Chapter 10 - Test Review Question Preview (ID: 34783)
Chapter 10 - Test Review.
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Product costs + operating expenses + profit =
a) markup
b) selling price
c) gross cost
d) markdown
Which of the following is a direct channel of distribution?
a) Custom Clothiers produces men’s suits, which are sold to customers at department stores all around the country.
b) Wally builds ten birdhouses and sells them to Taylor at a flea market; Taylor then sells the birdhouses to her neighbors at a
c) Farmer Jane grows tomatoes and sells them to customers at a roadside stand next to her farm.
d) Smoothy Silk ice cream is manufactured at its Minnesota factory and shipped to a grocery store in your town.
Which of the following scenarios will most likely result in comparatively low prices?
a) products are sold at a large warehouse store offering little personal service and located on the outskirts of town
b) a product is highly complex and technical
c) supply for a product is low and demand is high
d) a product has few close competitors because it is unique
Services are intangible. This means that
a) They have no physcal form
b) their availability must match their demand at a specific time.
c) They cost more than products
d) there will be differences in the type and quality of service provided.
Totally new products that have never been seen by customers are not often introduced.
a) True
b) False
c)
d)
Choosing target markets and studying their needs and decision-making processes can make promotion more effective.
a) True
b) False
c)
d)
Personal selling is usually done
a) on the Internet
b) by telephone
c) via advertising
d) face-to-face with each customer
After several new product ideas have been generated, companies will most likely
a) produce a limited quantity of each product and test them to see which are the most popular.
b) develop full marketing strategies for each of them.
c) evaluate the ideas to determine which have the best opportunity to succeed.
d) determine a production procedures for the products.
The first step in the consumer decision-making process is to
a) recognize a need
b) make a purchase decision
c) select and evaluate alternatives
d) gather information
This type of marketing research study gathers information from people using a carefully planned set of questions.
a) secondary research
b) experiment
c) observation
d) survey
Additions and improvements to a basic product are called
a) brand names
b) product features
c) guarantees
d) warranties
Which of the following would NOT generally be considered one of the marketing functions?
a) pricing
b) repairing
c) promotion
d) selling
Which marketing function involves communicating directly with potential customers to determine their needs?
a) financial analysis
b) pricing
c) product and service management
d) selling
Which of the following is a function of promotion?
a) advertising
b) budgeting for marketing activities
c) improving products
d) market research
What are the four elements of a marketing mix?
a) cost, location, time, and advertising
b) demographics, income, supply, and demand
c) product, distribution, price, and promotion
d) consumers, manufacturers, retailers, and distributors
Not all marketing is directed at consumers.
a) True
b) False
c)
d)
Services can be stored for later consumption.
a) True
b) False
c)
d)
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