Consumer products can be classified as:

Convenience, shopping, specialty, and unsought products.

The three steps of the target marketing process are...

Segmentation, targeting, and positioning.

The four targeting strategies include:

Undifferentiated, differentiated, concentrated, and custom.

What are the three levels of business planning?

Strategic, functional, and operational.

What are the 4 P's of Marketing?

Product, price, promotion, and place.

What are the methods for collecting primary data?

Surveys, observation, questionnaires, and online research.

The four types of utility include:

Form, place, time, and possession.

Targeting is defined as...

When marketers evaluate consumer segments and choose.

What is the difference between advertising and marketing?

Advertising is only a small piece of marketing.

Consumer markets can be segmented according to which of the following criteria?

Demographics, psychographics, and behavior.

Marketing utility refers to...

The sum of the benefits received from a good or service.

The three types of product innovation include:

Continuous, dynamically continuous, and discontinuous.

What are demographics?

Statistics that measure observable aspects of a population.

What does a SWOT analysis assess?

Strengths, weaknesses, opportunities, and threats.

Data mining is used for...

The acquisition, retention, and abandonment of customers.

Marketing research refers to...

Collecting, analyzing, and interpreting data.

How your product is viewed in comparison to the competition.

The five stages of the consumer product adoption process include...

Info gathering, trial, purchase, review, feedback.

Market fragmentation refers to...

Creation of many consumer groups due to diversity of needs.

Who are stakeholders?

Anyone with a "stake" in the company's outcome.

The four eras which make up the history or marketing include...

Production, Sales, Relationship, and Triple Bottom Line.

Examples of internal influences in the consumer decision making process include...

Perception, motivation, learning, attitude, and personality.

A marketing information system (MIS) essentially...

Gathers, sorts, analyzes, stores, and distributes data.

Maslow's Hierarchy of Needs includes the following levels...

Physiological, safety, belonging, ego, self-actualization.

What are business to business markets?

Where businesses market and sell to other businesses.

The four types of data used in an MIS include...

Company data, intelligence, research, and acquired data.

The proper definition of consumer behavior is...

When individuals select, purchase, use, and discard goods.

What are the three components to the Triple Bottom Line?

Financial, social, and environmental.

What is the definition of marketing?

Creating, communicating, and delivering value to customers.

Search engine marketing refers to...

Marketers pay search engines to put their ads near the top.

What is target marketing strategy?

Selecting segments of the population to target your message.

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Principles of Marketing Mid-Term Review

35 termsStudBud Administration96 plays

A #marketing #blindquiz designed to prepare students for the #midterm.

