SEM Unit 6 Quiz Review

The money a company has left over from the sale of a commodity after all costs are paid is referred to as

• revenue

• proft

• sales

• market share

A focus group is comprised of

• The company's marketing team

• The company's leaders and decision makers

• Members of the company's target market

• The company's partners and shareholders

A focus group can help companies determine all of the following EXCEPT

• How interested consumers are in a new product

• How frequently consumers would buy a new product

• How much consumers would be willing to pay for a new product

• How much competition a new product will face

A model of a new product is called a

• prototype

• protocol

• projection

• precursor

The degree to which a consumer knows that a product exists is called

• consumer awareness

• consumer education

• consumer engagement

• consumer interest

Which phase of the product life cycle do companies hope to prolong?

• introduction

• growth

• maturity

• decline

The newest distribution channel is the

• wholesaler

• retail store

• e-commerce store

• mail order

Advertising and publicity are components of a company's

• sales promotion

• distribution channels

• life cycle

• promotion mix

An article reviewing the latest brand of personal fitness tracker published in a privately owned magazine is an example of

• advertising

• personal selling

• sales promotion

• publicity

When a representative from a sporting goods manufacturer approaches a team about a new helmet design, he or she is practicing

• advertising

• personal selling

• sales promotion

• publicity