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MKT-315 Final Exam Review
MKT-315 Final Exam Review
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1
A premium is defined as:
a small value discount.
a promotional budget.
pull strategy.
a gift that encourages a consumer to purchase a good or service.
2
The method for creating a promotional budget by comparing the promotional activities of competitors is known as:
Competitive Parity
Creative Process
Messaging
Advertising
3
Substitutes, complements, number of buyers & sellers, necessity, portion of budget & time perspectives are the:
five determinants of elasticity.
effects on demand at different prices, availability and substitutes.
effects on the number of buyers and sellers.
effects on the budget and time perspectives.
4
Order getters include all of the following EXCEPT:
sales people responsible for finding prospective customers.
are highly complex and technical.
price negotiations.
B2C (retail environments).
5
A landing page is a:
a measurement of online activities.
a combination of SEO and PPC under one umbrella term.
measurement of bounce rates.
targeted web pages created to sell a specific product or service.
6
Elasticity of demand includes all of these factors EXCEPT...
A relationship between adjustments in price & the quantity demanded
Strategically setting a lower-than-market price to promote sales
The more substitutes available, the more elastic the demand
A measure of price sensitivity
7
Decoding is ...
the act of interpreting the message.
a secret spy tactic.
communications that can be personalized and highly targeted.
the process of ensuring that the message fits the media.
8
This refers to the media communications designed to entice consumers to visit the retailer:
pull strategy.
premiums.
order takers.
order getters.
9
Pricing includes all of the following EXCEPT...
Setting proper rates to businesses to make a profit
Discounts and promotions
Consumers demographic information
Making decisions to maximize profits
10
A method marketers use when forming the promotional budget that considers all marketing initiatives is the...
percentage of sales.
premiums.
objective and tasks.
hierarchy of effects.
11
Personal selling includes all of the following EXCEPT:
consultations and in-store assistance.
customer service.
inside sales and sales associates.
opinion surveys, TV commercials, and BOGO.
12
Communications using media, such as television, radio, newspaper, and magazines that reach large markets is...
Advertising
Noise
Direct marketing
Decoding
13
The steps to master IMC include all of the following EXCEPT:
scope of marketing communications and application of information technology
financial and strategic integration within the business.
messaging about how an organization talks about itself.
tactical coordination of marketing communications.
14
An individual who is part of the target audience for the message is the...
encoder.
decoder.
source.
receiver.
15
This concept depicts the consumer passing through various steps in sequential order:
Pull Strategy
Objectives and Tasks
Hierarchy of Effects
Promotional Budget
16
The method for creating a promotional budget that estimates future spending based on past percentage of sales:
hierarchy of effects.
objectives and tasks.
percentage of sales.
promotional budget.
17
Messaging is all of the following EXCEPT...
the way an organization communicates something to a target audience,
related to positioning.
an approved set of key points or messages.
no longer regularly used in marketing.
18
This device conveys a special time-limited offer or discount of a small value...
a coupon.
a contest.
an appeal.
a message.
19
Opinion surveys, prep & reputation management, generating publicity, media interviews and press releases are examples of
a promotional mix.
sales promotions.
public relations.
personal selling.
20
A company or brand that sends a message to consumers is the...
decoder.
encoder.
receiver.
source.
21
Search engine marketing includes all of the following EXCEPT:
a landing page.
a combination of SEO and PPC under one umbrella term.
targeting how search engines display a website to users.
the main areas of digital marketing.
22
Cash returned to the consumer after retail purchases when the consumer submits a rebate form and proof of purchase is a:
rebate.
reach.
sample.
promotion.
23
Strategically setting a lower-than-market price in order to promote the brand and gain market share over a longer period
Friedman's Maxim
An unfair marketing tactic.
Elasticity of Demand
Penetration pricing
24
Businesses that do not take ownership of products but represent their interests are known as ...
Facilitators
Intermediaries
Brokers
Agents
25
A form of promotion in which a sales person engages a prospective customer for the purpose of completing a transaction:
personal selling.
order getting.
advertising.
order taking.
26
A broad term that applies to all forms of marketing that inform & persuade a consumer to purchase the product is:
survey.
rebate.
promotion.
sale.
27
Utility is defined as:
Taking business risks associated with the ownership of goods.
Enabling the movement of merchandise.
The usefulness or enjoyment a consumer can get from a service or good.
a transactional function.
28
Using a variety of psychological methods by taking into consideration theories of consumer behavior is a component of...
measuring profit or loss
pricing strategy
determining value of a product
price point analysis
29
Used to determine the effects on demand at different prices.
Demand Curve
Odd Even Pricing
Price Elasticity
Break-even Analysis
30
Order takers include all of the following except...
pricing negotiations.
sales people that are not actively selling to perspective customers.
straightforward payment processing.
retail environments.
