Fashion Merchandising 4.01 Review 1

When the price of a product or service increases, demand will usually:

• be average

• decrease

• increase

• remain the same

Trey buys his wife a new purse for Mother’s Day. She immediately begins to use it on a daily basis. In this example, what is the wife’s role?

• Consumer

• Wholesale

• Service

• Supplier

What is a basis for psychographic segmentation?

• Customer location

• Education level

• Income

• Lifestyle

When a product is in high demand, prices usually:

• decrease

• fluctuate

• increase

• remain the same

Each year, PacSun makes hundreds of beach towels to sell at their coastal locations. In this example, the beach towels are:

• furniture

• goods

• services

• supplies

There is only one department store in a small, rural town in North Carolina without any competitors. The store dominates the industry in that area. This describes which competitive market structure?

• Monopoly

• Nonprice Competition

• Oligopoly

• Pure competition

The costs involved in distributing the product and conducting marketing research must be considered when determining:

• distribution channels

• markets

• price

• promotional mix

Developing magazine advertisements and news releases for use in communicating with customers is which marketing mix component?

• place

• price

• product

• promotion

Which is a basis for psychographic segmentation?

• customer location

• education level

• income

• lifestyle

Customer services, business location, and qualifications of salespeople are elements of which type of competition?

• direct

• indirect

• nonprice

• price