What are the 4 P's of marketing?

Product, Price, Place, Promotion

Which of the following are major classes of B2C purchases?

Convenience, Shopping, Specialty

What is an example of a trend in digital marketing?

Snapchat's Visual Search feature

Which of the following are criteria for forming a market segment? (There are multiple answers)

Be accessible to marketing efforts, Be substantial and have enough potential customers, Respond to marketing efforts in a distinguishable way, Be identifiable and measurable

What is the aim of promotion?

Increase awareness, interest, sales or brand loyalty

What are the four target segment strategies?

Mass, differentiated, niche, and direct marketing

Why is co-optation a good method for preventing conflict within a channel?

It shares the expert opinions of leaders inside the channel.

Costs and expenses, Supply & demand, Competition, Consumer perceptions

What does a SWOT analysis include?

An analysis of the internal and external environments, Strengths, weaknesses, opportunities, and threats

What are the three major stages of consumption?

Pre-purchase, Service encounter, Post-purchase stage

What is the STP Process?

Links a market and how a company competes in that market

What is shoppable content?

A direct opportunity to buy a product in a few clicks

Small section of market with little competition

What does the STP in STP Process stand for?

Segmentation, Targeting, Positioning

Mass movement towards a style or value

Which of the following are the purposes of branding?

To build product recognition and customer loyalty, To ensure quality and consistency, To capitalize on brand exposure

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MHMS Marketing Dual Credit Exam Review

