Which of the following are major classes of B2C purchases?

Convenience, Shopping, Specialty

Small section of market with little competition

What is a POSITIVE of regionalizing the product?

eliminates national advertising costs

What is Odd-Even Pricing?

odd numbers convey a bargain image

What are the three major stages of consumption?

Pre-purchase, Service encounter, Post-purchase stage

Mass movement towards a style or value

What are the 4 P's of marketing?

Product, Price, Place, Promotion

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

Which function collects accurate data about market needs, competition and environment?

Marketing Information Management

What is a type of brand?

Generic Brand, Private Distributor Brand, National Brand

What does a SWOT analysis include?

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

What are the main stages of the product life cycle?

Introduction, Growth, Maturity, Decline

These executives must know how to choose transportation to set up facilities to manage assets

Supply chain logistics executives

How would Blockchain affect banks?

It would eliminate banks accounts and all bank services

Which of the following is NOT an example of a suboordinate goal?

Channel partners increasing the number of employees

Product popular for a short period of time

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MHMS Marketing Dual Credit Exam Review

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Questions 161

Answers

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

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