Lesson 17: Principles of Marketing Review

Direct channels of distribution include _____________ as members.

• manufacturers, retailers, and customers

• manufacturers and retailers

• manufacturers and wholesalers

• manufacturers and customers

Product promotion refers specifically to all activities undertaken to

• inform consumers about the product.

• ensure that the product price is what consumers will pay.

• ensure that the product price is higher than the competition.

• inform consumers and encourage them to buy the product.

The value proposition includes all of the benefits that the

• product promises to deliver.

• customers receives from a product.

• seller promises to deliver.

• a customer attributes to the product.

Which of the following planning processes matches a firm’s resources and abilities to market opportunities for long-term growth?

• strategic planning

• functional planning

• operational planning

• mission planning

Value marketing refers to

• a marketing plan that costs very little to implement.

• a marketing plan for products that stress quality for less.

• a marketing plan that plays on a good set of values.

• a marketing plan for products that are inexpensive.

_______________ occurs when businesses offering competitive products attempt to satisfy the same consumers’ wants and needs

• Brand competition

• A monopoly

• Monopolistic competition

• Product competition

Experimental research is used to study

• consumer behaviors.

• the natural habitats of consumers.

• cause-and-effect relationships.

• focus group responses.

Research that provides detailed verbal or visual information about consumer’s feelings is _______ data.

• continuous

• quantitative

• descriptive

• qualitative

When a company chooses to market to several market segments and uses separate offers for each market, the company is using a ____________ strategy.

• differentiated marketing

• concentrated marketing

• micromarketing

• undifferentiated marketing

Customer relationship management is used for all of the following except

• to target highly valued customers.

• to identify all customers who shop with the company.

• to develop strong customer relationships.

• to create offers tailored to specific customers.