What characterizes niche marketing?

Targeting specific market segment

What is guerrilla marketing?

Unconventional, low-cost promotion

What is the primary purpose of form utility?

Changing raw materials into finished products

Which describes owned media?

Company website and social media

Which describes product differentiation?

Unique features from competitors

What is market share?

Company's sales percentage of total industry sales

What is the break-even point?

Where total revenue equals total costs

What is viral marketing?

Rapid message spread through social networks

What is value-based pricing?

Based on customer perceived value

What is relationship marketing?

Building long-term customer relationships

Legal protection for brand elements

Logistics management focuses on:

Transporting and storing products efficiently

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Marketing Fundamentals

86 termsStudBud Administration51 plays

Test your knowledge on basic marketing concepts, product types, segmentation strategies, and utility purposes.

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Questions 86

Answers

1
Which pricing strategy is based on customer perception?
Break-even Pricing
Target Pricing
Competitive Pricing
Cost-Plus Pricing
2
What defines marketing channels?
Distribution paths
Advertising methods
Sales locations
Social media only
3
Companies can extend a product's life cycle by repackaging.
False
True
4
Which is an example of a tangible product?
Nike sneakers
Insurance policy
Spotify subscription
Consulting service
5
A product video that goes viral is considered:
Personal selling
Endorsement
Publicity
Sponsorship
6
What characterizes niche marketing?
Targeting all segments
Mass market approach
Random marketing
Targeting specific market segment
7
Publicity is a form of paid media.
True
False
8
What is guerrilla marketing?
Direct mail campaigns
Traditional advertising
Television commercials
Unconventional, low-cost promotion
9
Logistics includes storage and delivery.
False
True
10
Which describes target pricing?
Based on production costs
Based on desired profit
Based on market demand
Based on competition
11
What is brand equity?
Advertising budget
Brand value and strength
Brand color scheme
Logo design
12
What is the primary purpose of form utility?
Making products available at convenient locations
Delivering products at the right time
Transferring ownership to customers
Changing raw materials into finished products
13
Which describes owned media?
Paid advertisements
Customer reviews
News coverage
Company website and social media
14
Which distribution channel is the shortest?
Producer → Agent → Wholesaler → Retailer → Consumer
Producer → Consumer
Producer → Wholesaler → Retailer → Consumer
Producer → Retailer → Consumer
15
What is odd-even pricing?
Pricing at \$10.00
Pricing at \$9.99
Pricing at \$10.50
Pricing at \$10.25
16
CPM stands for Cost Per Thousand Impressions.
True
False
17
Which factor affects price elasticity?
Product color
Availability of substitutes
Store location only
Company size
18
What is market positioning?
Store location
Product placement in stores
Sales ranking
Consumer perception of brand
19
Which describes product differentiation?
Lower prices only
More advertising
Similar to competitors
Unique features from competitors
20
What is market share?
Annual growth rate
Total industry profits
Company's sales percentage of total industry sales
Number of competitors
21
Marketing includes both goods and services.
True
False
22
What characterizes B2B marketing?
Smaller transaction volumes
Complex buying process
Simple distribution channels
Emotional buying decisions
23
What defines a product line?
All products a company sells
Products sold only online
Closely related products
Seasonal products only
24
What is the break-even point?
Where profits are highest
Where market share is largest
Where total revenue equals total costs
Where sales begin to decline
25
Which defines marketing mix?
Promotion only
4 Ps of marketing
Price only
Product only
26
What characterizes push strategy?
Direct consumer advertising
Focus on channel members
Pull marketing tactics
Focus on final consumers
27
Digital ads often use a pay-per-click model.
True
False
28
What is CPM?
Cost per message
Cost per media
Cost per thousand impressions
Cost per market
29
Which pricing strategy is based on customer perception?
Break-even Pricing
Competitive Pricing
Target Pricing
Cost-Plus Pricing
30
Which pricing strategy sets prices based on what competitors charge?
Dynamic pricing
Competitive pricing
Cost-plus pricing
Target pricing
31
What is viral marketing?
Rapid message spread through social networks
Television commercials
Direct mail campaigns
Traditional advertising
32
Sales revenue equals unit sale price multiplied by total units sold.
False
True
33
What type of segmentation considers lifestyle and values?
Psychographic
Demographic
Geographic
Behavioral
34
Which describes database marketing?
Random customer contact
Mass advertising
General promotion
Customer data analysis
35
Which is a fixed cost?
Raw materials
Sales commissions
Factory rent
Shipping costs
36
Within which product life cycle stage are sales low, and product development and marketing costs high?
Market introduction
Market growth
Market maturity
Sales decline
37
A celebrity telling fans to use a brand is an example of:
Publicity
Endorsement
Viral marketing
Sponsorship
38
A mass market targets:
Only adults
Niche group
Entire market
Only teens
39
What is value-based pricing?
Based on production costs
Based on market share
Based on customer perceived value
Based on competitor prices
40
What defines direct distribution?
Selling directly to consumers