31
Warehousing and transporting goods from one place to another are all a part of ...
operations
manufacturing
Logistical function
form utility
32
Integrated Marketing Communications includes all of the following except...
key points or messages an organization uses to communicate.
scope of marketing communications and application of information technology
financial and strategic integration within the organization.
tactical coordination of marketing communications.
33
Loss Leader is...
Both A and C
A measure of price sensitivity
An item sold at less-than-market price, often below cost, to lure in buyers
items are sold below cost to stimulate sales for more profitable goods.
34
The various advertising channels used are referred to as the...
Chex mix.
specialized media.
media mix.
traditional media.
35
Digital content that typically ranges from 300 to 2,000 words with a call-to-action, headline, images is a...
drip campaign.
call to action.
A/B testing.
blog.
36
Generating a constant flow of customer leads into the company’s sales funnel is considered to be:
prospecting.
the approach process.
consultative selling.
sales force automation.
37
The sales management process involves all of the following EXCEPT:
implementation of the sales program.
The formulation of a strategic sales program.
an approach that focuses on creating value and trust with the prospect.
three interrelated processes.
38
A measure of the effects of an advertising promotion is the:
push population.
reach.
pull population.
rebate.
39
Web analytics include all of the following EXCEPT:
time on site.
website visits.
bounce rates.
email lists.
40
Strategically setting higher-than-market price in order to take advantage of profits in the beginning of the life cycle
a strategy based on the profit equation
cost-based pricing
Skimming pricing
setting a regular price
41
Pricing metrics define the terms of exchange — what exactly will the buyer receive per unit of price paid.
True
Ummmm?
False
Can you please repeat the question?
42
Approach that focuses on creating value & trust with the prospect & exploring their needs before offering a solution is:
personal selling
consultative selling
prospecting
adaptive selling
43
“The art of gaining the top positions in the search engines" is:
search engine optimization (SEO)
measures online activities.
search engine marketing
includes a landing page.
44
The "close" includes:
asking the customer for their business and ends the transaction.
the company's sales funnel.
methods of the sales team.
technology used to aid the sales team.
45
Pricing strategies include all of the following EXCEPT:
Competitive Pricing
Net-income based pricing
Value-Based Pricing
Cost-Based Pricing
46
Odd Even Pricing is...
A tactic used to create demand.
A psychological influence on consumers.
A theory created to drive up prices.
An example of fraudulent marketing.
47
Personal selling depends on...
B2C.
trained personnel, methods and processes for conducting sales, management.
straight forward fulfillment and payment processes.
B2B.
48
An amount that the advertiser is charged each time a search ad is clicked on by a user is known as the...
cost-per-thousand.
click-through-rate.
cost-per-click.
penalty.
49
Direct marketing includes all of the following EXCEPT:
postal mail.
commercials and newspaper ads.
telemarketing.
catalogs.
50
Paraphrased as the "social responsibility of business is to make a profit"...
Friedman's Maxim
Demand Curve
Break-even Analysis
Ethical branding
51
Samples of a product are:
trial sizes that are given away.
a form of rebates.
cash returned to the consumer.
a distribution strategy.
52
Specialized media includes direct mail, transit media, mass awareness, and precise timing.
True
False
53
SEO, email marketing, digital ads, website optimization and social media are examples of:
a promotional mix.
digital marketing.
personal selling.
direct marketing.
54
The elimination of intermediaries in a distribution channel is the definition of ...
logistic function.
a facilitating function.
form utility.
disintermediation.
55
A/B testing includes all of the following EXCEPT:
emails, webpages, and ads.
the amount an advertiser is charged each time a search ad is clicked.
the price of 1000 advertisement impressions on one website.
the process of creating two (or more) versions of digital marketing assets.
56
How an organization talks about itself and the value it provides is called...
branding.
soliciting.
advertising.
messaging.
57
Executing is defined as:
work that transforms the creative ideas into promotional tactics.
comparing special offers and/or discounts.
allocating all available monies.
the ability to present messages in a new way.
58
Field of experience includes all of the following EXCEPT:
consumers' attitudes.
includes receivers attitudes and values,
includes receivers experiences and perceptions,
significantly impacts how consumers receive messages,
59
A metric that measures the number of clicks advertisers receive on their ads per number of impressions is a...
call to action.
cost-per-click.
blog.
click-through-rate.
60
The process of ensuring that the message fits the media and conveys the intended information and motivation is:
decoding.
direct marketing.
advertising.
encoding.
61
Tactical coordination of marketing communications requires marketers to ensure that a single message is being delivered:
through messaging.
through a target audience.
through each of the promotional mix elements being deployed in campaign.
through advertising.
62
Frequency includes all of the following EXCEPT:
the number of ads that are to be communicated.
is a basic measurement of advertising.
the work that goes into transforming the creative ideas.
succesive ads.
63
Contests are...
used to incentivize consumers to enter for a drawing to win merchandise.
the central element of the message.
products, services, or brands that involve appeal.
special time-limited offers or discounts of small value.
