Advertising Test #1 Review

Which of the following is NOT a pricing objective?

goal oriented

Which of the following is NOT something companies can do to maintain their product planning success?

hire new employees

Which of the following describes a product mix?

includes all products a company makes or sells

Which of the following is NOT a goal of pricing?

increasing business from competitors

Promotion is any form of communication a business or or organization uses to do which of the following?

inform, persuade or remind people about products or services

Brand Name

is a name, term or symbol used to identify related products

Promotion

is any form of communication a business or organization uses to inform, persuade or remind individuals about products or services

Public Relations

is composed of the methods and activities used to establish and promote a positive relationship with the public

Promotional Mix

is the term used to describe the set of tools a business utilizes to effectively communicate the benefits of products or services to customers

Which of the following is a step in the product life cycle?

market maturity

Flexible-Price Policy

method of selling where the prices are open to negotiations between buyers and sellers, and allow for bargaining within a certain range

Which of the following tools is NOT part of the promotional mix?

product design

Which of the following is one of the seven steps in the product development process?

product testing

Which of the following is NOT a type of product deision which should be considered during the product planning phase?

profitability

Promotion allows businesses to improve which of the following?

public image

Product Design

refers to the way a product works or looks; can help to sell a product based on specific features.

Target Return Objective

sets a profit at a specific level often a percentage of sales or capital investment are interpreted differently

Which of the following is a true statement about profit oriented objectives?

sets out to make as much profit as possible

Status quo-oriented objectives can help with which of the following?

stabilizing prices

The promotional mix is the set of tools a business utilizes to effectively communicate which of the following to customers?

the benefits of products or services

If customers are not aware of a company's products and services, which of the following will occur?

the business will not survive

Which of the following describes product width?

the number of product lines a company offers to its customers

Which of the following describes a pure service?

Does not include a tangible product; are the primary "product" of a business

What is a product line?

a group of related items or brands sold by the same company

One-Price Policy

a price strategy in which the same price is offered to every customer who purchase the product under the same conditions.

What is a test market?

a small-scale introduction of a product to a specific area

When screening product ideas, companies should NOT evaluate their ideas bases on which of the following criteria?

advertising cost

Goods

are the physical items available for customers

Which of the following advertising strategies is used inn the product maturity stage?

build brand loyalty

Services

cannot be touched or tasted, are performed as an "action" maybe categorized as either "pure" or "product related"