Marketing Post Assessment

Question 1

A combination of 4 strategies used to market a product.

Accepted Answer

marketing mix

Question 2

Home Depot workers are experts who give customers advice about do-it-yourself projects.Utility?

Accepted Answer

information

Question 3

Social responsibility & ethics are important topics due to corporate scandals &unethical behav.

Accepted Answer

True

Question 4

Stores offer customers installment or layaway plans in order to increase the ___ utility.

Accepted Answer

possession

Question 5

In business, ethics are guidelines for good behavior.

Accepted Answer

True

Question 6

When supply exceeds demand there is a shortage.

Accepted Answer

False

Question 7

Which of the following purchases would most likely be made with disposable income?

Accepted Answer

magazine subscriptions

Question 8

Although Ben and Jerry's gives part of its income to charity,the company is a for-profit Bus.

Accepted Answer

True

Question 9

Selling camping gear through catalogs mailed to outdoors people is an example of place utility.

Accepted Answer

True

Question 10

The FTC assists businesses in establishing trade relations with other countries.

Accepted Answer

False

Question 11

Which government agency limited the use of chlorine as a pesticide to trained professionals?

Accepted Answer

Environmental Protection Agency

Question 12

A country's infrastructure includes its sewers, highways, and phone lines.

Accepted Answer

True

Question 13

Understanding ethnic backgrounds and household income is part of market segmentation.

Accepted Answer

True

Question 14

Without competition nothing can stop a company from acting without regard for the customer.

Accepted Answer

True

Question 15

A BBQ Sauce Co. markets a new sauce with spices found in Asian food. What type of segmentation?

Accepted Answer

demographics

Question 16

People who share similar needs and wants and who can purchase your products are called a market

Accepted Answer

True

Question 17

According to the text, the place is the means of getting the product into the consumer's hands.

Accepted Answer

True

Question 18

The four basic marketing decisions are price, place, possession, and promotion.

Accepted Answer

False

Question 19

Which U.S. ethnic population is declining, relative to other ethnic populations?

Accepted Answer

Caucasian

Question 20

Marketing concepts list information like race, age, income level & geographic location.

Accepted Answer

False

Question 21

Which of the following is not directly related to marketing?

Accepted Answer

form utility

Question 22

The owner of a miniature golf business provides her customers with?

Accepted Answer

a service

Question 23

After watching cartoons, Bob asked his mom to buy him Honey Nut Cheerios. Bobby is considered..

Accepted Answer

a consumer

Question 24

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

Accepted Answer

businesses

Question 25

Setting a min. wage that Bus. must pay their workers is an Ex. of Govt's role as a regulator.

Accepted Answer

True

Question 26

In command economys,individual consumers decide the items that best satisfy their wants & needs

Accepted Answer

False

Question 27

Providing information for their products is an example of non-price competition.

Accepted Answer

True

Question 28

As a factor of production, the term labor refers to both skilled and unskilled workers.

Accepted Answer

True

Question 29

In its role as regulator, the Gov. makes laws that protect consumers, workers, and businesses.

Accepted Answer

True

Question 30

FTC monitors our economy and controls our monetary supply.

Accepted Answer

False

Question 31

Jen filled out a form rating the hotel's service, food, & accommodations. What marketing tool?

Accepted Answer

market research

Question 32

In communist economy, government decides the type of education children will receive.

Accepted Answer

True

Question 33

Sales and rebates are examples of what market strategy?

Accepted Answer

price competition

Question 34

Marketing: is the process of planning, pricing, promoting, ___, & ___ ideas, goods & services

Accepted Answer

selling, distributing

Question 35

Business risk is the potential for loss or failure.

Accepted Answer

True

Question 36

Germany has a socialist economy; thus the Germans pay much less in taxes then Americans pay.

Accepted Answer

False

Question 37

Geographic,demographic & psychographic data can be used to create a customer profile.

Accepted Answer

True

Question 38

Informing persuading, or reminding potential customers about a product or service is called

Accepted Answer

promotion

Question 39

"Buy one get one free." This is an example of distribution.

Accepted Answer

False

Question 40

The price of a gallon of gas continues to rise due to oil ___ in the mid-East.

Accepted Answer

shortage

Question 41

Supply & demand: businesses lower product prices when supply of the product exceeds its demand.

Accepted Answer

True

Question 42

What is the group that decides whether or not a business will survive?

Accepted Answer

the consumers

Question 43

How would you desc. a company that voluntarily commits some of its income to helping its city?

Accepted Answer

socially responsible

Question 44

Because they prevent competition, monopolies are prohibited in a free enterprise system.

Accepted Answer

True

Question 45

Birthday Bears Inc. received an order for 1,000units.This is an example of an industrial market

Accepted Answer

True

Question 46

In 1970, what agency was established to protect human health & monitor air and water pollution?

Accepted Answer

Environmental Protection Agency

Question 47

Which economy would best describe that of the U.S.?

Accepted Answer

mixed economy

Question 48

When demand and production for a product increases, prices usually decrease.

Accepted Answer

True

Question 49

Which economic utility increased when fast food restaurants began accepting credit cards?

Accepted Answer

possession utility

Question 50

What is the purpose of the Federal Reserve Board?

Accepted Answer

control the monetary supply

Question 51

The US & Japan are classified as socialist economies and have a democratic form of government.

Accepted Answer

False

Question 52

A co. wants to send info to music teachers, dancers, etc. What type of data would be helpful?

Accepted Answer

psychographic

Question 53

In a market economy, who decides whether a business will survive or fail?

Accepted Answer

the consumers

Question 54

A period of renewed economic growth is

Accepted Answer

recovery

Question 55

Market segmentation is separating large groups into smaller groups based on characteristics.

Accepted Answer

True

Question 56

SEC regulates the sale of stocks and bonds.

Accepted Answer

True

Question 57

In the United States, the most rapidly increasing ethnic population is African-Americans.

Accepted Answer

False

Question 58

A company sells its coffee mugs in local espresso shops. What type of marketing decision is it?

Accepted Answer

place

Question 59

Info about the values and attitudes that shape consumers' lifestyles are called demographics.

Accepted Answer

False

Question 60

What is the organized way a nation provides for the needs and wants of its people?

Accepted Answer

economy

Question 61

Transforming glass bottles into beautiful new sculptures is an example of information utility.

Accepted Answer

False

Question 62

The law of supply is

Accepted Answer

price and quantity move in the same direction

Question 63

In Nov., a store stocks its shelves with canned pumpkin in order to increase the ___ utility.

Accepted Answer

time

Question 64

For a Catering Co., ovens, the food & money used to start the bus. are examples of capital

Accepted Answer

True

Marketing Post Assessment

Questions 75

Marketing Post Assessment

Questions 75