Santa
Consumers who rely on impersonal or scientific information sources are called:
a. eggheads
b. nerds
c. innovators
d. laggards
c. innovators
A short hedge starts with a farmer BUYING or SELLING futures contracts?
Selling
Which tool of the promotional mix is most likely to be used to reach a wide audience very quickly?
a. public relations
b. direct mail
c. sales promotion
d. advertising
e. personal selling
d. advertising
The difference between the price that the consumers pay for the final product and the price received by producers for the raw product is known as the _____________.
Marketing bill or marketing margin
On average, how many years does it take to grow a Christmas tree?
a. 2 years
b. 50 years
c. 15 years
d. 25 years
c. 15 years
The type of trader who buys from farmers and sale directly to retailers in large volumes are known as
wholesalers
What marketing strategy is a company using if it develops a single marketing mix for the whole market and doesn't segment the market?
Mass (aka undifferentiated) marketing
Prospecting
If the local cash price is $3.50 and the nearest futures contract price is $3.80, basis is ________.
-$0.30.
In what country is it tradition to eat Kentucky Fried Chicken (KFC) for Christmas?
Japan
The quantity for one futures contact of corn, oats, wheat, and soybeans is what?
5,000 bushels
What do we call the price brands that customers judge the purchase price of goods and services against in their own minds?
In the diffusion innovation process, what is the second group of new adopters called, representing 13.5% of the total market?
early adopters
Aggressive pricing against a rival with the intent of driving them out of business is called what
predatory pricing
364
Segmentation pricing where varying prices are set for different groups of customers. What do economists call this approach?
Price discrimination
Setting a high price when a product is first introduced and then gradually lowering the price over time is referred to as...
Skimming
In a futures market, a ________ enters with an intent to earn a profit and bears the risk of the market
Speculator
A seed company that targets advertising to only large farms in a particular geographic area is engaged in market _______________.
Segmentation
What Christmas song was the first to be broadcasted in space in the year 1965?
Jingle Bells
State the five buyer categories of product adoption from earliest to adopt to latest to adopt
Innovators, early adopters, early majority, late majority, and laggards
The analysis that identifies and analyzes competitive forces that shape every industry and helps determine an industry's strengths and weakensses
Porters 5 Forces Model
What are the four stages of the product life cycle?
introduction, growth, maturity, and decline
A market with a single buyer is known as a _______.
Monopsony
What is the name of Santa's Alpine folklore counterpart?
Krampus