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Principles of Marketing Reviewer Flashcards | StudBud
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Principles of Marketing Reviewer
Principles of Marketing Reviewer
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Flashcards
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Questions
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Answers
1
Channel members should share an equal commitment to the products.
Name
Price
Packaging
Quality
2
Describe the picture.
Forward Integration
backward Integration
Retrenchment
Divestiture
3
When setting the price for a good, service, or idea, the following are the factors to consider, EXCEPT for one.
Market Demand
Costs
Competition
Location
4
What part of the marketing plan that outlines the most important findings from your research?
Executive summary
Micro- environment analysis
Macro- environmental analysis
Marketing objective
5
It sets a low initial price to penetrate market quickly and deeply to attract many buyers and win large market shares.
Market – skimming pricing
Market penetration pricing
Market and Demand
Competition-based pricing
6
Which refers to goods purchased to make other goods, to serve as a raw material or input in producing other goods?
Undifferentiated Goods
Consumer Goods
Industrial Goods
Consumer
7
What do you call on firms that sell goods to consumers and to industrial users for their own consumption?
Buyers
Wholesalers
Consumers
Retailers
8
Which part of the marketing plan indicates the total cost involved in the implementation of the proposed marketing plan.
Funds
Finances
Marketing Budget
Financial Projection
9
The following are the importance of customer experience EXCEPT:
New shoppers are more likely to turn into loyal customers.
A community of customers is a useless tool.
Trusted relationships are so important in uncertain times.
Customer satisfaction is more important now than ever before.
10
Which of the following selling concepts is described when sellers pay a visit to everybody’s house to sell routine item?
Online selling
Promotional selling
Selling
Door to door selling
11
What do you call a strategy that uses in person events to promote products?
Service
Experience
Variability
Organization
12
Describe the picture.
Floating
Retrenchment
Divestiture
Liquidation
13
Describe the picture.
Liquidation
Divestiture
Differentiation
Retrenchment
14
It refers to series of marketing entities through which goods and services pass on their way from producers to end users
Distribution channel
Wholesalers
Product
Supply chain
15
Which refers to the process of persuading a potential customer to a product?
Direct marketing
Sales promotion
Advertising
Public relations
16
Which refers to anything that can be offered to a market that satisfy a want or need?
Product
Experience
Service
Organization
17
A concept with a belief that states that the customers would always acquire products that are cheaper.
Product concept
Production concept
Marketing concept
Selling
18
Which refers to the component of the marketing plan that talks about the company, supplier, and marketing intermediaries
Market size
Market
Macro- environmental analysis
Marketing budget
19
Which refers to a blueprint that outlines a company’s advertising and marketing efforts for the coming year.
Business strategy
Marketing plan
Marketing strategy
Business plan
20
What is usually flashed on the television when an infomercial is screened?
Code
Bar code
Telephone number
Toll free number
21
What concept that is useful for selling unsought goods and their equivalent example.
Production concept/ process of using Model -T
Product concept/smartphone
Marketing concept / delivering the desired satisfaction
Selling concept/ life insurance
22
Who is the person responsible for developing and executing strategies to promote brands, products
Buyer
Customer
Consumer
Marketer
23
Consumers want to see that the business is offering value and taking into consideration the well-being of consumers.
Societal marketing concept
Marketing concept
Door to door selling concept
Selling concept
24
Describe the picture.
Product Development
Market Development
Unrelated Diversification
Related Diversification
25
Describe the picture.
Differentiation
Divestiture
Liquidation
Retrenchment