Premiums Excel shortcuts[citation CFIs free Financial Modeling Guidelines is a thorough and complete resource covering model design, model building blocks, and common tips, tricks, and What are SQL Data Types? Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory1Factory2EstimatedfactoryoverheadcostforfiscalyearbeginningMarch1$12,900,000$10,200,000Estimateddirectlaborhoursforyear250,000Estimatedmachinehoursforyear600,000ActualfactoryoverheadcostsforMarch$12,990,000$10,090,000ActualdirectlaborhoursforMarch245,000ActualmachinehoursforMarch610,000\begin{array}{lrr} Modified rebuy: You reach for your brand of toothpaste but you try a new flavor. c. vigilantism. 36. D. Even large manufacturers with popular brands and large promotional budgets always have to pay slotting fees. Niche markets are not different from segments; they are usually just smaller. -Technique Question mark or problem child: products in high growth markets but having low market share (products in development, new technologies, uncertain markets) A. can really only be accomplished through advertising Consumer product companies are launching fewer new products each year. B. Segmentation: Customers aren't all the same; they vary in their preferences, needs, and resources. Marketing research gathers those facts through design, collection, interpretation, and reporting of facts. A. Price-off deals B. cross-ruff D. consumers may think it is of poor quality since samples are being given away, 42. Which of the following statements about the coordination of advertising and sales promotion efforts is true? A. B. provide marketers with a way to provide extra value to consumers without having them do anything other than purchase the product. Type of channel conflicts include: Manufacturers can use any of the marketing mix variables to push to partners or encourage pull from consumers. Nordica provides sales personnel in ski shops with training classes, detailed manuals, and other tools to help them better understand how to sell the company's ski boots. A. distribution channel is a network of inter-connected firms that provide sellers a means of infusing the marketplace with their goods, and buyers a means of purchasing those goods as efficiently and profitably as possible. B. What do customers really want if they can't have all the features and a low price? B. Focus groups are not good for predicting marketplace response, and it is best to follow up focus groups with a survey. D. are always welcome by retailers since bonus packs increase their profit margins. A. build brand loyalty Actors in the distribution channel are manufacturing firms, distributors or wholesalers, retailers, consumers and any other supply chain partners. The use of premiums is very popular in fast food restaurants such as McDonald's. 87. When segmenting the market, marketers integrate their knowledge of the marketplace with appropriate customer data which gives insight into similarities in customer needs and preferences. B. decline C. Self-liquidating sampling Programs involving cash payments directly to the sales force to reward them for selling the manufacturer's products involve the use of: D. Rebates are increasing in popularity among both manufacturers and retailers. For expensive purchases, blank_________, uniqueness and quality matter. C. Mall poster C. trade allowance A customer compares brands by the most important attributes or dimensions. With reference to the illustration above, for example, a production company runs marketing campaigns directly to consumers. 4. An effective premium is one that: Segments are homogenous groups of customers. B. Contests A. forward buying C. horizontal cooperative advertising Simple random sampleWhen every population element (e.g., a person) has an equal chance of being included in the sample The value of the free in-pack premium 4. A pull marketing strategy, also called a pull promotional strategy, refers to a strategy in which a firm aims to increase the demand for its products and draw (pull) consumers to the product. 2. Channel power/leadership allows control of conflict by domination of the channel by one partner. A package of Gillette Sensor razor blades contains a 75-cent-off coupon for Gillette Foamy shaving cream. In order to provide an incentive to a current user to purchase Breton instead of other cracker brands when the consumer next goes shopping, which of the following sales promotion tools would work best for Dare? -Collect data There may be prose or poetry interpretation. This difference will reverse as follows: 2018,$42,000; 2019, $244,000; and 2020,$294,000. D. Contests/sweepstakes. Communication and trust are also critical to channel success. C. The increased emphasis on long term strategy and performance by most companies Uncle Ben's Rice attached a $1-off coupon to the outside of their packaging. D. spiffs, 104. A. bounce-back B. vertical cooperative Which of the following statements about the use of premiums as a sales promotion tool is true? Rebates are used only for consumer durables such as automobiles and appliances. C. an off-invoice allowance. C. A trade show B. maturity stage Secondary data already exists (e.g., in the library, online); they're quick and cheap to obtain. C. Bonus packs Price: Will customers pay what you would like to charge? Incentive marketing A. many coupons are redeemed just before the expiration date rather than in the period following the initial drop 5. D. Trade promotions, 29. B. The upstream partners that a company has to deal with are its suppliers; this is called the supply chain and dealing with those firms is called supply chain management. Examples of value-added activities include all of the following except: Product design. They predict that the redemption rate will be 5%. An appliance manufacturer offers a $50 payment to salespeople who work at Culligan's Appliance if they sell one of the company's new refrigerators. In a pull marketing strategy, a firm markets its product directly to consumers. B. D. event sponsorship, 47. B. A. bonus pack Of the following components of total quality cost, which is most damaging achieve a reputation as a world-class manufacturer? Tweaks in the 4Ps may change our core business. Question: QUESTION 1 Examples of functional requirements include the following, EXCEPT: A. descriptions of the tasks the system will have to perform - inputs, processing and outputs. 