MAR Final Study Guide Exam Questions & Answers 2024/2025
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Course
MAR
Institution
MAR
MAR Final Study Guide Exam Questions & Answers 2024/2025
The sensitivity of consumers to price changes is measured by the ______________. - ANSWERSprice elasticity of demand
A market skimming strategy should be used when consumer price elasticity of demand is ______________. - ANSWERSinelas...
MAR Final Study Guide Exam Questions
& Answers 2024/2025
The sensitivity of consumers to price changes is measured by the ______________. - ANSWERSprice
elasticity of demand
A market skimming strategy should be used when consumer price elasticity of demand is
______________. - ANSWERSinelastic
Merchandising includes ______________. - ANSWERSall the steps in the buying and selling of products
A retailer seeks store loyalty, as well as greater channel control. Which branding philosophy should the
retailer use? - ANSWERSprivate branding
Which of the following is not a merchandise source? - ANSWERSresident buying office
A retailer can most effectively track consumer purchases through ______________. - ANSWERSa
consumer loyalty program
Whereas image refers to how a retailer is perceived by customers, positioning refers to a retailer's image
with regard to its ______________. - ANSWERSdirect competitors
In a curving traffic flow, ______________. - ANSWERSa free-flowing pattern is used
A major advantage of publicity is ______________. - ANSWERShigh believability
Advertising, public relations, personal selling, and sales promotion are the four elements of
______________. - ANSWERSpromotion
, A retailer specifically attempts to increase its average sale through carrying complementary goods and
services in ______________. - ANSWERScross-merchandising
A major advantage to a straight (gridiron) traffic flow is that ______________. - ANSWERScustomers can
shop quickly
In a straight traffic flow, ______________. - ANSWERSdisplays and aisles are constructed in a rectangular
or gridiron pattern
A major disadvantage of advertising is that ______________. - ANSWERSthe message is standardized
and inflexible
In which product life-cycle stage do product sales reach their maximum? - ANSWERSmaturity
The physical characteristics of a retailer that are used to develop an image and draw customers
represent ______________. - ANSWERSatmosphere
A major advantage of advertising is that ______________. - ANSWERScosts per viewer, reader, or
listener are low
The form of promotion that can be distinguished by media payment, a nonpersonal presentation, out-of-
store mass media, and an identified sponsor is ______________. - ANSWERSadvertising
When the price elasticity of demand is elastic and prices go up, ______________. - ANSWERSrevenues
decline
A major advantage of a merchandising philosophy is the ______________. - ANSWERSintegrated buying
and selling effort
The way in which a retailer is perceived by customers and others is its ______________. - ANSWERSretail
image
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