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WorksheetsMarketing Principles IA3 Prep 1819
Total questions: 45
Worksheet time: 23mins
Name
Class
Date
1.
Which of the following is a wordmark logo?
a)
A.
b)
B.
c)
C.
d)
D.
2.
In which product development stage does a company select a small group of consumers to give full information about the new product, and then they are asked what they feel about the new product?
a)
Test marketing
b)
Idea screening
c)
Concept testing
d)
Commercialization
3.
A symbol or other design adopted by an organization to identify it's products, uniforms, vehicles, etc. is called a ______.
a)
Product
b)
Slogan
c)
Design
d)
Logo
4.
The creation of products with new or different characteristics that offer new or additional benefits to the customer is called ______.
a)
Idea creation
b)
Product development
c)
Concept development
d)
Product research
5.
When creating a logo, it is very important to consider your ________ because they are the one's who you are trying to get to buy your product.
a)
Target audience
b)
Employees
c)
Investors
d)
CEO
6.
The Apple logo would fall under which logo type?
a)
Wordmark
b)
Pictorial
c)
Abstract
7.
During which stage of product development does a business work to determine whether or not the new product would be profitable for the company?
a)
Test marketing
b)
Idea screening
c)
Product development
d)
Business analysis
8.
During what stage of product development does the business introduce the new product on a large scale?
a)
Commercialization
b)
Idea generation
c)
Idea screening
d)
Product development
9.
When designing a logo, it is very important to consider all but which of these things.
a)
Which colors will reflect your product and your overall goal
b)
The price of your product
c)
What will attract your target audience
d)
The most important qualities of your product that you want your logo to reflect
10.
Consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
a)
Marketing information system
b)
Research process
c)
Target market surveying
d)
Ideal retainer collection
11.
How many steps are the in the marketing research process?
a)
1
b)
2
c)
3
d)
4
12.
The marketing research process involves which type of research data?
a)
Primary
b)
Secondary
c)
Both
13.
How long did the "new coke" last before the company release the original version once again?
a)
4 weeks
b)
77 days
c)
4 months
d)
86 days
14.
A catchphrase or small group of words that are combined in a special way to identify a product or company is called __________.
a)
Slogan
b)
Motto
c)
Mission
d)
Logo
15.
Companies have slogans for the main reason of __________.
a)
Keeping it simple
b)
Advertising
c)
Finances
d)
Bookkeeping
16.
Which is NOT one of the characteristics that make a great slogan?
a)
It's memorable
b)
It includes a key benefit
c)
It helps the company fit in with other companies
d)
It imparts positive feeling about the brand
17.
The Kennedy + Weiden agency is well known for which slogan?
a)
You're in good hands
b)
Just do it
c)
Eating good in the neighborhood
d)
We have the meat
18.
After releasing their slogan "think different", Apple's stock price _________ with a year.
a)
Dropped
b)
Doubled
c)
Tripled
d)
Stayed consistant
19.
In which step of the marketing research process does exploratory, descriptive, and causal research each fulfill different objectives.
a)
Step 1
b)
Step 2
c)
Step 3
d)
Step 4
20.
(SA) If ___________ is the most important thing about your product, you want to make the product available in many locations that are easy to access for your customers.
a)
The
b)
answer
c)
is
d)
convenience
21.
The action or business of promoting and selling products or services, including market research and advertising is known as ___________.
a)
Distribution
b)
Selling
c)
Marketing
d)
Advertising
22.
The way you package and present your product is important. Why?
a)
It affects customer perception
b)
It is a good way to reinforce your marketing message
c)
It can represent your personality
d)
All of the above
23.
Which of the following are indirect competitors?
a)
Sony and Nike
b)
Burger King and McDonalds
c)
Taco Bell and Pizza Hut
d)
Apple and Mary Kay
24.
What is an increase in competition likely to do to the demand?
a)
Decrease the demand
b)
Increase the demand
c)
Make demand more elastic
d)
Make the demand less elastic
25.