64
A marketing mix includes all of the following EXCEPT:
direct and digital marketing.
personal selling.
sales promotions, advertising and public relations.
strategies to plan a marketing budget.
65
Sales Force Automation is:
the methods of the sales executive leading the team.
an approach that focuses on creating value and trust with the prospect.
a custom or tailored approach to selling.
the technology used to aid the sales team in their sales efforts.
66
A promotional budget includes...
pricing negotiations.
funding to ensure that promotional communications are created & distributed
products and services are complex or highly technical.
a gift that encourages a consumer to purchase a good or service.
67
A break-even analysis consists of...
A, B and C
The point where average revenue is equal to average total costs.
Takes into consideration fixed and variable costs, selling prices, volume
Is calculated to see how much revenue is needed to cover costs.
68
The purpose of the media mix is to:
use search engine ads.
amplify the message and raise awareness of the product.
create large budget marketing campaigns.
gather data about consumers.
69
A common style of email, wherein an organization sends out an automated series of emails for a specific number of days:
Digital Marketing
Blog
Drip Campaign
A/B Testing
70
Newspapers, magazines, radio, TV, massive reach, broad groups and 1-way flow are all forms of:
retailing.
traditional media.
digital media.
elasticity.
71
Coupons, samples, contests, rebates, and gifts with purchase are examples of:
sales promotions.
direct marketing.
digital marketing.
public relations.
72
The net income derived from sales after a business pays all its costs and expenses is...
the gain from investment.
the return on investment.
the profit equation.
the profit margin.
73
Appeal is defined as:
The work that goes into transforming the creative ideas.
The central element of the message, including any promotional offer.
The number of ads that are to be communicated in successive ads.
The ability to present messages in fresh and unique ways.
74
Noise is any communication that can prevent a marketing message from being received by the target audience.
True
False
75
A button or phrase that incentivizes users to complete the desired action, such as make a purchase or click on a link is
click-through-rate.
call to action.
drip campaign.
blog.
76
Communications that can be personalized and highly targeted to a list or database to elicit a measurable response is:
direct marketing.
field of experience.
advertising.
noise.
77
Optimal pricing set by marketers in order to maximize revenues and minimize costs is an example of a(n):
social responsibility
a discount or promotion
pricing strategy
branding opportunity
78
A method or structure in which a company sets up two or more sales & marketing channels to reach customer segments is:
a wholesaler system.
a retail system.
a multi-channel distribution system.
an omni-channel distribution system.
79
Small businesses allocating all the money they have available is known as:
"Competitive Parity"
"Executing"
"All You Can Afford"
"Creative Process"
80
A business has three main objectives that affect how it makes pricing decisions to maximize profits. They are:
Growth, employee opinion and advertising.
Revenue, growth and social factors.
Social factors, employee opinion and profits.
Employee opinion, revenue and growth.
81
Wholesalers are responsible for all of the following EXCEPT:
warehousing and transporting products.
enabling the movement of merchandise from manufacturers to retailers.
buying and reselling physical goods.
work within the distribution channel as intermediaries
82
Brokers are responsible for ...
aggregating the sellers’ offerings and presenting them to larger buyers.
the elimination of intermediaries.
developing the supply chain of a product.
requiring that retailers make changes to their products.
83
A custom approach to selling, which takes into account the type of customer, sales situations & feedback received is:
the sales management approach.
adaptive selling.
consultative selling.
the personal selling process.
84
The creative process includes all of the following EXCEPT:
the ability to present messages in fresh and unique ways.
messages that are appropriate to the company, product, service or brand.
messages that involve the appeal and execution.
the central element of the message, including any promotional offer.
85
The personal selling process...
is a custom or tailored approach to selling.
includes methods of the sales executive leading the team.
generates a constant flow of customer leads.
involves a face to face interactions with the customer.
86
Advertising includes all of the following except:
TV commercials.
newspaper and magazine ads.
radio spots and media vehicles.
inside sales.
87
Facility function may include all of the following EXCEPT:
financing with access to capital and credit
grading and categorizing goods
manufacturing and storing goods
marketing for supply chain partners
88
Buying and reselling physical goods and taking business risks associated with ownership of goods:
Sales function
Wholesaler function
Transactional function
Utility function
89
Time, place, possession, and form are all forms of...
Wholesalers
Distribution
Transactional function
Utility
90
Efforts of the distribution chain to provide the products and services and the necessary in-store support is the:
sample strategy.
reach strategy.
pull strategy.
push strategy.
91
The cost-per-thousand rate is defined as:
the price of 1,000 advertisement impressions on one webpage.
digital content that typically range from 300 to 2,000 words.
internet marketing.
an amount that the advertiser is charged each time a search ad is clicked.
92
Internet based media includes all of the following EXCEPT:
social media, retargeting, real time analytics
micro-targeting, all budgets, pattern identification, big data
direct mail, transit media, point of sale
search engine ads, optimization, IOT, advocacy