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Questions 35

Answers

1
Consumer products can be classified as:
Durable, non-durable, commodities, and services.
Name-brand, store-brand, generic, off-label.
Convenience, shopping, specialty, and unsought products.
Household, leisure, workplace, and special.
2
Which perspective of marketing incorporates marketing functions across the entire company?
The Business Perspective.
The Modern Perspective.
The Inverse Perspective.
The Classic Perspective.
3
The three steps of the target marketing process are...
Production, marketing, and sales.
Segmentation, targeting, and positioning.
Selection, acquisition, and segmentation.
Product, place, and promotion.
4
The four targeting strategies include:
Local, regional, national, and international.
Undifferentiated, differentiated, concentrated, and custom.
Primary, secondary, tertiary, and auxiliary.
Localized, unfocused, random, and spatial.
5
What are the three levels of business planning?
Strategic, functional, and operational.
Fiscal, administrative, and legal.
Long-term, short-term, and emergency.
Executive, mid-level, and operational.
6
What are the 4 P's of Marketing?
Promotion, production, persuasion, and placement.
Product, price, promotion, and place.
Product, promotion, place, and persuasion.
Price, product, procedure, and placement.
7
What are the methods for collecting primary data?
Phone interviews, surveys, questionnaires, and focus groups.
Internal and external collection, acquisition, and exchange.
Simulations, experiments, observation, and acquisition.
Surveys, observation, questionnaires, and online research.
8
The four types of utility include:
Form, place, time, and possession.
Real, unreal, rational, and irrational.
Time, product, price, and promotion.
Price, product, promotion, and place.
9
Targeting is defined as...
When marketers evaluate consumer segments and choose.
Allocating your marketing budget to drive results.
Deciding which product to offer in which location.
Assigning responsibility for a marketing plan.
10
What is the difference between advertising and marketing?
Advertising is only a small piece of marketing.
Marketing is only a small piece of advertising.
Advertising is not part of marketing.
They are essentially the same.
11
Consumer markets can be segmented according to which of the following criteria?
Location, income, and ethnicity.
Demographics, psychographics, and behavior.
Behavior, purchasing power, and location.
Anthropology, psychology, and sociology.
12
Marketing utility refers to...
The sum of the benefits received from a good or service.
The cost of your marketing efforts divided by total sales.
The amount of profit made after expenses are considered.
The money a customer saves by purchasing your product.
13
The three types of product innovation include:
Technological, social, and physical.
Igneous, metamorphic, and sedimentary.
Continuous, dynamically continuous, and discontinuous.
Electronic, biological, and inert.
14
What are demographics?
A vague description of your target market.
Statistics that measure observable aspects of a population.
A measure of the internal motivations of consumers.
The way people feel about your product or brand.
15
What does a SWOT analysis assess?
Sales, weaknesses, organizational behavior, and threats.
Suppliers, workers, outliers, and threats.
Sales, workers, organizational leaders, and technology.
Strengths, weaknesses, opportunities, and threats.
16
Data mining is used for...
Understanding the needs of stakeholders.
Gathering consumer data to be sold at a profit.
The acquisition, retention, and abandonment of customers.
Determining where to advertise your products.
17
Marketing research refers to...
Data on your customers acquired from third parties.
Collecting, analyzing, and interpreting data.
A scientific discipline dedicated to business research.
Covert operations to spy on your competition.
18
As marketers, our primary goal is to deliver ______ to customers.
Savings.
Value.
Products.
Messages.
19
What is positioning?
Deciding on the final product price.
Placing your product at eye level on display shelves.
How your product is viewed in comparison to the competition.
Where your product is sold to customers.
20
The five stages of the consumer product adoption process include...
Evaluation, adoption, confirmation, review, and feedback.
Info gathering, trial, purchase, review, feedback.
Research, analyze, purchase, evaluate, and conclude.
Awareness, interest, evaluation, trial, and adoption.
21
A marketing plan is a document that includes...
All three answers are correct.
A list of who will be responsible for carrying out strategy.
A description of the marketing environment.
An outline of the marketing objectives and strategy.
22
Market fragmentation refers to...
Segmenting the population by race, education, and finances.
Bankrupt companies selling assets to raise capital.
Federal anti-trust laws the prevent monopolies.
Creation of many consumer groups due to diversity of needs.
23
Who are stakeholders?
Anyone with a "stake" in the company's outcome.
Members of the local community.
The employees of a company.
People who own shares of stock in a company.
24
The four eras which make up the history or marketing include...
Production, Sales, Relationship, and Triple Bottom Line.
Triple Bottom Line, Information, New, and Post-Modern.
Traditional, New, Electronic, and Neo-Classical.
Sales, Relationship, Classic, and Modern.
25
____ research is collected by firms for no particular purpose and sold to other companies.
Primary.
Secondary.
Qualitative.
Syndicated.
26
Examples of internal influences in the consumer decision making process include...
Conscience, character, self-concept, morals, and attitudes.
Perception, motivation, learning, attitude, and personality.
Culture, subculture, social class, and opinion leaders.
Physical environment, time, money, social influencers.
27
A marketing information system (MIS) essentially...
Provides monthly reports of sales data.
Makes all marketing decisions for the company.
Gathers, sorts, analyzes, stores, and distributes data.
Automates customer service functions to save time.
28
Maslow's Hierarchy of Needs includes the following levels...
Inner, outer, relational, spatial, and interpersonal.
Physiological, safety, belonging, ego, self-actualization.
Psychologic, physiologic, spiritual, metaphysical, special.
Body, safety, social, financial, and spiritual.
29
What are business to business markets?
Companies who pool research, manufacturing, and marketing.
Lobbyists hired to represent corporate interests.
Where businesses market and sell to other businesses.
Large marketplaces where businesses promote future goods.
30
The four types of data used in an MIS include...
Company data, intelligence, research, and acquired data.
Sales, returns, profit, and loss.
Scientific, qualitative, quantitative, and null.
Primary, secondary, acquired, and custom data.
31
The proper definition of consumer behavior is...
How consumers feel toward your brand or product.
The way consumers behave in-store versus online.
The spending habits of your target market.
When individuals select, purchase, use, and discard goods.
32
What are the three components to the Triple Bottom Line?
Fiscal, legal, and social.
Executive, legislative, and judicial.
Financial, social, and environmental.
Administrative, financial, and environmental.
33
What is the definition of marketing?
Producing products that consumers can afford to purchase.
The process of exchanging goods and services for money.
Creating, communicating, and delivering value to customers.
Buying and selling ads on TV, radio, and social media.
34
Search engine marketing refers to...
Learning about the marketing process via internet searches.
Marketers pay search engines to put their ads near the top.
Promoting the use of one search engine over another.
Relying only on websites to promote your product.
35
What is target marketing strategy?
Choosing the members of your marketing team.
Selecting segments of the population to target your message.
Offering a new product to the general public.
Preparing a written plan for promoting your product.

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