Marketing & Professional Sales Unit 3 Test Review

In order to make decisions related to the marketing mix, the business must first identify its: Select one: a. Target Market b. Price c. Distribution Method d. Advertising Strategies

a. Target Market

ABC Clothing's customers are young, trendy, and affluent. This is a description of the business's: Select one: a. Industry b. Pricing Strategy c. Target Market d. Revenue Streams

c. Target Market

Which of the following is an example of a B2B sale? Select one: a. A restaurant purchasing a new security system. b. An office supplies store selling products to a student. c. A clothing store selling clothes to an individual. d. An individual purchasing Internet for their home.

a. A restaurant purchasing a new security system.

Segmentation based on benefits a product offers and how the customer uses the product. Select one: a. Behavioral Variables b. Psychographics c. Demographics d. Geographics

a. Behavioral Variables

Operating in the ________ market means selling within one's own country. Select one: a. Domestic b. International c. Global d. Local

a. Domestic

The _______ refers to the group of existing and potential customers who demand a product or service. Select one: a. Market b. Slice c. Prospect d. Demographic

a. Market

This is concerned with determining a target market, its size, location, and segmentation within the market. Select one: a. Market Research b. Promotion c. Mass Marketing d. Media Planning

a. Market Research

The coordination of business activities to provide goods and services to meet the needs and wants of customers is known as: Select one: a. Marketing b. Business c. Advertising d. Promotion

a. Marketing

When developing a new ice cream flavor, the company decides to create a coffee-inspired ice cream to be sold in pint-sized packages, using dairy-free ingredients. These are all decisions regarding: Select one: a. Product b. Place c. Promotion d. Price

a. Product

At the core of this philosophy, businesses believe customers are more likely to be loyal if there are more product options available or more benefits from the product. Select one: a. Product Concept b. Marketing Concept c. Selling Concept d. Production Concept

a. Product Concept

Al's Auto Sales puts an emphasis on high sales volumes and regularly encourages his salespeople to reach their sales goals. Al's frequently runs sales promotions in order to boost sales revenues. What business philosophy is Al's following? Select one: a. Selling Concept b. Production Concept c. Societal Marketing Concept d. Marketing Concept

a. Selling Concept

Decisions regarding product features, price, sales locations, and promotion are decided based off the wants and needs of the: Select one: a. Target Market b. Shareholders c. Employees d. Competition

a. Target Market

Which of the following questions should a business answer about its target market? Select one: a. Where are our customers shopping? b. What should be the profit margin of our product? c. Which distribution method are we using? d. What quality of ingredients should we use for our product?

a. Where are out customers shopping?

The business-to-business market may also be known as: Select one: a. Industrial b. All of these c. Commercial d. Organizational

b. All of these

What might a company do to improve its market share? Select one: a. Add innovative features b. All of these c. Release a new, interesting product d. Provide various purchasing options for consumers

b. All of these

A running shoe company segments customers based on how often the customers use their shoes. This is segmentation based on: Select one: a. Psychographics b. Behavioral Variables c. Geographics d. Demographics

b. Behavioral Variables

Marketing helps boost an economy by fostering __________ among businesses. Select one: a. Promotions b. Competition c. Demand d. Sales

b. Competition

Age, gender, ethnic background, and education are examples of: Select one: a. Behavioral Variables b. Demographics c. Psychographics d. Geographics

b. Demographics

Using the selling concept, a business achieves its goals through: Select one: a. Improving product quality b. Heavy selling and promotion c. Specialization of labor and efficiency d. Integrated marketing

b. Heaving selling and promotion

Marketing decisions may need to change when a company decides to expand and sell goods in a(n) __________ market. Select one: a. Domestic b. International c. Local d. Internal

b. International

This basis of this business philosophy is: Success is a result of meeting the needs and wants of customers. Select one: a. Selling Concept b. Marketing Concept c. Segmentation Process d. Marketing Mix

b. Marketing Concept

The identification of a target market with all decisions about the marketing mix focusing on that market is the definition of which of the following? Select one: a. Marketing Mix b. Marketing Strategy c. Business Plan d. Selling Concept

b. Marketing Strategy

This marketing strategy is used to appeal to the largest portion of the market. Select one: a. Market Segmentation b. Mass Marketing c. Online Marketing d. Niche Marketing

b. Mass Marketing

_______ marketing is defined as concentrating marketing efforts on a small, specific, well-defined segment of the market. Select one: a. Societal b. Niche c. Traditional d. Mass

b. Niche

This past philosophy of doing business believed consumers only preferred products that were widely available and inexpensive: Select one: a. Product Concept b. Production Concept c. Marketing Concept d. Selling Concept

