Midterm review

Question 1

A group of customers and businesses that a company has decided to aim it's marketing efforts at

Accepted Answer

Target Market

Question 2

Units: Apple 300, Samsung 350, Huawei 250, Other 150. Total 1150. What is Apple's Market Share?

Accepted Answer

26%

Question 3

Communicating directly with potential customers to determine and satisfy their needs.

Accepted Answer

Selling

Question 4

What is most likely the supply chain for an online businesses?

Accepted Answer

Retailer, Wholesaler, Supplier, Manufacturer

Question 5

Companies in this part of the supply chain are B2B and usually buy in bulk and sell at a markup

Accepted Answer

Wholesaler

Question 6

Chicken shack lowers it's prices to win customers from KFC. This is an example of

Accepted Answer

price competition

Question 7

Pinho's is hoping to partner with bakeries who will display their cups to customers - this is a

Accepted Answer

push strategy

Question 8

Popmints loses it's biggest supplier due to a free sample campaign on it's website. This is ...

Accepted Answer

Channel Conflict

Question 9

A customer gets a letter in the mail inviting them to come in to a new clothing store. This is?

Accepted Answer

Direct Marketing

Question 10

This strategy motivates customers to seek out a specific product. Best with strong brands

Accepted Answer

pull strategy

Question 11

Element of the promotional mix in which a company tries to build a positive public image.

Accepted Answer

Public Relations

Question 12

Which business department would most likely manage the hiring/firing process for employees?

Accepted Answer

Human Resources Dept.

Question 13

In this stage the product is launched, sales grow slowly as people aren't aware of the product.

Accepted Answer

Introduction

Question 14

One way form of communication that often utilizes radio, television, and social media?

Accepted Answer

Advertising

Question 15

Method/s of stimulating a customer purchase to generate immediate results.

Accepted Answer

Sales Promotion

Question 16

Which term has to do with making choices for the business based on customer needs and wants?

Accepted Answer

Marketing Concept

Question 17

The main downside of publicity is that...

Accepted Answer

the company does not control the message

Question 18

What are the 4 Ps of the Marketing Mix?

Accepted Answer

Product, Price, Place, Promotion

Question 19

Which is an example of a B2B business model/transaction?

Accepted Answer

Ishmael buys a bunch of iPads for his company

Question 20

Blackberry sales have fallen, the product has lost appeal, and advertising is reduced. This is

Accepted Answer

decline stage

Question 21

Which activity did most students say Mr. Norwood should do more of?

Accepted Answer

Kahoot, Shark Tank

Question 22

Amazen buys a new Iphone for her friend Rose. In this case Amazen is a ????

Accepted Answer

Customer

Question 23

This function provides funds for business activities, making purchases or investing

Accepted Answer

Financing

Question 24

Jerry sells an Iphone for $500 and it originally cost him $200. How much revenue did he make?

Accepted Answer

$500

Question 25

In this stage profits start to grow, persuasive advertising is used, and profits start coming.

Accepted Answer

Growth

Question 26

Laura goes shopping! During the day she encounters many businesses: Which was a service?

Accepted Answer

She gets her nails done at the salon

Question 27

A person or company that makes goods for sale

Accepted Answer

Manufacturer

Question 28

The chart in this question represents what key concept?

Accepted Answer

Market Share

Question 29

This describes a system for supporting marketing decision by providing cust data and research.

Accepted Answer

MIM (Marketing Information Management)

Question 30

Apple Iphone faces stiff competition and spends a lot on advertising - they are in what stage?

Accepted Answer

Maturity

Midterm review

Questions 30

Midterm review

Questions 30