LPA Review

Question 1

Which statement BEST defines the marketing concept?

Accepted Answer

satisfy customers’ needs and wants

Question 2

Starbucks gives 20% of its profits to cancer research during October. Starbucks is utilizing...

Accepted Answer

Public Relations

Question 3

Which is an example of primary research?

Accepted Answer

survey responses

Question 4

Which function involves launching a new and improved product

Accepted Answer

Product Service Management

Question 5

Which is NOT a reason to use target marketing instead of mass marketing

Accepted Answer

Saves Power

Question 6

Based on principles of supply and demand, as demand of product increases, what happens to price

Accepted Answer

price increases

Question 7

If a customer says “That is more than I wanted to spend”, what type of objection is that?

Accepted Answer

Price

Question 8

The Marketing Mix

Accepted Answer

Product, Price, Place, Promotion

Question 9

My Coke Rewards, point tracking system, allows customers to earn points redeemable for products

Accepted Answer

Loyalty Marketing

Question 10

Father books hotel with fireworks and parades for family vacation; what is his buying motive?

Accepted Answer

Emotional

Question 11

Tide plans to change the packaging on their detergent bottles, which research do they need?

Accepted Answer

Product Research

Question 12

Tree, Water, and Land are examples are which type of utility

Accepted Answer

Form Utility

Question 13

Advertising, public relations and direct mail are all elements of the...

Accepted Answer

Promotional Mix

Question 14

Bruster's punch card that tracks your purchases to earn a free icecream is an example of...

Accepted Answer

Loyalty Marketing

Question 15

Mass marketing is the most efficient way to reach the most people

Accepted Answer

False

Question 16

If you are trying to reach consumers who want to get in shape, you need what segmentation info?

Accepted Answer

Psychographic

Question 17

During a movie scene, an actor eats a Domino's Pizza.. This is which type of promotion?

Accepted Answer

Product Placement

Question 18

James books a hotel for a family vacation based on cost, mileage from parks & free hotel wifi

Accepted Answer

Rational

Question 19

Based on supply and demand, as supply of the product increases, what happens to price?

Accepted Answer

Price Decreases

Question 20

A company wants to increase its market share of women 25-54; their marketing objective is about

Accepted Answer

Target Market

Questions 20