A producer is someone who _____________.
a)
Receives a commodity from a business
b)
Is in the market for a commodity
c)
Makes a commodity available for sale or exchange
d)
Buys or trades in order to receive a commodity
26.
In a company's SWOT analysis, which of the following is an example of a threat?
a)
The market is not very saturated.
b)
The company's employees have bad morale.
c)
There are many competitors in the market.
d)
The company makes a low quality product.
27.
If your company has a large production-related task, such as assembling an airplane, what strategy could help you increase productivity?
a)
Raising prices
b)
Decreasing your use of technology
c)
Division of labor
d)
Generalization
28.
Which of the following is part of the cost of goods or services sold for a company that paints people's homes?
a)
Paint
b)
Flyers to promote the company
c)
A van to travel to homes
d)
Fuel for van
29.
Apply your knowledge of credit to answer the following: As a banker, which person would you be most likely to give a loan to?
a)
Sara - credit score 350
b)
Michael - credit score 500
c)
Abby - credit score 650
d)
Jason - credit score 750
30.
Which type of utility can only be added by the maker of the product?
a)
Time utility
b)
Place utility
c)
Possession utility
d)
Form utility
31.
How is the value of a product determined?
a)
By how much it cost the producer to make
b)
By its variable costs
c)
By the number of workers who were involved in making it
d)
By the amount a consumer is willing to pay for it
32.
Which of the following types of business ownership has the advantages of pass-through taxation and liability protection?
a)
An LLC
b)
A C corporation
c)
A sole proprietorship
d)
A partnership
33.
In financial bookkeeping, credits go on the _____ and debits go on the _____.
a)
Left, left
b)
Left, right
c)
Right, right
d)
Right, left
34.
Money that your company has in the bank in case of unexpected financial needs or in case sales slow down is called ____________.
a)
Insurance
b)
Equity
c)
An asset fund
d)
A cash reserve
35.
Which of the following is a type of liability?
a)
Accounts payable
b)
Accounts receivable
c)
A liquid asset
d)
A revenue stream
36.
Which of the following assets is the most liquid?
a)
Money in the bank
b)
Real estate
c)
A piece of equipment
d)
Inventory
37.
Which of the following tips can hurt your cash flow?
a)
Increase your sales.
b)
Pay your bills early.
c)
Offer credit only to low risk borrowers.
d)
Keep a cash reserve.
38.
Jacob is a marketer at Gamer Way Video Games. He is currently working to develop four different color versions of their latest video game console. Which of the four Marketing Mix strategies is Jacob working on?
a)
Product
b)
Price
c)
Place
d)
Promotion
39.
If you are shopping for electronic and see a brand you recognize with a reputation you trust, you are more likely to choose that brand instead of a product with a name you don't recognize. This is called?
a)
Product placement
b)
Brand image
c)
Loyalty
d)
Brand familiarity
40.
What does Steve Jobs refer to as the "magic" of product development?
a)
The product
b)
The process
c)
The minds behind the product
d)
The principles
41.
Which of the following is an example of earned income?
a)
A gift of money from a friend or family member
b)
Money you receive from a company you invested in
c)
Interest on money you lent to a friend
d)
A paycheck you receive for work you have done
42.
What is the best way to deal with volatility and get the best return on your investment?
a)
Invest only in very safe investments.
b)
Put your money in a savings account.
c)
Avoid investments that create capital gains.
d)
Use diversification.
43.
What does an exchange rate tell you?
a)
How much one unit of currency is worth when converted to another currency
b)
How many products have been exchanged between two different countries
c)
The number of people in one country in comparison to another country
d)
The speed that people are buying a specific type of product
44.
A good investment should do one or both of which two things?
a)
Raise prices or increase demand
b)
Avoid opportunity cost or increase volatility
c)
Grow in value or produce income
d)
Decrease diversification or decrease interest
45.
A __________ is when you take money out of the bank.
a)
Transfer
b)
Withdrawal
c)
Branch
d)
Deposit
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