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5 - Objective 3.01 and 3.02
TRUE/FALSE
1. Most new products introduced by companies are not totally new, but are improvements on
existing products.
2. The first step in marketing research is to develop a data collection procedure.
3. The marketing mix refers to the blending of the marketing elements.
4. Finding solutions to problems through carefully designed studies involving consumers is
referred to as effective communication.
MULTIPLE CHOICE
1. Mary, a marketing research manager, is fortunate to have secured an advertising budget of
$30,000. This is an example of which marketing function?
a. Distribution
c. Pricing
b. Financing
d. Selling
2. The average cost for a popular pocketbook is $310. A local company has marked up the
selling price by 45%. What is the amount of markup?
a. $45.00
b. $139.50
c. $449.50
d. $549.40
3. Which is an EXAMPLE of personalized promotion?
a. Beck presented a seminar to 3000
c. Mary test drove several SUV’s at the
people to promote hand-held
Infiniti dealership.
computers.
b. Jade’s company posted flyers for
d. Whole Foods Company sponsored a
guest to see about her detox program.
health fair.
4. The best definition of marketing is:
a. Promotion and selling
b. Producing and distributing products
and services to customers.
c. Finding customers and convincing
them to buy your products.
d. None of the above is correct.
5. The two steps in a marketing strategy are:
a. Developing a product and promoting it c. Conducting marketing research and
to consumers.
planning production.
b. Identifying a target market and
developing a marketing mix.
d. Pricing a product and distributing it to
customers.
6. Which of the following is an example of a rational buying motive?
a. Love
c. Fear
b. Economy
d. Self-Image
7. The availability of a service must match the demand for that service at a specific time
because it is.
a. heterogeneous
c. inseparable
b. perishable
d. intangible
8. Which of the following conditions will result in a lower rather than a higher price?
a. a high customer demand
c. a products that has very few similar
competing products
b. a large quantity of available products d. all would result in lower prices
9. When businesses specialize in producing a specific type of product, a channel of distribution
will be needed to adjust differences in
a. timing
c. location
b. assortment
d. quantity
10. Which of the following is NOT a part of effective communication?
a. the sender
c. the advertisement
b. the receiver
d. information
11. The most expensive but also most effective type of promotion is:
a. personal selling
c. publicity
b. advertising
d. public relations
12. BP Gas Station offers a combo meal for $3.29 at its locations within five miles of fast food
restaurants. Which step of the marketing strategy have they performed?
a. Create a marketing mix
c. Identify a marketing mix
b. Create a target market
d. Identify a target market
13. Linda searched the Internet for reviews on a new cosmetic product. This is an example of
which type of consumer information source?
a. Media
b. Product Testing Organization
c. Government Agencies
d. Business Sources
14. Joe wanted specific advice on a new bike, so he visited a local bike shop. This is an example
of which type of store?
a. Department
b. Convenience
c. Specialty Retailer
d. Mail Order