Marketing Principles Review

Question 1

What type of data do business’s own sales figures and customer records provide?

Accepted Answer

internal secondary data

Question 2

Stage of product life-cycle where companies spend alot of time, money fighting off competition?

Accepted Answer

maturity

Question 3

Including a link on a website explaining how to return used ink cartridges is which utility

Accepted Answer

information

Question 4

When supply of a product exceeds demand for it, businesses usually raise the product’s price.

Accepted Answer

False

Question 5

In a command economy, who decides how products are produced?

Accepted Answer

government

Question 6

adding aloe to hand soap is an example of which economic utility

Accepted Answer

form

Question 7

In economic terms, land, labor, and capital refer to

Accepted Answer

factors of production

Question 8

What does a brand name or brand mark become when it is legally registered?

Accepted Answer

trademark

Question 9

In selling, demonstrating vacuuming and dusting might be examples of the approach to the sale.

Accepted Answer

False

Question 10

Which of the following utilities involves making products?

Accepted Answer

form utility

Question 11

Jared asked his mom to buy him Coco Puffs after watching a TV commercial. He represents which

Accepted Answer

a consumer group

Question 12

an estimate of a product’s future sales

Accepted Answer

sales forecasting

Question 13

a product’s path from manufacturer or producer to final user

Accepted Answer

channel of distribution

Question 14

Sales and rebates are examples of what strategy?

Accepted Answer

price competition

Question 15

legal name that a company uses when doing business

Accepted Answer

trade name

Question 16

What does a miniature golf business provide to its customers?

Accepted Answer

a service

Question 17

a word, letter, or number group that represents a product

Accepted Answer

brand name

Question 18

The Internet is a good source of secondary data.

Accepted Answer

True

Question 19

what is the term for the struggle between companies for customers?

Accepted Answer

competition

Question 20

name or symbol that identifies a company’s products apart from competitors

Accepted Answer

brand

Question 21

Some companies build good will by advocating for community issues.

Accepted Answer

True

Question 22

when supply exceeds demands

Accepted Answer

surplus

Question 23

Which is not part of the marketing mix?

Accepted Answer

production

Question 24

A retail store employee puts a pair of shoes on a customer and asks how they feel

Accepted Answer

selling

Question 25

What is the primary focus of marketing research?

Accepted Answer

obtaining info on customers’ preferences, opinions, habits

Question 26

consumers’ willingness and ability to buy a product

Accepted Answer

demand

Question 27

A market includes people who share similar need. wants, and can purchase a company’s products.

Accepted Answer

True

Question 28

A U.S. oil company used a tiger to sell its products and itself. What was this tiger?

Accepted Answer

trade character

Question 29

deciding how goods get into customers hands

Accepted Answer

channel management

Question 30

What is the purpose of the activities in a traditional economy?

Accepted Answer

to provide food, shelter and clothing

Question 31

A television commercial stresses the benefits of buying a new protein bar.

Accepted Answer

promotion

Question 32

Mystery shopping uses what type of method for collecting primary data.

Accepted Answer

observation

Question 33

Which economy would best describe the US economy?

Accepted Answer

mixed economy

Question 34

Time utility involves having a product available at a certain time of year or day.

Accepted Answer

True

Marketing Principles Review

Questions 34

Marketing Principles Review

Questions 34