True/False Indicate whether the
statement is true or false.
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1.
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Marketing has two fundamental roles: to sell what a business makes and to manage
its brand or brands.
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2.
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Marketing includes research, development, sales, advertising, production, and
promotion.
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3.
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Creating an image in the marketplace can cost a business anywhere from nothing
to hundreds of thousands of dollars.
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4.
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A trademark is a word or group of words that a business uses to distinguish its
products from competitor’s products.
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5.
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Logos can come in different forms, such as a monogram, a visual symbol, or an
abstract symbol.
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6.
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A short, catchy phrase that is usually attached to the company’s name and
logo is called a brand name.
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7.
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Brand identification includes having a name written in a distinctive style,
having specific colours associated with the product, and even having a distinctive design for the
package.
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8.
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The natural progression of a product life cycle is as follows: introduction to
growth to maturity to decision point to decline.
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9.
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Early adopters, or trendsetters, are those people to whom the marketers direct
their selling efforts.
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10.
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At the maturity stage of the product life cycle growth is flat (it does not
increase or decrease).
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11.
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Once a product reaches the decline stage of the product life cycle, it is doomed
and only will last as long as limited supplies of that product remain available.
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12.
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A new promotion campaign or the repricing of a product are examples of
brand-management decisions that could be made by a marketer at the final stage of the product life
cycle.
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13.
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The non-traditional product life cycle in which a product dominates a section of
the market, keeping competitors away, is called a niche market.
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14.
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A fad, or trend, is a product that is extremely popular for a short period of
time and can generate a lot of money for a company in a very short period of time.
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15.
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The four Ps of marketing include product, price, preference, and
promotion.
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16.
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When designing a package, product developers consider the package’s
functions, such as protection, usage, shape, and/or colour.
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17.
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Retail stores provide services to consumers that can add value to the products
that they sell, such as delivery, extended warranties, and free parking.
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18.
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When a product has been identified as price sensitive, the price of that product
will never change during the product life cycle.
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19.
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A direct channel of distribution is where a business sells to an intermediary
who then sells the product to the consumer.
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20.
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When consumers are buying goods from vending machines, catalogues, or a website,
they are using a specialty channel of distribution.
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21.
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A wholesaler is different from a retailer in the distribution chain in that
wholesalers deal directly with consumers.
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22.
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A promotion is any attempt to sell a product to a consumer and could include
coupons, premiums, and free samples.
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23.
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The competitive market and the consumer market are considered to be the two Cs
of Marketing.
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24.
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The competitive market deals with such things as demographics and the lifestyle
of the people who buy the products.
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25.
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The four standard rules for creating good advertising are attract attention,
gain interest, build desire, and get action.
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26.
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Advertising is the paid-for promotion of goods and services over a variety of
mass media to a target market of consumers.
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27.
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Advertisers use different categories to compare media and then select the right
one for their advertising. The category known as clutter means the ability of the media to focus on a
target audience.
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28.
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Motivation research is a type of marketing research that examines both the
emotional and the rational motives that influence a consumer’s buying decision.
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29.
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When researchers are using test marketing, internal information sources,
surveys, and focus groups, they are in the process of gathering secondary data.
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30.
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Data mining is a process where a business analyzes its own sales records,
inventory data, advertising and promotional results, and production statistics.
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Multiple Choice Identify the
choice that best completes the statement or answers the question.
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1.
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Marketing is all those activities involved in getting goods and services from
businesses to consumers and could include:
A. | research | B. | sales | C. | distribution | D. | all of the
above |
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2.
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Identify the one activity below that is not about marketing.
A. | spreading ideas | B. | promoting services | C. | converting raw
materials | D. | selling products |
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3.
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The logo is a special symbol that helps promote that product for consumer
awareness is also known as a
A. | trademark | B. | slogan | C. | brand | D. | tagline |
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4.
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Which of the following is the highest form of brand equity in the
marketplace.
A. | brand awareness | B. | brand loyalty | C. | brand
insistence | D. | brand identification |
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5.
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The stage of the product life cycle where marketers must carefully manage their
products is known as
A. | introduction | B. | growth | C. | maturity | D. | decision point |
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6.
