NEW Marketing 1.03: Question Preview (ID: 20820)


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What is the most important component of an effective business letter?
a) Opening
b) heading
c) address
d) message

What is one reason why an employee might write a business letter?
a) To sell goods and services
b) To communicate with friends
c) To accept a social invitation
d) To apply for personal credit

What does a business need in order to understand why a product that has been a strong seller for a long time is now losing popularity?
a) Sales records
b) Marketing information
c) Secondary data
d) Purchasing documents

What is one reason why an employee might write a business letter?
a) To sell goods and services
b) To apply for personal credit
c) To communicate with friends
d) To accept a social invitation

What does a business need in order to understand why a product that has been a strong seller for a long time is now losing popularity?
a) Sales records
b) Marketing information
c) Purchasing documents
d) Secondary data

XYZ Company noticed that the sales of iPads in blue have increased in sales. What can be the business determine about the iPads?
a) Popular products
b) research methods
c) economic resources
d) competitors' activities

What type of marketing data can a business obtain by reviewing its inventory reports and customers' invoices?
a) Product quality
b) Customers' product preferences
c) Customers' credit limits
d) Actual market share

What does continuously monitoring internal marketing information enable businesses to do?
a) Investigate competitors
b) Analyze economic changes
c) Identify problems
d) Evaluate market share

What type of internal report would indicate to a business that sales for a specific product have dramatically dropped over the past three months?
a) Market demographics analysis
b) Accounts-payable summary
c) Annual income statement
d) Quarterly inventory status

By monitoring its sales and its customers' buying habits, what is a business often able to identify?
a) Economic resources
b) Competitors' activities
c) Research methods
d) Popular products

What is one way that many businesses use the marketing information contained in sales reports?
a) To monitor expense accounts
b) To qualify potential new customers
c) To improve the effectiveness of salespeople
d) To develop negotiating techniques

Manny has a new idea for a new cleanser that would decrease the time in cleaning tiled floors. He thinks this product would be better than any cleanser currently on the market. Which of the four Ps should these investors consider first?
a) Price
b) Place
c) Promotion
d) Product

To promote its summer menu, Danielle's Cafe plans to e-mail a $5.00-off coupon to its regular customers next Tuesday. The coupon will be valid from June 1 through June 15. What does use of the coupon represent?
a) Tactic
b) Strategy
c) Goal
d) Trend

A business determines that it can increase its market share 12 percent by promoting its goods and services to Hispanic females who are 18 to 34 years old. How is the business segmenting the market?
a) psychographics
b) demographics
c) behavioral
d) geographics

What is the overall reason that marketing strategies are designed and implemented?
a) Improving management techniques
b) Achieving planned goals
c) Changing the image of the business
d) Increasing business

Which market segment do customers in cold climates who need snow shovels and snow blowers represent?
a) Geographic
b) psychographic
c) behavioral
d) occupational

Which market segment do customers that prefer reasonably priced recreational activities that include a variety represent?
a) geographic
b) psychographic
c) behavioral
d) occupational

Highway 1 Restaurant allows customers the opportunity to enter drawings in order to win a birthday cake. Customers register by providing their contact information on a card. What does entering the drawings represent?
a) Tactic
b) strategy
c) goal
d) trend

Dennis has a great idea for a new type of tennis ball that, if produced, would be better than any ball currently on the market. He pitches his idea to a few investors. Which of the four Ps should these investors consider first?
a) place
b) promotion
c) product
d) price

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