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Unit 3 Review
Test Description: Unit 3 Review Principles of Business and Finance
Instructions: Answer all questions to get your test result.
1) Joan read a newspaper article about a new and improved product coming on the market next week. This is an example of which type of consumer information source?
A
Government agencies
B
Media
C
Product testing organization
D
Business sources
2) John needed to purchase a soda as quick as possible. Which type of store would be the quickest to purchase a soda?
A
Factory outlet
B
Mail order
C
Convenience
D
Department
3) Mary will be opening her own camera store soon. She is trying to figure out which types of cameras to sell. Where is she in the consumer decision-making process?
A
Gather information
B
Recognize a need or want
C
Select and evaluate alternatives
D
Make a purchase
4) Brad refuses to eat a new product because of a warning from the United States Department of Agriculture. This is an example of which type of consumer information source?
A
Government agencies
B
Product testing organization
C
Business sources
D
Media
5) Ken reviews the nutritional content on the product label to avoid saturated fat. This is an example of which type of consumer information source?
A
Business sources
B
Media
C
Product testing organization
D
Government agencies
6) Soho sells its shoes directly to the consumer through its own stores at discounted prices. This is an example of which type of store?
A
Department
B
Factory outlet
C
Mail order
D
Convenience
7) Mary decided to order more Casio, Epson, Nikon, and Sony cameras for her store. These cameras have received the best reviews from her customers. Where is she in the consumer decision- making process?
A
Recognize a need or want
B
Select and evaluate alternatives
C
Gather information
D
Determine the effectiveness of the decision
8) Mary checks the label on all products she buys for warnings. This is an example of which type of consumer information source?
A
Government agencies
B
Media
C
Product testing organization
D
Business sources
9) Dr. Scholl’s provides a variety of products for the feet. It promotes its product to people who want to make their feet more comfortable. Which step of the marketing strategy has it performed?
A
Identify a marketing mix
B
Identify a target market
C
Create a target market
D
Create a marketing mix
10) Office Depot sells office supplies and copying services. It promotes its supplies and services to customers that operate a home office or a business office. Which step of the marketing strategy has it performed?
A
Identify a target market
B
Identify a marketing mix
C
Create a marketing mix
D
Create a target market
11) Mary plans to order 300 cameras for her store inventory. Where is she in the consumer decision- making process?
A
Make a purchase
B
Gather information
C
Select and evaluate alternatives
D
Recognize a need or want
12) Mary has reviewed several camera dealers’ websites, talked with other camera store operators, and surveyed potential customers about cameras. Where is she in the consumer decision-making process?
A
Make a purchase
B
Select and evaluate alternatives
C
Recognize a need or want
D
Gather information
13) Mary is debating about which four of the following cameras to purchase: Canon, Casio, Epson, Konica Minolta, Nikon, Panasonic, and Sony cameras. These cameras have better performance records. Where is she in the consumer decision-making process?
A
Gather information
B
Recognize a need or want
C
Select and evaluate alternatives
D
Make a purchase
14) A travel agency usually offers vacation packages starting at $399. The manager has determined that its operating expenses have increased; therefore, it will increase its markup by 45%. What will the new starting price for a vacation packages?
A
$578.55
B
$179.55
C
$45.00
D
$358.55
15) DMS has opened many warehouses throughout the city. This has especially increased convenience for its business customers. This is an example of which marketing function?
A
Distribution
B
Promotion
C
Financing
D
Selling
16) Carnival Cruise Lines now offers 20 ounce bottles of water instead of the 12 ounce bottles it previously sold. This is an example of which marketing function?
A
Product management
B
Financing
C
Distribution
D
Selling
17) Which is an example of direct channel of distribution?
A
Mary takes care of all the marketing functions for her cupcake company.
B
Mary pays an advertising agency to promote her cupcake company.
C
Mary pays Tim to deliver cupcakes to customers.
D
Mary hired her mother to assist with her cupcake business.
18) Dunkin’ Donuts offers a free donut to customers that complete an on-line survey. The feedback will help with the future product options. This is an example of which marketing function?
A
Distribution
B
Selling
C
Marketing-information management
D
Financing
19) New York Fashions Clothing Company surveys customers to find out which zip codes most of their customers reside. The results will help with the company's relocation plans. This is an example of which marketing function?
A
Marketing-information management
B
Financing
C
Distribution
D
Selling
20) Lowes Home Improvement provides credit lines to other businesses in order to meet its organizational goals. This is an example of which marketing function?
A
Selling
B
Financing
C
Distribution
D
Pricing
*select an answer for all questions
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