Free Printable PBMF Final 2024

1.

A specific group of consumers that an organization selects as the focus of its marketing plan.

a)

market

b)

clients

c)

customers

d)

target market

2.

Tangible goods, such as a baseball, or a cellphone.

a)

services

b)

wants

c)

product

d)

needs

3.

The process of developing, promoting, and distributing goods and services to satisfy customer’s needs and wants.

a)

marketing concept

b)

marketing mix

c)

market

d)

marketing

4.

Studies of consumers based on social and psychological characteristics, such as attitudes, interests, and opinions.

a)

market segmentation

b)

demographics

c)

psychographics

d)

geographics

5.

Potential customers with shared needs who have the desire and ability to buy a product.

a)

market

b)

target market

c)

clients

d)

customers

6.

Things that people desire based on personality, experiences, or information about a product.

a)

wants

b)

needs

c)

tangible

d)

intangible

7.

Basic necessities such as food, clothing, shelter.

a)

wants

b)

needs

c)

tangible

d)

intangible

8.

Intangible goods, such as a movie ticket or an insurance company.

a)

services

b)

goods

c)

wants

d)

services

9.

Statistics that describe a population in terms of personal characteristics, such as income, age, and occupation.

a)

behavioristics

b)

demographics

c)

geographics

d)

psychographics

10.

Statistics about where people live.

a)

demographics

b)

behavioristics

c)

geographics

d)

psychographics

11.

A combination of four basic marketing strategies: product, place, price, promotion.

a)

market segmentation

b)

marketing

c)

market

d)

marketing mix

12.

Statistics about consumers based on their knowledge, attitudes, use, or response to a product.

a)

demographics

b)

behavioristics

c)

geographics

d)

psychographics

13.

The path a product takes from the producer to the consumer.

a)

target market

b)

market

c)

marketing concept

d)

channel of distribution

14.

The idea that companies need to satisfy their customers while also trying to reach their company’s goals.

a)

marketing concept

b)

marketing

c)

marketing mix

d)

market segmentation

15.

A way of analyzing a market by categorizing specific characteristics.

a)

marketing mix

b)

target market

c)

market segmentation

d)

marketing concept

16.

Concept, cause, issue, image, or philosophy that can be marketed.

a)

price

b)

marketing mix

c)

channel

d)

idea

17.

Money that a business has left after all the expenses and costs of running the business are paid.

a)

idea

b)

selling

c)

profit

d)

channel

18.

Amount of money requested or exchanged for a product.

a)

Product service management

b)

target market

c)

purchase incentive

d)

price

19.

Anything that can be bought or sold.

market planning

a)

market planning

b)

public relations

c)

product

d)

promotion

20.

Activities involved in getting a product or service to the end users, and is also known as distribution.

a)

marketing mix

b)

place

c)

marketing information management

d)

channel management

21.

Physical item that can be touched.

a)

purchase incentive

b)

channel

c)

good

d)

marketing plan

22.

Process of communicating with potential customers in an effort to influence their buying behavior.

a)

promotion

b)

public relations

c)

purchase incentive

d)

product/service management

23.

Type of promotion that focuses on creating a positive image of a company rather than the product.

a)

public relations

b)

customer

c)

target

d)

dynamic

24.

Plan of action for marketing a product; it consists of the decisions made about each of the four Ps for that product.

product

a)

product

b)

market planning

c)

marketing mix

d)

good

25.

Specific group of customers at whose needs a company will focus on satisfying with its products and services.

a)

channel management

b)

public relations

c)

good

d)

target market

26.

Degree to which customers are pleased with a company's goods or services.

a)

market planning

b)

customer satisfaction

c)

channel

d)

channel management

27.

Item that helps persuade a customer to make a purchase, such as rewarding loyal customers with discounts or free products.

a)

dynamic

b)

public relations

c)

purchase incentive

d)

marketing concept

28.

Element of product, price, place, and promotion.

a)

place

b)

four Ps of marketing

c)

profit

d)

marketing concept

29.

