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