Marketing Mix
Which of the following is NOT an element of a firm’s marketing mix or the 4 “P’s” of marketing?
A.Place Strategy
B.Promotion Strategy
C.Product Strategy
D.Price Strategy
Environmental Strategy
E: Environmental Strategy
When evaluating international market segments, marketers should consider which of the following factors?
A.Economic
B.Political and Legal
C.Cultural
D.Only A and B
E.All of the above
E: all of the above
Marketing is best understood as the process of
Satisfying Customer Needs and Wants
Product ___________________ is a period of rapid market acceptance and increasing profits.
A.Development
B.Introduction
C.Growth
D.Maturity
E.None of these
C: Growth
The utility that is NOT created by the marketing process is :
A.Time
B.Form
C.Place
D.Ownership
E.None of the above
B: Form
A sales representative attempts to learn as much as possible about the prospective company and its buyers during the _______________ step of selling.
A.Approach
B.Pre-approach
C.Prospecting and Qualifying
D.Presentation and qualifying
E.Closing
B: Pre-Approach
Merchant wholesalers:
A.Own the goods that they sell
B.May be full service wholesalers
C.May be limited service wholesalers
D.All of the above
E.None of the above
D: All of the above
Which of the following is NOT one of the typical bases for segmenting the consumer market?
A.Geographic
B.Socialistic
C.Psychographic
D.Behavior
E.Demographic
B: Socialistic
A good package may?
A.Protect the product
B.Promote the product
C.Raise total distribution cost
D.Lower total distribution cost
E.All of the above
E:All of the above
The fastest and most expensive mode of transportation of products is by__________________.
Air
A market is a set of ____________________ buyers of a product?
A.actual
B.potential
C.None of the above
D.A and B
E.A and C
D: A and B
A person’s want becomes demand when backed by?
A.Needs
B.products
C.Purchasing power
D.Exchange Mechanisms
E.Desire
C: Purchasing Power
Marketing includes which of the following functions or activities?
A.Selling, advertising, and public relations
B.Needs assessment and product development
C.Pricing and Distribution
D.Only A and C
E.All of the above
E: All of the Above
Identify the proper order of a typical product life cycle.
A.Introduction, growth, maturity, decline
B.Introduction, maturity, growth, decline
C.Introduction, decline, maturity, growth
D.Decline, introduction, growth, maturity
E.Introduction, maturity, decline, disposal
A: Intro, Growth, Maturity, Decline
Marketing __________________ is the logic by which the business unit hopes to achieve its marketing objectives.
A.Mix
B.Strategy
C.Structure
D.Implementation
E.None of the above
B: Strategy
_________________ is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers?
A.Environmentalism
B.Consumerism
C.Protectionism
D.Conservationism
E.Consumers Union
B: Consumerism
A market skimming pricing policy.
A.Starts with a high price and is gradually lowered
B.Starts with a high price and stays high
C.Starts low and gradually raises it
D.Starts low and keeps it low
E.Both A and C
A: Starts high and is gradually lowered
The process whereby the seller distinguishes between market segments, selects one or more of these segments, and develops products and marketing mixes tailored to each segment is called_______________________ marketing :
A.Target
B.Mass
C.Product Variety
D.Customer Differentiated
E.Service
A: Target
The ______________ concept holds that all consumers will favor those products which offer the most quality performance and features and, therefore, the organization should devote its energy to making continued product improvements
A.Product
B.Warranty
C.Service
D.Marketing
E.Selling
A: Product
In marketing, the statistical study of the population is known as:
A.Economics
B.Technology
C.History
D.Demographics
E.Geography
D: Demographics
Organizations that buy goods that go into the making of other products make up the?
A.Industrial Market
B.Consumer Market
C.Supermarkets
D.Shopping Goods
E.Convenience Goods
A: Industrial Market
The coupon included in a newspaper advertisement is an example of:
A.An Advertisement
B.Personal Selling
C.Publicity
D.Sales Promotion
E.Public Relations
D: Sales Promotion
DAILY DOUBLE!!!!
Promotional campaigns which are directed to the audience’s sense of what is right and proper are ____________________ appeals.
A.Emotional
B.Economic
C.Rational
D.Moral
E.Psychological
D: Moral Appeals
An activity or benefit that one party can offer another, is essentially intangible, and does not result in the ownership of anything is called a?
A.Service
B.Asset
C.Consumer Good
D.All of the Above
E.None of the above
A: Service
The segment of the population selected to represent the population as a whole is called a(n):
A.Observation Group
B.Focus Group
C.Sample
D.Population Test Set
E.Focus Set
C: Sample