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Worksheetsmarketing
Total questions: 61
Worksheet time: 45mins
Name
Class
Date
1.
Brand or trade names are used primarily to identify a
a)
market
b)
standard
c)
product
d)
trend
2.
Abusiness that says it tries harder because its product is not number one, is using product positioning to
a)
upgrade
b)
complete
c)
MOTIVATE
d)
organize
3.
In what stage of brand loyalty do people become aware of the brand?
a)
Recognition
b)
Satisfaction
c)
Insistence
d)
Preference
4.
A company that makes ink pens claims no other pen on the market uses a type of ink that changes color
when exposed to light. The company is positioning its product according to what strategy?
when exposed to light. The company is positioning its product according to what strategy?
a)
Price and quality
b)
Features and benefits
c)
Unique characteristics
d)
Relation to other products in a line
5.
A company advertises that its products are durable lightweight, and come in a variety of colors. What strategy is the company using to position its product?
a)
Price and quality
b)
Features and benefits
c)
Unique characteristics
d)
Relationship to other products
6.
Why do companies use brands for their products?
a)
To charge higher prices
b)
To encourage materialism
c)
To demonstrate creativity
d)
To differentiate their products
7.
A drawback of brands as compared to unbranded products is that they usually
a)
differentiate products
b)
must be sold at higher prices
c)
create brand loyalty
d)
require trademark registration
8.
Why would a business use a broad product mix?
a)
To assure that the product lines are related
b)
To promote one-stop shopping
c)
To decrease legal liabilities
d)
To relate the products to the target market
9.
Which of the following is a reason that a business would make changes to its products?
a)
To keep up with changing consumer preferences
b)
To spread risk over a wider area
c)
To predict the success of the changed product
d)
To make room for other products
10.
How do companies make brand promises to their customers?
a)
They provide customers with a sworn statement
b)
They meet or exceed customer expectations on a consistent basis.
c)
Salespeople verbally make brand promises to each customer
d)
They fulfill special requests for customers.
11.
Company XYZ sells condensed soups and promotes them by saying, "Great taste, great price." Company
XYZ is positioning its product according to what strategy?
XYZ is positioning its product according to what strategy?
a)
Price and quality
b)
Features and benefits
c)
Unique characteristics
d)
Relationship to other products
12.
Why would a business use a broad product mix?
a)
To assure that the product lines are related
b)
To decrease legal liabilities
c)
To promote one-stop shopping
d)
To relate the products to the target market
13.
Why would a business add higher priced products to its product mix?
a)
To prevent out-of-stock conditions
b)
To overcome production problems
c)
To limit costs
d)
To enhance the image of the company
14.
Each individual good, service, or idea a business offers for sale is known as a product _______
a)
item
b)
width
c)
mix
d)
line
15.
Which of the following is one of the elements included in judging the consistency of a company’s product lines:
a)
end use
b)
`life cycle
c)
packing aging
d)
product names
16.
Why would a business remove or delete product items or lines from its product mix?
a)
To increase market risk
b)
To offer customers complementary products
c)
To aviod legal liabilities
d)
To appeal to a new market
17.
Which of the following is an example of a product line:
a)
A1 Steak Sauce
b)
Capri Sun
c)
Kraft convenience foods
d)
Wheat Thins
18.
The particular assortment of products a business offers to meet market needs and company goals is its product ________.
a)
mix
b)
depth
c)
consistency
d)
width
19.
A salon recently added nail services to its product mix. This strategy is called _______________.
a)
contraction
b)
alteration
c)
trading up
d)
expansion
20.
Which of the following is a disadvantage associated with the addition of a lower priced product or line to a company's product mix:
a)
Competition may be fierce among higher end competitors.
b)
The company's reputation may be damaged.
c)
Customers may refuse to believe that better quality merchandise can be purchased from the business.
d)
Sales of established products may decline
21.
A business that offers a great many items in a product line has a __________ product mix.
a)
shallow
b)
broad
c)
deep
d)
narrow
22.
