Business Exam #4

Front 1

The buying process is influenced by

Back 1

Perceptions, Attitudes, Peer Groups, and Family...

Least influenced by Productivity

Front 2

Which environmental force influences change in consumers' attitudes, customs, and lifestyles?

Back 2

Sociocultural

Front 3

When customers' needs vary, which approach is more appropriate?

Back 3

Market segmentation

Front 4

The last step in the marketing research process is

Back 4

reaching a conclusion.

Front 5

The elements in the marketing mix are used to

Back 5

reach the target market

Front 6

Which of the following is not one of the steps in implementing the marketing concept?

Back 6

1.Obtaining information about existing and potential customers
2.Pinpointing needs and potential customers for further marketing activities
3. Mobilizing marketing resources to provide, promote, and distribute products
4.Obtaining New Information about the effectiveness of efforts.

Front 7

When marketers use data such as sales figures, product and marketing costs, inventory levels, and activities of its sales force to make marketing decisions, they are using which type of data?

Back 7

Internal

Front 8

What element in the market mix provides information to consumers?

Back 8

Promotion

Front 9

When factors such as climate, city size, rural area, and urban area are used as indicators, the type of market segmentation.

Back 9

Geographic

Front 10

During the decline stage of the product life cycle, a product usually declines because of

Back 10

Technological Advances

Front 11

Psychological pricing strategies include

Back 11

multiple-unit pricing

Front 12

During which stage is the largest number of product ideas rejected?

Back 12

Screening

Front 13

What is a major problem with using cost-based pricing?

Back 13

It is difficult to determine an effective markup percentage.

Front 14

Product

Back 14

Can be an idea or a thing received in exchange.

Front 15

Product Line

Back 15

A Group of similar products

Front 16

Product mix

Back 16

Includes all products that a firm sells

Front 17

Penetration pricing

Back 17

A strategy of setting a low price for a new product

Front 18

Brand

Back 18

A name, symbol, or design that identifies a seller's products.

Front 19

Brand name

Back 19

The names IBM, Procter & Gamble, and Nike are examples.

Front 20

Brand mark

Back 20

a symbol or distinctive design of a brand.

Front 21

Price Lining

Back 21

setting a limited number of prices for selected groups or lines of merchandise.

Front 22

Odd-number pricing

Back 22

Pricing using odd number that are slightly below whole-dollar amounts.

Front 23

Private brand

Back 23

Sears' Kenmore is an example.

Front 24

Generic Products

Back 24

Products labeled with only the name of the product, such as peanut butter.

Front 25

Individual branding

Back 25

A firm uses a different brand on each its products.

Front 26

Family branding

Back 26

Branding strategy used by Sony and Dell.

Front 27

Packaging

Back 27

The basic function is to protect the product

Front 28

In which stage of the product life cycle do you find sales increasing, industry profit declining, pricing strategies becoming flexible and marketing incentives being offered?

Back 28

Maturity

Front 29

Which reason is not valid for rejecting a new product idea?

Back 29

The product would allow the company to gain a 10 percent market share.

Front 30

These statements are true about competition-based pricing?

Back 30

1.The seller emphasizes low price.
2.The seller may set prices below competitors' prices
3.A firm's costs and revenues are secondary to competitors' prices.
4.This strategy is important in markets where competing products are quite similar.

Not true...This strategy charges the highest possible price in the first stage of its life cycle.

Front 31

A set of attributes and benefits that has been carefully designed to satisfy its market while earning a profit for the seller is known as a

Back 31

Product

Front 32

These are concerns of product modification?

Back 32

1. Changing one or more of a product's characteristics
2. Existing customers must be able to perceive the modifications
3. Making the product more consistent with customer's desires
4. Making the product more versatile and convenient

Front 33

These service are provided to Manufacturers by Wholesalers?

Back 33

1. Assuming credit risks
2. Furnishing market information
3. Reducing inventory costs
4. Providing an instant sales force

Front 34

Which channel of distribution is the usual channel for perishable products?

Back 34

Producer to retailer to consumer.

Front 35

Public warehouses

Back 35

offer their services to all individuals and firms.

Front 36

A sales agent may

Back 36

represent more than one firm at a time.

Front 37

Which statement is not true about regional shopping centers?

Back 37

Regional shopping centers attract small independent stores over national stores.

Front 38

Wholesaler services to manufacturers include

Back 38

gathering information.

Front 39

A broker

Back 39

is likely hired on a temporary basis.

Front 40

Which of the following criteria for selecting a mode of transportation is least- or unimportant?

Back 40

Speed

Front 41

Which of the following statements is not true about catalog marketing?

