Fundamentals of Marketing Quiz for BUSN 101 Students

M05 Quiz busn 101 Which of the following occurs between similar products and is based on buyers' perceptions of the benefits of products offered by particular companies? A. International competition B. Brand competition C. Placement competition D. Substitute competition E. Benefit competition Marketing managers often support the activities of political action committees (PACs). In doing this, which environment are they attempting to influence? A. Technological B. Economic C. Political-legal D. Competitive E. Geo-demographic The _______ of a product refers to its comparative benefits versus costs. A. value B. utility C. geo-demographic variables D. pricing E. brand loyalty Which of the following represents a feature or image that makes one product different from its competitors? A. Marketing strategy B. Product positioning C. Product differentiation D. Place distribution E. Personal selling

What is the term for the communication efforts that are designed to build goodwill and build favorable attitudes in consumers? A. Public relations B. Advertising C. Promotion D. Sales promotion E. Personal selling Once marketing managers have a basic understanding of their role and the nature of their competition, their next step is to develop their _______. A. pricing B. marketing plan C. distribution D. sales promotion E. data warehouse Which is usually the first step in the marketing strategy that allows marketers to focus efforts on a particular group of people or organizations? A. Distribution B. Target market selection C. Pricing D. Product differentiation E. Integration What process is used by marketers to communicate the nature of a product to a target segment? A. Possession utility B. Promotion C. Personal influence D. Product positioning E. Product differentiation

When gathering opinions about consumer decisions, what type of research tool could be utilized online, by telephone, or face-to-face? A. Focus groups B. Secondary research C. Observation D. Experimentation E. Surveys Which of the following is the first step in the marketing research process? A. Select a research method. B. Prepare the report. C. Study the current situation. D. Collect the data. E. Analyze the data. Which is the term that describes what happens after the sale to ensure consumers buy the product again? A. Evoked set B. Postpurchase evaluation C. Rational motives D. Prepurchase evaluation E. Emotional motives The major influences on consumer behavior include all the following EXCEPT _______. A. psychological B. personal C. experimental D. social E. cultural

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Before products reach consumers, which market, consisting of wholesalers and retailers, do products pass through? A. Reseller markets B. Institutional markets C. Government markets D. Services markets E. Industrial markets _______ is a form of marketing that focuses on spreading information and opinions about a product or service from person to person, often through e-mail or social media sites. Question content area bottom Part 1 A. Viral marketing B. Relationship marketing C. Target marketing D. Integrated marketing E. Customer relationship management In which area can a small business create an advantage over larger competitors? A. Price B. Response time C. Marketing D. Value E. Shipping costs Which of the following describes the bundle of benefits and features associated with a product called? A. Specialty package B. Product mix C. Service mix D. Value package

E. Convenience When a consumer knows what they want to buy and is not willing to accept a substitute, which type of consumer product is being sought? A. Specialty goods B. Convenience goods C. Shopping goods D. Production goods E. Expense goods Which of the following are purchased by an organization to be consumed within a year? A. Disposable items B. Expense items C. Capital items D. Production items E. Maintenance items Dreamy Designs has a variety of products available, including decorative items, lighting, furniture, window treatments, and carpet. This is Dreamy Design's ________. A. packaging B. product extension C. product mix D. brand awareness E. private brand During what step of the product development stage does the firm consider how well a product or idea supports the firm's objectives? A. Prototype development B. Product idea C. Concept testing D. Screening E. Benefits analysis

Before commercialization of a product, an organization has to determine if the product can meet minimum profitability goals. During which step of the development process is this determined? A. Test marketing B. Business analysis C. Prototype development D. Screening E. Concept testing Before commercialization of a product, an organization has to determine if the product can meet minimum profitability goals. During which step of the development process is this determined? A. Test marketing B. Business analysis C. Prototype development D. Screening E. Concept testing Which of the following is the first step in the product development process? A. Generation of product ideas B. Business analysis C. Prototype development D. Product testing and test marketing E. Product screening During the product life cycle, when does sales growth peak, and earn its highest profit level? A. Maturity B. Growth C. Promotion D. Decline E. Introduction

