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Theme 1 Review

Total questions: 24

Worksheet time: 14mins

Name
Class
Date
1.
What is qualitative data?
a)
Data involving numbers
b)
Data involving information with no numbers
c)
Data with information that involves business' marketing strategies 
d)
data involving colors
2.
What is an example of secondary data?
a)
you physically get the data
b)
you gather information from an outside source to help with your research
c)
data with numbers
d)
data with colors 
3.
What is an example of secondary research?
a)
Focus Group
b)
Observation
c)
Newspaper
d)
Questionnaire
4.
Which is the odd one out?
a)
Newspaper
b)
Magazines
c)
Books
d)
Questionnaires
5.
What is a problem with using secondary data?
a)
It is easy to find
b)
It is normally quicker to find
c)
You did not create it (it might be unreliable)
d)
You have to find the information yourself
6.
Information gathered on opinions, thoughts and feelings is....
a)
Qualitative
b)
Quantitative
7.

The difference between quantitative and qualitative data is that qualitative data can be expressed as a number.

a)

True

b)

False

8.

Finding a breakdown of the ethnic profile for a city on www.census.gov.

a)

Primary data

b)

Secondary data

9.

This orientation focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace.

a)

Production Orientation

b)

Sales Orientation

c)

Market Orientation

d)

Societal Marketing Orientation

10.

This marketing philosophy focuses on satisfying customer wants and needs while meeting organizational objectives.

a)

Production Orientation

b)

Sales Orientation

c)

Market Orientation

d)

Societal Marketing Orientation

11.
Which is a better definition of 'Demographic' segmentation?
a)
How customers behave; do they impulse buy?
b)
Features such as age, gender
c)
Customer lifestyle
d)
Where customers live
12.
What is market share?
a)
The amount of total sales over a time period
b)
The amount of total profit over a time period
c)
The amount of praise over a time period
d)
Taking a piece of the market
13.

What is the formula for Market share?

a)

Sales of one firm/Total market sales x 100

b)

Number of units sold x price

c)

change in size of market / original size x 100

14.

The process of dividing a market of potential customers into groups based on different characteristics is called

a)

Market Segmentation

b)

Market Analysis

c)

Demographics

d)

Consumer identification

15.

When a business divides its market on the basis of where its customers live is called

a)

geographic segmentation

b)

demographic segmentation

c)

psychographic segmentation

d)

behavioral segmentation

16.
A complement example would be all except
a)
butter and margarine 
b)
peanut-butter and jelly
c)
flashlight and batteries 
d)
cameras and film 
17.
When replacing a certain item with with a less costly item is an example of
a)
the substitution effect 
b)
the income effect 
c)
demand elasticity 
d)
complements 
18.
An increase in the number of consumers can cause 
a)
the demand curve to shift left
b)
the demand curve to shift right 
c)
the demand curve to shift up
d)
diminishing returns 
19.
Products that tend to be used together 
a)
complements 
b)
substitutes
c)
goods
d)
needs 
20.
Describes very little a change in demand with a large change in price 
a)
elastic 
b)
inelastic 
c)
demand curve 
d)
price 
21.
Consumers demand more of this type of good when their income rises.
a)
Normal good
b)
Inferior good
c)
Elastic good
d)
Substitution good
22.

If the income elasticity of market demand is negative, most consumers view the good as:

a)

a luxury good

b)

having many imperfect substitutes.

c)

an inferior good.

d)

a normal good.

23.

Which one is the correct formula for Income Elasticity of demand?

a)

Percentage change in income / Percentage change in quantity demand for a good

b)

Percentage change in quantity demand for a good / Percentage change in income

c)

Percentage change in supplied for a good / Percentage change in income

d)

Percentage change in quantity demand for a good / Percentage change in its price

24.

When YED value is positive and the value is 0.5

a)

Normal Good

b)

Inferior Good

c)

Luxury Good

d)

Necessity Goods

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