WorksheetsMKT Principles Final Review
Total questions: 44
Worksheet time: 22mins
Name
Class
Date
1.
A customer relationship management (CRM) system is a technology system for managing all company interactions with current and potential:
a)
Customers
b)
Pipelines
c)
Products
d)
Analytics
2.
Which stage of the sales pipeline is where a company identifies potential customers?
a)
qualification
b)
prospecting
c)
nurturing
d)
retention
3.
Which stage of the sales pipeline is when a company converts the potential customer into an official sale?
a)
closure
b)
qualification
c)
prospecting
d)
retention
4.
The electronic storage of large amounts of company information is:
a)
sales data
b)
icloud
c)
data warehouse
d)
data mining
5.
The process of finding patterns and anomalies (irregularities) in data to predict outcomes is:
a)
customer retention
b)
account management
c)
data warehousing
d)
data mining
6.
Which term refers to the actions a company takes to keep, and maintain repeat customers?
a)
customer retention
b)
quote management
c)
sales force automation
d)
agent performance tracking
7.
Complete the sentence. The ____________ from a CRM can help a company see where patterns and problems may occur in a customer lifecycle and address those concerns quickly and proactively.
a)
leads
b)
analytics
c)
automation
d)
tracking
8.
What is the marketing concept?
a)
A marketing activity that involves making customers aware of an organization’s product or service, and convinces them that they want or need it.
b)
Informing potential customers that a product or service exists, and the results they should expect from using it.
c)
A marketing activity an organization engages in to collect data about existing customers’ perceptions of the organization.
d)
To analyze and identify the needs and wants of customers, and build strategies to satisfy those needs and wants, better and more effectively than its competitors.
9.
What role does marketing play in a private enterprise system?
a)
It limits the number of options people have for buying products and services.
b)
It provides the information customers need to make an appropriate buying decision.
c)
It connects customers with businesses that can meet their wants and needs.
d)
It prevents businesses from sharing information that isn’t relevant in meeting needs.
10.
To promote a product is to:
a)
inform potential customers that a product or service exists, and the results they should expect from using it
b)
hire more people, which creates more jobs, which increases tax revenues.
c)
engage in the process of collecting data about existing customers’ perceptions of the product and organization.
d)
to analyze and identify the needs and wants of customers, and build strategies to satisfy those needs and wants, better and more effectively than its competitors.
11.
What is an example of a durable good?
a)
a pencil
b)
a play
c)
a sandwich
d)
a truck
12.
What is an example of a nondurable good?
a)
a car
b)
a granola bar
c)
a smartphone
d)
an LED light bulb
13.
Which of the following is a service?
a)
Mac laptop computer
b)
Hulu streaming service
c)
Merriam-Webster dictionary
d)
Breckenridge ski resort
14.
What is one result of competition?
a)
higher taxes from the government
b)
an increase in job creation
c)
more buying options for customers
d)
a reasonable profit margin
15.
Pest control is an example of a:
a)
experience
b)
event
c)
service
d)
organization
16.
Define a target market.
a)
the specific group of customers who are most likely to buy a product or service.
b)
getting the right products, to the right people, at the right price, in the right place, and at the right time.
c)
individualized attention provided and available to customers throughout their lifespan as customers.
d)
the group of customers that are part of a marketing research group
17.
What is a "bottleneck"?
a)
a point of congestion
b)
a marketing function
c)
a type of shipping
d)
a management strategy
18.
Which of the following is an element of marketing-information management?
a)
researching relevant trends
b)
establishing a budget.
c)
updating a product.
d)
getting the word out.
19.
What is an example of excellent customer service?
a)
requesting customer feedback
b)
providing a link to customer support
c)
developing detailed product descriptions
d)
replacing a defective product
20.
Which marketing function deals establishing goals, objectives, processes and procedures?
a)
market planning
b)
selling
c)
channel management
d)
promotion
21.
Which is an example of a nonprofit organization using marketing?
a)
A toy store produces a television commercial to sell a new product.
b)
A church purchases an ad in a local newspaper to explain a holiday fundraiser.
c)
A pharmaceutical company does research to see where their latest medicines are most needed.
d)
A professional baseball team uses research to determine the best prices for its ticket sales.
22.
vWhich of the following is an example of a retail store?
a)
a software program
b)
a hospital
c)
a social media app
d)
a local pet store
23.