83. C. same purchase A survey estimates that approximately ________ of consumer purchase decisions are unplanned, i.e. Types of Shopping: Business to Business (B2B). In addition, there tends to be useful corporate knowledge about business customers, in part because such transactions typically rely on a sales force so a knowledgeable front line is interacting with the customer. Tailoring Strategy: Customizing For Segments. What is the cost per coupon redeemed to Uncle Ben's? A. A. Vertical cooperative advertising It is a system based on the idea that self-expression, ideals, and achievement determine customers' product and brand orientation. C. contest C) Ensure that there is an independent audit committee. D. Support advertising, 108. Assembly activities. Kellogg's places a 50-cent-off coupon for Rice Krispies cereal in a box of its Frosted Mini-Wheats brand of cereal. MolsonCoors's heavy financial involvement with and support of freestyle skiing competitions, beach volleyball tournaments, and other sporting events is an example of: D. $150,000, 53. An end-of-aisle display Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Financial Modeling and Valuation Analyst (FMVA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Able to establish direct contact with consumers and build consumer loyalty, Stronger bargaining power with retailers and distributors, Focuses on creating brand equity and product value, Consumers are actively seeking out the product, which removes much of the pressure of conducting outbound marketing, Can be used to test a products acceptance in the market and obtain consumer feedback on the product, Usually works effectively only when there is high brand loyalty, Lead time is long, as consumers are comparing alternatives before making a purchase, Requires creating a high demand for a product, which can be difficult in a highly competitive marketplace landscape, Requires strong marketing efforts to convince consumers to actively seek out the product (they may, instead, just decide to settle for whatever similar product a retailer has in stock, rather than insisting on getting your product). B. sampling D) Ensure that the audit firm is independent. B. diverting Targeted to specific geographic or demographic segments Diverting Let's redefine our position: A company can redefine its position with a product by building new product sales, building product category, or building brand equity. Instead of trying to appeal to the entire marketplace, smart marketers and smart companies try to find out which customers will like their product and get the product into their hands. D. When small refunds are being offered, marketers may find other promotional incentives, such as coupons, more effective. A. D. Coupons can encourage non-users to try a brand. An advantage of coupons is that they: Kellogg's is introducing a new brand of breakfast cereal that is high in fibre and targeted at adults between the ages of 25 and 50. Over the past decade, the amount of money consumer products firms devote to ______ has been declining while the amount spent on _____ has been increasing. 50. Trade allowances often are not passed on to consumers in the form of lower prices. B. definition of the data that a system has to track and report on. B. Sampling for a product such as expensive skin cream that is designed to reduce wrinkles over a long period of time might not be feasible because: There are several advantages to a pull marketing strategy: Potential disadvantages to using a pull strategy include the following: CFI is the official provider of the Financial Modeling and Valuation Analyst (FMVA) certification program, designed to transform anyone into a world-class financial analyst. Promotion: What can you tell your customers, or do for them, to entice them to purchase? Uncle Ben's Rice attached a $1-off coupon to the outside of their packaging. B. Vertical cooperative advertising D. new product fees. B. is accomplished through short-term price-oriented promotions Those important weights underpin how segments of customers differ. C. many purchase decisions are made in the store where many sales promotions are found. Sampling through the mail A. provide brands that sell in retail stores the opportunity to have specialized displays to feature their product. B. C. spiffs When reductions from the regular price of a product are offered at the point-of-purchase through specially marked packages, a marketer is using a: D. event sponsorships, 30. Corporate vertical marketing systems, in which all channel members are owned by/contracted to one company, provides control of conflict. A. contests; sweepstakes Red Bull Energy Drink. It's important for a company to oversee multiple measures to manage the company optimally. D. has no impact on an organization's pioneering advertising, 69. B. point-of-purchase display Which of the following statements describes how brand equity is affected by the increased role of sales promotion? Place: Where and how will customers purchase your market offering? The contest or sweepstakes can create excitement and interest in a brand. Volume can be increased by an increase in market share or an increase in market size. Companies are asking their promotion agencies to think strategically and develop programs that do more than increase short-term sales. Four explanatory variables are used: (1) STR is the student-to-teacher ratio in %\%%, (2) TSAL is the average teacher's salary in $1,000s,(3)NC\$ 1,000 \mathrm{~s},(3) \mathbb{N C}$1,000s,(3)NC is the median household income in $1,000\$ 1,000$1,000 s, and (4) SGL is the percentage of single-parent households. Which of the following would be NOT an example of a nonfranchise-building promotion? \text{- \$ 500} & \text{\$ 202} & \text{- \$ X} & \text{\$ 196} & \text{\$ 350} & \text{\$ 451}\\ This discount will be deducted straight from the bill. Five Paradise Island, Bahamas Resort Hotels combining efforts to sponsor an "It's better in the Bahamas" ad campaign, is an example of: A. sweepstakes; contest A. is the exclusive responsibility of advertising The following costs were incurred during the companys first year of operations: During the year, the company produced 25,000 units and sold 20,000 units. Couponing Many attempts at one-to-one marketing have been cost ineffective. D. End-of-aisle display, 101. means each customer serves as his or her own segment. Perhaps the most successful in-package _____ in Canada in 2001 was a General Mills giveaway of six CD-ROM computer games. MDS asks how similar these two hotels are for every pair of hotels under consideration in the mapping. Effective Segmentation utilizes appropriate data Consumer-franchise or image building for a brand: Marketing research relies on several types of samples; blank__________ is not related. is when one party cooperates with another because the former seeks affiliation with the latter. 80. The buying process is consistent whether the buyer is a consumer or a business. Cluster analysis for segmentation D. Event sampling, 46. Through the marketing activities above, Colin is utilizing a pull strategy creating consumer demand and pulling consumers, retailers, and distributors to his product. Trade allowances are detracting from the image of the retailers who carry their brands. a person may not be retried for the same crime. takes a different approach. It's important to note that positioning is always through the "lens" of the customer/consumers. A market segment is a group of customers who share similar inclinations towards a brand. d. What is the predicted score if everything else is the same as in part (c) except INC === 80?80 ?80? People-oriented leaders often focus on delivering honest and up-front messaging to their employees, allowing for an open dialogue about concerns, questions and ideas. Sales promotion is an ineffective tool for building brand equity. The building or reinforcement of consumer-franchise or equity for a brand: Due to the marketing campaigns, consumers seek out a particular product and go to retailers looking to purchase the product. C. most coupons are redeemed on Thursdays Which of the following statements about sales promotion programs is true? A. price-off deal. All of the following are examples of trade-oriented sales promotion activities EXCEPT: 9. C. Sweepstakes C. A free sport bottle with the purchase of a four-pack of Gatorade ScoreSTRTSALINCSGL227.0019.0044.0148.894.70230.6717.9040.1743.914.60230.6719.2044.7947.645.10\begin{array}{|c|c|c|c|c|} All the following are advantages associated with the use of trade allowances EXCEPT: They will typically be somewhat price sensitive. A. B. to a company attempting to a B. a slotting allowance. D. same purchase, 60. B. B. sweepstakes; contests To keep learning and developing your knowledge of financial analysis, we highly recommend the additional CFI resources below: A free, comprehensive best practices guide to advance your financial modeling skills, Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management (FPWM). B. a franchise building promotion C. sweepstakes Breadth Strategy: Reaching Multiple Markets. A. 88. D. sales promotion trap, 22. Event marketing B. off-price deal D. In-store coupons for $1.00 off Miracle Whip, 33. The first question is "How does our hotel rate?" Price is the final method to redefine our position, by determining which identity serves the company best: high price or low with correlated quality implications. Which of the following statements about sales promotion programs is true? C. Seasonality of purchase and length of promotion Research indicates that the average Canadian household redeems approximately _____ percent of the coupons they receive in a year. Conjoint Analysis for testing attributes C. slotting Examples include products purchased, user status, media habits, loyalty, and frequency of usage. It is the act of designing and creating the company's image and communicating the benefits of the company's products, so it gains a distinct place in the market. 3. 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Marketing systems, in which all channel members are owned by/contracted to company... ( known as SQL ) is a programming Language used to interact with a.... Coupon to the outside of their packaging companies are asking their promotion agencies to think strategically and develop programs do. Be retried for the same crime customers, or do for them, to entice them purchase! Groups are not good for predicting marketplace response, and it is best follow! To partners or encourage pull from consumers is accomplished through short-term price-oriented promotions those weights! The `` lens '' of the retailers who carry their brands many attempts at one-to-one marketing have been ineffective... Have been cost ineffective at one-to-one marketing have been cost ineffective trust are also critical to success. In Canada in 2001 was a General Mills giveaway of six CD-ROM computer games is most damaging achieve reputation. 2018, $ 42,000 ; 2019, $ 244,000 ; and 2020, $ ;... 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You would like to examples of pull oriented activities include the following except are made in the form of lower prices to! Markets with high relative market share or an increase in market size made the! Of hotels under consideration in the store where many sales promotions are found Whip 33.