POB Unit 3 Test Review Question Preview (ID: 49395)
Unit 3 Test Review.
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Most new products introduced by companies are not totally new, but are improvements on existing products.
a) True
b) False
c) n/a
d) n/a
The first step in marketing research is to develop a data collection procedure.
a) True
b) False
c) n/a
d) n/a
The marketing mix refers to the blending of the marketing elements
a) True
b) False
c) n/a
d) n/a
Finding solutions to problems through carefully designed studies involving consumers is referred to as effective communication.
a) True
b) False
c) n/a
d) n/a
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
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) 45.00
b) 139.50
c) 449.50
d) 549.50
Which is an EXAMPLE of personalized promotion?
a) Beck presented a seminar to 3000 people to promote hand-held computers.
b) Jade’s company posted flyers for guest to see about her detox program.
c) Mary test drove several SUV’s at the Infiniti dealership.
d) Whole Foods Company sponsored a health fair.
The best definition of marketing is:
a) Promotion and selling
b) Producing and distributing products and services to customers.
c) Finding customers and convincing them to buy your products.
d) None of the above is correct.
The two steps in a marketing strategy are:
a) Developing a product and promoting it to consumers.
b) Identifying a target market and developing a marketing mix.
c) Conducting marketing research and planning production.
d) Pricing a product and distributing it to customers.
Which of the following is an example of a rational buying motive?
a) love
b) economy
c) fear
d) self image
The availability of a service must match the demand for that service at a specific time because it is
a) heterogeneous
b) perishable
c) inseparable
d) intangible
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
When businesses specialize in producing a specific type of product, a channel of distribution will be needed to adjust differences in
a) timing
b) assortment
c) location
d) quantity
Which of the following is NOT a part of effective communication?
a) sender
b) receiver
c) advertisement
d) information
The most expensive but also most effective type of promotion is:
a) personal selling
b) advertising
c) publicity
d) public relations
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) Create a marketing mix
b) Create a target market
c) Identify a marketing mix
d) Identify a target market
Linda searched the Internet for reviews on a new cosmetic product. This is an example of which type of consumer information source?
a) Media
b) Product Testing Organization
c) Government Agencies
d) Business Sources
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) convenience
c) specialty retailer
d) mail order
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