Handling activities involved in getting products through the different routes from the producers to the customers.

a)

purchase incentive

b)

dynamic

c)

profit

d)

channel management

30.

Gathering and analyzing information about markets, customers, industry trends, new technology, and the competing businesses.

a)

public relations

b)

place

c)

marketing-information management

d)

four Ps of marketing

31.

GDP stands for?

a)

Gross Domestic Product

b)

Goods, Demand, Products

c)

Gross Drastic Price

d)

Grand, Dollar, Price

32.

a)

Demand

b)

Supply

c)

Opportunity Cost

d)

Average Total Cost

33.

This part of the market determines DEMAND

a)

buyers

b)

sellers

c)

suppliers

d)

store owners

34.

Which of the following is a part of a persons Human Capital

a)

Knowledge

b)

Skills

c)

Experience

d)

All of these

35.

This refers to all the skills and knowledge that people have

a)

human labor

b)

human capital

c)

capital wage

d)

asset capital

36.

Which of the following factors contributes to the economic growth of a country?

a)

How rich they are

b)

How many people live in that country

c)

How productive that country is

37.

What does this curve represent?

a)

supply

b)

equilibrium

c)

demand

d)

surplus

38.

The human ability to produce a good or service: Talents, skills, physical labor, etc. the work that goes into the production of a good or service.

a)

Human resources or Labor

b)

Land

c)

Capital

d)

Entrepreneurship

39.

A mechanic is a

a)

natural resource

b)

human resource

c)

capital resource

40.

If a country is more productive than another country, it:

a)

Produces more goods and services

b)

Has more people

c)

Earns more money

41.

Economists use the word "Labor" to refer to...

a)

Work hours and effort used in production

b)

The knowledge people use in order to produce goods & services

c)

Tools used in the production of goods and services

d)

All of the Above

42.

Why is Human Capital Important

a)

It isn't

b)

It gives a person value in the labor force

c)

It limits what a person can do FOREVER!

d)

it is something people can't have control over .;

43.

Economic productivity refers to:

a)

How many goods and services can be produced

b)

How many people are producing goods and services

c)

How much money a country earns each year

44.

An unemployed factory worker is under what factor of production?

a)

Labor

b)

Capital

c)

Natural resource

d)

Land

45.

This part of the market determines SUPPLY

a)

buyers

b)

sellers

c)

consumers

d)

us

46.

Why are some countries rich, while other countries are poor?

a)

Rich countries have more natural resources than poor countries

b)

Rich countries have a higher population that poor countries

c)

Rich countries are more productive than poor countries

47.

A group of buyer and sellers of a particular good or service

a)

Supply

b)

Demand

c)

Agency

d)

Market

48.

What does this curve represent?

a)

demand

b)

supply

c)

equilibrium

d)

shortage

49.

a)

Supply

b)

Quantity

c)

Wage

d)

Labor

50.

The stock of skill and expertise of nation at a point of time is called

a)

Human capital

b)

Human development

c)

Human capital formation

51.

Investment in ___ is considered as one of the main sources of human capital

a)

Education

b)

Health

c)

On job-training

d)

All the above

52.

Human capital is Tangible

a)

True

b)

False

53.

Which of the following is a human resource?

a)

farmers

b)

rocks

c)

tractors

d)

hammers

54.

A teacher who provides a service is an example of a.....

a)

Natural Resource

b)

Human Resource

c)

Capital Resource

d)

All of the above

55.

What is a human resouce?

a)

People who work to make a goods or services.

b)

Things that come from nature.

c)

A factory machine.

d)

A good used to make other goods.

56.

What is an example of Human Capital? Select all that apply

a)

On the Job training

b)

A company wanting to expand

c)

Graduating with a degree

d)

Losing the cash in your wallet

57.

Which of the following is an investment in your own Human Capital? Select all that apply

a)

On the job training

b)

Getting an college degree

c)

Attending a workshop in your occupation

d)

Donating clothes to the local Goodwill

58.

What would cause one job to pay more than another?

a)

The age of the individual

b)

The number of french fries the person can eat in a minute

c)

How much fun they have while they work

d)

The length of training, level of education, and the difficulty of the job

59.

