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WorksheetsMarketing Principles Final Prep 1819
Total questions: 40
Worksheet time: 21mins
The 5 basic marketing strategies are called the 5 P's. Another name for these strategies is _________. (short answer)
marketing mix
magical mustard
meaningful marshmellows
mindful milk
Your ______ is a calculated number that tells lenders how likely you are to pay them back.
credit score
birthdate
social security
phone number
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. (short answer)
convenience
quality
Creating a company newsletter, web site, and blog, or being active on social media site are specific ways to help improve your company's ________ ________ department. (short answer)
public relations
retirement
The action or business of promoting and selling products or services, including market research and advertising is known as ___________.
Distribution
Marketing
Selling
Advertising
Jennifer is a marketer with a toy company. The company recently developed a new toy for young girls, ages 4-9. The team is trying to determine the best time to air the toy commercial. When would be the best time to air the commercial?
11:30 PM
1:00 AM
5:00 AM
10:00 AM
What is an increase in competition likely to do to the demand?
Increase the demand
Decrease the demand
Make the demand less elastic
Make the demand more elastic
Which of the following commodities is a good?
A swimming lesson
A desk
House cleaning
Dog walking
Specialty goods
Which of the following business ownership structures offers the best liability protection but higher taxes?
A nonprofit corporation
A C corporation
A partnership
A sole proprietorship
A company that builds houses and a company that makes cars are part of the __________ industry.
Retailing
Extractive
Wholesaling
Manufacturing
A company that is organized by function will group its employees into teams based on what?
The type of work they do
The product they make
The location or branch they work at
The type of customer they serve
When you receive a loan, the money the lender gives you is called the ____________.
Interest
Line of credit
Principal
Collateral
______________ is the amount an employee earns before payroll withholding is performed.
Net pay
Gross pay
Taxable interest
An estate
A company sells a car to a consumer and helps the consumer set up a loan with regular set payments. What type of credit is this?
Revolving credit
Noninstallment credit
A line of credit
Installment credit
If a product is difficult to find or only carried by high-end retailer, this adds to it's prestige. This always benefits your marketing message.
True
False
The way you package and present your product is important. Why?
It affects customer perception.
It is a good way to reinforce your marketing message.
It can represent your personality.
All of the above.
Product placement
Brand familiarity
Market segmenting is __________.
is assigning a specific team of employees to focus solely on developing marketing strategies
only offering your product to a specific, identified group of consumers
separating people into groups based on their characteristics, problems, needs, and desires
allowing the consumers to choose which company they do business with
Without _______ it would be difficult for consumers to know which producer was offering the best deal on a certain product.
Credit
Money
Trade
Advertisement
If you are paid by the hour for your work, your income is called _______.
Salary
Wages
When setting a price, the company usually depends on which of the following:
The company's average costs
The customer's perceived value of the product
The value compared to competing products
All of the above
Distribution is represented by which of the 4 P's of Marketing?
Product
Place
Price
Promotion
Which would provide a larger distribution channel?
Selling from home to people in your local community.
Selling online to people around the world with Internet access.
___________ means to spread the product throughout the marketplace such that a large number of people can buy it.
Market accessibility
Promotion
Market sharing
Distribution
Choose the answer that most correctly compares personal selling and direct marketing.
Both focus on building relationships and always allows two-way communication.
Direct marketing deals with customers one-on-one while personal selling address the market as a whole.
Direct marketing can be similar to personal selling, but it doesn't necessarily allow two-way communication.
Direct marketing deals with products, while personal selling deals with people.
A _________ is a short-term tool for giving customers incentives to buy the product within a specific time period.
Price point
Personal selling
Marketing strategy
Sales promotion
Which best differentiates word of mouth promotion from other promotional strategies?
Word of mouth promotion is targeted only towards consumers in the store or place of business.
Word of mouth promotion takes place through informal conversations between people.
Word of mouth promotion takes place solely through social media.
Word of mouth promotion is the only promotion that uses verbal language.
Direct marketing strategies can include which of the following:
Direct mail and telemarketing
Ads and social media
Flyers and Spotify ads
Commercials and billboards
Consumers are most likely to trust a message's credibility coming from which source?
From a major competitor of the company
From a third-party source, such as a credible news or research organization
From the company itself
From a top employee from the company
Apply your knowledge of credit to answer the following:
As a banker, which person would you be most likely to give a loan to?
Abby - credit score 650
Sara - credit score 350
Johnothan - credit score 750
Michael - credit score 500
Use what you know about marketing to identify who is most likely the target audience of this magazine?
Young fashionable women
Athletic women
Men looking for love
Kids that enjoy cartoons
A company airs a commercial during the SuperBowl. What does that tell you about the company?
They are largely internet based.
They are a small business focused on local consumers.
They are wealthy, large, and powerful.
They prefer to depend solely on word of mouth promotion.
Many people in the U.S. already have cell phones. But cell phones are much less common in some other countries. If a company makes cell phones easily available and affordable to the people in those countries, it may gain new customers more quickly than it can in the U.S.
In the example, the market for cell phones in the U.S. is _____________.
Available
Saturated
Consumed
Claimed
You have a very successful business in the U.S., and you've decided to take it to another country. Before launching your business there, it is most important to ____________.
Research the country to make sure they will be interested in the product, and to be sure you don't offend anyone.
Go into it as quickly as possible, so not to miss the market opportunity.
Handle business exactly as you did in the U.S. since it was so successful.
Set up an office space that would satisfy out-of-country employees.
What makes social media an asset in international marketing?
Can be shared all over the world
Reasonable advertising rates
Reaches a wide variety of consumers
All of the above