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Questions 161

Answers

1
Which of the following is NOT one of the five adopter categories in diffusion of innovation
Decision
Generation
Persuasion
Implementation
2
Which C is an analysis of the product line, culture, goals, objectives, image, and experience?
Culture
Collaborators
Company
Climate
3
What are the 4 P's of marketing?
Product, Position, People, Promotion
Product, Price, Place, Promotion
Print, Paper, Pen, People
Person, Product, Place, Price
4
They are interested in trying something new, but want someone else to try it before them
The early adopters
The late majority
The early majority
The innovators
5
What includes all of the products an organization sells?
Product depth
Product mix
Product line
Product width
6
True or False: Costs are very high during the "Maturity" stage of the product life cycle?
True
False
7
Which of the following are major classes of B2C purchases?
Convenience, Shopping, Specialty
Shopping, Bundle, Specialty
Sale, Shopping, Investment
Convenience, Sale, Investment
8
What is diving a market into smaller groups of potential buyers with common characteristics?
Market Segmentation
Advertising
Marketing Information Management
Marketing
9
Orville Redenbacher creates a Target specific brand of popcorn. This is
Brand Extension
Mixed Branding
Brand Licensing
Co-Branding
10
A Branding Strategy where one or more brands are combined into a single product
Mixed Branding
Co-Branding
Brand Licensing
Brand Extension
11
What happens when a firm charges different prices to similar customers in similar situations?
Resale price management
Price discrimination
Price fixing
Unit pricing
12
What is an example of a trend in digital marketing?
Creating ads that target certain consumers
Snapchat's Visual Search feature
Popups
Purchasing goods over the internet
13
What is a similarity between a corporate brand and a product brand?
They both reflect a company
They both reflect a product
They both reflect quality
They both identify a business
14
Which of the following are criteria for forming a market segment? (There are multiple answers)
Be accessible to marketing efforts
Be substantial and have enough potential customers
Respond to marketing efforts in a distinguishable way
Be identifiable and measurable
15
What is the aim of promotion?
Increase awareness, interest, sales or brand loyalty
To become more popular than the Kardashians
Increase unawareness, disinterest, returns or brand loyalty
Generate more hashtags about your product on social media
16
What are the four target segment strategies?
Mass, direct, service, and social marketing
Mass, differentiated, niche, and direct marketing
Mass, service, niche, and promotional marketing
Differentiated, direct, media, and social marketing
17
Why is co-optation a good method for preventing conflict within a channel?
It prevents the power of one partner to overwhelm a channel.
It allows the channel members to think creatively w/ ideas.
It shares the expert opinions of leaders inside the channel.
It allows for faster communication between channel members.
18
Which function involves providing funds for business activities, purchasing, or investing?
Financing
Selling
Pricing
Marketing Information Management
19
A company lets a trademarked brand, brand mark, or character be used by another for a royalty
Brand Licensing
Brand Extension
Co-Branding
Mixed Brand
20
When a marketer markets a single product to a single segment?
Differentiated marketing
Niche marketing
Mass marketing
Direct marketing
21
What is a group of closely- related products offered by an organization?
Product line
Product item
Product mix
Product width/depth
22
Involves the use of all suitable outlets to sell a product.
Exclusive
Moderate
Selective
Intensive
23
What affects price?
Costs and expenses
Supply & demand
Competition
Consumer perceptions
24
This type of channel conflict includes different market channels
Vertical channel conflict
Single channel conflict
Multichannel conflict
Horizontal channel conflict
25
What illustrates the customer perception of a business’ offerings versus competitors'?
Competition venn diagram
Life cycle diagram
Political affiliation matrix
Positioning map/matrix
26
What strategy involves pricing above, below, or in line with competition?
Competition-oriented pricing
Relevancy pricing
Demand-oriented pricing
Cost-oriented pricing
27
When each party presents to an unbiased party who makes a final decision, they're using ______.
None of the above
Mediation
Arbitration
Diplomacy
28
Act as mediaries by bringing buyers and sellers together, but do not own the goods themselves.
Brokers
Intermediaries
Retailers
Agents
29
What does a SWOT analysis include?
The political, economic, social, and technological climate
An analysis of the internal and external environments
Strengths, weaknesses, opportunities, and threats
A review of Mrs. Lewis' Crash Course PowerPoint
30
Known as backbone of global trade it is a network of transportation warehousing and inventory
Trade Flow
Barter Channel
Supply Chain Logistics
