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BUS1103_CH.11+12 REVIEW Flashcards | StudBud
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BUS1103_CH.11+12 REVIEW
BUS1103_CH.11+12 REVIEW
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Questions
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Answers
1
How many steps are there to product development?
10
5
6
7
2
Sales promotion activities generate
_____
sales.
Short Term
Long Term
No Term
Humongous Term
3
Which of the following is not part of the 'Basic' Marketing Mix?
Promotion
Process
Price
Product
4
What is penetration pricing
High price to gain customers
low price to lure customers away from competitor
Mid price to lure customers to competitor
5
What kind of sales promotion is the brand using?
Gift-with-purchase premium
Gift item
Bonus pack
Incentive
6
Which choice has the objective of complete market coverage?
exclusive distribution
selective distribution
intensive distribution
7
The customer is a part of the marketing mix and should be the target of all marketing efforts
True
False
8
Publicity can be displayed through
publications
radio
TV
all of the above
9
What is key to maintain a brand?
Nothing
investing in advertising and promotional campaigns
change the whole product
10
________ subjective opinions of customers about a product that cannot be measured or compared easily.
Intangible attributes of a product
Tangible attributes of a product
11
In some product categories, one brand becomes so powerful that it replaces the generic category name.
True
False
12
Which is an objective for Marketing Mix Product and Price?
Discuss the different distribution channels
Analyze the importance of the customer and customer relationship marketing
Understand the role of production and place in the marketing mix
Evaluate the methods used to measure the effectiveness of promotion
13
What is an example of a sales promotion?
a 15% discount t for products purchased on Mondays
an elevator speech
an internet banner ad
offering a free class on proper skin care for students
14
Which of the following is an example of a specialty product?
Model S Tesla
Ibuprofen
Lay's potato chips
Steel
15
Name the most valuable apparel brand in the world
Ralph Lauren
Nike
H&M
Zara
16
What is the second stage of the product life cycle?
Introduction
Saturation
Growth
Maturity
17
What is the order of the product life cycle?
Introduction, Process, Maturity, Decline
Introduction, Growth, Maturity, Decline
18
Setting a high price for a new product introduction
Penetration Pricing
Market Skimming
Dynamic Pricing
Price Discrimination
19
Packaging can help sell a product
False
True
20
the marketing mix consists of
price,place
product, promotion
place,promotion
product,price,place,promotion
21
....... is a market coverage strategy that decides to ignore market segment differences with one offer or strategy.
Event sponsorship
Mass marketing
One to one marketing
Product placement
22
Product life cycle
Introduction-growth-maturity-decline
Maturity-growth-decline-introduction
Decline-maturity-growth-introduction
Growth-introduction-decline-maturity
23
Measurable features of a product that can be easily compared with other products.
Tangible attributes of a product
Intangible attributes of a product
24
Which of the following are in the 'Decline' stage of the product life cycle?
iPhone 7
iPhone XS Max
Kellogg's Cornflakes
Cadbury's Dairymilk
25
Is this a pull or push strategy of marketing?
Pull Strategy
Push Strategy
26
How does Poland Spring Bottling company create more of a product mix than just water?
Plain water
Sparkling water
Flavored water
All of the above
27
Which is an objective for Marketing Mix Product and Price?
Evaluate the methods used to measure the effectiveness of promotion
Discuss the different distribution channels
Understand the role of production and place in the marketing mix
Analyze the importance of the customer and customer relationship marketing
28
What is an ad campaign?
The number of people who see an ad.
A convention for advertising brands.
A business that specializes in developing ads.
A series of ad messages that share a single idea and theme.
29
An important role for marketers in the product development process is to...
conduct marketing tests
gather information
design and marketing strategies
All of the above
30
a business can have only one product line
True
False
31
Amazon online retailer. Which
one
of the following marketing mix does this represent?
promotion
price
product
place
32
Describe the pricing strategy of 'market penetration'
Very low prices to undercut competitors
Extra high prices because the product will sell regardless
Lower prices and discounting
Competitive pricing
33
______________ Marketing refers to creating a buzz about the product or service
Influencer
Relationship
Guerilla
Viral
34
Intangible assets include
Trademarks
All of the above
Copyrights
Patents
35
What is market segmentation?
The staff are divided into groups
A market is broken down into sub-groups
A market has different competitors
A company is broken down into departments
36
A frozen dessert will be sold using the 'premium pricing' strategy. This will attract what type of customers?
pensioners
families with young children
gourmet consumers
university students
37
_________ using marketing activities to establish successful customer relationships.
Marketing Mix-Up
Market Research
Customer Relationship Management (CRM)
Marketing Mix
38
Which phase of the product life cycle deals with new models, colors, accessories?
Growth
Introduction
Maturity
Decline
39
When employing a push strategy, a manufacturer
advertises to wholesalers, retailers, & ultimate consumers with advertising
directs the promotions to channel members to get them to carry the product
directs retailers to certain products to balance fluctuations in inventory
forces a retailer to promote i by placing national ads in local newspapers.
40
What is Psychological Pricing
Price at .95 or little before full number
No comment
Price the same as the competition
Price below the economy price
41
Product Width is the number of lines a company carries
False
True
42
The four p's of the marketing mix are Product, Position, Promotion, and Price
True
False
43
Define Demographics in marketing
Very Realistic Pictures on a video Game.
Common characteristics of a group e.g. age, gender, income.
Someone who consistently uses crude and vulgar language.
A car race where the last car still running wins.
