Marketing exam

which of the following is often included in a marketing plans situation analysis?

a SWOT analysis chart

most people choose to buy a generic name brand vs. a name brand because

a generic brand costs less

which of the following is most likely to raise the price a business charges for its products:

a new law increases minimum wage

which of the following is essential to all marketing research?

accuracy

primary and secondary information are two main sources of data collection when conducting marketing research. examples of primary resources include

diaries, interviews, and surveys

producers who eliminate all middlemen in the channel are said to be using _____ distribution

direct

a marketing information management system can help businesses to

discover new markets

checking on delivery or supervising the installation of a product are activities involved in the __________ phase of the selling process

follow up

one economic factor relevant to starting a business in another country is

foreign exchange rate

there are many activities in marketing that are interrelated and similar in purpose. these activities are referred to as marketing

functions

one basic requirement of a marketing-information management system is that it should be able to

gather, access, and evaluate data

customers in cold climates who need warm clothes are an example of which of the following market segments:

geographic

corporate brands are important because they

help businesses stand out

which of the following is the correct sequence of steps in the development of new products

idea generation, product screening, concept testing, test marketing, commercialization

ABC inc. sells very expensive products that the average consumer cannot afford. which form of demographic segmentation would be the most appropriate to use when directing promotional efforts to the target market?

income

a company has promised that it will meet any competitor's advertised price. this kind of guarantee will benefit the business by

increasing profits for the business

which component of the marketing plan summarizes the environmental conditions that can affect a business's marketing activities:

situational analysis

a salesperson can discover customer needs during the sales process by

skillful questioning and careful listening

all of these are characteristics of a good brand name except

sounds like the rest of its direct competitors or similar to other brands

the way in which the promotional message is communicated should be

suited to the product

the strawberry crop was severely damaged by a late frost this year. The selling price of a quart of strawberries has been set 50¢ higher this year than last. Which of the following factors affected the price of strawberries:

supply and demand

why do some new companies set their selling prices as low as they can?

to get market share as fast as possible

which of the following is a reason for a business to add product items or lines to its product mix?

to satisfy customers' desire for variety

which of the following costs do businesses usually include in the price of their products:

transportation

products that are sold to the individual(s) who will make personal use of them are being sold for

ultimate consumption

a short channel of distribution will probably be used by a producer that

wants channel control

elyza usually buys the same brand of chocolate, but if her favorite brand isn't available, she'll try another brand. elyza demonstrates brand

preference

what elements of the marketing mix are being used when a business positions a product by using high price as a sign of quality?

price and promotion

which function of marketing determines how much gross profit a business will make in a good or service

pricing

the Thirst Quenchers beverage company is surveying prospective customers to determine demand for its newest soft drink. Thirst Quenchers is collecting __________ data.

primary

a salesperson who explains to a customer the features and benefits of cell phones in stock is demonstrating good

product knowledge

a business that sends discount coupons to potential customers is using the _______ function of marketing.

promotion

a benefit to the business of branding is that a successful brand

reinforces a positive company image

a characteristic of the growth stage of a products life cycle is

rising sales

the cost of promoting products are often

shared by channel members

which of the following components serves as a "snapshot" of the business's current marketing situation?

situation analysis

the process of creating a unique image and name for a product in order to attract and maintain customers is called

branding

which of the following is a consideration in the place element of marketing:

choosing distribution channels

a station across the street is offering gasoline for five cents cheaper per gallon. the other stations in the area decide to lower their prices as well. this is an example of _________ pricing.

competitive

channels of distribution are necessary for the sales of goods and services to ultimate

consumers

an important purpose of the sales talk as a step in the selling process is to

convince the customer of the product's benefits

a long-range benefit that a business may derive from promoting its company image is

customer loyalty

what. might happen if a business's customers feel that they are not getting the most value for their money?

customers spend money elsewhere

a marketer wants to find out more information about potential customers all of these are examples if unstructured data except

legal records

the benefits of branding include

loyalty

by offering mail-order services, telephone-order services, and delivery services, marketers are

making buying convenient

what marketing function helps marketers decide to whom to sell?

marketing information management

which of the following words describes an idea marketing objective?

measurable

businesses often prefer to buy goods that have been inspected and graded because they

meet specific standards

costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management?

new product development

which of the following is an example of a product line?

notebooks, scratch pads, and stationery

one of the main reasons for developing a marketing plan is to identify the strategies necessary to achieve the marketing

objectives