Marketing I Vocab Quiz

2.

State Farm paid $10,000 for Hough's A Hall to be called "Discount Chamber A". In this scenario, State Farm is sponsoring the hallway.

True
False

Correct Answer

A. True

Explanation

State Farm paid $10,000 to have Hough's A Hall named "Discount Chamber A," indicating that they are sponsoring the hallway. This suggests that the statement "State Farm is sponsoring the hallway" is true.

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3.

An environment where goods and services are transferred from the producer to the consumer without real interference, is known as a__________

Command economy
Nonpartisan economy
Free market economy
Enterprise

Correct Answer

A. Free market economy

Explanation

A free market economy is an environment where goods and services are transferred from the producer to the consumer without real interference. In this type of economy, prices are determined by supply and demand, and individuals and businesses are free to make their own economic decisions. There is minimal government intervention or regulation, allowing for competition and individual freedom in the marketplace.

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4.

_________products are easily used up and need to be replaced

Correct Answer
consumable
Consumable

5.

Becca sees Pringle's chips for $4. But she sees a local chip company's product for only $1.50. The difference in price, due to the added value people give Pringles chips due to it's brand, would be called it's what?

Brand promise
Brand Equity
Brand Choice
Brand relevance

Correct Answer

A. Brand Equity

Explanation

The correct answer is Brand Equity. Brand equity refers to the value that a brand has in the eyes of consumers, which can be influenced by factors such as brand reputation, customer loyalty, and perceived quality. In this scenario, the higher price of Pringle's chips compared to the local chip company's product suggests that Pringle's has built a strong brand equity, as people are willing to pay more for their chips due to the added value they associate with the Pringle's brand.

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6.

When Emilie saw a t-shirt that said "Just Do it", she immediately thought of Nike. The slogan could also be called a______

Brand cue
Brand message
Brand survey
Brand care

Correct Answer

A. Brand cue

Explanation

The correct answer is "Brand cue". Emilie's immediate association of the slogan "Just Do it" with Nike suggests that the slogan acts as a cue or trigger for the Nike brand in her mind. A brand cue is a stimulus that elicits a specific brand or product in the consumer's mind, helping to create brand recognition and association.

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7.

Opportunities a brand has to interact with the consumer, before, during or after a transaction is called a touchpoint.

True
False

Correct Answer

A. True

Explanation

A touchpoint refers to any point of interaction between a brand and a consumer, whether it is before, during, or after a transaction. These touchpoints provide opportunities for the brand to engage with the consumer and create a positive experience. By utilizing various touchpoints, such as advertising, social media, customer service, and post-purchase follow-ups, brands can build relationships and enhance customer satisfaction. Therefore, the given statement that opportunities a brand has to interact with the consumer are called touchpoints is true.

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8.

What is the graphic mark or symbol or wordmark that a company can be identified?

Correct Answer
a logo
logo
Logo

Explanation
A logo is a graphic mark, symbol, or wordmark that a company uses to identify itself. It is a visual representation of a company's brand and is designed to be easily recognizable and memorable. A logo helps to establish a company's identity and differentiate it from its competitors. It is often used on products, marketing materials, and websites to create a cohesive and professional look for the brand.

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9.

The commitment to deliver made between the buyer and seller that the product will perform as expected is known as the__________

Brand gift
Brand delivery
Both A and B
Brand promise

Correct Answer

A. Brand promise

Explanation

The commitment to deliver made between the buyer and seller that the product will perform as expected is known as the brand promise. This refers to the assurance given by the brand to its customers that their product will meet their expectations and deliver the desired results. It is a pledge made by the brand to provide quality and satisfaction to the customers, building trust and loyalty in the process.

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10.

Selena goes to the craft store to select a photo album to fill with pictures of herself when she was younger. Which of the following interactions are touchpoints?

Selena sees a poster that says "photo albums 10% off"
An employee re-stocks a shelf with craft paper
Selena is offered a discount the next time she visits the store
Selena bumps into the cash register, and the cashier asks if she's okay

Correct Answer(s)

A. Selena sees a poster that says "photo albums 10% off"
A. Selena is offered a discount the next time she visits the store

Explanation

The interactions that are touchpoints in this scenario are when Selena sees a poster that says "photo albums 10% off" and when Selena is offered a discount the next time she visits the store. These interactions are touchpoints because they directly involve Selena and have the potential to influence her decision-making process or overall experience with the craft store. The other interactions mentioned, such as an employee restocking a shelf and Selena bumping into the cash register, may be part of the overall in-store experience but do not directly impact Selena's decision-making or future interactions with the store.

