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WorksheetsMKT Set 5
Total questions: 10
Worksheet time: 5mins
Extensive decision making
does not usually involve all five steps of the decision-making process.
is normally made for expensive purchases.
is common in business purchases but rarely used in consumer purchases.
usually takes less time than limited decision making.
Which of the following is not a benefit of competition?
It offers consumers a wide choice of products and services.
It encourages product improvement and innovation.
It guarantees low employment rates and low inflation rates.
The consumer receives the best price for the product.
A restaurant that advertises an all-you-can-eat dinner buffet for $3.95 is probably engaging in
price competition.
direct competition.
market competition.
attribute competition.
Businesses engage in which of the following activities to gain information about the competition?
collect and study newspaper and magazine articles
purchase and analyze competitor's products
study customers and customer records
All of these choices are correct.
An exhibition where companies associated with an industry gather to showcase their products is called a(n)
trade show.
flea market.
target market.
job fair.
A ___ is a website where one person regularly posts commentary, descriptions, or other content in a journal-like format.
social network
virtual collaboration
blog
content community
During the maturity stage of the product life cycle,
sales peak and profits begin to decline.
prices rarely change.
advertising and promotion become less important because consumers already know about the product.
the product will be very basic, with few features or options.
Marketing plans are developed for a specific time period, often
five to ten years.
six months to one year.
two to five years.
three to six months.
Which of the following is typically not an element of a SWOT analysis?
weaknesses
opportunities
strengths
time factors
The description of the way marketing activities are planned and coordinated to achieve an organization's goals is called
evaluation procedure.
marketing strategy.
marketing plan.
internal analysis.