A product-mix strategy in which a business removes, or deletes, product items or lines from its product mix is _______________.
a)
alteration
b)
trading down
c)
trading up
d)
contraction
23.
A product-mix strategy in which a business redesigns its products is ____________
a)
expansion
b)
consistency
c)
alteration
d)
contraction
24.
Which of the following is a reason that a business would make changes to its products:
a)
To predict the success of the changed product
b)
To keep up with changing consumer preferences
c)
To spread risk over a wider area
d)
To make room for other products
25.
Which of the following is an example of a business with a broad product mix:
a)
Jeweler
b)
Discount store
c)
Car dealership
d)
Candy store
26.
Which of the following is a reason for a business to offer a deep product mix:
a)
To control costs
b)
to compete effectively
c)
To specialize in a product line
d)
To ensure similar methods of distribution
27.
A product-mix strategy in which business adds a lower priced product or line to its product mix is _________________.
a)
alteration
b)
contraction
c)
trading down
d)
expansion
28.
Selecting the product mix is an important decision for a business for all of these reasons EXCEPT that it _________.
a)
presents a consistent company image.
b)
helps the business to appeal to its target market.
c)
decreases marketing costs
d)
helps a business deal with its competition.
29.
Which of the following is a reason for a business to add product items or lines to its product mix:
a)
To improve products for social good
b)
To limit costs
c)
To conflict with another product in the mix
d)
To satisfy customers' desire for variety
30.
Which of the following is a disadvantage associated with the addition of a higher priced product or line to a company’s product mix:
a)
Sales of established products may decline
b)
It can damage customer goodwill
c)
Success is difficult to predict
d)
It increases market risk
31.
Why would a business use a shallow product mix?
a)
To promote one-stop shopping
b)
To allow the company to meet the needs of a variety of consumers
c)
To control costs
d)
To use a wide range of prices
32.
A product-mix strategy in which a business adds a higher priced product or line to its product mix is __________.
a)
contraction
b)
breadth
c)
trading up
d)
depth
33.
Which of the following is a way a business can set up a product line:
a)
Customer Group
b)
Width
c)
Depth
d)
Trading up
34.
Which of the following is a reason for a business to have a narrow product mix:
a)
To use a wide range of prices
b)
To reduce the costs of the goods the company purchases for resale
c)
To allow the company to meet the needs of a variety of consumers
d)
To allow the company to specialize
35.
The number of products and the assortment of sizes, colors, and models offered in product lines is referred to as _________.
a)
class
b)
width
c)
depth
d)
consistency
36.
The number of product lines a company carries is referred to as ______.
a)
class
b)
consistency
c)
depth
d)
width
37.
Which of the following is not something a business must accomplish through selling price:
a)
Maintain market share
b)
Pay all costs of the product
c)
Pay all operating expenses
d)
Obtain a profit
38.
Which of the following is prohibited by government regulation:
a)
Businesses that avoid agreeing on a price range for a product
b)
Businesses that offer premiums without explaining the terms to the customer
c)
Businesses that show the price per unit along with the total price of the item
d)
Businesses that charge the same price to similar customers in similar situations
39.
In which of the following forms of competition are no substitutes readily available?
a)
Pure competition
b)
Monopolistic competition
c)
Oligopoly
d)
Pure monopoly
40.
Businesses that come under government control often set a target return of profit because they
a)
need to earn very high profits
b)
must abide by unfair trade practices
c)
are not allowed to earn a reasonable profit
d)
may be investigated if they earn high profits
41.
The objective of pricing that is intended to earn a certain percentage of profit based on the amount of money that has been put into the business is
a)
percentage pricing
b)
unfair trade practices
c)
return on sales
d)
return on investment
42.
What happens when demand for a product goes up?
a)
The selling price goes up
b)
Customers can’t afford to buy it.
c)
Producers make more of it
d)
The supply decreases
43.
A business that sets its prices lower than those of competitors will not make a profit unless it also
a)
reduces its inventory
b)
increases promotion
c)
controls its costs
d)
enlarges its staff
44.