Distribution Channel
31
What are the three major stages of consumption?
Pre-Purchase, Purchase, and Review stage
Pre-purchase, Service encounter, Post-purchase stage
Promotional, Purchasing, and Returning stage
Advertising, Service encounter, and Follow up stage
32
What is the STP Process?
Assigns a salesperson to each home in a neighborhood
Connects promotional materials to the best generation
Develops a product idea and target market
Links a market and how a company competes in that market
33
What is shoppable content?
Something that is available to be purchased at all times
A direct opportunity to buy a product in a few clicks
Anything that can be bought on the internet
Products that are rising in popularity
34
What market segment includes lifestyle, activity, interest, opinion, concerns, and personality?
Geographics
Behavioral
Psychographics
Demographics
35
Donald Trump, puts his name on steaks, casinos, and colleges, heavily:
Brand Extensio
Co-Branding
Mixed Branding
Brand Licensing
36
In the decision point step of the product life cycle, what does modernizing the product do?
Discount the product
Sell product
Drop the product
Redesign or repackage product
37
What is a niche?
Product popular for a short period of time
Mass movement towards a style or value
Higher demand during certain times of the year
Small section of market with little competition
38
What emphasizes the real or perceived differences between competing products or services?
Product positioning
Product differentiation
Marketing
Promotion
39
What does the STP in STP Process stand for?
Selling, Targeting, Positioning,
Stormi Jenner, Tiger Woods, Penelope Cruz
Segmentation, Titrating, Pricing
Segmentation, Targeting, Positioning
40
Which method of managing conflicts consists of each party sending someone to resolve the issue?
Diplomacy
Mediation
Arbitration
Congregation
41
What is a trend?
Mass movement towards a style or value
Product popular for a short period of time
Small section of market with little completion
Higher demand during certain times of the year
42
What is the point at which enough products are sold to where they equal their total cost?
demand elasticity point
break-even point
raw profit point
cost equality point
43
A website that is optimized for search engines, but focuses on relevancy/organic ranking uses:
White hat SEO
Nonorganic SEO
Blue hat SEO
Organic SEO
44
What is a company or brand’s value based on customer perception and experiences with the brand?
Brand strategy
Re-branding
Brand Equity
Co-branding
45
What is a change to a brand's name, logo or image of a product or company?
Brand Licensing
Rebranding
Mixed Brands
Co-branding
46
Google is ran by what new trend in the global and digital marketplace?
Artificial Intelligence
Shoppable Social
White Hat SEO
Blockchain
47
Which of the following are the purposes of branding?
To build product recognition and customer loyalty
To ensure quality and consistency
To become famous on social media
To capitalize on brand exposure
48
Which function refers to communication used to inform, persuade, and remind a target market?
Selling
Promotion
Financing
Pricing
49
If the consumer accepts the idea that a product is innovative, they are LESS likely to engage.
True
False
50
This type of channel conflict includes different level in the same channel
Multichannel conflict
Vertical conflict
Single Channel conflict
Horizontal conflict
51
What is the first method of New Product Introduction?
Skimming Pricing
Absolute Pricing
Penetration Pricing
Search Pricing
52
In what step do you ask what problem you have/solution you offer?
Problem recognition
Evaluation of alternatives
Purchase and Outlet selection
Information research
53
Which C involves businesses that can help the company achieve its goals and objectives?
Collaborators
Competition
Company
Customers
54
A pricing method that allows consumers to compare prices in relation to a standard unit/measure
Unit pricing
Price advertising
Price fixing
Unfair trade practices
55
Bring buyers and sellers together get a commission and move on without a long-term relationship
Agents
Brokers
Wholesalers
Intermediaries
56
A limited number of outlets in a given geographic area sell a manufacturer’s product
Exclusive
Selective
Intensive
Moderate
57
What does advertising mostly focus on during the "Growth" stage of the product life cycle?
Customer Satisfaction
Product Features
58
What is it when the marketer aims a single product at the whole market?
Differentiated marketing
Mass marketing
Niche marketing
Direct marketing
59
What is the number of product items in a product line?
Product item
Product mix
Product width
Product depth
60
What is a fad?
Product popular for a short period of time
Higher demand during certain times of the year
Small section of market with little competition
Mass movement towards a style or value
61
Co. will sell/license product to risk companies; try to rejuvenate it by keeping image the same
False
True
62
Which is NOT a step in product development?
Idea Execution
Idea Generation
Idea Screening
Test Marketing
63
