Marketing Terminology
The action or business of promoting and selling products or services, including market research and advertising.
What is Marketing
Which of the following gestures would indicate a speaker's nervousness during an oral presentation?
A. Standing up straight
B. Maintaining eye contact
C. Speaking very quickly
D. Fidgeting with accessories
D. Fidgeting with accessories
In business ethics, the concept of "conflict of interest" primarily refers to:
A) Favoring one employee over another in promotions.
B) Making decisions that benefit oneself at the expense of others.
C) Engaging in unethical practices to achieve success.
D) Disclosing sensitive information without authorization.
B) Making decisions that benefit oneself at the expense of others.
31. Which of the following is an oligopoly:
A. Oil industry
B. Apparel industry
C. Food-service industry
D. Computer industry
A. Oil Industry
61. What activity is a marketing researcher performing when s/he counts the responses to a survey?
A. Assigning values
B. Tabulating data
C. Interpreting primary research
D. Developing a sample plan
B. Tabulating data
The practice of promoting a product by highlighting its unique features and benefits to attract consumers.
A) Sales Promotion
B) Product Differentiation
C) Brand Loyalty
D) Market Penetration
What is Product Differentiation
An important aspect of maintaining positive public relations is communicating with external audiences such as:
A. Stockholders, employees, and government agencies.
B. Local businesses, charitable organizations, and customers.
C. Charitable organizations, executive managers, and local businesses.
D. Customers, employees, and the board of directors.
B. Local businesses, charitable organizations, and customers.
19. Which of the following is an example of unethical business behavior in relation to information management:
A. Sharing customers' personal information to others with their permission
B. Telling employees that the business may monitor their telephone calls at work
C. Keeping employees' payroll records in unsecured computer databases
D. Using opt-in e-mail to communicate product information with customers
C. Keeping employees' payroll records in unsecured computer databases
33. Which of the following are types of corporate brands:
A. Disney, Apple, and Nike
B. Procter and Gamble, Mountain Dew, and Disney
C. Harley-Davidson, Apple, and Tide
D. Nike, Harley-Davidson, and Tide
A. Disney, Apple, and Nike
63. An electronics business decided to remove the X2L digital camera from its product mix because it was taking away sales from its FZG1 premier digital camera. This is an example of
A. product alteration.
B. product cannibalization.
C. inventory substitution.
D. inventory shrinkage.
B. product cannibalization.
Product, Place, Price, Promotion
A primary disadvantage of keeping business records in digital formats is that:
A. Records become inaccessible due to obsolete technology.
B. Businesses cannot update data quickly.
C. Businesses are unable to file documents on computers.
D. Documents must be kept for a minimum of three years.
A. Records become inaccessible due to obsolete technology.
The practice of whistleblowing is often considered ethical when:
A) It involves exposing minor issues within an organization.
B) The whistleblower stands to gain financially from the disclosure.
C) It reveals wrongdoing that endangers public safety or welfare.
D) It is done anonymously to avoid personal repercussions.
C) It reveals wrongdoing that endangers public safety or welfare.
68. Which of the following situations is most likely to cause the price of corn-based products to increase:
A. Corn producers reduce marketing activities.
B. The demand for corn-based products declines.
C. A long drought damages the corn crops.
D. The rate of inflation stabilizes.
C. A long drought damages the corn crops.
39. To build and repair bridges, Campbell Construction Company buys steel beams from Horton Manufacturing. In this situation, Campbell Construction Company is the
A. indirect agent.
B. wholesaler.
C. producer.
D. industrial user.
D. industrial user.
This type of research involves collecting and analyzing data that has already been gathered, rather than new data.
A) Qualitative Research
B) Quantitative Research
C) Secondary Research
D) Primary Research
This term refers to the understanding that one’s actions have consequences, both positive and negative.
A) Accountability
B) Responsibility
C) Causality
D) Liability
A) Accountability
You are a manager at a company and discover that one of your employees has been using company resources for personal projects during work hours. What is the most ethical action you should take?
A. Ignore the situation as long as productivity is not affected.
B. Confront the employee and warn them about their behavior.
C. Report the employee to higher management without discussing it with them first.
D. Discuss the issue with the employee privately and provide them guidance on appropriate use of company resources.
D. Discuss the issue with the employee privately and provide them guidance on appropriate use of company resources.
70. What happens when inflation increases?
A. Consumers can buy more for less.
B. Supply exceeds demand.
C. Purchasing power decreases.
D. Production efficiency increases.
C. Purchasing power decreases.
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This concept refers to the psychological phenomenon where consumers perceive a higher price as indicative of higher quality, often used as a marketing tactic.
A) Brand Equity
B) Price Quality Heuristic
C) Status Quo Bias
D) Anchoring Effect
B) Price Quality Heuristic
When evaluating the success of a marketing campaign, which metric is the most effective for determining its return on investment (ROI)?
A) Total reach of the campaign
B) Engagement rate across social media platforms
C) Conversion rate and revenue generated
D) Number of advertisements placed
C) Conversion rate and revenue generated
Which ethical framework considers the character and virtues of the moral agent rather than the rules or consequences of actions?
A) Deontological Ethics
B) Virtue Ethics
C) Social Contract Theory
D) Consequentialism
B) Virtue Ethics
7. Which of the following are listed as long-term assets on a balance sheet?
A. Land, cash, and mortgage
B. Buildings, vehicles, and capital equipment
C. Vehicles, insurance, and accounts payable
D. Capital equipment, mortgage, and inventory
B. Buildings, vehicles, and capital equipment
42. Tying agreements are illegal under which of the following conditions:
A. When they limit liability
B. When they prohibit monopolies
C. When they regulate promotion
D. When they reduce competition
D. When they reduce competition