Erica wants to buy Marco’s used iPod. He is asking her to pay him $100 for it. $100 is the iPod’s
a)
cost of goods
b)
selling price
c)
cash flow
d)
profit
45.
Which of the following factors related to a business’s objectives and strategies affects its pricing:
a)
Product mix
b)
Channel members
c)
Channel members
d)
Supply
46.
In what type of market do companies compete by making their products different from each other as to quality, service, styles, and prices?
a)
Pure competition
b)
Monopolistic competition
c)
Oligopoly
d)
Monopoly
47.
Selling price helps customers to allocate their money because price determines
a)
what customers need to purchase
b)
the value of products to all purchasers
c)
the quality of all goods and services
d)
what customers can afford to purchase
48.
A business that uses sales-oriented pricing objectives wants to increase the
a)
cost of its marketing efforts
b)
total amount of its income from sales
c)
amount of promotion it uses
d)
inefficiency of its human resources
49.
Most marketers feel that it is a good strategy to price their products according to the
a)
sale of loss leaders
b)
agreements set with other channel members
c)
manufacturer’s list price
d)
way their customers view the products
50.
The selling prices of products help customers to
a)
make buying decisions
b)
compare different kinds of products
c)
spend freely
d)
determine the amount of mark-up
51.
The majority of businesses that use profit-oriented pricing want to
a)
earn a reasonable amount of profit
b)
make as much profit as possible
c)
reduce their return on investment
d)
create a negative cash flow
52.
Which of the following is true of a business’s pricing objectives
a)
They must be changed each fiscal year
b)
They must be adjusted from time to time
c)
They are chosen for the life of the business
d)
They are not affected by changing circumstances
53.
Is the following statement true or false: There is no connection between a firm’s marketing ob-jectives and its pricing objectives
a)
True; marketing and pricing are independent of each other
b)
False; marketing objectives are based on pricing objectives
c)
True; some businesses do not even need marketing objectives
d)
False; pricing objectives should be used to achieve marketing objectives
54.
If a producer priced its products much lower than those offered by competitors, is it possible that the producer would lose customers:
a)
yes; channel members avoid buying from the lowest priced producer.
b)
No; customers will buy from the producer offering the lowest price
c)
No; channel members seldom change vendors when they’re getting the lowest price.
d)
Yes; the price may be so low that the producer is unable to perform certain duties.
55.
Why is it important for businesses to recover their costs?
a)
So that they can pay lower taxes
b)
So that they can stay in business
c)
So that they can maximize their losses
d)
So that they can avoid government regulation
56.
Why is obtaining, maintaining, or increasing market share important to a business?
a)
A large market share ensures large profits
b)
Customers are interested in a firm’s market share
c)
Market share serves as a measure of the success of the business
d)
Market share must constantly increase for the business to succeed
57.
Jack’s General Store has advertised a big sale on toasters. When Wendy goes to the store to buy a toaster, the salesperson tells her they are all sold out and offers to sell her a higher priced toaster oven. This is an example of an illegal practice known as
a)
bait-and-switch advertising
b)
unit pricing
c)
price fixing
d)
price discrimination
58.
Which of the following is a true statement:
a)
Only certain types of products have selling prices
b)
Selling prices are easy for businesses to determine
c)
Selling prices for products remain the same over time
d)
There are many kinds of selling prices for goods and services
59.
The national economy is always changing. These ups and downs in economic activity are known as
a)
growth periods.
b)
business cycles
c)
profit cycles
d)
recessions.
60.
It costs a publishing company $8 to produce a paperback book. The company sells each paperback it produces for $9.99. The $1.99 difference is known as
a)
capital
b)
mark-up
c)
demand
d)
elasticity
61.
What kind of competitive market is characterized by a great many buyers and sellers of nearly identical products and marketers who have little control over pricing?
a)
Monopolistic competition
b)
Monopoly
c)
Pure competition
d)
Oligopoly
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