Anirudh's Intro to Marketing Exam #1

78. PetFast pet store is known for its low prices and great value. The store frequently advertises its weekly sales, during which customers can get bulk pet foods for discounted prices. This is an example of corporate A. strategizing. B. positioning. C. price fixing. D. modeling.

A

78. An insurance company offers customers a discount when they purchase both a homeowners policy and an automobile policy. The deal benefits customers by providing them with two needed products for less; it benefits the company by bringing in more customers and encouraging more sales. This is an example of A. product awareness. B. product bundling. C. channel management. D. sales volume analysis.

B

The total number of members in a channel is called A. distribution pattern. B. channel width. C. channel length. D. distribution intensity.

C

60. Why do businesses want to meet quality standards? A. To determine how much work must be done B. To reduce costs C. To decrease profit D. To examine how long it takes to get a job done

B

78. Which of the following is the type of branding that differentiates an organization from its competitors: A. Loyalty B. Corporate C. Universal D. Product

B

60. Which of the following is a way that businesses can include consumer protection as part of product/service management: A. Precise marketing B. Discount pricing C. Accurate labeling D. Creative selling

C

42. What should researchers consider when evaluating the design of questionnaires? A. Size of paper B. Number of participants C. Names of developers D. Types of questions

D

58 Akua is in charge of supervising the entire process of getting products into the marketplace, otherwise known as the flow of goods. Akua's job title is most likely A. supply chain manager. B. chief financial officer. C. line supervisor. D. inventory manager.

A

60. Which of the following is a decision a company might make during the decline stage of the product life cycle: A. Whether to change the product B. How to fend off the competition C. How to increase awareness of the product D. What production schedule to follow

A

85. In what stage of a product's life cycle would a company spend the least amount of money on promoting the product? A. Declining B. Maturity C. Introductory D. Growth

A

98. Ryan goes to the grocery store every week and buys food to feed his family. Ryan's purchases are most likely driven by which need in Maslow's hierarchy of needs? A. Physiological B. Self-actualization C. Safety D. Belonging

A

What might result if a manufacturer begins to sell directly to large businesses rather than through traditional wholesalers? A. Vertical channel conflict B. Reverse distribution C. Exclusive distribution D. Horizontal channel conflict

A

31. Businesses that deliberately interpret marketing information inaccurately and present those findings to consumers may be guilty of using that information in an unethical way to A. analyze opinions. B. promote products. C. solve problems. D. develop surveys.

B

6. A foreign business legally obtains a license to make. products, and then sells the items for low prices to businesses in the country where the license originated. This is an example of A. equitable competition. B. the gray market. C. a strategic alliance. D. social responsibility.

B

6. What type of business policy is most likely to attract customers to the business? A. Delivery B. Product C. Credit D. Return

B

6. Which of the following is a belief you should have about your own behavior if you want to be assertive: A. Passive behavior is a good response to aggression. B. You have the right to choose the way you respond to your circumstances. C. You have the right to be aggressive in some circumstances. D. Circumstances determine the way you should behave.

B

60. A company starts marketing its workout clothes as everyday wear. This is an example of innovation. A. process B. positioning C. product D. paradigm

B

What information should a business provide its suppliers to ensure that products will be available to meet demand? A. Cash flow analysis B. Annual report C. Sales forecast D. Media schedule

C

1. Walter's Waterland Amusement Park mailed discount coupons to all the people who moved into the area during the past year. The company has targeted a market based on A. demographics. B. geographics. C. economics. D. psychographics.

D

42. Which of the following would probably use a longer channel of distribution than the others: A. A printing press B. A bag of oranges C. An airplane D. A bottle of shampoo

D

5 When a big manufacturer holds a large share of the market, and it prohibits all of its dealers from carrying its competitors' products, the manufacturer is engaging in an illegal activity called A. tying agreements. B. selective distribution. C. channel control. D. exclusive dealing.

D

58 Effective collaboration between supply chain partners will most likely result in A. lower employee turnover. B. longer lead times. C. higher inventory levels. D. lower warehousing costs.

D

6. Which of the following is a reason why someone might have trouble adapting to new circumstances: A. Missed opportunities B. Objectivity C. Empathy D. Contentment

D

78. To gain a competitive advantage, a business carefully selects channel members and trains them to provide customers with superior expertise and service. This business is positioning its products by focusing on A. quality at an exceptional value. B. product attributes. C. customization. D. channel differentiation.

D

84 A business informing customers about the new, free services being offered is an example of promotion. A. public service B. product C. public relations D. patronage

D

85. In a free-enterprise economic system, promotional practices are often subject to regulation by governmental systems, consumer groups, and organizations. A. competitive B. liability C. nonprofit D. industry

D

85. Which of the following is an example of a pull sales promotion strategy. A. A sales incentive program B. A slotting allowance C. A booth at a trade show D. A buy one, get one free deal

D

85. Which of the following is the most efficient, cost-effective way for a business to promote goods and services to customers who want to receive product information: A. Direct mail B. Spam email C. Indirect mail D. Opt-in email

D

What is likely to happen if a company has sunk costs associated with a poor decision? A. Employees will start seeking other employment. B. Employees' ethical practices will diminish over time. C. The company will forgo short-term benefits for long-term rewards. D. The company will look for proof to justify its decision.

D

Walter's Waterland Amusement Park mailed discount coupons to all the people who moved into the area during the past year. The company has targeted a market based on

Geographics