Brian is a mechanic. Which of the following ways can he increase his Human Capital?

a)

Working on multiple cars at the same time

b)

Asking his employer for a raise

c)

Attending classes to improve his skills

d)

Hoping for a promotion without actually in any of the work

60.

A couple just moved into a new home, but they want to get the carpets redone. Which factor would Not affect the amount the carpet installer gets paid?

a)

The number of years the person has been installing carpets

b)

How many hours the carpet installer works

c)

How many vehicles he owns

d)

The special skills the carpet installer has

61.

How might your current Human Capital differ from your future Human Capital?

a)

Your level happiness

b)

How much you are currently being paid

c)

You have less skills and work experience

d)

Your boss being fired/quitting

62.

True or False, Human Capital is a persons level of education, job experience, and skills

a)

True

b)

False

63.

People as a resource means

a)

None

b)

Country's natural capital in terms of their existing productive skills

c)

Country's fixed capital in terms of their existing productive skills

d)

Country's working capital in terms of their existing productive skills

64.

use of physical capital does not depend on human capital.

a)

true

b)

false

65.

_________________ capital cannot be separated from the owner, whereas, ___________ capital can be separated form owner.

a)

human, physical

b)

physical, human

66.

A ________analysis is based on a customers changes in attitudes, lifestyles, and opinions.

a)

Demographic

b)

Social-Cultural(Psychographics)

c)

Geographic

d)

Behavioral

67.

The change in climate of the city, where a product is being sold will affect the __________region of the marketing plan.

a)

Geographic

b)

Demographic

c)

Psychographic

d)

Telepathic

68.

A customers interest in playing basketball can help a marketer determine his/her ______.

a)

Psychographic criteria

b)

Geographic criteria

c)

Demographic criteria

d)

Behavioral criteria

69.

Knowing a customers family size can not help determine the demographics of the target market.

a)

TRUE

b)

FALSE

70.

Ms. Montford's loyalty to purchasing only coach handbags will help in determining the_____ aspect of a Market Segmentation analysis.

a)

Target Market

b)

Behavioral

c)

Demographic

d)

Geographic

71.

___________ is a method used to identify customers with similar wants and needs.

a)

Selling

b)

Planning

c)

Market Segmentation

d)

Sales pitch

72.

Which market segmentation method is selected when classifications of age, gender, income, or family size is utilized.

a)

Behaviorial

b)

Psychographic

c)

Demographic

d)

Geographic

73.

Type of promotion that encourages a consumer to be a repeat buyer of a product, service or brand.

a)

trending concept

b)

a name brand or logo

c)

A reader board

d)

loyalty program

74.

How many market segmentations are there?

a)

4

b)

8

c)

2

d)

10

75.

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

76.

Which of these is NOT a Demographic characteristic, or a statistical way of grouping people that is tracked in the US Census?

a)

Age

b)

Household Income

c)

Race

d)

Political preference

77.

Which of these answer includes ONLY examples of demographics?

a)

Marital status, religion, ethnicity

b)

Household income, gender, race

c)

Age, geographical location, gender

d)

Race, age, hobbies

78.

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

79.

Targeting a group of potential consumers using psychographic characteristics might include using data about

a)

music preferences

b)

race

c)

age

d)

gender

80.

A business' target market includes

a)

Everyone

b)

All the people who might use a product or service

c)

The specific people that the company is aiming to reach with its marketing and sales efforts

d)

One segment of the market

81.

Which market segment would this product appeal to?

a)

High income, males, 18+, who enjoy fast cars

b)

Low income, young, females, who enjoy fast cars

82.

The change in climate of the city, where a product is being sold will affect the __________region of the marketing plan.

a)

Geographic

b)

Demographic

c)

Psychographic

d)

Telepathic

83.

A customers interest in playing basketball can help a marketer determine his/her ______.

a)

Psychographic criteria

b)

Geographic criteria

c)

Demographic criteria

d)

Behavioral criteria

84.

