Marketing Exam Review Part 6 Question Preview (ID: 42280)
Final Exam Review.
TEACHERS: click here for quick copy question ID numbers.
Businesses engage in which of the following activities to gain information about the competition?
a) purchase and analyze competitor's products
b) study customers and customer records
c) collect and study newspaper and magazine articles
d) All of these choices are correct
A restaurant that advertises an all-you-can-eat dinner buffet for $3.95 is probably engaging in
a) price competition
b) attribute competition
c) market competition
d) direct competition
Which of the following is not a benefit of competition?
a) The consumer receives the best price for the product.
b) It encourages product improvement and innovation.
c) It guarantees low employment rates and low inflation rates.
d) It offers consumers a wide choice of products and services.
Which of the following is an example of indirect competition?
a) McDonald's vs Burger King
b) Holiday Inn vs. Ramada Inn
c) Blockbuster Video vs Showcase Movie Cinema
d) Nike vs Reebok
If a camera manufacturer markets its cameras a taking sharper, clearer pictures than competing models, how is it positioning its product?
a) by product user
b) by attribute
c) by use or application
d) by price
Which of the following is the last step in identifying potential market segment?
a) Choose a basis for segmenting the market.
b) Identify the segments that exist in the market.
c) Gather information for analysis
d) Use market information to choose the markets that present the greatest and least amount of potential.
People's interests and values are referred to as
a) geographic segmentation
b) market segmentation
c) demographics
d) psychographics
Market segments should be evaluated on all of the following characteristics except
a) amount of money customers have available to make the purchase.
b) employees desire to serve potential customers.
c) customers' interest in the product or service.
d) number of potential customers.
This approach directs a company's marketing at a large and heterogeneous group of consumers.
a) telemarketing
b) mass marketing
c) buzz marketing
d) market segmentation
An exhibition where companies associated with an industry gather to showcase their products is called
a) trade show
b) target market
c) job fair
d) flea market
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