Choice 1
Choice 2
Choice 3
Choice 4
Choice 5
100

What are the four types of competition?

Pure/Perfect, Monopolistic, Oligopoly, Monopoly

100

Give an example of a service.

Auto Rental, Banks, Nightclubs, Salons, etc.

100

What are the 4 elements in the promotional mix?

Advertising, Personal Selling, Sales Promotions, and Public Relations 

100

What is promotion (definition)?

communications used to inform, persuade, and remind a firm's target market audience and the firm and its product. 

100

What is the most expensive form of advertising?

Television Commericals

200

What are the five C's of pricing?

Company objective, costs, customers, channel members, compeition
200

Continuous, flighting, and pulsing are the 3 advertising schedules. Define each.

Continuous (year-round) - ad runs steadily throughout the year with no breaks.

Flighting (seasonal) - heavy spurts of ads during a specific season, event, or holiday.

Pulsing (mixed approach) - a combination of both continuous and flight with uptick advertising during certain times.

200

A direct channel of distribution is where the manufacturer sells directly to the consumer/end user. Provide an example of one.

Example from class: Nike has their own website where they sell and ship sneakers directly to consumers hands.

200

 Manufactuer ---> Wholesaler ---> Retailer ---> Consumer/End-User

What channel of distribution am I?

Traditional Channel of Distribution.

- Has two intermediaries (a person who acts as a link).

200

What is price skimming, and what stage is it in the product life cycle?

Price Skimming: initially pricing a product high to recover product costs and generate high profits while competition is limited.

**Introduction stage**

300

How do you calculate total costs?

Variable Costs + Fixed Costs = Total Costs

300

What is an advantage and disadvantage for samples?

Offers direct involvement with the product; high cost associated. 

300

McDonald's launched an exclusive Rick and Morty sauce but ran out of inventory quickly. McDonald's did not expect this outcome. This made fans of the show and restaurant furious and shared their displeasure online. As a result, McDonald's stock plummeted. Dr. Thanos labeled this as a __ nightmare. Fill in the blank.

PR (Public Relations)

300

Give an example of a supercenter.

Walmart, K-Mart, Target.

300

What are the three advertising categories?

Informational (awareness), persuasive (motivation), reminder (repurchase).

400

What are the three distribution intensities?

Intensive (all possible outlets with the widest possible exposure), Selective (specific number/limited), Exclusive (a single outlet for a product).

400

Sales-oriented focuses on increasing market shares through high-price tactics to generate volume & sales. True or false?

FALSE! Sales-oriented using low pricing tactics.

400

What is the difference between a category specialist and a department store?

Category specialist stores are discount stores that offer a narrow but deep assortment of merchandise, while department stores offer a broad variety and deep assortment while organizing their store into sections/departments.

400

What are the advertisement focuses? Define each.

Informational: focus on educating an audience about a social issue.

Product-Focused (most used): focus on informing and persuading consumers on a product or firm.

400

Variable costs vary with production value while fixed costs remain the same regardless of changes in volume and production. True or false?

TRUE!

500

What are the characteristics that make up an off-price and extreme value store?

Off-price stores have an inconsistent assortment of brand-name merchandise with low prices, while an extreme value store is small and offers limited merchandise at very low prices. 

500

Limited assortment and little service with low prices. What am I?

What is a Warehouse Club?
500

What are two benefits of a supply chain?

-Reduces the amount of inventory.

-Helps increase value for customers.

-Efficient and effective.

500

Reach x Frequency the equation used to calculate?

Gross Rating Points (GRP)

500

There are high costs associated with having me, but I simulate demands over time. What am I?

What are coupons?

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