Selling through retailers
Using wholesalers
Using multiple intermediaries
41
What is relationship marketing?
One-time transactions
Building long-term customer relationships
Short-term sales focus
Mass marketing approach
42
Which is an example of sales promotion?
Online ad
Commercial on TV
Billboard
Coupon offering 10% off
43
Which promotion tool provides immediate feedback?
Print media
Billboard advertising
Radio commercials
Personal selling
44
Which describes behavioral segmentation?
Dividing by income
Dividing by purchase patterns
Dividing by location
Dividing by age groups
45
What is a trademark?
Sales technique
Product recipe
Marketing strategy
Legal protection for brand elements
46
Which defines marketing ethics?
Profit maximization
Moral marketing principles
Sales techniques
Legal requirements only
47
Logistics management focuses on:
Transporting and storing products efficiently
Only advertising products
Managing employees
Raising product prices
48
Which describes concentrated marketing?
Focus on single segment
Multiple segments
All market segments
Random targeting
49
Which of the following is NOT a channel intermediary?
Producer
Retailer
Agent
Wholesaler
50
The "Right Principle" focuses only on producing the right product.
True
False
51
What term describes a feature that differentiates a product?
Line
Attribute
Trademark
Utility
52
With which type of media is the source of the message not the brand itself?
Paid media
Owned media
Earned media
Loss media
53
Which describes variable costs?
Change with production volume
Remain constant regardless of production
Annual expenses only
Fixed monthly expenses
54
What is the main goal of promotion?
Replace traditional media
Communicate information and drive sales
Increase competition
Lower production costs
55
What is logistics management primarily concerned with?
Advertising strategies
Customer service
Supply chain and distribution
Product development
56
What is earned media?
Paid advertisements
Sponsored content
Organic social media shares
Company website content
57
Market share refers to the percentage of total industry sales a company captures.
False
True
58
Which market segmentation variable includes income level?
Geographic
Psychographic
Behavioral
Demographic
59
Which defines market saturation?
New market
Maximum market penetration
Growing market
Declining market
60
What is a group of closely related products called?
Product Attribute
Product Line
Product Mix
Product Category
61
What is customer relationship management (CRM)?
Managing customer interactions
Product pricing
One-time sales
Store layout
62
Which describes a product mix?
Seasonal items only
Best-selling products
Single product line
All products company offers
63
Which is a key component of logistics?
Inventory management
Branding
Product advertising
Market segmentation
64
What is the purpose of SWOT analysis?
Strategic planning
Financial planning only
Employee evaluation
Production scheduling
65
Which defines market expansion?
Growth into new markets
Reduced distribution
Fewer products
Market reduction
66
Which factor is internal to pricing decisions?
Competition
Market demand
Economic conditions
Company objectives
67
What is AIDA in marketing communications?
Analysis, Integration, Development, Activation
Awareness, Implementation, Direction, Achievement
Attention, Interest, Desire, Action
Advertising, Information, Distribution, Assessment
68
Walmart setting extremely low prices on milk and eggs in hopes to draw customers to the store to sell other products.
Anchor pricing
Odd-even pricing
Loss leader pricing
Prestige pricing
69
Which pricing strategy starts high and gradually reduces price?
Cost-plus pricing
Target pricing
Penetration pricing
Price skimming
70
Which is an example of sales promotion?
Press release
Television commercial
Billboard advertisement
Buy-one-get-one-free offer
71
What is marketing ROI?
Return on marketing investment
Advertising costs
Revenue only
Total sales
72
What characterizes digital marketing?
Radio advertising
Print media only
Online marketing channels
Billboard advertising
73
What does the Marketing Concept primarily focus on?
Maximizing profits
Customer needs and wants
Sales volume
Production efficiency
74
Target pricing sets price based on production cost.
True
False
75
The break-even point is where total costs equal total revenue.
True
False
76
Market share refers to the percentage of total industry sales a company captures.
True
False
77
Which is an example of a reminder ad?
New product launch email
Coca-Cola billboard
Free trial offer
"Compare us" TV ad
78
What defines market development?
New markets for existing products
New products
Price changes
Product improvement
79
What is marketing myopia?
Focus on product rather than customer needs
Focus on customer needs
Market expansion
Long-term planning
80
Product mix includes all products offered by a company.
False
True
81
Uber or Lyft increasing prices on a Saturday night in Philadelphia due to increased demand is an example of:
A one-price policy
Price discrimination
Dynamic pricing
Negotiated pricing
82
What defines marketing efficiency?
Random allocation
Minimum output
Maximum spending
Optimal resource use
83
Product placement appears naturally in shows/movies.
True
False
84
Which describes publicity?
Personal selling
Paid advertising
Sales promotions
Unpaid media coverage
85
What characterizes the maturity stage of a product life cycle?
High marketing costs
Rapid sales growth
Stable sales and competition
Declining profits only
86
What characterizes competitive advantage?
Unique market position
Standard products
Average performance
Similar offerings

Marketing Fundamentals Flashcards | StudBud