Unit 3 Review Question Preview (ID: 27595)


Unit 3 Review Principles Of Business And Finance. TEACHERS: click here for quick copy question ID numbers.

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) Business sources
b) Government agencies
c) Media
d) Product testing organization

John needed to purchase a soda as quick as possible. Which type of store would be the quickest to purchase a soda?
a) Convenience
b) Department
c) Factory outlet
d) Mail order

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) Make a purchase
c) Recognize a need or want
d) Select and evaluate alternatives

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) Business sources
b) Government agencies
c) Media
d) Product testing organization

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) Government agencies
c) Media
d) Product testing organization

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) Convenience
b) Department
c) Factory outlet
d) Mail order

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) Determine the effectiveness of the decision
b) Gather information
c) Recognize a need or want
d) Select and evaluate alternatives

Mary checks the label on all products she buys for warnings. This is an example of which type of consumer information source?
a) Business sources
b) Government agencies
c) Media
d) Product testing organization

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) Create a marketing mix
b) Create a target market
c) Identify a marketing mix
d) Identify a target market

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) Create a marketing mix
b) Create a target market
c) Identify a marketing mix
d) Identify a target market

Mary plans to order 300 cameras for her store inventory. Where is she in the consumer decision- making process?
a) Gather information
b) Make a purchase
c) Recognize a need or want
d) Select and evaluate alternatives

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) Gather information
b) Make a purchase
c) Recognize a need or want
d) Select and evaluate alternatives

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) Make a purchase
c) Recognize a need or want
d) Select and evaluate alternatives

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) $45.00
b) $179.55
c) $358.55
d) $578.55

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) Financing
c) Promotion
d) Selling

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) Distribution
b) Financing
c) Product management
d) Selling

Which is an example of direct channel of distribution?
a) Mary hired her mother to assist with her cupcake business.
b) Mary pays an advertising agency to promote her cupcake company.
c) Mary pays Tim to deliver cupcakes to customers.
d) Mary takes care of all the marketing functions for her cupcake company.

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) Financing
c) Marketing-information management
d) Selling

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) Distribution
b) Financing
c) Marketing-information management
d) Selling

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) Distribution
b) Financing
c) Pricing
d) Selling

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