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Unit 2 Exam Review Flashcards | StudBud
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Unit 2 Exam Review
Unit 2 Exam Review
20 terms
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StudBud Administration
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A review of Marketing concepts
Flashcards
20 cards
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Practice quiz
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Host live
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Questions
20
Answers
1
Now, you're a salesperson with existing clients. What step of the selling process can you skip?
Answer objections
Approach
Prospect and qualify
Close Sale
2
If you're in charge of the 4P's for your product, what don't you have to manage?
Pollution control
Test marketing
Concept testing
Product distribution
3
Which of the following is NOT one of the 4Ps
Product
Pancakes
Price
Place
4
What is the best way to build meaningful relationships with customers?
Engage in PUSH vs. PULL strategy
Give them proprietary product development updates
Track customer purchases
Develop an app for them to order from their phones
5
After sales services to reassure a customer of their product satisfaction helps avoid:
Doubt resolution
Reverse satisfaction
Anger
Cognitive dissonance
6
Ya'll differentiated your Lemonade Stand offerings. Those who were successful did what best?
Had the best location.
Bribed their friends.
Created real or perceived differences in their product.
Sold customers exclusively on price.
7
When you prepared for your Lemonade Stand, which part of the marketing process did you do?
Determine available financial resources
Design the most effective method of production
Develop a brand name and unique selling proposition
Follow-up with suppliers to ensure producer satisfaction
8
I solely own a pet store, but operate under a common name in a chain. I'm part of a(n):
horizontal distribution chain
corporate distribution system
wholesaler-sponsored chain
no, the answer isn't franchise
9
Check out this amazing solution for carrying heavy books to class! You guys need it! Buy one!
Sounds good, but can you negotiate your PRICE?
Dude, I already have a backpack. Lay off your PUSH strategy.
When will it go on sale? I need a PROMOTION to buy it.
Wow! I'll camp overnight to get one. Nice PULL strategy.
10
Which one is an example of the skimming price strategy?
Redbox rents DVDs for 89 cents a night
Only the styles at the front of the store are on sale.
20% discount on JcPenney's already discounted clothes
iPhones sell for $1500 before competitors enter the market
11
Competition is fierce, and I gotta remove middlemen from my supply chain. If I do, I'll learn:
what they provide is helpful, but not necessary.
I can't operate as efficiently without my intermediaries.
Middlemen give me the best holiday gift baskets.
intermediaries overcharged me for years for their services
12
Which statement is the MOST accurate?
Dealers don't need to be targets by sales promotions
Sales promotions create customer awareness
Sales promotions are expensive and have a low ROI
Sales promotions should be targets internally and externally
13
Targeting a market based on age, income, or education level is what kind of segmentation?
Psychographic
Econometric
Demographic
Stereotyping
14
GoCollege.com can help you with every aspect of college. What utility does it provide you?
Form only
Service only
Service and Information
Form and Service
15
For the next Lemonade Stand Challenge, I'll ask you to develop an ad campaign, because you're a
Target Market manager
Commercialization manager
Brand manager
Product Development manager
16
When you do your primary research and ask only women for their feedback, you're doing:
Sexual harrassment
Test marketing
psychographic segmentation
Concept testing
17
The primary responsibility of a company's PR department is:
Design and place ads
Train salespeople in customer service
Identify key markets and select target customers
Manage image and ties with media and stakeholders
18
What is the primary difference between B2B (biz 2 biz) and B2C (biz 2 consumer) markets?
Relationship marketing is more important in B2C than B2B
B2B buyers are more rational than B2C
B2B buyers use more intermediaries than B2C
B2B buyers have existing needs; B2C have developing needs
19
You're developing new products for a business. The best strategy is:
Focus on the product, but don't worry about price or service
Develop one great product and focus only on improving it
Develop a few solid products and stick with them
Develop products based on changing customer demands
20
_____ helps companies satisfy their customers with the best goods and services over time.
Customer relationship management
Non-profit marketing
The marketing mix
Social responsibility
