About 30% of a product's retail price pays for the product's packaging, design, and development.
False
A company's existing and projected sales data are part of the marketing mix
False
What is the distribution channel a small textile company would most likely use in marketing its products?
Manufacturer hires agent who represents him or her in selling to industrial user
What is the most temporary pricing strategy?
promotional
According to public opinion survey, most Americans support less-wasteful, environmentally friendly packaging.
true
The Robinson-Patman Act of 1975 prohibits the practice of punishing retailers.
False
Soda Poppers is a store that features 375 varieties of popular, vintage, and novelty soda pop. The store also sells natural fruit soda in 25 flavors. Thus, the store offers its customers great product depth.
True
New products are most often concept-tested after they are introduced
False
An in-house sales force allows a company more control.
True
What transportation system has the best safety record?
pipeline
Shipping between ports in Seattle and Los Angeles is called intracoastal shipping
True
Computer technology and databases make flexible pricing more feasible
True
Intermodal transportation combines two or more transportation modes to maximize the advantage of each
True
A mortgage broker arranges for a bank to provide a mortgage for a customer or business. What is the channel of distribution for services?
indirect
Which key step of the product development process may take years--particularly for food and drug manufacturers?
product development
Many marketing researchers test-market brand names before advertising and promoting them.
True
Trade discounts are based on the manufacturer's list price
True
What type of transportation accounts for 1 percent of total ton-miles of freight shipped?
air
What is the first step in the procedure for determining an item's retail price when we know the items cost and the customary markup on retail?
determine what percentage of the retail price is equal to cost
Discounts can stimulate business for a company and encourage quick payments.
True
During which step of new product development do companies focus on evaluating new ideas for potential conflicts with existing products?
idea screening
What area of marketing research is concerned with size and location of a market, competition, and segmentation?
market intelligence
What is the public concern about marketing research?
product quality improvement
What is an important factor in determining a product's success or failure in the marketplace?
customer reaction to a product's package
What is an example of a group that specializes in marketing research?
Gallup Consulting
What is the least expensive means of product transportation?
trucking
What law prohibits companies from selling products at very low prices?
Unfair Trade Practices Law
During which product development step do companies consider factors such as a product's market size, potential sales, costs, and production requirements?
developing a business proposal
In what area of marketing research does Arbitron specialize?
media research
What is a firm's percentage of the total sales volume generated by all competitors in a given market?
Market share
What is the main focus of a distribution center?
Sorting and moving products
The major source of data on future economic trends such as inflation rates is the federal government.
True
What type of pricing strategy is everyday low pricing?
psychological pricing
What is the maintained markup percentage for a high-definition television that costs a retailer $365 to stock and that sells for $690 if the store wants to mark down the TV by 30 percent?
24 percent
What is the contract term 3/10 net 30 extra 60 an example of?
discount pricing
What does a brand name or brand mark become when it is legally registered
trademark
Outdated products in the United States may be in the growth stage in other global markets.
True
The Federal Aviation Administration regulates air freight charges.
False
The more unusual a product is perceived to be by consumers, the greater the freedom to set higher prices.
True
A consumer panel may be composed of a cross-section of people who share common characteristics.
True
Delene manages the Sweet Tooth Candy inventory at 20 supermarkets by refilling stock and maintaining the stores' Sweet Tooth displays. What is Delene?
rack jobber
What is the most likely channel of distribution used by manufacturers of flowers, candy, and stationery?
manufacturer to wholesaler to retailer to consumer
It is not possible to set a price too low because a target market will always be attracted to low-cost items.
False
A stationery and gift store has a sale on July 5th of all small American flags and of red, white, and blue paper goods. Customers are given 50% off the price. What type of discount is this?
Seasonal discount
which stage of a product's life cycle can be expensive?
Introduction
What type of transportation is convenient and can facilitate rapid deliveries.
trucking
What product was adversely affected by price wars?
fast food
Messages opposing the use of bovine growth hormone in cows are printed on the cartons of Ben and Jerry's ice cream. What type of packaging does this exemplify?
cause packaging
Retailers who are in business in states with minimum price laws are prohibited from using the loss-leader technique to attract customers.
True
Jana bought a new microwave oven as a Mother's Day gift. The original price was $95.99, but it had been marked down by 33 percent. What was the total cost to Jana, excluding tax, for the oven?
$63.93