Download Units 1 and 2 - Questions

1. What are the 4
elements of the
Marketing Mix?
24. Name 3
demographic variables.
2. A tangible object
that you can touch or
feel.
25. A system for
measuring consumers’
beliefs, opinions and
interests.
3. Non industrial
products intended for
personal use by the
general public are
known as:
26. Includes variables
such as community
size/type, location, and
climate.
4. An activity
performed for others.
27. Name 2 behavioural
variables.
5. These are the two
main forces in any
market.
28. This theory says that
consumers are motivated
to buy products that
produce positive effects
and avoid products that
produce negative effects:
6. People tend to buy
more stuff when that
stuff is cheaper; this is
called the:
29. Maslow’s Hierarchy
of Needs has this many
levels.
7. The Law of Supply says
that a ____________
quantity of goods will be
produced when the price
is _____________.
30. Name the levels of
Maslow’s Hierarchy in
order.
8. The supply and
demand curves meet
at the ___________.
31. Culture, family,
friends and coworkers
are all part of this
purchasing influence.
9. Give one reason
why consumer
demand may change.
(NOT PRICE!)
32. Purchasing
influences that come
from the environment
are called:
10. What is elastic
demand?
33. How many levels of
purchasing decisions
are there?
11. Antiques and
airplane seats are
goods with this type of
supply.
34. This type of
purchase decision is
made quickly, based on
experience or brand
loyalty.
12. This supply
situation has only one
producer.
35. This type of
purchase decision is
made with a lot of
planning and research.
13. This supply
situation has many
producers and many
buyers.
36. This allows a
consumer to compare
the benefits of a
product with the costs
of obtaining it.
14. This supply
situation has a few
producers and many
buyers.
37. The systemic collection,
analysis, and interpretation
of information used to
develop a marketing
strategy or solve a marketing
problem.
15. Canada is a
___________ society,
where competition is
allowed and
encouraged.
38. This type of data is
information that has
already been collected
and analyzed by
someone else.
16. What are two
benefits of
competition?
39. When you did your
market research
assignment, you
collected this type of
data.
17. What is indirect
competition?
40. What are the two
methods of Primary
research?
18. The percentage that
one company’s product
takes of the total dollars
spent by consumers within
a specific market category
is known as:
41. Give an example of
a close-ended question.
19. Market Categories
break down into Market
Segments. If “Automobiles”
is the category, name 2
possible segments.
42. Give an example of
an open-ended
question.
20. Dividing the
market into smaller
sub-groups based on
shared characteristics
is known as:
43.
This market research tool
may involve picking a city that
mirrors the rest of the country
demographically, and launching
a product here for the first
time.
21. A specific consumer
segment that will be
most interested in the
product and to which
particular products are
directed.
44. A small group of
people brought
together to discuss a
particular product or
problem.
22. Name one problem
with Mass Marketing.
45. These may be
completed in writing,
over the internet, on
the phone, or through
mail.
23. Observable,
measurable
characteristics of a
population are known
as: