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Mktg - Mid Term Review - Spring 2016
Test Description: Mktg
Instructions: Answer all questions to get your test result.
1) What is typically NOT true of the maturity stage of the product life cycle?
A
profits increase
B
increased competition
C
the brand must be reinforced
D
sales slow down
2) The ___________ is the legal name of the company doing business.
A
trade character
B
brand name
C
trade name
D
trademark
3) Strengths and weaknesses are internal factors that affect a business operation.
A
True
B
False
4) Ricky Bobby has a car stereo business. He has too many workers on staff and has seen a very small profit as a result. Which SWOT factor would apply to Ricky Bobby's business?
A
threat
B
weakness
C
opportunity
D
strength
5) Thinking of the branding strategies, which one involves one manufacturer making more than one brand in order to target different markets.
A
multi brand
B
brand extension
C
co-branding
D
brand licensing
6) What is a target market?
A
a group of people most likely to be similar in age
B
a group of people most likely to become customers
C
a group of people similar to one already identified
D
a group of people identified by using market research
7) A company should conduct a ______________ to see what is happening externally.
A
segmentation of markets
B
marketing plan
C
SWOT analysis
D
environmental scan
8) A good example of a mass marketing campaign would be for
A
Timex watches
B
toothpaste
C
Tums heartburn medicine
D
trampolines
9) What do geographics, demographics, psychographics, and behavioral factors have in common?
A
They are examples of mass marketing approaches.
B
They are methods that can be used to segment a market.
C
They are terms used frequently in sales-oriented companies.
D
They are unrelated to one another and therefore should not be used in combination to market a product.
10) ___________________________refer to statistics that describe a population in terms of personal characteristics such as race, gender, age and income level.
A
Geographics
B
Demographics
C
Behavioral factors
D
Psychographics
11) Words that are used in a specific industry that may not be understood by those not in that industry are called _________.
A
verbal communication
B
PEST
C
nonverbal communication
D
jargon
12) Which type of branding promotes store loyalty?
A
private label brand
B
manufacturers brand
C
national brand
D
generic brand
13) Companies do this to try and get an edge up on competition.
A
marketing concept
B
marketing plan
C
product positioning
D
product planning
14) With your discretionary income, you might buy/pay for
A
cell phone bill
B
private school tuition
C
a gallon of milk
D
medicine
15) Ana's cookie company has encountered a problem with her technology. It is outdated and there are no more parts available to have it fixed. This would be considered a ___________.
A
weakness
B
opportunity
C
strength
D
threat
*select an answer for all questions
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