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WorksheetsMarketing Principles IA 5 Prep
Total questions: 40
Worksheet time: 40mins
The 5 basic marketing strategies are called the 5 P's. Another name for these strategies is ________. (SA)
marketing mix
Harry Potter (this is not the right answer)
The action or business of promoting and selling products or services, including market research and advertising is known as ___________.
Distribution
Marketing
Selling
Advertising
Which of the following are indirect competitors?
Sony and Nike
Burger King and McDonalds
Taco Bell and Pizza Hut
Apple and Mary Kay
Which of the following commodities is a good?
A swimming lesson
House cleaning
Dog walking
A desk
A producer is someone who _____________.
Buys or trades in order to receive a commodity
Is in the market for a commodity
Makes a commodity available for sale or exchange
Receives a commodity from a business
Which of the following is a fixed cost for a company that sells greeting cards online and mails the printed cards to customers?
A paper cutting machine
Packaging and shipping costs
Hourly workers who assemble and ship the cards
The paper and glue to make the cards
Which of the following is part of the cost of goods or services sold for a company that paints people's homes?
A van to travel to people's homes
Flyers to promote the company
Fuel for the van
Paint
As a banker, which person would you be most likely to give a loan to?
Jason - credit score 750
Abby - credit score 650
Sara - credit score 350
Michael - credit score 500
A company's ________ tells you how much money the company has left over after subtracting all expenses.
Cost of goods sold
Revenue
Gross profit
Net profit
How is the value of a product determined?
By how much it cost the producer to make
By the number of workers who were involved in making it
By its variable costs
By the amount a consumer is willing to pay for
A corn farm, a coal mine, and a fishing company are all part of the _________ industry.
Manufacturing
Retailing
Extractive
Service
Which of the following describes a saturated market?
The prices of competitors are very high.
Many people want this product and haven't purchased it yet.
Most potential buyers have not heard of the product and don't know it exists.
Most potential buyers already have a product that satisfies this need or want.
In financial bookkeeping, credits go on the _____ and debits go on the _____.
right, right
right, left
left, right
left, left
Which of the following assets is the most liquid?
Real estate
Inventory
A piece of equipment
Money in the bank
Which of the following tips can hurt your cash flow?
Increase your sales.
Offer credit only to low risk borrowers.
Pay your bills early.
Keep a cash reserve.
What does Steve Jobs refer to as the "magic" of product development?
The principles
The product
The minds behind the product
The process
A symbol or other design adopted by an organization to identify it's products, uniforms, vehicles, etc. is called a ______.
Product
Design
Logo
Slogan
The creation of products with new or different characteristics that offer new or additional benefits to the customer is called ______.
Idea creation
Product development
Concept development
Product research
The Apple logo would fall under which logo category?
Wordmark
Abstract
Pictorial
A catchphrase or small group of words that are combined in a special way to identify a product or company is called __________.
Slogan
Motto
Logo
Mission
Which of the following is an example of earned income?
Money you receive from a company you invested in
A paycheck you receive for work you have done
A gift of money from a friend or family member
Interest on money you lent to a friend
If your bank is a member of the FDIC, what does that mean for you?
Your money is protected by insurance up to a specific amount.
You will get a better exchange rate than at other banks.
Your bank is allowed to print out currency for you.
The bank is not allowed to lend out your money.
If you plan to take money out of the bank frequently, what type of account should you get?
An interest account
A checking account
An investment account
A savings account
What is the best way to deal with volatility and get the best return on your investment?
Invest only in very safe investments.
Use diversification.
Put your money in a savings account.
Avoid investments that create capital gains.
What does an exchange rate tell you?
How many products have been exchanged between two different countries
The number of people in one country in comparison to another country
How much one unit of currency is worth when converted to another currency
The speed that people are buying a specific type of product
A good investment should do one or both of which two things?
Raise prices or increase demand
Decrease diversification or decrease interest
Avoid opportunity cost or increase volatility
Grow in value or produce income
What is most likely to happen if the Fed prints too much currency?
A decrease in product prices
An increase in spending power
A decrease in the number of banks
An increase in inflation
A __________ is when you take money out of the bank.
Withdrawal
Branch
Deposit
Transfer
As a unit of measure, money makes it easier for consumers to do what?
Have a better exchange rate with other currencies.
Get more unearned income.
Make a bigger profit from their income.
Compare prices of different products.
What is a minimum balance?
The smallest amount of money you can keep in a bank account
The process of balancing your checkbook register against your bank statement
The smallest withdrawal you can make from a bank account
The largest number of checks you can write in a month
Which of the following types of ads is most likely to feel personal?
A brightly colored magazine ad
A billboard with a photo of a celebrity
A newspaper advertisement that includes the company logo
A radio ad that is read by a trusted radio host
Which of the following can help you evaluate the performance of your ads and other marketing strategies?
Asking customers how they found out about your company or product
Collecting secondary data about your target market
Asking competitors what they think of your advertising strategy
Sending out a press release multiple times
Which of the following is an example of an advertisement?
A company newsletter
A billboard
A press release
A news article about the company
Which type of advertisement is most likely to make you submit your ad far in advance?
Internet ads
Direct mail
Magazine ads
Newspaper ads
Which of the following types of promotion includes a two-way conversation?
Public relations
Personal selling
Advertising
A press release
A company's PR efforts are often aimed at doing what?
Comparing ad prices.
Getting publicity.
Getting more ads.
Reducing press releases.
What is institutional advertising focused on promoting?
A service
A good
A company
The Internet
A print ad usually includes which two things?
Video and sound
Images and text
Images and video
Text and sound
Which of the following types of advertising has the advantage of being especially affordable?
Internet advertising
Infomercials
Billboard advertising
Magazine advertising
Which of the following is an example of a sales promotion?
A company newsletter
Pay per click Internet advertising
A permanent price reduction
A coupon that expires in one month
