SEM Unit 3 Test Review: Question Preview (ID: 29373)

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Depending on the intended use of the product, the same product could be both a consumer good and a business good.
a) True b) False c) d)
One of the ways companies get new ideas for products is by reading customer complaints and/or merchandise returns.
a) True b) False c) d)
A focus group may be asked to evaluate a new product.
a) True b) False c) d)
Fads have a long life cycle.
a) True b) False c) d)
Price helps determine a company’s profit and loss.
a) True b) False c) d)
Baseball cards for a popular player or special occasion may be produced in a limited edition rather than in very large quantities, which creates a demand higher than the supply and allows the producer to charge a larger amount of money.
a) Ture b) False c) d)
To increase its market share, a company may lower the price of its product to do so.
a) True b) False c) d)
Place decisions involve how you get your product into the hands of your customers.
a) True b) False c) d)
Telephone sales is an example of indirect selling.
a) True b) False c) d)
Advertising rates usually depend on the circulation, or size, of the audience that will be exposed to the ad.
a) True b) False c) d)
If you purchased a pair of Nike athletic shoes in a retail store, the shoes would be considered a ____ good
a) consumer b) product Item c) business d) product line
____ is the third part of the product life cycle.
a) maturity b) growth c) introduction d) decline
____ is the value placed on the goods or services being exchanged.
a) prestige pricing b) odd-even pricing c) price d) target pricing
____ is the difference between the retail or wholesale price and the cost of an item.
a) cost-plus pricing b) markup c) skimming pricing d) penetration pricing
____ 15. Which of the following is a step in the research process?
a) identify the problem b) conduct secondary research c) report and analyze data d) all of these
Which of the following is a type of research method used in primary research?
a) experiment b) observation c) survey d) all of these
Which of the following is a disadvantage of mail and fax questionnaires?
a) duplicate responses by same person b) only provides for quantitative answers c) return rate d) all of these
Which of the following is an example of direct marketing?
a) telephone sales b) catalogs c) infomercial d) all of these
These are resellers who buy goods, store them, and sell them in smaller quantities to retailers or sports organizations.
a) wholesalers b) agents c) ticketmaster d) ticketweb
Which of the following activities are associated with event marketing?
a) sales b) distribution c) promotion d) all of these
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