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11.

Logan went out to buy a lacrosse helmet. Because it is understood that the helmet is supposed to protect his head, if the helmet falls apart the moment he puts it on, the manufacturer violated what kind of warranty?

Necessary
Implied
Explicit
Expressed

Correct Answer

A. Implied

Explanation

The correct answer is implied. This is because the question states that it is understood that the helmet is supposed to protect Logan's head. This implies that the manufacturer has an obligation to provide a helmet that functions properly and does not fall apart. Therefore, if the helmet falls apart, it violates the implied warranty that it should be functional and durable.

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12.

Select all the following trademark characters.

Tony the Tiger
Keebler Elves
Chips Ahoy
Snap, Crackle and Pop
Red Robin, Yummm
Count Chocula
Pillsbury Doughboy

Correct Answer(s)

A. Tony the Tiger
A. Keebler Elves
A. Snap, Crackle and Pop
A. Count Chocula
A. Pillsbury Doughboy

Explanation

The correct answer is Tony the Tiger, Keebler Elves, Snap, Crackle and Pop, Count Chocula, and Pillsbury Doughboy. These characters are all trademarked characters associated with popular food brands. They are used in advertising and are recognizable to consumers.

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13.

A category of pricing objectives that focus on increasing total amount of income from sales is known as what?

Revenue-oriented pricing
Sales-oriented pricing
Cost-based pricing
None of the above
Both A and B

Correct Answer

A. Sales-oriented pricing

Explanation

Sales-oriented pricing is a category of pricing objectives that focuses on increasing the total amount of income from sales. This means that the main goal of sales-oriented pricing is to maximize revenue by setting prices that encourage customers to make more purchases. This can be achieved through strategies such as offering discounts, promotions, or incentives to increase sales volume.

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14.

The personal satisfaction a customer receives from a good or service would be called a______

Specialty
Opportunity
Benefit
Privilege

Correct Answer

A. Benefit

Explanation

The personal satisfaction a customer receives from a good or service is commonly referred to as a benefit. This refers to the positive outcome or advantage that the customer experiences as a result of consuming or using the product or service. The benefit can be in the form of improved functionality, convenience, enjoyment, or any other positive attribute that enhances the customer's experience.

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15.

Which P is NOT a part of the marketing mix

Product
Promotion
Planning
Price
Place

Correct Answer

A. Planning

Explanation

Planning is not a part of the marketing mix. The marketing mix consists of the 4Ps: Product, Price, Promotion, and Place. Planning, on the other hand, is a separate process that involves setting objectives, determining strategies, and outlining the steps to achieve those objectives. While planning is crucial for effective marketing, it is not considered one of the elements of the marketing mix.

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Marketing I Vocab Quiz

A person that uses up the good or service is also known as the____

Quiz Preview

State Farm paid $10,000 for Hough's A Hall to be called "Discount Chamber A". In this scenario, State Farm is sponsoring the hallway.

An environment where goods and services are transferred from the producer to the consumer without real interference, is known as a__________

_________products are easily used up and need to be replaced

Becca sees Pringle's chips for $4. But she sees a local chip company's product for only $1.50. The difference in price, due to the added value people give Pringles chips due to it's brand, would be called it's what?

When Emilie saw a t-shirt that said "Just Do it", she immediately thought of Nike. The slogan could also be called a______

Opportunities a brand has to interact with the consumer, before, during or after a transaction is called a touchpoint.

What is the graphic mark or symbol or wordmark that a company can be identified?

The commitment to deliver made between the buyer and seller that the product will perform as expected is known as the__________

Selena goes to the craft store to select a photo album to fill with pictures of herself when she was younger. Which of the following interactions are touchpoints?

Logan went out to buy a lacrosse helmet. Because it is understood that the helmet is supposed to protect his head, if the helmet falls apart the moment he puts it on, the manufacturer violated what kind of warranty?

Select all the following trademark characters.

A category of pricing objectives that focus on increasing total amount of income from sales is known as what?

The personal satisfaction a customer receives from a good or service would be called a______

Which P is NOT a part of the marketing mix