44
________ is defined as the end result of the production process sold on the market to satisfy a customer need.
Manufacturing
Product
Branding
Brand
45
A Strategy is a .....
smart thing to have while doing something
Action plan to reach a goal
Way of thinking
A way to do something
46
a business can have only one product line
True
False
47
which is not one of the Four stages to the Product Life Cycle
Maturity
Growth
Introduction
pricing
48
Product line is all the products offered by an organization
True
False
49
Which is considered a Specialty good?
Toilet Paper
Wood
Antique
Refrigerator
50
In product life cycle, the top of the graph is in the growth stage.
False
True
51
Which is NOT part of the procedure of developing an advertising campaign?
Prototype your product
Create an advertising strategy
Establish your budget
Define your market
52
Marketing mix is when only price and promotion collaborate
False
True
53
What is the first step in the product development process?
determine process steps
assign each component an identifier
generate product idea
give customer survey
54
The term marketing refers to
Sales Planning, Strategy and Implementation
Advertising, Sales Promotion, Publicity and Public Relational activities
A philosophy that studies customer value
New Product needs ideas, Developments concepts and improvement
55
What is a part of the product life cycle?
growin
grows
growth
green
56
Which of these is not a pricing strategy?
Premium pricing
Customer pricing
Market skimming
Penetration pricing
57
Which of these is the most valuable Global brand ?
Microsoft
Google
Apple
Amazon
58
Closely-related products are called the product _____
item
average
uniqueness
line
59
___ is
not
a stage of product development
testing
distribution
evaluating
screening
60
Pricing my new perfume at $49.99
Psychological pricing
High-low pricing
Price skimming
Price lining
61
_________ the four key decisions that must be taken in the effective marketing of a product.
Marketing Mix
Market Research
Marketing Mix-Up
Customer Relationship Management (CRM)
62
At which step are consumer needs first considered during a new food product development?
Production process development
Idea generation and screening
Pilot plant product screening
Prototype testing
63
What is the final step in the product development process?
Product Evaluation
Project Customer needs
Final Product Definition
Manufacture, delivery, and use
64
Which marketing strategy stimulates consumer demand to obtain product distribution?
pull strategy
push strategy
65
What are the advantages of Niche Marketing?
Pricing can be higher
Generate less sales
Pricing can be lower
Unsatuarated market ( Less competition)
66
Marketing is
All of these answers
Creating value
4 P's
Advertising and selling
67
What is the final stage of the product development process known as?
Concept Generation
Marketing Plan
Product Testing
Launch
68
Define Product(s) in marketing terms.
Helping Drake make a Hot Beat.
Working with the Director while Filmmaking
Making Good Use of your Free time.
Ways a business Satisfies needs with either goods/ services.
69
What is advertising?
An order to take back and repair.
An artificial 3D visual world created by a computer.
Channels of communication.
The public promotion of something to increase interest.
70
Major disadvantage of publicity
expensive
there aren't any
A business gives up control of their message
doesn't give up control
71
A successful brand is NOT the most valuable resource a company has.
True
False
72
Tangible means:
to be unable to walk
to jump very high
to be able to fly
to be able to be touched
73
Product Mix is:
Specific models, brands, or sizes of a product
Group of Closely related products
Assortment of products a business offers to meet customer's needs
74
Buzz marketing is
use of posters, magnets, stickers, etc., in high traffic areas
hype/buzz created around a product/service via paid reviews or endorsements
amplified/organic word of mouth that creates a hype around a product
75
What is the definition of Marketing
Creating, Interpreting and analyzing financial statments
Selling Different items in the grocery store produce section
Creating and maintenance of satisfying exchange relatioships
Hanging out with your friend Mark Ting.
76
The principal function of publicity is
building an image
none of the above
employees
business
77
Pricing is the source of
dollars
avenue
money
revenue
78
What are the four Ps in marketing?
Payment, Position, Production, Promotion
Payment, Place, Price, Promote
Place, Price, Product, Promotion
Place, Position, Production, Promote
79
Product depth is...
All the goods and services sold by a business
Why are you asking me this.
The number of product variations in a product line
I have no clue.
80
A penetration pricing strategy
Used by a business to attract a large share of the market
Usually results in high profit levels for the company
Frequently encourages other businesses to enter market
Used in maturity stage of the Product Life Cycle
81
______ is the pattern of sales recorded by a product from launch to exiting the market.
Product Portfolio Analysis
Product Life Cycle
Product Positioning
Extension Strategies
82
Which of these are NOT stages of a product life cycle
Decline
Decrease
Maturity
Growth
83
Which of these is a tangible feature
Reputation
Image
Duribility
Exclusiveness
84
______ is the consumer perception of a product or service as compared to its competitors.
Product Portfolio Analysis
Product Life Cycle
Extension Strategies
Product Positioning
85
The product area of the marketing mix may involve a service and/or a physical good.
True
False
86
The four ways to segment a market are:
Autographics, demographics, psychographics, behavioristics
Age, gender, location, income
Geographics, demographics, psychographics, behavioristics
Age, interests, intellect, motivation
87
What comes after "idea development" and before "idea evaluation" in the product development process
Idea screening
Commercialisation of the product
Marketing
Developing the product
88
These are marketing plans to extend the maturity stage of the product before a brand new one is needed.
Product Positioning
Product Life Cycle
Product Portfolio Analysis
Extension Strategies
89
Specialty goods
are not items a consumer actively shops to purchase
inspire strong brand loyalty
must be unique, high-quality products
are always expensive
