Principles Of Marketing Quiz Questions And Answers

35 Questions | By Linisom77 | Last updated: Mar 22, 2022 | Total Attempts: 7655

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Hey, check out this incredible 'Principles of marketing quiz'. Here, you'll get the chance to test out how well you know the things that make a marketing strategy work. A good marketing strategy should put in mind the place, price, product, and promotion that is perfect for the business. Once the marketing strategy is designed the chances of attracting new clients increase by the day. Play this quiz and increase your understanding of this study.

Questions and Answers

1.

During the introduction stage of the product life cycle, a/an ________may be used. This pricing strategy charges a high price to recoup the costs of product development.
- A.
  
  Penetration pricing
- B.
  
  Cost-plus pricing
- C.
  
  Skimming pricing
- D.
  
  ROI pricing
2.

Setting prices a few dollars or cents under an even number is referred to as
- A.
  
  Odd-even pricing
- B.
  
  Prestige pricing
- C.
  
  Price lining
- D.
  
  Price fixing
3.

A/an ______exists when producers and ultimate consumers deal one on one with each other.
- A.
  
  Strategic channel alliance
- B.
  
  Direct channel
- C.
  
  Marketing channel
- D.
  
  Indirect channel
4.

A non personal, indirectly paid presentation of an organization, product, or service that can take the form of a news story, editorial, or product announcement is referred to as
- A.
  
  Direct sales
- B.
  
  Publicity
- C.
  
  Direct marketing
- D.
  
  Public service announcement
5.

Sales promotions that require participants to submit some kind of entry form but are purely games of chance requiring no analytical or creative effort by the consumer are referred to as
- A.
  
  Premiums
- B.
  
  Rebates
- C.
  
  Contests
- D.
  
  Sweepstakes
6.

The number of different people or households exposed to an advertisement is referred to as
- A.
  
  Scope
- B.
  
  Share
- C.
  
  Reach
- D.
  
  Rating
7.

The cost of reaching 1000 individuals or households with the advertising message in a given medium is referred to as
- A.
  
  CPM
- B.
  
  CPT
- C.
  
  CMH
- D.
  
  ACPM
8.

When Allyn went to get his newspaper, he found the paper in a plastic bag along with a box containing one dose of Alka-Seltzer Heartburn Relief medication. In this example, which type of sales promotion is Alka-Seltzer using?
- A.
  
  A sample
- B.
  
  A deal
- C.
  
  A point of purchase display
- D.
  
  An introductory offer
9.

The activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as ____________.
- A.
  
  Marketing
- B.
  
  Advertising and promotion
- C.
  
  Creative planning
- D.
  
  Consumerism
10.

What are the two central concerns of marketing?
- A.
  
  Establishing market share and making profits
- B.
  
  Holding down costs and increasing profits
- C.
  
  Finding customers and making profits
- D.
  
  Discovering and satisfying needs
11.

The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals reflects the ____________.
- A.
  
  Concept of synergy
- B.
  
  Marketing concept
- C.
  
  Principle of consumerism
- D.
  
  Societal marketing concept
12.

One of the more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a ______________.
- A.
  
  Mass market
- B.
  
  Market aggregation
- C.
  
  Target market
- D.
  
  Promotional market
13.

The first objective in marketing is to discover consumer ___________.
- A.
  
  Diversity
- B.
  
  Potential
- C.
  
  Objectives
- D.
  
  Needs
14.

Organizations that develop similar offerings, when grouped together, create a/an _____________.
- A.
  
  Merger
- B.
  
  Industry
- C.
  
  Competitive landscape
- D.
  
  Monopoly
15.

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself is referred to as ______________.
- A.
  
  Sales quality
- B.
  
  Market share
- C.
  
  Marginal revenue
- D.
  
  Industry potential
16.

The marketing strategy of developing new products and selling them in new markets is referred to as _______________.
- A.
  
  Product penetration
- B.
  
  Market development
- C.
  
  Diversification
- D.
  
  Market penetration
17.

What does 'Technology' refers to?
- A.
  
  Any device or process for which there is no substitute
- B.
  
  The inventions or innovations from applied science that are used to generate a profit
- C.
  
  The inventions or innovations from applied science or engineering research
- D.
  
  Ideas or concepts that will one day be translated into useable devices, mechanisms, or processes
18.

The description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as ___________.
- A.
  
  Prospecting
- B.
  
  Behavioral analysis
- C.
  
  Statistical analysis
- D.
  
  Demographics
19.

Which of the following statements accurately distinguishes between laws and ethics?
- A.
  
  Laws reflect the beliefs of the majority and ethics reflect the beliefs of smaller segments of society.
- B.
  
  Ethics deal with internal personal issues, and laws deal with external social issues.
- C.
  
  Ethics deal with personal and moral principles whereas laws are society's values and are enforceable in the courts.
- D.
  
  There is no significant difference--these terms can be used interchangeably.
20.

The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as ______________.
- A.
  
  Moral imperative
- B.
  
  Social responsibility
- C.
  
  Utilitarianism
- D.
  
  Moral idealism
21.

A favorable attitude toward and consistent purchase of a single brand over time is referred to as _____________.
- A.
  
  Brand bias
- B.
  
  Brand loyalty
- C.
  
  Behavioral loyalty
- D.
  
  Consumer allegiance
22.

Another name for the analysis of consumer lifestyle is ________________.
- A.
  
  Demographics
- B.
  
  Psychographics
- C.
  
  Social statistics
- D.
  
  Psysiological needs
23.

There are five stages in the purchase decision process. What is the first stage?
- A.
  
  Information search
- B.
  
  Purchase decision
- C.
  
  Problem recognition
- D.
  
  Post purchase behavior
24.

People to whom an individual looks as a basis for self-appraisal or as a source of personal standards are referred to as __________.
- A.
  
  Principle-oriented consumers
- B.
  
  Opinion leaders
- C.
  
  Social classes
- D.
  
  Reference groups
25.

The monetary value of all goods and services produced in a country during one year is referred to as _______________.
- A.
  
  Gross national production
- B.
  
  National monetary reserve
- C.
  
  Gross domestic product
- D.
  
  Gross national product