Which of these statements about publicity is NOT TRUE?

Marketers control how the information is presented.

What is the main reason why generic products can be sold at a reduced price?

D. Less money is spent to promote them.

Which of these market segments include both psychographic and behavioral factors?

Amateur photographers who prefer 1st rate equipment to take quality images

What is economic utility?

Adding value to a product by making it more useful

What is the difference between a customer and a consumer?

A customer buys products, while a consumer uses products.

What does the term physical distribution refer to?

Business functions that move a product through the channel to customers

What is a sales promotion?

A short-term incentive used to get people to buy a product

What is distribution?

How product gets to people, in right amounts, at the right time and place

What is the main factor to consider when classifying products?

Why the product is being purchased

Which of these statements defines the philosophy of marketing?

Focus all of efforts on satisfying the wants and needs of the customer

Anything offered to a market that might satisfy a want or need

Which of these statements describes Time utility?

Offer a product just as the need for it arises

Why do you think a business would set the price of their product above the competition?

A higher price often indicates higher quality to many customers.

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Marketing EOPA 1

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Questions 30

Answers

1
What is the term for unprocessed natural resources that are refined into end products?
Raw materials
Process materials
Supplies
Component Parts
2
Agents, wholesalers, and retailers are examples of _______.
Product lines
Channels of Distribution
Consumers
Sales Promotions
3
Nutrition data is included on the packaging of a food product. What type of economic utility is shown in this example?
Time
Place
Possession
Information
4
Which of these statements about publicity is NOT TRUE?
The information tends to be viewed as more credible.
Publicity is one part of public relations.
Marketers control how the information is presented.
Publicity is free since the information appears in the news media.
5
What is the main reason why generic products can be sold at a reduced price?
C. They are available in more store locations.
B. They have less competition.
D. Less money is spent to promote them.
A. They are lower in quality.
6
A document that lays out the details for how to focus marketing efforts on meeting the customers' needs and wants?
Breakeven analysis
Product Life Cycle
Marketing Plan
Marketing Concepts
7
Which of these products are goods?
New tires
All of the Above
Car repair
Taxi ride
8
Which of these market segments include both psychographic and behavioral factors?
Amateur photographers who prefer 1st rate equipment to take quality images
Single men, 40 and under, who live in the Midwestern U.S.
Large businesses who have internal marketing departments
People btw 16 and 30 who work at least part-time and are paid hourly
9
What is economic utility?
Saving money on a product through a discount program
A type of marketing aimed toward financial institutions
Sending financial information via phone or cable
Adding value to a product by making it more useful
10
What is the difference between a customer and a consumer?
Customer buys specialty products, while a consumer buys convenience product
Consumer buys a product either to resell it or make into another product.
A customer must be a business, while a consumer may be a private individual
A customer buys products, while a consumer uses products.
11
What does the term physical distribution refer to?
Business functions that move a product through the channel to customers
The outlet, or place, where the customer can purchase the product
The path that a product follows from the producer to the customer
Selling a product directly to a customer, without using any intermediaries
12
For which pricing method is it crucial to perform a breakeven analysis?
All of the Above
Cost oriented pricing
Demand Oriented pricing
Competition oriented pricing
13
What is a sales promotion?
A short-term incentive used to get people to buy a product
Placing information about a product in the news media
A paid advertisement to influence people about a product
An ongoing effort to foster positive relationships with the public
14
The consumer (B2C) market includes people who buy products to:
Make other products
Resell them
Use or benefit from them
Use them to make a profit
15
Any form of communication that a business uses to inform, persuade, or remind potential customers about their products?
Packaging
Distribution
Promotion
Marketing Mix
16
Which promotional method involves direct communication between the sales person and the customer?
Public relations
Personal selling
Advertising
Sales Promotions
17
The "4 Ps" (product, pricing, place, promotion) make up which of these items?
Integrated Marketing Communication
Customer Relationship Management
Marketing Mix
Product Mix
18
At what stage in the product life cycle would it be most likely to make a decision about deleting the product?
Growth
Maturity
Decline
Introduction
19
What is distribution?
How product gets to people, in right amounts, at the right time and place
A company’s portion of total industry sales for certain type of product
Adding value to a product by making it more useful
Communication directed toward customers to educate them about product
20
What is the main factor to consider when classifying products?
Why the product is being purchased
The facility where the product is made
How long it takes to make the product
The price of the product
21
Which of these statements defines the philosophy of marketing?
Use high-pressure sales tactics to increase profits for the business
Focus on selling through lots of advertising and large sales forces
Focus all of efforts on satisfying the wants and needs of the customer
Produce a large amount of goods as quickly as possible to increase supply
22
In good marketing strategy, what's at the center of all the marketing mix efforts?
The product
The customer
The competitors
The business
23
Which of these terms refers to the group of all the product lines offered for sale by a company?
Marketing Mix
Product Mix
Target Market
Brand
24
What is a product?
Something for sale that cannot be touched
Something for sale that you can touch
The container or wrapping for an item
Anything offered to a market that might satisfy a want or need
25
At what stage of the product life cycle do sales start to grow at a slower pace, or even level off?
Maturity
Growth
Decline
Introduction
26
Which of these items is typical of business buying behavior?
Commonly buys in larger amounts
All of the Above
More likely to negotiate on price
Has more frequent contact with seller
27
What is the term for the path that the product follows from the producer to the customer?
Channel of Distribution
Market Share
Physical Distribution
Public Relations
28
Which of these statements describes Time utility?
Change a raw material or assemble parts to make a product
Provide the customer with more knowledge about the product
Offer a product just as the need for it arises
Put a product where it is convenient for a customer to purchase it
29
What is the term that refers to a product's identity, as represented by its name and/or mark?
Market segment
Advertising
Brand
Generic
30
Why do you think a business would set the price of their product above the competition?
It's the only way to make a profit with competition-oriented pricing.
It's the only way to increase market share, especially for new products.
Higher prices usually lead to creating greater demand for a product.
A higher price often indicates higher quality to many customers.

Marketing EOPA 1 Flashcards | StudBud