Chapter 11-15 FINAL MRKT

Supply chain management may require that all firms in the supply chain share sensitive and proprietary information about customers and corporate strategic plans
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Business marketers should base their pricing decisions primarily on cost and competitive considerationsFalseDifferentiation value is the value associated with product features that are unique and different from competitorsTrueRecent research indicates that highly satisfied customers are just as sensitive to price changes as customers with low to moderate levels of satisfactionFalseWhen introducing a new product in which it is not clear as to what price to charge initially, price skimming may be a good ideaTrue - Highest price initially that people will pay and lower it over timeWhen responding to a price attack by an aggressive competitor, it is best to fight them by using their own rulesFalseThe price elasticity of demand1) Is not the same at all prices 2) Varies by industrial market segment 3) Is relatively easy to measure in the industrial market 4) All 5) Both 1 and 2****Successful pricing strategies are:-Value based -Proactive -Profit-drivenConcerning pricing and the competitive environment, which of the following statements is(are) accurate? a. Competition establishes an upper limit on price. b. Late entrants to the market often enjoy potential cost advantages over the pioneering firm. c. Competitors will be more sensitive toward price reductions that threaten market segments that they deem important. d. all of the above e. (a) and (b) onlyDThe degree of latitude that an industrial firm has in setting prices above those offered by competitors is dependent upon:The level of differentiation that the product enjoys in the perceptions of organizational buyers.The competitive bidding approach that may include deliberations with suppliers throughout the bidding process is referred to as:Open BiddingThe organization buyer may read every word of the ad copy, and find a meaning in it quite opposite from that intended by the advertiserTrueMeasuring Advertising Effectiveness means assessing advertising's impact on salesFalseInternet marketing costs far less than direct marketingTrueEven though a publication has a high cost-per-thousand basis, it may in fact be a cost-effective alternative due to a low rate of wasted circulationTrueRecent research indicates that follow-up sales efforts generate higher sales productivity when customers have already seen a company's products at a trade showTrueBecause budgeting is so important to advertising effectiveness, managers must closely follow rules of thumbFalseA useful method for determining the size of the business or industrial advertising budget is:The objective-task methodConcerning business-to-business advertising media, ______ publications are directed at a specific industry and may be read by everyone from foreman to company presidentVerticalConcerning business-to-business advertising media, _____ publications are directed at a specific task, or function, whatever the industryHorizontalThe cost of reaching a prospect at a trade show is approximately:$250The balanced scorecard measures the performance of a business unit from:-A customer perspective -A financial perspective -A learning and growth perspectiveThe level of marketing control that examines whether the strategy is being implemented as planned and whether it produces the intended results is termed:Strategic ControlThe ______ is a comprehensive, periodic and systematic evaluation of the firm's marketing operation which analyzes the market environment and the firm's internal marketing activitiesMarketing AuditThe purpose of annual plan control is to:Examine whether the planned performance standards are being achievedFlagstaff Electrical Supply wonders whether they are spending too much or too little on various elements in their marketing program. Which of the following tools would appear to be most appropriate in examining the efficiency of operations?Expense-to-sales ratio analysisWhich of the following statements concerning an ABC are correctBoth ABC analysis illuminates exactly what activities are associated with a particular product or customer segment and how these activities are linked to the generation of revenues and the consumption of resources and ABC analysis segregates the expenses of indirect and support resources by activitiesMarketing managers who are flexible and intelligent in dealing with the firm's information and control systems are exhibiting good _______ skillsMonitoringWhich of the following are steps in the planning process that utilized the Balanced Scorecard and a Strategy Map to build a tightly integrated marketing strategy?-Define financial objectives -Define the Customer Value Proposition -Identify the Critical Strategic Themes and Internal Processes_____ represents the portion of total purchases in a product and service category that a customer makes from the firmShare-of-WalletThe goal of _______ is to describe where the firm is making or losing money in terms of the important segments of its businessProfitability Control