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POB Unit 3 Test Review
Test Description: Unit 3 test review
Instructions: Answer all questions to get your test result.
1) Most new products introduced by companies are not totally new, but are improvements on existing products.
A
False
B
True
C
n/a
D
n/a
2) The first step in marketing research is to develop a data collection procedure.
A
True
B
n/a
C
n/a
D
False
3) The marketing mix refers to the blending of the marketing elements
A
n/a
B
True
C
False
D
n/a
4) Finding solutions to problems through carefully designed studies involving consumers is referred to as effective communication.
A
True
B
n/a
C
n/a
D
False
5) Mary, a marketing research manager, is fortunate to have secured an advertising budget of $30,000. This is an example of which marketing function?
A
distribution
B
financing
C
pricing
D
selling
6) The average cost for a popular pocketbook is $310. A local company has marked up the selling price by 45%. What is the amount of markup?
A
549.50
B
449.50
C
45.00
D
139.50
7) Which is an EXAMPLE of personalized promotion?
A
Beck presented a seminar to 3000 people to promote hand-held computers.
B
Whole Foods Company sponsored a health fair.
C
Mary test drove several SUV’s at the Infiniti dealership.
D
Jade’s company posted flyers for guest to see about her detox program.
8) The best definition of marketing is:
A
Producing and distributing products and services to customers.
B
None of the above is correct.
C
Promotion and selling
D
Finding customers and convincing them to buy your products.
9) The two steps in a marketing strategy are:
A
Conducting marketing research and planning production.
B
Identifying a target market and developing a marketing mix.
C
Pricing a product and distributing it to customers.
D
Developing a product and promoting it to consumers.
10) Which of the following is an example of a rational buying motive?
A
love
B
self image
C
fear
D
economy
11) The availability of a service must match the demand for that service at a specific time because it is
A
heterogeneous
B
inseparable
C
perishable
D
intangible
12) Which of the following conditions will result in a lower rather than a higher price?
A
a high customer demand
B
a large quantity of available products
C
a products that has very few similar competing products
D
all would result in lower prices
13) When businesses specialize in producing a specific type of product, a channel of distribution will be needed to adjust differences in
A
location
B
assortment
C
quantity
D
timing
14) Which of the following is NOT a part of effective communication?
A
receiver
B
sender
C
advertisement
D
information
15) The most expensive but also most effective type of promotion is:
A
publicity
B
advertising
C
personal selling
D
public relations
16) BP Gas Station offers a combo meal for $3.29 at its locations within five miles of fast food restaurants. Which step of the marketing strategy have they performed?
A
Identify a marketing mix
B
Create a marketing mix
C
Identify a target market
D
Create a target market
17) Linda searched the Internet for reviews on a new cosmetic product. This is an example of which type of consumer information source?
A
Product Testing Organization
B
Government Agencies
C
Media
D
Business Sources
18) Joe wanted specific advice on a new bike, so he visited a local bike shop. This is an example of which type of store?
A
department
B
specialty retailer
C
convenience
D
mail order
*select an answer for all questions
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