Which function involves a chain of businesses that a good passes through to reach the consumer?
Selling
Marketing Information Management
Product/Service Management
Channel Management or Distribution
64
What is the Diffusion of Innovation category where a company convinces you to buy a product?
Confirmation
Persuasion
Knowledge
Decision
65
Refers to what a company offers, should meet a consumer demand, and goes through a life cycle
Promotion
Product
Price
Place
66
Which marketing function involves relationship building, closing, and product retention?
Marketing Information Management
Selling
Pricing
Promotion
67
What is the part of the brand that is an unspoken symbol or design?
Brand name
Trade character
Brand mark
Trademark
68
What is the Diffusion of Innovation category where the consumer reviews a purchased product?
Persuasion
Implementation
Confirmation
Knowledge
69
Taco Bell offering the Doritos Locos is an example of:
Mixed Branding
Co-Branding
Brand Licensing
Brand Extension
70
Businesses involved in transactions that move products from the manufacturer to the final use
Intermediaries
Wholesalers
Agents
Retailers
71
Involves product distribution in protected territories in a given geographic area.
Moderate
Exclusive
Intensive
Selective
72
Cost consumers pay for a product and is linked to the product's real and perceived value
Promotion
Product
Place
Price
73
"Customers will buy only so much of a given product, even if the price is low"
law of diminishing returns
law of lewis
law of diminishing marginal utility
law of limited demand
74
This type of conflict includes the same level within the channel
Mutichannel conflict
Vertical conflict
Horizontal channel conflict
Single channel conflict
75
What strategy relies on supply-and-demand elasticity?
Competition oriented pricing
Inelastic demand oriented pricing
Demand-oriented pricing
Cost-oriented pricing
76
What market segment includes country, city, density, language, climate, area, and population?
Geographics
Psychographics
Behavioral
Demographics
77
What is the name, term, design, symbol, or combination of these that distinguishes a product?
Brand promise
Brand
Slogan
Logo
78
What is Odd-Even Pricing?
Low prices set on a consistent basis without raising them
odd numbers convey a bargain image
higher prices to suggest high quality to consumers
Selling multiples is better than selling similar cheap items
79
The final link in the supply chain between manufacturers and consumers are the ________.
Retailers
Employees
Distributors
Customers
80
What is the number of product lines an organization offers?
Product width
Product depth
Product mix
Product item
81
What is a brand name/mark, trade character, or a combination that is given legal protection?
Trademark
Brand mark
Trade character
Brand name
82
What band is owned and initiated by national manufacturers?
National Brand
Local brand
Private distributor brand
Generic brand
83
Which market segment includes purchase, usage, intent, occasion, engagement, and buyer stage?
Behavioral
Psychographic
Geographic
Demographic
84
Which function involves obtaining, developing, maintaining, and improving the product/service?
Selling
Marketing Information Management
Product/Service Management
Promotion
85
What is it called when all the partners within a channel work as 1 entity to prevent conflict?
Channel union
Trade association
Co-Op of Channels
Labor Association
86
In which step do you determine the cost, effectiveness, and number of solutions available?
Evaluation of alternatives
Problem recognition
Post purchase evaluation
Purchase and outlet selection
87
Campbell’s Soup makes an agreement with Walmart to make a generic brand of soup for them
Mixed Branding
Co-Branding
Brand Extension
Brand Licensing
88
A pricing strategy used by wholesalers/retailers, uses the concept of markup...
Competition-oriented pricing
Industry pricing
Demand-oriented pricing
Cost-oriented pricing
89
Which of the following is NOT an example of a suboordinate goal?
Channel partners improving customer satisfaction
Channel partners increasing market share
Channel partners increasing profit maximization
Channel partners increasing the number of employees
90
Why may channel partners swap employees?
So channel partners can increase productivity in all sectors
So they can understand eachothers roles, preventing conflict
So channel partners can come up with new ideas
So they can increase profits in all sectors of the channel
91
What aspect of a product plays a large hand in its success or failure?
Pricing
Competition
Date of release
Packaging
92
What is a word or group of words, letters, or numbers that can be spoken?
Brand mark
Trademark
Trade character
Brand name
93
Dove decides to get to make chocolate Easter bunnies. This is an example of:
Mixed Branding
Brand Extension
Brand Licensing
Co-Branding
94
In which step do you determine how to share your product/service?
Purchase and outlet selection
Post purchase evaluation
Problem recognition
Information research
95
True or false: After diplomacy, mediation, and arbitration fail, a lawsuit may be filed
True
False
96
