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Quiz 3

25 Questions
Quiz 3

Quiz 3-Marketing. You have 60 minutes to take this Quiz. (Chapter 11,13,14,15,16). 2 Points per question.

Questions and Answers
  • 1. 
    New products are important to sustain growth, increase revenues and profits, and to replace obsolete items.  Companies are faced with pressure to innovate more—and more quickly. 
    • A. 

      True

    • B. 

      False

  • 2. 
    _____ occurs when an existing product is targeted toward new market segments. It is another type of new-product development because the product is new to that segment.
    • A. 

      Brainstorming

    • B. 

      Diffusing

    • C. 

      Repositioning

  • 3. 
    The first stage of the new-product development process is:
    • A. 

      Screening and concept testing

    • B. 

      Establishing the new-product strategy

    • C. 

      Exploring opportunities

  • 4. 
    A new-product strategy:
    • A. 

      Links the new-product development process with the objectives of the marketing department, the business unit, and the corporation.

    • B. 

      Specifies the roles new products play in the organization's overall plans

    • C. 

      Is accurately described by all of these

  • 5. 
    Which of the following is the LEAST likely source for new-product ideas?
    • A. 

      Its financial lenders

    • B. 

      Its competitors

    • C. 

      A company’s distributors

  • 6. 
    Retailing can be defined as all activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use.
    • A. 

      True

    • B. 

      False

  • 7. 
    A typical discount store competes by carrying a limited line of high-turnover, high-margin goods.
    • A. 

      True

    • B. 

      False

  • 8. 
    Factory outlet stores are generally the same as warehouse clubs, except that a factory outlet store carries only the merchandise of the manufacturer that owns it.
    • A. 

      True

    • B. 

      False

  • 9. 
    The two types of franchising are target market franchising and geographic franchising.
    • A. 

      True

    • B. 

      False

  • 10. 
    Color can be used by retailers to create a mood or focus customer attention on a particular product.
    • A. 

      True

    • B. 

      False

  • 11. 
    Promotion is communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence their opinion or elicit a response.
    • A. 

      True

    • B. 

      False

  • 12. 
    The elements of the promotional mix include advertising, sales promotion, personal selling, and competitive advantage.
    • A. 

      True

    • B. 

      False

  • 13. 
    Promotion is the process by which we exchange or share meanings through a common set of symbols.
    • A. 

      True

    • B. 

      False

  • 14. 
    When a marketer sends a message to the target market, the marketer must first decode the symbols used.
    • A. 

      True

    • B. 

      False

  • 15. 
    Even though a message is received, it will not necessarily be properly decoded; receivers interpret messages based on their own frames of reference.
    • A. 

      True

    • B. 

      False

  • 16. 
    Publicity consists of programs developed by a company to capitalize on the factors that will enhance the firm's image and minimize those that generate negative images.
    • A. 

      True

    • B. 

      False

  • 17. 
    Sales promotion offers an incentive to buy.
    • A. 

      True

    • B. 

      False

  • 18. 
    Immediate purchase is usually the goal of sales promotion.
    • A. 

      True

    • B. 

      False

  • 19. 
    Coupon distribution by packaged-goods manufacturers has been increasing in recent years.
    • A. 

      True

    • B. 

      False

  • 20. 
    Contests generally draw more entries than sweepstakes do.
    • A. 

      True

    • B. 

      False

  • 21. 
    Price is defined as the perceived value of a good or service that is exchanged for a certain dollar amount.
    • A. 

      True

    • B. 

      False

  • 22. 
    Profit is equal to the price charged to customers multiplied by the number of units sold.
    • A. 

      True

    • B. 

      False

  • 23. 
    Today's firms must develop specific, measurable, and attainable pricing objectives if they hope to survive in highly competitive markets.
    • A. 

      True

    • B. 

      False

  • 24. 
    Target return on investment (ROI) is the most common profit objective used by firms.
    • A. 

      True

    • B. 

      False

  • 25. 
    Sales-oriented pricing objectives are either based on market share or dollar or unit sales.
    • A. 

      True

    • B. 

      False

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