Final exam pool items (Chs. 9, 11, 12, 13, 14, 15 & 17 not 18)




НазваниеFinal exam pool items (Chs. 9, 11, 12, 13, 14, 15 & 17 not 18)
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LeBlanc's Pecan Company


Betty and Orville LeBlanc recently opened LeBlanc's Pecan Company retail store. In addition to shelled and unshelled pecans, the Texas store sells pecan pies, tortes, fruitcakes, fudge, pralines, chocolate pecan bark, to homemade pecan ice cream toppings, and jams and jellies. At this time, there are no other stores of this type in the Houston area. The LeBlancs are considering developing an advertising campaign for their store focusing on its wide assortment of pecan-related products. Orville LeBlanc has drawn up a list of communication tasks the advertising must accomplish. He used the DAGMAR approach to draw up this list. The new ads feature Betty LeBlanc talking to customers about the store's products. The ads have been placed on a local cable system.


139. Refer to LeBlanc's Pecan Company. The new campaign for the store is designed to stimulate demand for the LeBlanc's new store, given that the store is in the introductory stage of the product life cycle. The campaign would be considered:

a.

pioneering

b.

comparative

c.

institutional

d.

exclusive

e.

open-ended



ANS: A

The campaign is pioneering because it is designed to stimulate demand for a new store, given that the store is in the introductory stage of the product life cycle.


PTS: 1 REF: 225 OBJ: 15-2

TOP: AACSB Communication | TB&E Model Strategy | TB&E Model Product


140. Refer to LeBlanc's Pecan Company. The new LeBlanc's Pecan Company advertisements focus on the wide assortment of products available at the LeBlanc's store. This advertising highlights:

a.

a product attribute

b.

brand loyalty

c.

changing a negative attitude

d.

market share

e.

target markets



ANS: A

The wide assortment is a product attribute.


PTS: 1 REF: 226 OBJ: 15-3

TOP: AACSB Communication | TB&E Model Strategy | TB&E Model Product


141. Refer to LeBlanc's Pecan Company. When Orville LeBlanc created the list of communication tasks the advertising must accomplish, he was setting his:

a.

marketing mix

b.

media schedule

c.

advertising objectives

d.

advertising life span

e.

media profile



ANS: C

An advertising objective is a specific communication task that should be accomplished for a specified target market.


PTS: 1 REF: 226 OBJ: 15-3

TOP: AACSB Reflective Thinking | TB&E Model Strategy


142. Refer to LeBlanc's Pecan Company. The LeBlancs focused their campaign on reasons why customers should shop at their store. This is an example of:

a.

comparison advertising

b.

an advertising objective

c.

an advertising format

d.

advertising execution

e.

an advertising appeal



ANS: E

An advertising appeal is a reason for a person to buy a product.


PTS: 1 REF: 226 OBJ: 15-3

TOP: AACSB Reflective Thinking | TB&E Model Promotion | TB&E Model Customer


143. Refer to LeBlanc's Pecan Company. When Orville LeBlanc decided which media he would use to optimally and cost-effectively reach the store's target audience, he was engaged in developing a(n):

a.

marketing mix

b.

media plan

c.

promotional plan

d.

advertising campaign

e.

reach objectives



ANS: B PTS: 1 REF: 228 OBJ: 15-4

TOP: AACSB Reflective Thinking | TB&E Model Strategy


144. Refer to LeBlanc's Pecan Company. If Orville LeBlanc is most interested in audience selectivity and production costs, he should select _____ as the store's primary advertising medium.

a.

outdoor

b.

magazine

c.

cable television

d.

radio

e.

network television



ANS: D

See Exhibit 15.3.


PTS: 1 REF: 229 OBJ: 15-4

TOP: AACSB Reflective Thinking | TB&E Model Promotion


145. Refer to LeBlanc's Pecan Company. A feature article in a Houston newspaper describing the LeBlanc's Pecan Company store and what it sells would be an example of:

a.

newspaper advertising

b.

event sponsorship

c.

product placement

d.

competitive advertising

e.

publicity



ANS: E

Publicity is the effort to attract media attention.


PTS: 1 REF: 234 OBJ: 15-5

TOP: AACSB Reflective Thinking | TB&E Model Promotion

Chapter 17—Pricing Concepts


MULTIPLE CHOICE


1. According to the text, price is best described as:

a.

the perceived value of a good or service

b.

money exchanged for a good or service

c.

the psychological results of purchasing

d.

the cost in dollars for a good or service as set by the producer

e.

the value of a barter good in an exchange



ANS: A PTS: 1 REF: 255 OBJ: 17-1 TYPE: Def

TOP: AACSB Reflective Thinking | TB&E Model Pricing


2. Revenue:

a.

equals quantity sold times profit margin

b.

equals price minus costs

c.

equals return on investment

d.

is synonymous with profit

e.

equals price of goods times quantity sold



ANS: E PTS: 1 REF: 255 OBJ: 17-1 TYPE: Def

TOP: AACSB Reflective Thinking | TB&E Model Pricing


3. _____ pay for every activity of the company.

a.

Revenues

b.

Investments

c.

Retained earnings

d.

Profits

e.

Prices



ANS: A

Revenue is price times units sold, or the total inflow of capital that is available to pay for the costs of manufacturing the good and running the business.


PTS: 1 REF: 255 OBJ: 17-1 TYPE: Comp

TOP: AACSB Reflective Thinking | TB&E Model Pricing


4. Money that is left over after paying for company activities is called:

a.

return on investment

b.

a contribution margin

c.

profit

d.

net worth

e.

a current asset



ANS: C PTS: 1 REF: 255 OBJ: 17-1 TYPE: Def

TOP: AACSB Reflective Thinking | TB&E Model Pricing


5. At Wal-Mart, Randi saw a bag of daffodil flower bulbs and a box of plant fertilizer. The items, which were sold together, retailed at $28.50, but were marked down to $19.99. The $19.99 is the:

a.

revenue

b.

price

c.

profit

d.

liquidity value

e.

amortized value



ANS: B

Price is that which is given in exchange to acquire a product.


PTS: 1 REF: 255 OBJ: 17-1 TYPE: App

TOP: AACSB Reflective Thinking | TB&E Model Pricing


6. Which of the following statements about price is true?

a.

Price can relate to anything with perceived value, not just money.

b.

Price is that which is given up in an exchange to acquire a product.

c.

Customers are interested in obtaining a perceived reasonable price.

d.

The price paid is based on the satisfaction consumers expect to receive from a product.

e.

All of these statements about price are true.



ANS: E PTS: 1 REF: 255 OBJ: 17-1 TYPE: Comp

TOP: AACSB Reflective Thinking | TB&E Model Pricing


7. Which of the following statements about price is true?

a.

Price and revenue are synonyms.

b.

Price always equals some monetary figure.

c.

Price is not necessarily based on the satisfaction consumers receive from a product.

d.

High prices result in high profits.

e.

All of these statements about price are true.



ANS: C

Price can relate to anything with perceived value, not just money. The price paid is based on the satisfaction consumers expect to receive from a product, not necessarily what they actually receive.
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