b. Production Concept

Advertising, direct marketing, and personal selling are all elements of: Select one: a. Product b. Promotion c. Price d. Place

b. Promotion

Lifestyle, attitudes, and interests of individuals are examples of: Select one: a. Behavioral Variables b. Psychographics c. Demographics d. Geographics

b. Psychographics

ABC Restaurant announced it would stop using plastic straws in its restaurants because straws are damaging to the environment. This decision is a reflection of the: Select one: a. Product Concept b. Societal Marketing Concept c. Selling Concept d. Production Concept

b. Societal Marketing Concept

The _________ is the group of customers a company wants to sell its products to and to whom it directs marketing efforts. Select one: a. Consumer Market b. Target Market c. Population d. Niche

b. Target Market

Marketing adds value to products, which is also known as adding: Select one: a. Cost b. Demand c. Utility d. Features

c. Utility

Which of the following is not among the primary areas of decision-making for a marketer? Select one: a. Distribution b. Promotion c. Accounting d. Pricing

c. Accounting

Which of the following is an example of a B2C sale? Select one: a. An individual purchasing a new printer for their home business. b. An office purchasing a new printer. c. An individual purchasing a new cell phone. d. A company purchasing CRM software.

c. An individual purchasing a new cell phone.

Businesses implement market segmentation strategies in order to: Select one: a. Boost sales volumes. b. Gain maximum exposure. c. Concentrate marketing efforts. d. Reach as many consumers as possible.

c. Concentrate marketing efforts.

A ___________ is an end user of a product, but not necessarily the purchaser. Select one: a. Business b. Market c. Consumer d. Customer

c. Consumer

A business is likely to market goods _________ first because laws, geography, and distribution methods are familiar. Select one: a. Globally b. Abroad c. Domestically d. Internationally

c. Domestically

With the marketing concept, the business is focused on satisfying the customer while also: Select one: a. Improving sales activities b. Focusing on production c. Earning a profit d. Stressing the needs of the seller

c. Earning a profit

ABC Grocers is a national retail grocery chain with stores only in cities with a population of 250,000 or more. This grocery store is using what type of market segmentation? Select one: a. Demographic b. Psychographic c. Geographic d. Behavioral

c. Geographic

Mass marketing is most effective when used to advertise: Select one: a. Niche products b. Luxury items c. Necessities d. Prestige products

c. Necessities

Laura owns a small clothing boutique in a retail shopping mall. She is trying to decide if offering her trendy clothing online, as well as in-store, is a good option. Which of the 4 P's is Laura contemplating? Select one: a. Promotion b. Price c. Place d. Product

c. Place

Which business philosophy focuses on sales goals and profits, rather than customer wants and needs? Select one: a. Marketing Concept b. Product Concept c. Selling Concept d. Production Concept

c. Selling Concept

A business implementing the marketing concept will be focused on the wants and needs of the: Select one: a. Production Staff b. Salespeople c. Target Market d. Shareholders

c. Target Market

Traditionally, what media is used for mass marketing tactics in order to gain maximum exposure for a product? Select one: a. Radio b. Print c. Television d. All of these

d. All of these

Marketing creates a competitive environment, which increases demand and: Select one: a. Lowers demand b. Hinders economic growth c. Raises prices d. Keeps prices low

d. Keeps prices low

This term refers to subdividing a market based on similarities. Select one: a. Stereotyping b. Selling c. Mass Marketing d. Market Segmentation

d. Market Segmentation

The percentage of total sales earned by a company in a particular industry or product category is defined as: Select one: a. Market Demand b. Market Price c. Target Market d. Market Share

d. Market Share

This element of the marketing mix includes decisions about distribution and where the product is sold. Select one: a. Promotion b. Product c. Price d. Place

d. Place

_______ is simply the monetary value assigned to a product or service. Select one: a. Cost b. Value c. Quality d. Price

d. Price

When a local apparel store sells products that are designed specifically for health-enthusiasts, it is using what type of segmentation? Select one: a. Demographic b. Location-Based c. Geographic d. Psychographic

d. Psychographic

What ice cream treat seems the best option for the following target market: Young couples with children who want a tasty treat and need it at a great price. Select one: a. Matcha Green Tea b. Coffee Caramel made with Almond Milk c. Mango-Guava Sorbet d. Vanilla Chocolate Swirl

d. Vanilla Chocolate Swirl

Which of the following questions should be asked when considering the Price element of the marketing mix? Select one: a. Where does the target market shop? b. What media should be used to reach consumers? c. What features should our product have? d. What is the demand for the product?

d. What is the demand for the product?