Ruth Cyboran and Luis Ross Recently Met Again at Their

question 31

Multiple Choice

Ruth Cyboran and Luis Ross recently met again at their 10th high school reunion. The men were close friends throughout school but lost touch with each other after graduation. They enjoyed their recent meeting and promised to keep in touch, especially because they had both chosen the same career--professional sales. Cyboran works for a paper company selling gift wrapping paper, ribbons, and boxes to retailers. Ross provides digital technology consultations to small businesses. Even though both believe in the Core Principles of Professional Selling, they both expressed concern about the new emphasis on relationship selling. Which of the following statements accurately depicts the activities of Cyboran and Ross?

• A) When Ross discusses discounts, he is dealing with the price element of the marketing mix, but when Cyboran describes discounts, he is dealing with the product element.
• B) Both Ross and Cyboran are discussing the place element of the marketing mix when they tell clients about using direct mail to locate potential customers.
• C) When describing warranties and guarantees to customers, both Cyboran and Ross are dealing with the product element of the marketing mix.
• D) Both Ross and Cyboran are dealing with the place element of the marketing mix when they discuss features and benefits.
• E) Customer service is not part of the marketing mix for either Cyboran or Ross because of the type of products they sell.

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Definitions:

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different buyers.

Economic Profits

The difference between total revenues and total costs, including both explicit and implicit costs, indicating the financial gain realized when accounting for opportunity costs.

Demand Schedule

A table that lists the quantity of a good all consumers in a market will buy at every different price.