Back 41

A. Catalog marketing provides limited services.
B. Customers find catalog marketing efficient and convenient.
C. Catalog marketing is effective for all types of products.
D. Retailers do not have to invest in expensive store fixtures.
E. Personal selling expenses are reduced.

Front 42

Which type of marketing intermediary takes title to goods?

Back 42

Merchant middleman

Front 43

Personal Selling

Back 43

It is the most adaptable of all promotional methods.

Front 44

Promotion mix

Back 44

a combination of methods to reach a target market.

Front 45

Cooperative advertising

Back 45

An arrangement where producer and retailer share the cost of advertising.

Front 46

Selective-demand advertising

Back 46

Designed to sell a particular brand of product.

Front 47

Comparative advertising

Back 47

Usually based on information from a study

Front 48

Selective-demand advertising

Back 48

Designed to sell a particular brand of product.

Front 49

Comparative advertising

Back 49

Usually based on information from a study.

Front 50

Institutional advertising

Back 50

Designed to enhance a firm's image.

Front 51

Creative selling

Back 51

It determines customer's needs and matches products with those needs.

Front 52

Advertising media

Back 52

Promotes broad product categories, through various forms of communication.

Front 53

Integrated Marketing Communications

Back 53

Ensures the maximum informational impact on customers.

Front 54

Infomercial

Back 54

Program-length televised commercial message.

Front 55

Trade salesperson

Back 55

Duties include restocking shelves and setting up displays.

Front 56

Technical salesperson

Back 56

Focuses on how to use a product or how to install it.

Front 57

Press Conference

Back 57

Important news is announced

Front 58

Buying allowance

Back 58

It is an incentive to resellers to handle a new product.

Front 59

The process of making potential consumers aware of products is known a

Back 59

Promotion

Front 60

Which factor does not influence the development of a promotion mix?

Back 60

1. Target market
2. Characteristics of the product
3. Productivity
4. Promotional resources available
5. Cost of promotional methods

Front 61

A sample is an example of

Back 61

sales promotion.

Front 62

When a firm wants to increase sales of its products and services, what would you suggest?

Back 62

Select the appropriate promotional mix.

Front 63

Advertising campaigns are developed to

Back 63

1. increase product awareness.
2. convey product information.
3. increase sales by a stated percentage.
4. expand the market share by a given amount.

Front 64

The content and form of an advertising message are influenced by the

Back 64

1. product's features.
2. objectives of the campaign.
3. characteristics of the target market.
4. choice of media.

Front 65

Promotional material mailed directly to individuals is known as __________ advertising.

Back 65

direct-mail advertising

Front 66

Selective-demand advertising

Back 66

Is by far the most common type of advertising.

Front 67

Television advertising

Back 67

reaches national markets.

Front 68

Creative selling involves perceiving buyers' needs, supplying information about a firm's products, and persuading customers to buy the product. Which type of salesperson does this job?

Back 68

Order Getter

Front 69

Personal selling

Back 69

It is the most adaptable of all promotional methods.

Front 70

Promotion mix

Back 70

A combination of methods to reach a target market.

Front 71

Cooperative Advertising

Back 71

An arrangement where producer and retailer share the cost of advertising.

Front 72

Selective-demand advertising

Back 72

Designed to sell a particular brand of product

Front 73

Comparative advertising

Back 73

Usually based on information from a study

Front 74

Institutional advertising

Back 74

Designed to enhance a firm's image.

Front 75

Creative selling

Back 75

It determines customer's needs and matches product with those needs.

Front 76

Advertising media

Back 76

Promotes broad product categories, through various forms of communication

Front 77

Integrated marketing communications

Back 77

Ensures the maximum informational impact on customers.

Front 78

Infomercial

Back 78

Program-length televised commercial

Front 79

Trade salesperson

Back 79

Duties include restocking shelves and setting up displays.

Front 80

Technical salesperson

Back 80

Focuses on how to use a product or how to install it

Front 81

Press conference

Back 81

Important news is announced

Front 82

Buying allowance

Back 82

It is an incentive to resellers to handle a new product

Front 83

The process of making potential consumers aware of products is known as

Back 83

promotion.

Front 84

Which factor does not influence the development of a promotion mix?

Back 84

These influence Promotion mix
1. Target market
2. Characteristics of the product
3. Promotional resources available
4. Cost of promotional methods

**Prodctivity does not influence development of P.M.

Front 85

When a firm wants to increase sales of its products and services, what would you suggest?

Back 85

Select the appropriate promotional mix.

Front 86

Advertising campaigns are developed to

Back 86

1. increase product awareness.
2. convey product information.
3. increase sales by a stated percentage.
4. expand the market share by a given amount.

Front 87

Television advertising

Back 87

reaches national markets.