Marketing 2 - CRT Review

Question 1

Which of the following is essential to all marketing research:

Accepted Answer

accuracy

Question 2

Promotion benefits customers by making them

Accepted Answer

more informed

Question 3

Producers who eliminate all middlemen in the channel are said to be using _______ distribution.

Accepted Answer

direct

Question 4

Mariah sets prices for her company, she strives to maximize profit, which is considered a(n)

Accepted Answer

pricing objective

Question 5

An exchange price acceptable to both the buyer and the seller of a product is called

Accepted Answer

pricing

Question 6

Product/Service management should be approached from the angle of the

Accepted Answer

customer’s point of view.

Question 7

Trying to reach the greatest number of consumers possible, is a(n) ______ distribution pattern.

Accepted Answer

intensive

Question 8

Which of the following is an example of secondary data:

Accepted Answer

The information on a sales invoice

Question 9

A drugstore offers a large assortment of products, know as its product

Accepted Answer

mix

Question 10

Which of the following is an example of quantitative data:

Accepted Answer

“Tara graduated first in her class.”

Question 11

Which of the following is an example of an industrial user:

Accepted Answer

A hairstylist buying new scissors to perform haircuts

Question 12

Newspapers and magazines are categorized as ____________ media.

Accepted Answer

publication

Question 13

When a business has made enough money to pay its costs & begin to make a profit

Accepted Answer

break-even point

Question 14

With what do many customers associate price?

Accepted Answer

quality

Question 15

If marketers want to reach potential customers who are weary of traditional ads, they might try

Accepted Answer

creating a viral video

Question 16

Which of the following is an example of an ultimate consumer:

Accepted Answer

A teenager buying her/his first car

Question 17

Which of the following is an example of product promotion:

Accepted Answer

Coupon for the purchase of Ritz crackers

Question 18

Kellogg’s Froot Loops, General Mills’ Chex, and Post Honey Bunches of Oats are all examples of

Accepted Answer

product brands

Question 19

The industry featured in this picture is considered what type of competitive market?

Accepted Answer

oligopoly

Question 20

Which of the following is an example of institutional promotion:

Accepted Answer

A company’s donation of blankets to the homeless

Question 21

Which of the following is an example of internal data:

Accepted Answer

A cash-register receipt

Question 22

Which of the following is a purpose of warranties and guarantees:

Accepted Answer

To protect the producer and the seller

Question 23

Name the company associated with this trade character.

Accepted Answer

Kellogg's

Question 24

The Keebler Elves, Ronald McDonald, and Mr. Peanut are examples of

Accepted Answer

trade characters

Question 25

When customers buy TV's, they expect them to transmit pictures. This is an example of a(n)

Accepted Answer

implied

Question 26

Pepsi is surveying prospective customers to determine demand for its drink. What type of data?

Accepted Answer

primary

Question 27

What type of intermediary is this business

Accepted Answer

producer, retailer

Question 28

Contests, samples, and coupons are all examples of

Accepted Answer

sales promotions

Question 29

Erica wants to buy Marco’s used iPod. He is asking $100 for it. $100 is the iPod’s

Accepted Answer

selling price

Question 30

Many buyers & sellers of near identical products with little control over pricing.

Accepted Answer

pure competition

Question 31

Which is a reason for a business to add product items or lines to its product mix:

Accepted Answer

To satisfy customers’ desire for variety

Question 32

Earning a certain % of profit based on the amount of money that has been put into the business

Accepted Answer

return on investment

Question 33

The end result of promotion is that information about goods, services, images, or ideas will be

Accepted Answer

communicated

Question 34

What company is this trade character associated with?

Accepted Answer

Frito Lay

Question 35

Which of the following is the most popular data-collection method:

Accepted Answer

survey

Question 36

Any paid form of non-personal presentation of ideas, images, goods, or services is known as

Accepted Answer

advertising

Question 37

Which of the following is an example of qualitative data:

Accepted Answer

“It was so hot at the baseball game.”

Question 38

Channels of distribution benefit businesses by

Accepted Answer

getting their products to consumers more efficiently.

Question 39

The majority of businesses that use profit-oriented pricing want to

Accepted Answer

earn a reasonable amount of profit

Question 40

Sellers must set prices so that buyers feel they are receiving _________ value for their money.

Accepted Answer

optimal

Question 41

Which of the following is a benefit of channels of distribution?

Accepted Answer

We can more easily obtain products from all over the world.

Question 42

Text-message advertising is most likely to be successful when the ads are

Accepted Answer

delivered to the phones of people interested in the product.

Question 43

Identify the company advertising the product in this commercial.

Accepted Answer

Pepsi

Question 44

Marketers often conduct primary research when secondary research

Accepted Answer

isn’t complete enough.

Question 45

Channels of distribution benefit consumers by

Accepted Answer

making a variety of products available to them.

Question 46

Which function of a MIM system involves changing the format of facts to make them more useful?

Accepted Answer

data processing

Question 47

Jeni’s Ice Creams added ice cream sandwiches ice cream brand. This is an example of

Accepted Answer

brand extension

Question 48

The PLC is the stages a product moves through from the time it enters the market until the time

Accepted Answer

it exits the market

Question 49

What is the most common channel of distribution for large industrial goods?

Accepted Answer

Producer to industrial user

Question 50

Which of the following is a direct channel of distribution for consumer goods and services:

Accepted Answer

Producer to ultimate consumer

Marketing 2 - CRT Review

Questions 50

Marketing 2 - CRT Review

Questions 50