Final Exam 2025-2026 Marketing Principles

Which statement aptly describes the characteristics of the middle class in the United States?

• They are people who are not regularly employed; depend primarily on the welfare system for sustenance; and have little schooling.

• They are people who are middle-level white-collar; have education past high school; and with an income somewhat above national average.

• They are people who are upper-level managers; professionals; owners of medium-sized businesses; and well-to-do, stay-at-home homemakers.

• They are people who are middle-level blue-collar, lower-level white-collar; with income below national average; and are largely working in skilled or semi-skilled service jobs.

2. A relatively inexpensive item that merits little shopping effort is called a(n) ________.

• convenience product

• shopping product

• industrial product

• unsought product

Which of the following terms refers to a meeting in which the salesperson offers a sales proposal to a prospective buyer?

• Sales proposal

• Sales presentation

• Sales offer

• Negotiation

A ______ occurs when a company’s management decides to add products to an existing product line to compete more broadly in the industry.

• product line reeling

• product line extension

• product line classification

• product line contraction

Walmart is a successful example for retailing. The store emphasizes low pricing in its ads and promotes its message that customers can get more for their money. Walmart likely uses _________________________.

• income segmentation

• age segmentation

• gender segmentation

• ethnic segmentation

Three-dimensional printing (3DP) is also referred to as ______ manufacturing.

• flexible

• postponed

• offshore

• additive

Text messages of unlimited characters sent to and from cell phones with images, videos, ringtones, and other multimedia attached are called _________ texts.

• short message service (SMS)

• multimedia messaging service (MMS)

• mobile website (MOBI and WAP website)

• smartphone applications (apps)

Which of the following statements is true of simple break-even analysis?

• It does not consider the selling price of a product.

• It does not give weightage to the cost of labor.

• It is applicable only when the demand for a product is elastic.

• It ignores the demand for a product.

Which of the following statements is true of an organization’s product mix?

• Firms widen their product mix to capitalize on established reputations.

• A wide product mix decreases sales and profit-making potential.

• A wide product mix means that the product line is deep.

• All product items in a product mix follow a standard marketing strategy.

Which statement is true of product positioning?

• It assumes that consumers compare products solely on the basis of price.

• There are two positioning bases: application and price.

• The quality of competing products does not influence product positioning.

• It is a process that influences potential customers’ overall perception of a brand and product line.