and sell to retailers and industrial consumers. Wholesalers When a phone company releases its greatly anticipated new phone models at a premium price, only to discount them slowly over time, this is an example of a ________ pricing strategy. Market-Skimming Companies that set a low initial price in order to attract a large number of buyers quickly and win a large market share are employing a ________ pricing strategy. Market-Penetration Combo meals at fast-food restaurants are an example of ________ pricing. Product-Bundle
For companies such as Walmart or Southwest Airlines, which have worked hard to position themselves as the low-cost producers in their industries, it makes great sense to set prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for the company's effort and risk. This approach is known as ________ pricing strategy Cost-Based The ________ shows the number of units the market will buy in a given time period at different prices that might be charged. Demand Curve The term ________ refers to how responsive demand will be to a change in price. Price Elasticity From the economic system's point of view, the role of ________ is to transform the assortments of products made by producers into the assortments wanted by consumers. Marketing Intermediaries
In which of the following situations is the channel a direct marketing channel? A consumer stops at Dunkin Donuts on the way to work to buy a dozen donuts for the office. A(n) ________ consists of one or more independent producers, wholesalers, and retailers, each seeking to maximize its own profits, sometimes even at the expense of the system as a whole. Conventional Distribution Channel A ________ VMS consists of independent firms at different levels of production and distribution who join together through formal agreements to obtain more economies or sales impact than each could achieve alone. Contractual ________ VMS is a vertical marketing system that coordinates successive stages of production and distribution through the size and power of one of the parties. Administered
________ occurs when product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones. Disintermediation High-end department stores, such as Nordstrom and Neiman Marcus, which offer buyers more specialty products and actively seek to assist customers in every phase of the shopping process, are often referred to as ________. Full-Service Retailers Bass Pro Shop is in the process of converting a landmark 32 - story, stainless steel basketball arena in Memphis, formerly known as the Pyramid, into a huge Bass Pro Shops Outdoor World retail store. The facility will include a restaurant, aquarium, waterfall, as well as a hotel and museum. Shoppers will even be able to test drive watercraft from an adjoining marina on the banks of the Mississippi River. This is an example of a growing retail marketing trend known as ________. Experiential Retailing Retailers such as Walmart, Costco, ALDI, and Family Dollar are known for maintaining low prices and rarely offering sales or other discounts, a practice known as ________. Everyday Low-Pricing
The Brazilian sandal maker Havaianas is known for opening temporary stores, or ________, at beaches, festivals, and other summer hot spots around the world. Pop-Up Shops With increased availability of smartphones and mobile computing, many shoppers now check out merchandise at physical stores but then buy products online using a computer or mobile device, sometimes even while they are in the store. This practice is widely known as ________. Showrooming Which of the following is considered a traditional form of direct marketing? Face-to-Face Selling Which term best describes sites such as the New York Times on the Web and ESPN.com? Content Site
________ involves creating a Web site, video, e-mail, mobile message, advertisement, or other marketing event that is so infectious that customers will seek it out or pass it along to their friends. Viral Marketing ________ marketing features marketing messages and promotions delivered to on-the-go consumers through their handheld devices. Mobile Joanna uses her smartphone to accomplish many tasks everyday. She is also an avid shopper. Which online marketing tool will benefit Joanna the most to help her shop? Instant Deals and Digital Coupons Which term refers to an in-store machine that allows a customer to order merchandise not carried in the store? Kiosk If a company ________, it should adopt a product sales force structure, in which the sales force specializes along product lines.
Has numerous and complex products Robin works in a manufacturing company in Ohio. She sells products and handles customer requests via the company's online live chat feature. In her company, Robin is most likely a part of the ________. Inside Sale Force Ultra Tech Inc., a company manufacturing gardening tools, has decided to switch to a territorial sales force structure. Which of the following benefits is the company most likely to gain as a result of this decision? As each salesperson travels within a limited geographic area, travel expenses would decline. ________ consists of short-term incentives to encourage the purchase of a product or service. Sales Promotion ________ are like coupons except that the price reduction occurs after the purchase rather than at the retail outlet. Rebates
________ retailers in the United States are growing faster than product retailers Service A retailer that carries narrow product lines with deep assortments within those lines is classified as what type of retailer? In response to increasing the use of market segmentation, market targeting, and product specialization, there is a greater need for stores in this classification that focus on specific products and segments. Specialty Stores ________ are two or more outlets that are commonly owned and controlled Corporate Chains Daizy's is a shop that carries only plus-size clothing. According to this information, Daizy's differentiates itself from its competitors based on ________. Product Assortment Which of the following is the last step in the selling process?
Follow-Up Which of the following steps in the selling process is most focused on ensuring customer satisfaction and repeat business? Follow-Up A five-foot high cardboard display of Terry the polar bear, mascot of Terry's protein shake, next to the shelf containing Terry's products in a supermarket is an example of a(n) ________. Point of Purchase Promotion Producers of convenience products, such as bar soap and candy, typically seek to employ ________ distribution strategies. Intensive Many producers of luxury items purposely limit the number of intermediaries handling their products in order to enhance perceptions of the premium quality of their goods, a practice known as ________. Exclusive Distribution
An advertising objective is classified by its primary purpose, which is to inform, persuade, or ________. Remind Comparative advertising is also known as ________ advertising. Attack Frito-Lay was looking for new flavors for potato chips and ran a multi- stage contest among consumers who submitted ideas for new chips. Those entries eventually were narrowed to three flavors which were then manufactured and tested in the market. What tactic was Frito-Lay employing? Consumer-Generated Content The Progressive Insurance Ad campaign knows that the average person in the target market is exposed to the message 13 times in 3 months. What does this measure? Frequency
Franklin & Marshall College wishes to contact high school seniors at independent schools in Pennsylvania. Which of the following media would be most effective and efficient? A direct mail piece sent to selected students To break through the clutter, many marketers have subscribed to a new merging of advertising and entertainment, dubbed ________. Madison & Vine After creating a message strategy statement, the advertiser must develop a compelling ________ that will bring the message strategy to life in a distinctive and memorable way. Creative Concept Which of the following is a media measure? Click-through rate ________ is a measure of the percentage of people in a target market who are exposed to an ad campaign during a given period of time. Reach
With the widespread diffusion of smartphones, companies today increasingly use ________ to stimulate immediate buying, make shopping easier and enriching the brand experience. Mobile Marketing Marketers can now watch what's trending on social media and create marketing content to match. This practice is known as ________. Real-Time Marketing What is a price? The amount of money charged for a product or service. What is value-based pricing? Price is considered along with other marketing mix variables before the marketing program is set What are the steps in (customer) value-based pricing?
- Assess customer needs and value perceptions
- Set target price to match customer perceived value
- Determine the costs that can be incurred
- Design product to deliver value at target price What is cost-based pricing? Setting prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk What are the steps in cost-based pricing?
- Design a good product
- Determine product costs
- Set price based on cost
- Convince buyers of product's value What is competition-based pricing? Setting prices based on competitors' strategies, prices, costs, and market offerings What is a demand curve? A curve that shows the number of units the market will buy in a given time period, at different prices that might be changed
