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CONCEPT OF MARKETING Flashcards | StudBud
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CONCEPT OF MARKETING
CONCEPT OF MARKETING
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Questions
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Answers
1
When supply is greater than demand
Surplus
Equilibrium
Overage
Shortage
2
A peso or unit sales goal set for the sales staff to achieve in a specific period
Sales goal
Sales quota
Group goal
Cold call
3
A disadvantage of advertising is
It's expensive
Doesn't specify company
It doesn't persuade the customer
It reaches few people
4
The point where the supply curve and the demand curve meet
Intersection
Equilibrium
Shortage
Surplus
5
Your car comes with an owner's manual
Information Utility
Time Utility
Form Utility
Place Utility
6
The Pedigree Phil. host a Bark in the Park day where fans can bring their dogs to the game.
Financing
Promotion
Selling
Distribution
7
Creating new products and updating existing ones
Marketing Information Management
Product Service Management
Promotion
Selling
8
Economic system where government makes the decisions
Market
Traditional
Command
Mixed
9
Which of the following is most related to the marketing concept?
Increase sales
Satisfy Customers
Gain market share
Make a profit
10
Rafael frequently eats at Starbucks because he likes the coffee and the service he receives
Emotional Motive
Patronage Motive
Rational Motive
Buying Motive
11
How can marketers use technology to conduct marketing research?
Advertise on Twitter
Send survey via email
Post video on YouTube
Create Facebook page
12
The Smart Araneta Coliseum surveys fans to find out what concessionaire they like.
Marketing Information Management
Pricing
Promotion
Product Service Management
13
The Binondo Fair creates a new fried Moon Pie to be sold at concession stands.
Marketing Information Management
Pricing
Product Service Management
Promotion
14
Advertising is used to
Communicate to a large audience
Feature company in the news
Create a favorable image
Allow customers to sample products
15
Suggestion selling involves suggesting complementary items in addition to the main product
True
False
16
Obtaining the money needed to start and operate a business is a marketing function known as
Financing
Pricing
Promotion
Distribution
17
SM Department Store now offers to let customers pay with Apple Pay
Place Utility
Possession Utility
Form Utility
Information Utility
18
When demand exceeds supply
Surplus
Equilibrium
Shortage
Gap
19
Economic system promoting private enterprise where competition drives prices
Command
Traditional
Mixed
Market
20
Segmentation based on where a potential customer lives
Geographics
Behavioral
Psychographics
Demographics
21
The Gwinnett Braves mark down their left over merchandise at the end of the season.
Financing
Promotion
Selling
Pricing
22
Research focused on numerical data including statistics and percentages
Secondary
Qualitative
Primary
Quantitative
23
Richie works at SM’s Sporting Goods and assists shoppers who are looking for new golf clubs.
Selling
Promotion
Distribution
Pricing
24
Nike reviews data to determine trends and market opportunities for running shoes
Market Analysis
Advertising Analysis
Information Analysis
Product Analysis
25
Advertising, personal selling, sales promotion, direct marketing, and public relations
Advertising Mix
Marketing Mix
Media Mix
Promotional Mix
26
KCC displays a wide variety of swimsuits in the weeks leading up to summer break
Place Utility
Form Utility
Time Utility
Possession Utility
27
Research focused on reasons, opinions, and motivations
Qualitative
Primary
Quantitative
Secondary
28
A North Face jacket features a fleece lining - what is the customer benefit
Storage
Affordable
Stylish
Warmth
29
Jen works at Gensan Toyota and helps customers find the right vehicle for their family
Promotion
Product Service Management
Selling
Distribution
30
Total output of a country's goods and services for a particular period of time
Total Product
Product Output
Gross National Product
Gross Domestic Product
31
Magnolia uses storage warehouses to keep ice cream before sending to stores.
Distribution
Selling
Storing
Promotion
32
Segmentation based on personal beliefs and hobbies
Behavioral
Psychographics
Demographics
Geographics
33
Coca-Cola installs vending machines throughout the school
Form Utility
Place Utility
Time Utility
Information Utility
34
Competition leads to
Higher Prices, Higher Quality
Lower Prices, Higher Quality
Lower Prices, Lower Quality
Higher Prices, Lower Quality
35
Segmentation based on age, gender, ethnicity, occupation, or income
Geographics
Psychographics
Behavioral
Demographics
36
As prices for a product increase
Supply Increase & Demand Decreases
Supply Decreases & Demand Increases
Supply Increases & Demand Increases
Supply Decreases & Demand Decreases
37
The people most likely to purchase your product
Focus Group
Audience
Market
Target Market
38
Suzanne is given a sample of gourmet popcorn while shopping at S&R
Adverting
Promotion
Sales Promotion
Personal Selling
39
As prices for a product decrease
Supply Decreases & Demand Increases
Supply Increase & Demand Decreases
Supply Decreases & Demand Decrease
Supply Increases & Demand Increases
40
John buys a new pair of sneakers because his current pair has a hole in the sole
Buying Motive
Rational Motive
Emotional Motive
Patronage Motive
