Quiz: Marketing Final Exam Practice Questions! Trivia

22 Questions | Total Attempts: 708

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Marketing Quizzes & Trivia

Questions and Answers
  • 1. 
    Advertisements that focus on selling a product or service and which take three forms: (1) pioneering (or informational); (2) competitive (or persuasive); and (3) reminder are referred to as
    • A. 

      Product advertisements

    • B. 

      Service advertisements

    • C. 

      Persuasive advertisements

    • D. 

      Institutional advertisements

    • E. 

      Cooperative advertisements

  • 2. 
    The first decision in developing an advertising program is to 
    • A. 

      Set a budget

    • B. 

      State its mission

    • C. 

      Identify the target audience

    • D. 

      Select the appeal

    • E. 

      Select the media

  • 3. 
    The number of different people or households exposed to an advertisement is referred to as 
    • A. 

      Scope

    • B. 

      Share

    • C. 

      Reach

    • D. 

      CPM

    • E. 

      Rating

  • 4. 
    A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as 
    • A. 

      A widget

    • B. 

      A product

    • C. 

      A service

    • D. 

      An idea

    • E. 

      Merchandise

  • 5. 
    Convenience products refer to 
    • A. 

      Items that consumers will make special efforts to seek out and buy.

    • B. 

      Items for which consumers compare several alternatives on criteria such as price, quality, or style.

    • C. 

      Products consumers purchase frequently, conveniently, and with a minimum of shopping effort.

    • D. 

      Ancillary products used to make other products work more efficiently.

    • E. 

      Low-cost items for which there are numerous substitutes and generic equivalents.

  • 6. 
    In the new-product process, product ideas that survive the business analysis proceed to the _________ stage.
    • A. 

      Market testing

    • B. 

      Screening and evaluation

    • C. 

      Business analysis

    • D. 

      Development

    • E. 

      Commercialization

  • 7. 
    Test marketing involves offering a product for sale
    • A. 

      To random sample of people in the tope ten major cities of the U.S.

    • B. 

      In as broad of geographic region as possible.

    • C. 

      To consumers that are representative of the target market.

    • D. 

      On a limited basis in a defined area.

    • E. 

      Only on certain days of the week and hours of the day.

  • 8. 
    Xerox pioneered the first portable fax machine. In 1980, the price was $12,700. Xerox was using a(n) _________ strategy to help recover the cost of its research and development.
    • A. 

      Penetration pricing

    • B. 

      Cost-plus pricing

    • C. 

      Target ROI pricing

    • D. 

      Above-market pricing

    • E. 

      Skimming pricing

  • 9. 
    Proctor and Gamble repositioned its Old Spice antiperspirant brand from a deodorant your grandfather might use to a strong, hip antiperspirant through commercials that showed the target market of 18 to 30 year old men advocating its use and through a money-back guarantee. P&G used this repositioning strategy with its Old Spice brand antiperspirant to
    • A. 

      React to a competitor's position

    • B. 

      Reach a new market

    • C. 

      Catch a rising trend

    • D. 

      Change the value offered

    • E. 

      Diversify its product portfolio

  • 10. 
    When consumers consider all types of household cleaners, they are considering the ___________ of household cleaners. When consumers limit their choice of household cleaners to only those that come in spray bottles, they are considering a __________ of household cleaners.
    • A. 

      Product class; product brand

    • B. 

      Product group; product brand

    • C. 

      Product line; product mix

    • D. 

      Product mix; product line

    • E. 

      Product class; product form

  • 11. 
    The price equation formula is final price equals list price minus incentives and allowances plus
    • A. 

      Profits

    • B. 

      Commissions

    • C. 

      Trade-ins

    • D. 

      Extra fees

    • E. 

      Taxes

  • 12. 
    The ratio of perceived benefits to ___________ is referred to as value.
    • A. 

      Price

    • B. 

      Prestige

    • C. 

      Perceived quality

    • D. 

      Profits

    • E. 

      Perceived cost

  • 13. 
    Creative marketers engage in value-pricing, which is the practice of simultaneously increasing product and service benefits and
    • A. 

      Increasing costs

    • B. 

      Increasing price

    • C. 

      Advertising more

    • D. 

      Decreasing costs

    • E. 

      Mainting or decreasing price

  • 14. 
    The competitive market situation in which the few sellers are sensitive to one another's prices is referred to as
    • A. 

      Pure monopoly

    • B. 

      Oligopoly

    • C. 

      Monopolistic competition

    • D. 

      Pure competition

    • E. 

      Oligopolistic competition

  • 15. 
    Which of the following is a cost-oriented pricing method?
    • A. 

      Standar markup pricing

    • B. 

      Loss leader pricing

    • C. 

      At-, above-, or below-market pricing

    • D. 

      Price lining

    • E. 

      Penetration pricing

  • 16. 
    Using __________, many retailers deliberately sell products below their normal pries (and sometimes below cost) to attract attention and induce additional store traffic.
    • A. 

      Customary pricing

    • B. 

      Below-marketing pricing

    • C. 

      Loss-leader pricing

    • D. 

      Prestige pricing

    • E. 

      Penetration pricing

  • 17. 
    A flexible-price policy refers to
    • A. 

      Setting the price of a line or products at a number of different specific pricing points.

    • B. 

      Setting of prices for all items in a product line to cover the total cost and produce a profit for the complete line, not necessarily for each item.

    • C. 

      Setting different prices for products and services depending on individual buyers and purchase situations.

    • D. 

      Deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well.

    • E. 

      Adding a fixed percentage to the cost of all items in a specific product class.

  • 18. 
    Product-line pricing refers to
    • A. 

      Setting the price of a line of products at a number of different specific pricing points.

    • B. 

      Setting of prices for all items in a product line to cover the total cost and product a profit for the complete line, not necessarily for each of item.

    • C. 

      Deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well.

    • D. 

      Adding a fixed percentage to the costs of all items in a specific product class.

    • E. 

      The marketing of two or more products in a single package.

  • 19. 
    Intermediaries who perform a variety of distribution functions, including selling, maintaining inventories, extending credit, and so on are referred to as __________.
    • A. 

      Dealers

    • B. 

      Brokers

    • C. 

      Retailers

    • D. 

      Wholesalers

    • E. 

      Distributors

  • 20. 
    Creating product assortments from several sources to serve customers would be an example of a ___________ function.
    • A. 

      Transactional

    • B. 

      Logistical

    • C. 

      Facilitating

    • D. 

      Selling

    • E. 

      Risk taking

  • 21. 
    Mail order selling, catalog sales, and telemarketing, are all examples of
    • A. 

      Indirect channels

    • B. 

      Direct marketing channels

    • C. 

      Multi-marketing channels

    • D. 

      Personal selling

    • E. 

      Direct channels

  • 22. 
    Vertical conflict refers to conflict that occurs between
    • A. 

      Two members in the same level of a marketing channel

    • B. 

      Two different levels in a marketing channel

    • C. 

      Members of upper management who make the marketing channel decisions and lower management who must implement these decisions.

    • D. 

      A firm's and its customers' goals.

    • E. 

      Two products of the same product vying for the same distribution channel members.

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