Marketing Final Exam Review 2

1

100

Why do marketers continue to gather information? A. Today's consumers are easy to please. B. The marketing environment is constantly changing. C. Marketers are decreasing their geographic scope. D. Competition in general has decreased.

B. The marketing environment is constantly changing

200

How could a business use marketing-research data it has gathered about the average age, income, educational levels, and spending patterns of area consumers? A. To identify problems within the business B. To create a mailing list for the business C. To develop a profile of the typical customer D. To establish an appropriate operating budget

C. To develop a profile of the typical customer

300

What research approach do businesses often use to test new product ideas? A. Questioning B. Technological C. Recording D. Experimental

D. Experimental

400

What would be the most appropriate pricing strategy for a business in a small town where unemployment has skyrocketed and the economy is in a downturn? A. Below-cost pricing B. High-level pricing C. Odd-cents pricing D. Flexible pricing

D. Flexible pricing

500

How do companies make brand promises to their customers? A. They provide customers with a sworn statement. B. They meet or exceed customer expectations on a consistent basis. C. Salespeople verbally make brand promises to each customer. D. They fulfill special requests for customers.

B. They meet or exceed customer expectations on a consistent basis.

2

100

How can businesses use computerized databases to sort and organize information about customers' purchases, brand preferences, and dollar amounts spent? A. To maintain sales strategies B. To prepare financial reports C. To develop inventory control plans D. To customize its marketing efforts

D. To customize its marketing efforts

200

What is an advantage of using secondary data in a marketing-research project? A. Less expensive to collect than primary data competitors B. More up-to-date than primary data C. Less likely to be available to D. More relevant than primary data

A. Less expensive to collect than primary data competitors

300

What is a common method of collecting research data that often involves the use of questionnaires? A. Case study B. Mail survey C. Message board D. Behavior chart

B. Mail survey

400

What pricing tactic might be considered questionable by some businesses? A. Matching the prices of a competitor B. Developing a complex pricing structure C. Marking up prices to earn a profit D. Providing a reference price

B. Developing a complex pricing structure

500

Why must all businesses incorporate their values into every aspect of their operations? A. This will reinforce their promises to customers and build the brands. B. It is less expensive to operate if everyone buys into the same thing. C. It gives businesses something interesting to advertise. D. There will be less employee resistance if there is a standard philosophy.

A. This will reinforce their promises to customers and build the brands.

3

100

How can using a database to track its customers' preferences and buying habits help a business? A. Decreases the need to analyze marketing activities B. Obtains additional deductions for its semi-annual tax return C. Reduces unnecessary operational expenses D. Builds strong, loyal customer relationships

D. Builds strong, loyal customer relationships

200

What research option usually answers questions related to "how many"? A. Intelligence B. Quantitative C. Syndicated D. Economic

B. Quantitative

300

What data-collection method can be used to obtain product information during the point-of-purchase process? A. Volume-tracking scanner B. Photographic scanner C. E-mail survey D. Statistical survey

A. Volume-tracking scanner

400

What is an example of an unethical pricing practice? A. A company prices its products low in an attempt to drive its competitors out of business. B. A business increases its prices when the cost of the materials to make the products increases. C. A firm sets a business objective to increase its profit margins over the next five years. D. A business prices a new product line to reflect high quality and status.

A. A company prices its products low in an attempt to drive its competitors out of business.

500

What is an example of an external factor that affects promotion? A. Reorganization of the business B. Increase in a product's price C. Government regulation of ads D. A change in distribution methods

C. Government regulation of ads

4

100

Which situation is an example of SUGGING? A. A salesperson offers a customer the opportunity to try an expensive product free of charge. B. A telemarketer asks a customer if s/he knows anyone who would want to buy a certain product. C. A marketer tells a customer that s/he is conducting research, and then begins a sales pitch. D. A business promotes a product by sending samples to its customers without authorization.

C. A marketer tells a customer that s/he is conducting research, and then begins a sales pitch.

200

What is an example of a secondary source of data that a business can obtain internally? A. Trade journal B. Sales report C. Government web site D. Magazine article

B. Sales report

300

What is an example of a marketing-research method that is used to collect primary data? A. Customer survey B. Census data C. Trade-journal article D. External reports

A. Customer survey

400

What is the advantage to a business of using bar-code pricing? A. Easier for customers to read B. Reduces required business security C. Easier to change prices D. Reduces number of employees needed for sales

C. Easier to change prices

500

What is an objective of institutional advertising? A. To support personal selling activities B. To demonstrate the organization's role in community affairs C. To introduce new goods or services D. To create consumer interest in the company's goods or services

B. To demonstrate the organization's role in community affairs

5

100

What is the most significant reason why marketing research is important to businesses? A. It makes competitors take notice of the business. B. It improves financial management. C. It contributes to business success. D. It helps the business to base decisions on opinions.

C. It contributes to business success.

200

What type of research is intended to obtain detailed data about customers' opinions and experiences? A. Sampling B. Qualitative C. Observation D. Forecasting

B. Qualitative

300

What costs do businesses usually include in the price of their products? A. Regulations B. Inflation C. Transportation D. Orientation

C. Transportation

400

A business charges a small company a higher price for a product than it charges a large company for the same product. What does this represent? A. Price discrimination B. Controlled pricing C. Price competition D. Regulated pricing

A. Price discrimination

500

How do competing businesses within the same industry usually react to each other's promotional mixes? A. By playing follow the leader B. By reducing their promotional budgets C. By trying not to outdo each other D. By changing distribution channels

A. By playing follow the leader