Performance Indicator 1
A coffee shop wants customers to recognize its business right away. It creates a memorable name, logo, and style that make it stand out from other coffee shops. What is this called?
What is product/service branding? (PM:021)
A hotel posts an advertisement online to let people know about its rooms and special offers. What business activity is it using to attract customers?
What is promotion? (PR:001)
How can researchers protect the integrity of the marketing information they collect? A. By interpreting it correctly
B. By organizing it logically
C. By publishing it openly
D. By reviewing it frequently
A By interpreting it correctly. Marketing-information managers can protect the integrity of the information they collect by interpreting it correctly and not manipulating it in such a way that it agrees with a predetermined conclusion.
What is the first step to monitoring projects?
A. Gathering data using appropriate tools
B. Making changes and corrections
C. Deciding what to monitor and who will monitor it
D. Communicating changes to stakeholders
C Deciding what to monitor and who will monitor it. The first step of monitoring a project and taking corrective actions is to decide what to monitor and who will monitor it.
The specific group of customers a business chooses to reach.
Target Market
A clothing store asks customers what styles they like and uses their feedback to decide what to sell next season. What is the store using to guide its decisions?
What is customer voice? (PM:276)
A restaurant wants to attract families, so it advertises a kids-eat-free deal on the social media platforms those families use. What should the restaurant consider first when choosing where and how to advertise?
Who its target audience is and how best to reach it. (PR:003)
Businesses usually maintain customer sales records that contain information about the
A. types of products being purchased.
B. suppliers that provide the goods.
C. discounts offered by manufacturers.
D. cost of paying commissioned salespeople.
A Types of products being purchased. Businesses maintain a variety of records about the quantities and types of products that customers are purchasing.
When Jeremy develops his personal budget, he should categorize the money that he spends on food, clothing, and entertainment as
A. relational outflows.
B. variable expenses.
C. fixed costs.
D. periodic investments.
B Variable expenses. A budget is an estimation of income and expenses. Developing a personal budget helps individuals better manage their money
An estimate of how much a business expects to sell during a future period.
Sales Forecast
Two gyms offer similar memberships. One promotes its low prices, while the other highlights personal trainers and premium equipment. What is each gym trying to shape in customers' minds?
How customers perceive the business compared with competitors, or product/service positioning. (PM:042)
A travel company discovers that college students prefer affordable group trips, while older travelers often want more comfortable packages. How can the company use this information to market its trips more effectively?
What is market segmentation? (MP:035)
What best describes the goal of amplified word-of-mouth promotion?
A. Encouraging customers to provide both positive and negative feedback
B. Improving the quality of goods and services the business offers
C. Providing information to activists to share with others
D. Building loyal relationships with the customers
C Providing information to activists to share with others. Word-of-mouth promotion involves customers who tell others about their satisfaction with the business.
Which of the following is one way that workplace accidents are costly to employees: A. Lost sales
B. Lost production
C. Lost profits
D. Lost income
D Lost income. Workplace accidents are costly to both employees and employers. Some of the ways that accidents are costly to employees include missing work and losing income.
The place a company or product aims to occupy in customers' minds compared with competitors.
Brand Positioning
A company advertises a drink as “100% healthy,” even though it contains a large amount of added sugar. What should the company change to make its advertising responsible and trustworthy?
What is using business ethics in promotion? (PR:099)
A hotel uses online ads, email campaigns, and social media posts to reach potential guests. It tracks which methods lead to the most bookings and adjusts its spending accordingly. How is technology helping the hotel promote its services?
What is using technology in the promotion function? (PR:100)
The Walt Disney Company promoted Pocahontas by giving away free vacations to Walt Disney World through sign-ups in Target stores. This is an example of what kind of promotional tool?
A. Publicity
B. Sales promotion
C. Advertising
D. Personal selling
B Sales promotion. Sales promotion activities include contests, couponing, displays, free samples, or rebates used to stimulate purchases.
When a business has too much inventory on hand for an extended period of time, what type of business cost increases?
A. Holding B. Stockout C. Production D. Maintenance
A Holding. The money it takes to keep inventory in stock is called holding cost. Holding costs include storage space, taxes, and insurance
The use of data and analysis to understand marketing performance and support decisions.
Marketing Analytics
A company advertises a vacation package as “free,” but customers later discover that they must pay several mandatory fees that were not clearly disclosed. What should the company review to make sure its advertising follows the rules?
What is the regulation of promotion? (PR:101)
A hotel promises friendly, personalized service in its advertisements, but guests regularly experience rude employees and slow service. Why is this a problem for the hotel's brand?
Its promotional message does not match the experience customers receive, weakening the relationship between promotion and brand. (PR:422)
Marketers use data to determine pricing strategies such as
A. what products to offer.
B. how much of the product to create.
C. how much to spend on advertising.
D. when to offer a discount on the product.
D When to offer a discount on the product. Pricing strategies include determining what to charge for a product and also determining when to adjust the product's price by either raising it or offering a discount.
Purchasing specialists who buy items such as furniture, supplies, and uniforms for their own company are buying for A. transformation. B. retail. C. resale. D. business use.
D Business use. Purchasing specialists who buy items such as furniture, supplies, and uniforms for their own company to use are buying for business use.
Adjusting prices in response to factors such as demand, timing, inventory, or market conditions.
Dynamic Pricing