25 True or False? Price discrimination is legal when a manufacturer and reseller reach an agreement upon a specified retail price for a product. 26 True or False? An omnichannel marketing strategy is a multichannel strategy. 27 Social media are a means for consumers to share text, images, audio and video information with each other and with companies. Social media allows marketers to establish a public voice and presence on the Web and reinforce other communication activities. Which of the three main platforms for social media is actually a regularly updated online journal or diary and has become an important outlet for word-of-mouth promotion? 28 True or False? A marketing channel is a set of interdependent organizations that ease the transfer of ownership, as products move from producer to business user or final consumer. 29 retailing uses a variety of channels in a customer shopping experience, including research before purchase. Such channels include physical stores, online stores, mobile stores, mobile app stores, telephone sales and any other method of transacting with customers. 30 True or False? Brand equity can be defined as a set of assets and liabilities) linked to a brand's name and symbol that adds to (or subtracts from the value provided by a product or service to a firm or that firm's customers. 31 is the pricing objective/strategy used to enter a market as a relatively high price point. The assumption is that a strong price-quality relationship exists for the product. a. Price Skimming b. Penetration pricing C. Profit Maximization d. Value Pricing e None of these