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Review for Marketing game #1 Flashcards | StudBud
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Review for Marketing game #1
Review for Marketing game #1
36 terms
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A brief overview of some of the key terms and concepts we have covered in the marketing unit
Flashcards
36 cards
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Practice quiz
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Host live
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Questions
36
Answers
1
Which of the following is an example of a need?
Friendship
Cell phone
Internet
Safety
2
What is Starbucks' primary market?
Young adults 18-24 who want a place to hang out and study
Males and females who are looking for coffee on a budget
Teens 13-19 who enjoy the fun atmosphere
Men and women 25-40 attracted by the hip and modern style
3
What is the second step in the consumer decision-making process?
Gather information
Select alternatives
Evaluate alternatives
Recognize a need
4
Publicity is non-paid promotional communication presented by the media
False
True
5
McDonalds and Starbucks are an example of...
indirect competition
direct competition
friendly competition
serious competition
6
A consumer profile is...
a group of people that do not like to buy the same products
a group that shares common characteristics and buying habits
a group of people that are more likely to sell a product
a group with different characteristics and interests
7
Product promotion/placement is an example of a...
sustainable competitive advantage
non-sustainable competitive advantage
8
A group of people identifies as those most likely to become customers
Rational buying motive
Market strategy
Target researchers
Target market
9
Who is a consumer?
Someone that makes the product
Someone that buys the product
Someone that sells the product
Someone that uses the product
10
How will demand be affected if economy is doing poorly and unemployment goes up?
People will only buy what they want
Demand for goods and services will go down
People will only buy what they need
Demand for goods and services will go up
11
In developed countries, demand is more driven by wants than needs.
True
False
12
What are demographics?
Tools that help people find which product is right for them
The study of age and gender in relation to marketing
The study of characteristics that categorize people
Understanding which products are least and most popular
13
Prices for goods, services, and events are primarily determined by...
consumers and the free-market
the government
the value of the product
businesses
14
A store offers a popular product at a very low price to attract more customers is an example of
Super sizing
Leader pricing
Everyday low prices
Price lining
15
This exam is going to be just as awesome as a round of ...
Fornight
Fortnight
Fortnight
Never was
16
What is the first step in the consumer decision-making process
Gather information
Select alternatives
Evaluate alternatives
Recognize a need
17
A product will probably have a relatively high price
If its supply is low
All of the above
If is unique and new
If it is hard to find
18
Developing a unique selling proposition is an example of a...
non-sustainable competitive advantage
sustainable competitive advantage
19
Product costs + Operating expenses + profit =
Markdown
Selling price
Gross margin
Markup
20
A legally protected word, name or symbol is called
Licensed brand
Trademark
Private brand
Generic
21
Hudson's Bay and Sears Canada are an example of...
direct competition
friendly competition
indirect competition
very serious competition
22
Which of the following is NOT a benefit of competition?
Encourages creativity and innovation
Products and services are of a higher quality
Could take advantage of workers and the environment
Cheaper prices for products and services
23
Unlimited wants and needs combined with limited resources results in
Pure competition
Scarcity
An oligopoly
None of the above
24
A small number of consumers expressing opinions about a new product in a group discussion is a
Focus group
Survey study
Target market
Experimental group
25
Which is not one of the Four P’s
Primary
Product
Price
Place
26
Which of the following describes psychographics?
The study of values and personality of a given population
Ethnicity, age, education
Lifestyle, opinions, interests
Measurable, statistical data of any given population
27
The following photo is an example of which type of non-sustainable advantage?
Placement
Benefit of use
Design feature
Quality
28
What does productivity refer to?
To produce more or better products using the same resources
Workers that demand to be paid a higher wage
Being able to sell products quickly, regardless of the cost
Having a good reputation and a loyal customer base
29
If there are too many sellers of the same product...
the demand goes down
the demand stays the same
the demand goes up and down
the demand goes up
30
Uber and Hertz are an example of...
Direct competition
Indirect competition
Fun competition
Very serious competition
31
Which of the following is NOT a demographic characteristic?
Religion
Personality
Gender
Job (occupation)
32
Who is a customer?
Someone that buys the product
Someone that makes the product
Someone that uses the product
Someone that sells the product
33
When there is less of a particular product (it becomes rare)
The demand goes down
The demand goes up
The demand stays the same
The demand goes up and down
34
When there is less of a particular product (it becomes rare)...
the demand goes down
the demand stays the same
the demand goes up and down
the demand goes up
35
According to Maslow's hierarchy of needs, your basic needs include the following:
Confidence, achievement, independence
Morality, problem-solving, creativity
Friendship, love, intimacy
Food, clothing, shelter
36
What is a niche market?
Type of market that deals only with products and not service
Products targeted towards a very large market
Focusing on a small but specific section of a bigger market
A market that does not last long; similar to a fad
