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WorksheetsPrinciples of Marketing
Total questions: 57
Worksheet time: 57mins
_____ concept holds that consumers will favor products that are available and highly affordable.
Product
Selling
Marketing
Production
When backed by buying power, wants become _____.
benefits
offerings
needs
demands
Which is the first step in the marketing process?
Designing a customer-driven marketing strategy.
Preparing an integrated marketing plan and program.
Understanding the marketplace and customer needs.
Building customer relationships
_________ are a combination of products, services, and experiences offered to a market to satisfy a need or want.
Market
Marketing offerings
Exchange
Value and Satisfaction
_________ is the set of all actual and potential buyers of a product or service.
Market
Product
Exchange
Needs
Which of the following is ONE of the 5 alternative concepts that companies use to carry out their marketing strategy?
Societal Marketing Concept
Placement Concept
Marketing Strategy
Customer Satisfaction
______________ is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
Customer service
Customer Relation
Customer Relationship Management
Customer
Which of the following is a function of promotion?
advertising
market research
improving products
budgeting for marketing activities
What is the first step in the consumer decision-making process?
recognize a need
make a purchase decision
select and evaluate alternatives
gather information
This type of marketing research study gathers information from people using a carefully planned set of questions.
secondary research
experiment
observation
survey
After several new product ideas have been generated, companies will most likely
produce a limited quantity of each product and test them to see which are the most popular
evaluate the ideas to determine which have the best opportunitiy to succeed.
develop full marketing strategies for each of them.
determine a production procedures for the products.
Businesses that take part in a channel of distribution are known as:
Distributors
Consumers
Retailers
Channel Members
Satisfaction occurs when _______________.
the performance meet or exceed customer's expectation.
the performance was lower than customer's expectation.
In which market individuals and households buy goods and services for personal consumption ?
Business markets
Reseller markets
Consumer markets
International markets
Identify the four steps customers go through as a part of everyday decision making.
problem recognition
information search
evaluation of alternatives
product choice.
All of them
Bill could not tell the Argonauts from the Stampeders during CFL Football on his tiny, antiquated black-and-white TV set! After he watched the second half of the game on his neighbour's big TV set, he realized there was a significant difference between his current state of affairs and a desired or ideal state. His perception is labelled:
fantasy aspiration.
problem recognition
latent response syndrome
hemispheric communication
Any individual who purchases goods and services from the market for his/her end-use is called a..................
Customer
Purchaser
Consumer
All these
------------- is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use.
Consumer behavior
Consumer interest
Consumer attitude
Consumer perception
________________ is one of the most basic influences on an individual’s needs, wants, and behaviour.
Brand
Culture
Product
Price
Understanding consumer buying behavior is not easy. The answers are often locked deep within the consumer’s head. The central question for marketers is:
How much money is the consumer willing to spend?
How much does the consumer need the product being offered for sale?
How much does a discount or a coupon affect the purchase rate?
How do consumers respond to various marketing efforts the company might use?
Creating an image for a product in the customer's mind is called:
Advertising
Labeling
Positioning
Distributing
Which of the following is a blending of the product, price, distribution (place), and promotion used to reach a target market?
Marketing Mix
Marketing concept
Marketing Strategy
Marketing Plan
Can you guess the exact price of this product?
total cost= $250.00
mark-up 15%
selling price= ????
$212.50
$287.50
$1,600.00
$265.00
__________are used to divide the total market for their product into smaller, more specific groups.
Geographic Data
Customer Survey
Behavioral Research
Market Segmentations Methods
When a business divides its market on the basis of where its customers live is called
geographic segmentation
demographic segmentation
psychographic segmentation
behavioral segmentation
A ________analysis is based on a customers changes in attitudes, lifestyles, values, and interests.
Demographic
Social-Cultural(Psychographics)
Geographic
Behavioral
Which of the following are important aspects of marketing
Developing products that answer consumer wants and needs.
Distributing products to where the consumers are.
Promoting the products in an effective way.
all of the above
Paid form of non personal communication of ideas, goods and services.
Advertisement
Personal Selling
Sales Promotion
Public Relations
From the picture given, guess the PR tool
Social Media
Brochures and Catalogues
Business events
Newsletter
__ are order placing machines
ATM
Kiosk
Radio
Television
Which is not main promotional tool?
Marketing mix
Sales promotion
Advertising
Public Relations
The use of short-term incentives to encourage the purchase or sale of a product is called
Advertising
Personal selling
Public relations
Sales promotion
IMC stands for _____.
Integrated
Mass Communication
Integrated
Monitored Communication
Integrated
Management Communication
Integrated
Marketing Communication
Which tool involves personal means of communication from companies to indovidual costomers (such as emails, text messages, fliers, catalogs, letters and postcards)?
Personal selling
Sales promotion
PR & publicity
Direct Marketing
Which tool increases selling for the short-term?
PR and Publicity
Personal selling
Direct marketing
Sales promotion
Which tool is also known as "event" marketing (when a company provides money or resources for an event or team in exchange for benefits like advertising its logo at an event)?
sponsorship
direct marketing
advertising
sales promotion
This involves the process and methods used to gather information, analyze it, and report findings related to marketing of goods and services
Survey Creation
Marketing Research
Advertising Selection
Marketing Discovery
A small number representative of a large group
Sample
Cohort
Analytics
Data Mining
The first step in Marketing Research is to
Collect the Data
Identify and Define the Problem
Develop the Process for Data Collection
Analyze & Report the Data
Data is_____________
a collection of facts and figures
useful if it is organised
unprocessed information
All of the above
Information is______________ that is valuable and meaningful to a specific user.
raw data
picture data
primary data
processed data
_______ data refers to the data which is readily available.
Secondary
Primary
Outdated
_______ data is the first hand information collected for research.
Secondary
Primary
Outdated
a small group of consumers asked to test a possible product. An example might be taste testing a new cereal or ice cream flavor
survey sample
target market
focus group
club
What is the standard chains of distribution for H&M stores
Product->
Consumers
product->
Wholesale->
Retail->
Consumers
Product->
Retail->
Consumers
Product->
Agent->
Wholesale->
Retail->
Consumers
Why are Channels of Distribution needed in Marketing?
They adjust differences between producers and consumers
They provide marketing functions
They increase marketing efficiency
All of the above
A channel of distribution is made up of the organizations and individuals who participate in the movement and exchange of products and services from the producer to the final consum
True
False
In a direct channel, the producer sells directly to the final consumer
True
False
A retailer is the final business organization in an indirect channel of distribution for consumer products.
True
False
Creating an image for a product in the customer's mind is called:
Advertising
Labeling
Positioning
Distributing
Which statement best describes "Price"?
The cost of producing items
The amount customers are charged for items
The profit earned from selling items
