Unit 1 Test Review

Question 1

What is a common phrase used in business

Accepted Answer

You need to know your competitor better than yourself

Question 2

What are two important things to look at when selling a product

Accepted Answer

Place and Timing

Question 3

What is the correct order of needs from Maslow’s Hierarchy of needs? Physiological, .......

Accepted Answer

Safety, Love and Belonging, Esteem and Self-Actualization

Question 4

SCENARIO

Accepted Answer

Maybe if it had better safety features

Question 5

What is the pull strategy?

Accepted Answer

Increase consumer demand by advertisements and distribution

Question 6

What are the main elements of the marketing mix?

Accepted Answer

All the above

Question 7

Which one of these is not true

Accepted Answer

Demand outstrips supply to this day

Question 8

SCENARIO

Accepted Answer

His mother

Question 9

At what stage are most teenagers

Accepted Answer

Physiological

Question 10

When deciding your target market, you should consider...

Accepted Answer

Age, Gender, Income, Life cycle and Psychographics

Question 11

The higher the price of a good, the less people will demand for that good.

Accepted Answer

True

Question 12

Deciding who your target market is, will allow you to sell your product or service to...

Accepted Answer

the type of consumers most likely to purchase your product

Question 13

Wants are something people desire to have in order to add pleasure and comfort to their lives.

Accepted Answer

True

Question 14

The higher income that your target market has, the more money you will make

Accepted Answer

False

Question 15

Which one of these is not a need

Accepted Answer

Brand-Name Clothes

Question 16

The success of any marketing strategy depends on whether the entrepreneur has....

Accepted Answer

planned the right combination of marketing elements

Question 17

What is the value equation? Add together....

Accepted Answer

All the benefits of the product and subtract the cost

Question 18

Product refers to a tangible object or service. True or False

Accepted Answer

True

Question 19

What doesn’t fit the mix of what triggers someone to buy something?

Accepted Answer

Unattractive and expensive

Question 20

What is the push strategy?

Accepted Answer

Trying to sell the product to the retailer

Question 21

People in stage one probably have lots of money.

Accepted Answer

False

Question 22

SCENARIO

Accepted Answer

Lower

Question 23

SCENARIO: True or False

Accepted Answer

False

Question 24

Marketing is.....

Accepted Answer

identifying, anticipating and satisfying the consumer's need

Question 25

Does a gatekeeper make the decisions for young children

Accepted Answer

True

Question 26

You can guarantee success if your marketing plan involves the 4 P’s

Accepted Answer

False

Question 27

Which statement is false.. To be successful you must

Accepted Answer

Focus only on the quality and price of your product

Question 28

SCENARIO

Accepted Answer

the advertisement/promotion of his product

Question 29

SCENARIO

Accepted Answer

Life Jacket

Unit 1 Test Review

Questions 29

Unit 1 Test Review

Questions 29