What is a person who identifies an opportunity and starts a business?
a)
public relations manager
b)
entrepreneur
c)
sports marketer
d)
healthcare provider
24.
Which of the following is the best definition for a trait?
a)
a learned physical ability
b)
a personal quality or characteristic
c)
a technical skill developed over time
d)
a personal belief or practice
25.
Which trait deals with being ready and comfortable with change?
a)
being adaptable
b)
being a lifelong learner
c)
being customer focused
d)
being committed
26.
Which of the following best describes the difference between a skill and a trait?
a)
A trait is a learned behavior, whereas a skill is a personal quality.
b)
A trait is a personal characteristic, whereas a skill is a learned behavior.
c)
A trait is something developed by practice, whereas a skill automatically happens.
d)
A trait is a learned behavior, whereas a skill is a unique ability.
27.
What is diversity?
a)
reexamining facts and remaining objective
b)
bringing a wide range of talent and ideas to a team
c)
including and involving people from different backgrounds
d)
working together at the same time to complete tasks
28.
Which image best represents a diverse team?
a)
A team of men of different ethnicities.
b)
A team of African-American women and men.
c)
A team of Latina women.
d)
A team of women and men of different ethnicities.
29.
What are the first steps to forming an idea?
a)
Define and demand
b)
Brainstorm and solve
c)
Observe and empathize
d)
Design and test
30.
Which of the following does NOT encourage people to accept new ideas?
a)
Asking Questions
b)
Listening carefully
c)
Being emotional
d)
Involving others
31.
Which word best completes the sentence?
By maintaining a growth mindset, objections can be seen as ________________ to develop and grow.
a)
opportunities
b)
beliefs
c)
complications
d)
feelings
32.
Which word best completes the sentence?
Constructive criticism provides _______________ information.
a)
limited
b)
useless
c)
valuable
d)
simple
33.
Which communication style is goal-oriented, straight-forward, makes decisions quickly, but may be viewed as insensitive?
a)
director
b)
expresser
c)
thinker
d)
harmonizer
34.
Which communication style is people-oriented, animated, and thinks out loud, but may be unfocused?
a)
director
b)
expresser
c)
thinker
d)
harmonizer
35.
Which communication style is task-oriented, deliberate, and aware of right and wrong, but may also be procrastinators?
a)
director
b)
expresser
c)
thinker
d)
harmonizer
36.
Which step completes the list?
After collecting customer complaint information, the next steps are to:
• Discuss options for fixing the problem
• Offer and agree on the proper fix
• Act quickly to implement the fix
• ______________________
a)
Send the customer a discount code for future purchases.
b)
Follow up with the customer to ensure they are happy.
c)
Get all of the facts, and record the details.
d)
Ask the customer to complete a survey about their experience.
37.
Distribution patterns are used to achieve:
a)
maximum market exposure
b)
minimum market exposure
c)
selective distribution
d)
optimum market exposure
38.
If, for example, a retailer is not satisfied with delays in delivery times from their wholesaler, this is an example of:
a)
horizontal conflict
b)
selective distribution
c)
channel intensity
d)
vertical conflict
39.
If one retailer disagrees with the way another retailer is representing the company’s brand, and is therefore is casting a bad image about the company, this is called:
a)
horizontal conflict
b)
selective distribution
c)
channel intensity
d)
vertical conflict
40.
Which of the following is an example of a direct channel, whereby the producer sells directly to the end user?
a)
Costco
b)
Teresa’s Dress Manufacturing sells to Sarah’s Dress Shop
c)
a dentist filling a cavity
d)
a wholesaler selling to a retail store
41.
The ultimate goal for channels of distribution, and for each channel member, is to get products from:
a)
retailers to ultimate consumers
b)
wholesalers to retailers
c)
producers to end users
d)
wholesalers to industrial users
42.
Lamborghini and Ferrari would most likely use this type of distribution pattern:
a)
agency
b)
intensive distribution
c)
selective distribution
d)
exclusive distribution
43.
End users benefit from more channels of distribution as:
a)
they have more credit card options available to them
b)
all retailers have online shopping access to different products
c)
they have more access to more products in more places
d)
better agents are in the supply chain
44.
Bonus Question worth 50 points:
What are the 8 marketing functions? Which of them make up the 4 P's
4 lines
100 %