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The stage of the product life cycle where marketers find that brand equity is at
its highest point is known as
A. | introduction | B. | growth | C. | maturity | D. | decision point |
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7.
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The non-traditional product life cycle where a knock-off is likely to surface is
called
A. | fad | B. | niche | C. | seasonal | D. | all of the
above |
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8.
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Many factors, such as design costs, prevent competitors from being profitable in
a given market. These factors are known as
A. | barriers to entry | B. | barriers to product
development | C. | barriers to sales | D. | barriers to life
cycles |
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9.
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There are four Ps of marketing, and the one that deals with the customer’s
perception of another company’s product value is
A. | price | B. | place | C. | promotion | D. | product |
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10.
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There are four Ps of marketing, and the one that deals with things like samples,
coupons, and special events is called
A. | price | B. | place | C. | promotion | D. | product |
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11.
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If product developers are dealing with the material used in construction, the
scent, the size, or the taste, they are concerned with a product’s
A. | design | B. | benefits | C. | features | D. | quality |
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12.
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This type of channel of distribution connects buyers to the business that is
providing the goods and/or services.
A. | indirect | B. | direct | C. | specialty | D. | non-specialty |
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13.
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When an indirect channel of distribution is used by a marketer, one or more of
the following intermediaries could be used.
A. | importers | B. | wholesalers | C. | retailers | D. | all of the
above |
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14.
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There are several specialty channels of distribution,but the one that is by far
the most important of the bunch is
A. | e-commerce | B. | catalogue sales | C. | telemarketing | D. | vending
machines |
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15.
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The name for the process that an advertiser uses when measuring the
effectiveness of a coupon promotion is called
A. | sales data | B. | coupon counting | C. | redemption
rate | D. | sales promotion |
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16.
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Customer loyalty cards are a sales promotion technique used by retailers and
categorized as a promotion under which heading?
A. | samples | B. | special events | C. | premiums | D. | contests |
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17.
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The competitive market consists of all the sellers of a specific product, and is
expressed most often in the following way.
A. | total sales | B. | total dollars | C. | total
profit | D. | total number of sellers |
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18.
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A part of the overall market that has similar characteristics is known as
a
A. | market demographic | B. | market share | C. | market
component | D. | market segment |
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19.
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Every business is in competition for the consumer’s
A. | disposable income | B. | discretionary income | C. | competitive
income | D. | gross income |
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20.
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Demographics is the study of obvious characteristics that categorize human
beings, which could include
A. | age | B. | income level | C. | ethnicity | D. | all of the
above |
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21.
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The study of the way people live, which includes values, beliefs, and
motivations is called
A. | psychographics | B. | psychology | C. | psychiatry | D. | lifestyles |
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22.
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The step in a good advertising campaign where the sales message is connected to
the consumer visual message is
A. | attracting attention | B. | gaining interest | C. | building
desire | D. | getting action |
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23.
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The part of a good advertising campaign where one asks for the sale to be
completed is known as
A. | attracting attention | B. | gaining interest | C. | building
desire | D. | getting action |
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24.
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Media information about a business that the business doesn’t pay for is
called
A. | advertising | B. | promotion | C. | sales | D. | marketing |
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25.
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Any advertising message that comes to your home, such as a flyer or catalogue is
a
A. | promotion | B. | out-of-home advertising | C. | publicity | D. | direct-to-home
advertisement |
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26.
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Advertising on the Internet consists of one or more of the following
approaches.
A. | company websites | B. | banner advertising on other
websites | C. | e-mail advertising | D. | all of the
above |
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27.
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The collection and analysis of information that is relevant to the marketing
strategy is known as
A. | marketing data | B. | marketing research | C. | marketing
studies | D. | marketing tools |
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28.
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The type of marketing research that discovers what kind of product is wanted in
the marketplace and predicts the overall sales potential for that product is
A. | consumer research | B. | motivation research | C. | competitive
research | D. | advertising research |
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29.
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Market research relies on two types of data, which are
A. | primary and tertiary data | B. | secondary and tertiary data | C. | primary and
secondary data | D. | all of the above |
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30.
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The survey that has questions that are complicated and require respondents to
develop their own answers are called
A. | open-ended questions | B. | observation questions | C. | closed-ended
questions | D. | focus group questions |
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