These executives must know how to choose transportation to set up facilities to manage assets
Network executives
Distribution channel executives
Supply chain logistics executives
Management flow executives
97
Why do companies provide discounts?
too many customer complaints on a product
worker incentives
to save product from discontinuation
they love the customers
98
These wait to get it until a CLEAR MAJORITY of people have tried a product and approve of it
The laggards
The early adopters
The later majority
The early majority
99
What is a POSITIVE of regionalizing the product?
generates more profit
eliminates national advertising costs
creates customer loyalty
people everywhere want the product
100
Blockchain helps authors make more money by increasing the royalties they obtain from purchases
True
False
101
Which function collects accurate data about market needs, competition and environment?
Selling
Marketing Information Management
Product/Service Management
Promotion
102
When a supplier markets a different product to each different segment?
Niche marketing
Direct marketing
Differentiated marketing
Mass marketing
103
Buy large amounts of good from manufacturers, store the goods, and resell them to retailers
Brokers
Retailers
Wholesalers
Intermediaries
104
What are the Segmented Pricing strategies
Product Design
Time of Purchase
Purchase Location
Buyer Identification
105
In what step do you decide what information your customer needs when viewing your solution?
Post Purchase evaluation
Purchase and Outlet selection
Evaluation of alternatives
Information research
106
Includes advertising, public relations and promotional strategy
Place
Price
Product
Promotion
107
Distribution intensity/selectivity depends on what
How widely a product will be distributed.
How a service will be preformed
How a product will be selected
The size and shape of a product
108
A plan used to increase sales of a product brand and maximize company products
SWOT Analysis
Brand strategies
Product plan
Marketing strategy
109
Which marketing function is determined by demand, market conditions, and competition prices?
Promotion
Selling
Pricing
Product/Service Management
110
Sell goods to the final consumer for personal use. Also known as brick-and-morter or e-tailers
Intermediaries
Brokers
Independent Manufacture' Reps
Retailers
111
What is a type of brand?
Private Distributor Brand
National Brand
Generic Brand
Local Brand
112
What is the Diffusion of Innovation category where a company convinces you to keep a product?
Persuasion
Knowledge
Implementation
Decision
113
Geico uses Endgame in its advertisements. This is:
Mixed Branding
Brand Licensing
Co-Branding
Brand Extension
114
Which of the following are B2B class purchases?
Straight Rebuy
Promotional Buy
New Buy
Modified Rebuy
115
In which step do you follow up with customers?
Problem recognition
Post purchase evaluation
Evaluation of alternatives
Information research
116
The type of demand when factors (i.e. price) have an effect on the quantity consumers buy
Inelastic demand
Elastic demand
117
Tiger Woods appears on a set of golf clubs in a store. What kind of brand strategy is this?
Mixed Branding
Brand Extension
Co-Branding
Licensing Brand
118
A product is offered as a combination of manufacturer, private distributor, and generic brands
Co-Branding
Mixed Brand
Brand Licensing
Brand Extension
119
Outlines where a company sells a product and how it delivers the product to the market
Place
Promotion
Price
Product
120
What is By-Product Pricing?
gets rid of excess materials
setting prices for accessories
sets a limited number of prices for certain groups
several products in a package that are sold at one price
121
T/F: "Pull Policy" uses promotion to convince a specific retailer to show interest in a product
False
True
122
Which market segment includes age, gender, income, education, family, occupation, and status?
Demographic
Behavioral
Psychographic
Geographic
123
What is this?
Product Line
Brand Equity
Product Life Cycle
4 Ps of Marketing
124
A specific version that can be designated as a distinct offering is a:
Product item
Product line
Product width/depth
Product mix
125
What is One-Price Policy
All customers are charged different prices
All sellers charge the same price
All customers are charged the same price
All customers purchase the same product
126
What is the Diffusion of Innovation category where the consumer buys or doesn't buy a product?
Persuasion
Implementation
Confirmation
Decision
127
When the channel partners such as manufacturer wholesaler retailer compete for sale with brand
Management conflict
Transportation conflict
Distribution Conflict
Channel conflict
128
The process to a natural placement on organic search engine result pages is...
Organic SEO
Confirmation
White hat SEO
Implementation
129
A positioning statement describes the customer and paints a picture of:
how you plan to market your product to the customer
how this customer relates to your brand
how you want the market to perceive your brand
how your brand serves that consumer market
130