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

a)

Mass customization

b)

Market targeting

c)

Market segmentation

d)

Differentiation

85.

Target market is the group of customers at which a product or service is aimed at?

a)

True

b)

False

86.

What is it called when you divide a market into a smaller more similar market?

a)

Marketing

b)

Similar Markets

c)

Market Segmentation

87.

A target market is defined as...

a)

Target practice for archery

b)

A group of people identified as potential buyers

c)

Demographics

d)

Psychographics

88.

Which options below describe demographics?

a)

Hobbies

b)

Annual Salary

c)

Location

d)

Likes/Dislikes

89.

Personal characteristics that make up a target market.

a)

Behavioral

b)

Demographics

c)

Psychographics

d)

Geographics

90.

Social lifestyles of a target market.

a)

Psychographics

b)

Behavioral

c)

Demographics

d)

Geographics

91.

Which option below is an example of a psychographics?

a)

Gender

b)

Attitudes

c)

Location

d)

Customer Loyalty

92.

Segmenting the market based on where people live.

a)

Behavioral

b)

Demographics

c)

Psychographics

d)

Geographics

93.

Segmenting the market based on product related behavior.

a)

Behavioral

b)

Geographics

c)

Psychographics

d)

Geographics

94.

Which one is an example of behavioral?

a)

Annual Income

b)

Purchasing the same brand of a product consistently

c)

Where you live

d)

Hobbies

95.

The target market is a male, 35-45, annual income of $60,000. Which one shows how this target market is described?

a)

Behavioral

b)

Demographics

c)

Geographics

d)

Psychographics

96.

Elements involved in marketing a good or service that interact significantly with each other.

a)

Marketing Mix

b)

Product

c)

Place

d)

Price

97.

A good, service, or idea that is created for the purpose of satisfying a need or a want

a)

Marketing mix

b)

Place

c)

Product

d)

Price

98.

The advancement of a product, idea, or point of view through publicity and/or advertising.

a)

Promotion

b)

Place

c)

Product

d)

Price

99.

The product is properly distributed and available in a convenient location at the right time.

a)

Promotion

b)

Place

c)

Product

d)

Price

100.

What the customer is charged.

a)

Promotion

b)

Place

c)

Product

d)

Price

101.

In order for the consumer to buy the product they ______ must be greater than the _______.

a)

Value, Price

b)

Price, Value

c)

Promotion, Place

d)

Place, Marketing Mix

102.

A product, service, or idea whose absence would cause a significant negative impact to the consumer's life

a)

Need

b)

Want

c)

Good

d)

Service

103.

A product, service, or idea that is not nessary to the consumer, but is desired

a)

Need

b)

Want

c)

Good

d)

Service

104.

A tangible (you can touch it) item that is for sale

a)

Need

b)

Want

c)

Good

d)

Service

105.

Performing a task for the consumer because they do not want to do

a)

Need

b)

Want

c)

Good

d)

Service

106.

An attempt to communicate a brand, product, or concept to the general public by creating a strong message.

a)

Idea

b)

Want

c)

Good

d)

Service

107.

Mary Jane makes soap at her house. She packages it and sells it to a nearby craft store, “Craft Barn.” Each bar costs her $1.25 to make. She sells the bars to the Craft Barn for $3.00 each. The Craft Barn then sells it for $6.00. This month she sold 50 bars. What is the production cost?

a)

$1.25

b)

$3.00

c)

$6.00

d)

$1.75

108.

Mary Jane makes soap at her house. She packages it and sells it to a nearby craft store, “Craft Barn.” Each bar costs her $1.25 to make. She sells the bars to the Craft Barn for $3.00 each. The Craft Barn then sells it for $6.00. This month she sold 50 bars. What is the profit margin?

a)

$1.25

b)

$3.00

c)

$6.00

d)

$1.75

109.

Mary Jane makes soap at her house. She packages it and sells it to a nearby craft store, “Craft Barn.” Each bar costs her $1.25 to make. She sells the bars to the Craft Barn for $3.00 each. The Craft Barn then sells it for $6.00. This month she sold 50 bars. If she sells 50 bars, would would be the profit?

a)

$87.50

b)

$53.75

c)

$47.50

d)

$25.00

110.

