Institutional advertising is limited to advertising sponsored by a specific profit-seeking group.

A full-service retailer usually sells convenience products that people can purchase without any assistance.

Compared with personal selling, advertising, and sales promotion, expenditures for public relations usually are high in most firms.

Skimming is an effective strategy to use when products are distinctive or have little competition.

Cooperative advertising campaigns originated to take advantage of the media’s practice of offering lower rates to local advertisers than to national ones.

Manufacturers’ brands are also called national brands.

Tide laundry detergent commands an extremely high market share. Purchasers of the product are extremely less sensitive to price changes. Based on this assessment, it can be said that Tide has high brand equity.

Feedback lets marketers evaluate the effectiveness of the message and tailor their responses accordingly.

Retailers achieve opening price point by pricing a quality private-label product above those of manufacturer’s brands.

Macy’s is a retail store that focuses on fashion-oriented merchandise, backed by a complete array of customer services. It can be considered as a self-service store.