In the diffusion of innovation theory, what is the first group of people to try a new product?
Laggards
Early majority
Early adopters
Innovators
131
What are the main stages of the product life cycle?
Demographics, Psychographics, Geographics, Behavioral
Introduction, Growth, Maturity, Decline
Product Item, Line, Mix, and Width & Depth
Product, Price, Place, Promotion
132
The policy designed to create customer interest and demand by enticing them is a ______ policy.
Promotional
Pull
Push
Direct Marketing
133
How is the use of financing vital in any economic system?
It turns entrepreneurs into millionaires without fail
It allows businesses to create successful financial plans
It allows companies to buy products out of immediate reach
It turns a failing business into a profiting business
134
Works with several related manufacturers and they are paid by commission on what they sell.
Agents
Independent Manufacturers Reps
Intermediaries
Brokers
135
What brand is owned and initiated by wholesalers and retailers?
Generic brand
National brand
Private distributor brand
Local brand
136
What is the marketing strategy that aims to make a brand distinct in the mind of the customer?
Positioning
Branding
Marketing
Purchasing
137
How would Blockchain affect banks?
It would not affect banks
Improve their revenue by buffing up their services
It would eliminate banks accounts and all bank services
138
What decision is NOT made during product planning?
Labeling
Packaging
Generic Brand
Services
139
These people are the very LAST in line to buy a product
The early adopters
The laggards
The early majority
The later majority
140
Which of the following is NOT done in the decision point?
Costs lowered
Recommitted product line
Sold or licensed product
Product is discounted
141
A situation that occurs when competitors agree on certain price ranges for themselves?
Price advertising
Unit pricing
Price discrimination
Price fixing
142
A distribution channel can involve which of the following?
Wholesalers, retailers, distributors, and the internet.
Retailers, Distributors, the internet, and the consumer.
Wholesalers, distributors, and the consumer.
The internet, marketing personnel, and wholesalers.
143
What is a brand mark with human form or characteristics?
Brand name
Brand mark
Trademark
Trade character
144
What must a brand do in order to be included in Interbrand's Best Global Brands?
The brand must be truly global
Expands across the established economic centers of the world
Make apples
Successfully transcends geographic and cultural boundaries
145
Ben and Jerry’s begin using Oreos in their ice would be:
Mixed Branding
Brand Extension
Brand Licensing
Co-Branding
146
When a marketer uses constant analysis of digital data to stay ahead of the competition?
Direct marketing
Differentiated marketing
Mass marketing
Niche marketing
147
Blockchain does which of the following for music artists?
Makes artists lose money
Makes music profitable
148
What is it called when a business aims their product towards a specific segment?
Promotion
Marketing
Segmentation
Targeting
149
Which of these is NOT a characteristic of the "Introduction" stage of the product life cycle?
High costs
Often experience losses
Very profitable
Sales volume low
150
What are the five C's of marketing?
Company, customers, competitors, collaborators, and climate
Customers, competitors, cooper, competitors, and cancel
Company, cool, climate, customers, and chocolate
Company, collaborators, competitors, computer, and chip
151
Which brand does not carry a company or brand name?
National brand
Private distributor brand
Generic brand
Local brand
152
What is a seasonal item?
Product popular for a short period of time
Small section of market with little competition
Mass movement towards a style or value
Higher demand during certain times of the year
153
How many steps are there in the consumer buying decision making process?
4
5
6
3
154
When would a "Product Extension" come into the product life cycle?
Growth
Decline
Introduction
Maturity
155
Which C involves a PEST (Political, Economical, Social, and Technological) analysis?
Competition
Company
Climate
Customers
156
Which C involves researching market size, growth, segments, purchasing, and seasonal factors?
Customers
Climate
Collaborators
Company
157
A Branding Strategy involving the use of an existing brand on a new product
Co-Branding
Brand Extension
Brand Licensing
Mixed Brand
158
Why do companies recommit to the product line?
company wants to change product image completely
more profit
to help expand company
item is declining and sales need to be boosted
159
What do the qualities in this chart comprise?
A company's marketing plan
A business' mission and vision
A company's market offering
A business' product differentiation
160
In this phase, companies must get the word out about a new product
Implementation
Persuasion
Knowledge
Decision
161
These people would be described the “followers” (they really need proof that something works)
The late majority
The innovators
The early adopters
The early majority

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