Principles 1B Unit 1 Quiz

Which is the most plausible reason that the energy industry spends the least on marketing?

• There is little competition among energy providers

• Most energy companies are legally prohibited from marketing.

• Standards for customer service are different in the energy industry.

• There is a very small market for energy so little marketing is needed.

Julio wants to open a sporting goods store. Which is a good first step for marketing the business?

• accepting cash from a customer purchasing a product

• holding regular staff meetings to go over employee benefits

• hiring an attorney to review all contracts associated with the business

• researching the most likely customers and how to reach them

Bianca has been working on a new marketing plan for her consulting business. Ultimately, what should her most important marketing goal be?

• to minimize the focus on a product

• to change consumers’ minds about products

• to build long-term relationships with customers

• to make sure that consumers focus on products, not companies

Which industry is likely to spend the most on marketing?

• fast food

• electricity

• train travel

• nursing services

Simone owns a women’s clothing boutique. Who is most likely to be her ideal customer?

• someone who came in once but spent a great deal of money

• someone who comes in frequently but rarely actually buys products

• someone who visits weekly and spends a moderate amount of money

• someone who comes in occasionally and complains about the business

Why should businesses pursue repeat customers?

• They will spend the most over time.

• They care the least about customer service.

• They do not require further marketing efforts.

• They are most likely to review the business on social media.

How does marketing shape the products that businesses provide?

• Marketing defines the requirements for a given product.

• Marketing requires that businesses interact with consumers.

• Marketing is only possible after the product is fully developed.

• Marketing helps businesses determine what customers will want in the future.

Which of these is an example of the relationship between a product and society?

• creating a national minimum wage

• using recycled material in packaging

• considering products that were used decades ago

• following all of the regulations that relate to the product

When a business such as Starbucks creates a new need in society, who else benefits?

• businesses that fill other needs

• those who open similar businesses

• suppliers when demand decreases as a result

• consumers who are willing to pay increasingly high prices

How can marketing help businesses benefit society?

• by conducting research about what sells

• by creating a lot of needs and therefore shortages

• by shaping consumer tastes to increase profitability

• by pushing businesses to develop products that fill social needs