LEE CO. Marketing Management EOP

Question 1

Demand is the quantity of goods and services that:

Accepted Answer

Consumers are willing and able to purchase

Question 2

Once a choice is made, the alternative choices given up are considered given up are considered:

Accepted Answer

Trade offs

Question 3

Which Marketing Function informs, reminds, or persuade customers about a product or the company

Accepted Answer

Promotion

Question 4

Are you ready for the Marketing Management End of Pathway?

Accepted Answer

No, Yes

Question 5

Supply is the quantity of goods and services that:

Accepted Answer

Producers are willing and able to manufacture

Question 6

The price at which at which both buyers and sellers agree is known as

Accepted Answer

Market Clearing Price or equilibrium

Question 7

Which Marketing Function collects information in order to make decisions about a product

Accepted Answer

Marketing Information systems/ Marketing Research

Question 8

Which Marketing Function personally communicates with the customer to help them purchase a good

Accepted Answer

Selling

Question 9

Which of the following is most related to the marketing concept?

Accepted Answer

Satisfy Customers

Question 10

Changing old wood into a tree house for little kids is an example of ____ utility.

Accepted Answer

Form utility

Question 11

What type of promotion is used by Nike to convince potential customers to buy their shoes?

Accepted Answer

Product Promotion

Question 12

When a store stocks more turkeys during the later seasons is an example of what utility?

Accepted Answer

Time utility

Question 13

A teen shop decides to rent store space next to a smoothie shop. What utility did they utilize?

Accepted Answer

Place

Question 14

Which Marketing Function decides the transportation of goods from producers to consumers

Accepted Answer

Distribution

Question 15

As the output of each worker increases,

Accepted Answer

Productivity increases and profits increase

Question 16

As prices for a product decrease,

Accepted Answer

Supply decreases & demand increases

Question 17

When a company has a chance of losing money, this is an example of which of the following:

Accepted Answer

Risk

Question 18

Which intermediary brings buyers and sellers together but doesn't take ownership of the product

Accepted Answer

Agent

Question 19

What type of promotion is used by publix when the have god customer services?

Accepted Answer

Institutional Promotion

Question 20

As prices for a product increase,

Accepted Answer

Supply increases & demand decreases

Question 21

This type of competitipn focuses on the quality or brand loyalty of a product.

Accepted Answer

Nonprice Competition

Question 22

When employees give advice to customers about a product this is what type of utility?

Accepted Answer

Information utility

Question 23

Which Marketing Function plans, improves, and/or adds to a firm's product line.

Accepted Answer

Product/Service Management

Question 24

Why do company measure productivity?

Accepted Answer

Understand the capacity of a company at a given time

Question 25

Which type of promotion would companies choose in order to reach a mass audience to inform them

Accepted Answer

Advertising

Question 26

Which type of promotion would companies choose in order to raise the image of the company/goods

Accepted Answer

Publicity

Question 27

Buying insurance for a business in case of theft or fire which of following ways to manage risk

Accepted Answer

Shift

Question 28

Competition _______ Prices of goods

Accepted Answer

Lowers

Question 29

People in this category are looking for the lowest prices because they want the best value

Accepted Answer

Buyer's Market

Question 30

William decides to purchase a baseball bat for $50, what is the opportunity costs?

Accepted Answer

Another item William could have purchased for $50

Question 31

Competition usually leads to which of the following?

Accepted Answer

Lower Prices, Higher Quality products

Question 32

The struggle for customers between two more companies is considered___________.

Accepted Answer

Competitoin

Question 33

Putting out "Wet Floor" signs is which of following ways to manage risk

Accepted Answer

Reduce

Question 34

Which intermediary obtains good to sell to industrial users?

Accepted Answer

Wholesaler

Question 35

Which intermediary obtains goods in order to sell them directly to customers?

Accepted Answer

Retailer

Question 36

Which of the following is a decision to hire more employees to make more products?

Accepted Answer

How to Produce?

Question 37

Which type of promotion is used by companies to stimulate sales by offering coupons?

Accepted Answer

Sales Promotion

Question 38

Which of the following is considered a direct competitor of CVS?

Accepted Answer

Walgreen's

Question 39

Training employees on safety procedures is an example of which of following ways to manage risk

Accepted Answer

Avoid

Question 40

People in this category are looking for highest prices because their motive is to make a profit

Accepted Answer

Seller's Market

Question 41

What is the measure of the output of a worker, machine, or an entire national economy

Accepted Answer

Productivity

Question 42

Which of the following is a decision to sell products to middle class teenagers?

Accepted Answer

For whom to produce?

Question 43

What is a free enterprise economy?

Accepted Answer

Economy in which the consumers and producers make decisions

Question 44

Which of the following is considered an indirect competitor of Outback Steakhouse?

Accepted Answer

Red Lobster

Question 45

Which Marketing Function decides the amount to charge for a product/service based on demand

Accepted Answer

Pricing

Question 46

Which Marketing Function decides how to find the money to invest in the business

Accepted Answer

Finance

Question 47

Which of the following is a decision to the purchase materials and make it into an item to sell

Accepted Answer

What to produce?

Question 48

which economic utility increased when Jerry's 24-Hour Diner began accepting credit cards

Accepted Answer

Possession Utility

Question 49

This type of competition focuses on the sale price of the product

Accepted Answer

Price Competition

Question 50

As a small business owner, your productivity goal would be for productivity to:

Accepted Answer

Increase

LEE CO. Marketing Management EOP

Questions 50

LEE CO. Marketing Management EOP

Questions 50