POM: Final Review

Question 1

A receiver's response to a message.

Accepted Answer

Feedback

Question 2

A building that stores large amounts of products or raw materials.

Accepted Answer

Warehouse

Question 3

To correct false impressions left by deceptive advertising, the FTC requires ____

Accepted Answer

Corrective ads

Question 4

Our government affect prices by doing all of the following except ____.

Accepted Answer

provides advertising for all products

Question 5

The right blend of product, place, price, and promotion is known as ____.

Accepted Answer

The Marketing Mix

Question 6

The minimum price for a product is determined by ____.

Accepted Answer

Total costs of the seller

Question 7

Business offering products from several different categories of merchandise

Accepted Answer

Retailer

Question 8

The 4 P's in marketing is ____.

Accepted Answer

Product, Place, Price, Promotion

Question 9

Def: A bus. relationship where the developer of a bus. idea sells others the rights to use it

Accepted Answer

Franchise

Question 10

Which of these is not a non-business organization?

Accepted Answer

American Eagle

Question 11

Product quantity that must be sold for total revenues to match total costs at a specific price.

Accepted Answer

Breakeven Point

Question 12

Disadvantages of personal selling include ____

Accepted Answer

All of these are correct

Question 13

The blending of advertising, personal selling, publicity and sales promotion is ____.

Accepted Answer

Promotional Mix

Question 14

Def: Exchange products/services with others by agreeing on their values without using money

Accepted Answer

Barter

Question 15

What is the primary purpose of packaging?

Accepted Answer

Protect the product

Question 16

The quantity of a product that must be sold for total revenue to match total costs.

Accepted Answer

Breakeven Point

Question 17

Loss of products due to theft, fraud, negligence, or error.

Accepted Answer

Inventory Shrinkage

Question 18

What is the purpose of suggestion selling?

Accepted Answer

Increase customer satisfaction

Question 19

A description of a product characteristic

Accepted Answer

Feature

Question 20

Business operations costs.

Accepted Answer

Operating expenses

Question 21

The decision making process begins with the customer ___.

Accepted Answer

having a need

Question 22

An effort to reach consumers by generating positive publicity

Accepted Answer

Public Relations

Question 23

Which of the following should not be considered when determining ad frequency?

Accepted Answer

Is there a strong pass-along rate

Question 24

A reduction from the original selling price.

Accepted Answer

Markdown

Question 25

The most popular and familiar form of promotion.

Accepted Answer

Advertising

Question 26

This important step occurs before, during, and after customer contact.

Accepted Answer

Determining Needs

Question 27

____ is(are) considered the root of all human behavior.

Accepted Answer

Needs

Question 28

All organization use marketing activities except ___.

Accepted Answer

All of these use marketing activities

Question 29

Def: The creation and maintenance of satisfying an exchange relationship.

Accepted Answer

Marketing

Question 30

Disadvantages of advertising include all except ____.

Accepted Answer

Organization may have little control over it

Question 31

A legal order to discontinue deceptive advertising.

Accepted Answer

Cease and Desist Order

Question 32

Which of the following best describes the steps for effectively answering customer questions?

Accepted Answer

Listen, Restate, Provide info, Check for understanding

Question 33

All of the following are consequences of not meeting customer needs except ____.

Accepted Answer

impressive sales and profits

Question 34

If the markup rate is 100% on merchandise that costs the company $10, what is the price?

Accepted Answer

$20

Question 35

Which of the following is illegal?

Accepted Answer

Price Fixing

Question 36

Def: The advantage provided to a customer as a result of the product's feature.

Accepted Answer

Benefit

Question 37

All of the following describe distribution except ____.

Accepted Answer

it is the easiest part of marketing

Question 38

What is the name of the psychiatrist who created the Hierarchy of Needs?

Accepted Answer

Maslow

Question 39

Def: A personalized presentation of the features of a product.

Accepted Answer

Demonstration

Question 40

DR: Which of the following is not one of the 3 basic reasons for saving money?

Accepted Answer

Have money available to lend to friends and family

Question 41

Direct, personal communications with prospective customers to assess and satisfy needs for products.

Accepted Answer

Selling

Question 42

Def: A receiver's response to a message

Accepted Answer

Feedback

Question 43

Marketing costs today are considered to be ___.

Accepted Answer

an investment

Question 44

Markup is the amount added to the sales price of a product.

Accepted Answer

False

Question 45

A marketing function that uses communication methods to encourage customers to buy.

Accepted Answer

Promotion

Question 46

Any person-to-person exchange

Accepted Answer

Interpersonal communication

Question 47

What does the marketing concept use to drive the marketing mix?

Accepted Answer

needs of customers

Question 48

A salesperson contacts potential customers randomly.

Accepted Answer

Cold calling

Question 49

A frame of mind developed by a person's beliefs, values, and feelings is called ____.

Accepted Answer

attitude

Question 50

Elements of the shopping environment that brings customers to a store.

Accepted Answer

Atmospherics

Question 51

Data that can be classified into meaningful numbers.

Accepted Answer

Quantitative

Question 52

Refers to the number of readers or viewers in a medium's audience.

Accepted Answer

Reach

Question 53

Amount of time required to place an advertisement

Accepted Answer

Lead Time

Question 54

What is the most popular form of promotion?

Accepted Answer

Advertising

Question 55

A facility used to accumulate products, regroup and repackage, and send out to other locations.

Accepted Answer

Distribution Center

Question 56

DR: "Personal finance is 80% ____ and 20% head knowledge."

Accepted Answer

behavior

POM: Final Review

Questions 56

POM: Final Review

Questions 56