Marketing Final Exam Review

Question 1

26. What are the 2 requirements for pricing objectives?

Accepted Answer

Maximize Sales & Profit

Question 2

6. What is the amount of money requested or exchanged for a product called?

Accepted Answer

Price

Question 3

35. Is BOGO included in a B2C or a B2B pricing?

Accepted Answer

B2C

Question 4

14. Which is NOT one of the segmentation markets?

Accepted Answer

Physographic

Question 5

43. Which Channel of Distribution does not include intermediaries?

Accepted Answer

Direct Channel

Question 6

47. AIDA is included in which of the following:

Accepted Answer

Promotional Plan

Question 7

16. Which is the first era in the changing approach to marketing?

Accepted Answer

Production Era

Question 8

15. What is the detailed description of the typical consumer in a market segment?

Accepted Answer

Customer Profile

Question 9

42. How many stages are included in a Supply Chain?

Accepted Answer

2-5

Question 10

25. What does MSRP stand for?

Accepted Answer

Manufacturers Suggested Retail Price

Question 11

18. What is the approach to customer service the gives employees authority to solve concerns.

Accepted Answer

Employee Empowerment

Question 12

17. True or False: The Marketing Era and the Marketing Concept Era are in the same decades.

Accepted Answer

False

Question 13

44. How many Distribution Services are there?

Accepted Answer

6

Question 14

4. Which is NOT one of the 4 P's of Marketing?

Accepted Answer

Production

Question 15

36. True or False: In a B2B, a trade discount is not a discount.

Accepted Answer

True

Question 16

22. A marketing department finds information through which of the following:

Accepted Answer

All the Above

Question 17

33. Which is the Basic Formula for Markup?

Accepted Answer

C + M = S

Question 18

31. A product starts making a profit after the ....

Accepted Answer

Break Even Point, Sales Equals Costs, Point of Revenue

Question 19

37. A Product is a good or service that could NOT be:

Accepted Answer

Separable

Question 20

21. What is the "information gathered about competitors" called?

Accepted Answer

Marketing Intelligence

Question 21

20. Which is when the process is implemented in a Marketing Game Plan?

Accepted Answer

Marketing Strategies

Question 22

13. Market Segmentation has how many markets included and established in smaller groups?

Accepted Answer

4

Question 23

2. Which is NOT one of the Functions of Business?

Accepted Answer

Promotion

Question 24

39. Which is an example of a Convenience Good?

Accepted Answer

Gasoline

Question 25

24. What is the relative worth of something to a person called?

Accepted Answer

Value

Question 26

5. True or False: Product is anything that can be bought or sold.

Accepted Answer

True

Question 27

19. Which is NOT a step in the consumer decision making process?

Accepted Answer

Make a repurchase

Question 28

23. True or False: A requirement for Price is the amount customers are willing to pay.

Accepted Answer

True

Question 29

8. True or False: Promotion is the communication with customers to avoid their buying behavior.

Accepted Answer

False

Question 30

41. Which is an example of a Specialty Good?

Accepted Answer

Corded Telephone

Question 31

27. True or False: There are 7 Price Factors total.

Accepted Answer

True

Question 32

10. Which of the following helps a business meet its overall goals and objectives?

Accepted Answer

Marketing Strategy

Question 33

1. What identifies, anticipates, and satisfies customer demand while making a profit?

Accepted Answer

Marketing

Question 34

30. True or False: There is a difference in Selling Price for manufacturers and retailers.

Accepted Answer

True

Question 35

9. How many Functions of Marketing are there?

Accepted Answer

7

Question 36

34. Which Price Tactic belongs to a B2C?

Accepted Answer

Psychological Pricing

Question 37

40. Which is an example of a Shopping Good?

Accepted Answer

A Stove

Question 38

46. True or False: the Promotional Mix is the same as the Marketing Mix.

Accepted Answer

False

Question 39

11. Which of the following is generally written annually?

Accepted Answer

Marketing Plan

Question 40

38. How many areas are there in the Product Mix?

Accepted Answer

5

Question 41

45. What are the 2 types of promotion?

Accepted Answer

Product and Institutional

Question 42

28. When Supply is HIGH, what is the demand and price?

Accepted Answer

Low Demand / Low Price

Question 43

7. What includes the activities involved in getting goods and services to customers?

Accepted Answer

Place

Question 44

3. How many elements are in the Marketing Concept?

Accepted Answer

3

Question 45

12. What is another name for Target Market?

Accepted Answer

Market Identification

Question 46

32. What is the amount added to the cost to determine the selling price?

Accepted Answer

Markup

Question 47

29. Which stage of the Product Life Cycle comes BEFORE Maturity?

Accepted Answer

Growth

Marketing Final Exam Review

Questions 47

Marketing Final Exam Review

Questions 47