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Which of the following indicates a firm sold the rights to put their name on a product not produced by them? A. Licensed brands B. Asset brands C. Private labels D. National brands E. Private brands Which of the following is the extent to which a brand name comes to mind when a consumer considers a particular product category? A. Product adaptation B. Reintroduction C. Brand awareness D. Product placement E. Growth In which stage of the product life cycle should marketers focus advertising and promotion on consumer awareness? A. Introduction B. Decline C. Commercialization D. Growth E. Maturity Which of the following terms refers to the monetary amount added to a product's cost to the seller in order to sell it at a profit? A. Revenue margin B. Profit margin C. Markup D. Breakeven cost E. Revenue

The salary of a supervisor in the shipping department would be a(n) _______ cost for a bicycle manufacturer, whereas shipping costs would be a(n) ______ cost. A. variable; fixed B. capital; variable C. fixed; variable D. production; expense E. expense; capital Which of the following pricing strategies has stimulation of sales as a higher priority than maximization of profits? A. Penetration pricing B. Price fixing C. Price pointing D. Price lining E. Price skimming Which of the following helps producers distribute goods from sellers to customers? A. Sales agents B. Intermediaries C. Retailers D. Direct wholesalers E. Brokers Which component of the distribution mix do agents and brokers represent in exchange for receiving commissions? A. Producers B. Other intermediaries C. Consumers D. Retailers E. Industrial users

The path a product follows from product to end user is referred to as A. interactivity. B. physical distribution. C. retail distribution. D. a distribution channel. E. product-line retailing. What is the combination of distribution channels by which a firm gets products to end users? A. Wholesalers B. Distribution mix C. Intermediaries D. Retailers E. Online auctions Which type of firm helps online consumers gather and sort information about products and helps in the sale of the products by presenting the information in an easy to understand format? A. Business-to-business brokers B. Channel captains C. Drop shippers D. Syndicated sellers E. Shopping agents The _______ is a channel member who is most powerful in determining the roles and rewards of other members. A. drop shipper B. channel captain C. business-to-business broker D. syndicated seller E. shopping agent (e-agent)

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A(n) _______ refers to an individual or firm that helps to distribute a product. A. producer B. intermediary C. end-user D. distribution channel E. retailer Which of the following describes the function of search engines that act as collections of business websites representing diverse products? A. Internet service providers B. E-catalogs C. Electronic storefronts D. Cybermalls E. Interactive retailing Which of the following is a form of direct-response retailing? A. Mail order B. Wholesale clubs C. Online D. Department stores E. Promotion Which of the following retailers would focus on selling a full product line in a relatively narrow product range, such as men's or women's clothing, office supplies, or carpet? A. Bargain retailer B. Department store C. Convenience store D. Wholesale club E. Specialty store

Which of the following terms refers specifically to the activities needed to move products efficiently from manufacturer to consumer? A. Physical distribution B. Retailing C. Promotion and positioning D. Brokering E. Product placement what would be the BEST way to transport shipments of fresh fish across the country? A. Water B. Air C. Pipelines D. Railroad E. Trucks The process of developing and establishing an easily identifiable product image and the nature of the product in the minds of consumers is done through what process? A. Positioning B. Communication mix C. Pull strategy D. Promotion E. Push strategy Which of the following is a paid, nonpersonal way that companies use to tell potential customers about their products? A. Sales promotion B. Public relations C. Direct marketing D. Advertising E. Publicity

A firm that wanted to conduct a short-term activity in order to boost consumer buying would use which of the following strategies? A. Missionary selling B. Special offers C. Trade shows D. Point-of-sale displays E. Sales promotions

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M05 Quiz

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