Mary Jane makes soap at her house. She packages it and sells it to a nearby craft store, “Craft Barn.” Each bar costs her $1.25 to make. She sells the bars to the Craft Barn for $3.00 each. The Craft Barn then sells it for $6.00. This month she sold 50 bars. What is the wholesale price?

a)

$1.25

b)

$3.00

c)

$6.00

d)

$1.75

111.

Mary Jane makes soap at her house. She packages it and sells it to a nearby craft store, “Craft Barn.” Each bar costs her $1.25 to make. She sells the bars to the Craft Barn for $3.00 each. The Craft Barn then sells it for $6.00. This month she sold 50 bars. What is the retail price?

a)

$1.25

b)

$3.00

c)

$6.00

d)

$1.75

112.

Emblem that promotes instant public recognition

a)

Logo

b)

Jingle

c)

Slogan

113.

"Melt's in your mouth not in your hands."

a)

Logo

b)

Jingle

c)

Slogan

114.

"Give me a break, Give me a break, Break me off a piece of that Kit-Kat Bar!"

a)

Logo

b)

Jingle

c)

Slogan

115.

Which two parts of the distribution channel are part of a Direct-to-Consumer Model?

a)

Producer

b)

Customer

c)

Retailer

d)

Wholesaler

116.

Purchases items in bulk for cheaper and packages them individually

a)

Producer

b)

Customer

c)

Retailer

d)

Wholesaler

117.

Develops relationships with consumers to sell individual products

a)

Producer

b)

Customer

c)

Retailer

d)

Wholesaler

118.

Hasboro purchases the right to create Avengers actions figures from Marvel who own the intellectual property. What is this called?

a)

Licensing

b)

Marketing Mix

c)

Intellectual Property Rights

d)

Jingles

119.

The government discourages competition among businesses.

a)

True

b)

False

120.

The Small Business Administration provides low-cost loans, advice and other assistance to small businesses.

a)

True

b)

False

121.

Which of the following is NOT a type of service provided by the government?

a)

library

b)

restaurant

c)

police/fire

d)

schools

122.

Governmental activities support both businesses and consumers.

a)

True

b)

False

123.

Democrats and Republicans are the two major ____________________ of the United States.

a)

branches

b)

government agencies

c)

political parties

d)

groups

124.

What is the job of a judge in the United States?

a)

to interpret laws

b)

to create new laws

c)

to enforce the laws

d)

to treat people differently

125.

Government is involved in settling business disagreements through the use of

a)

Force

b)

Negotiation

c)

Fines

d)

Courts

126.

Which of the following is a positive effect of government regulation:

a)

Price controls

b)

Legal protection

c)

Unfair competition

d)

Increased inflation

127.

The role of a federal government is to . . .

a)

provide services for citizens

b)

protect consumers, businesses, and workers

c)

Regulate and promote competition

d)

all of the above

128.

The three types of government are . . .

a)

local

b)

social

c)

federal

d)

state

129.

Which of the following correctly lists the three branches of government?

a)

Executive, legislative, judicial

b)

Judicial, administrative, and sheriffs

c)

Administrative, legislative and sheriffs

d)

Executive, statutory and administrative

130.

Which of the following accurately defines tariff?

a)

Law based on precedents established by judges decisions

b)

A tax paid on land, structures and other property owned

c)

A special tax placed on foreign goods sold in the United States

d)

Law set forth by administrative agencies and commissions

131.

Major factors influencing international business

a)

Geographic, social, economic, political

b)

Financial, linguistic, climate

c)

Cultural, historical

d)

Economic, political

132.

Important cultural and social factors influencing international business

a)

Religious beliefs and traditions

b)

Wealth, health and economic situation

c)

Language, religion, education, values, traditions

d)

Language and traditions

133.

Who provides this service, a business, or the government?

a)

Business

b)

Government

134.

Who provides this service, a business, or the government?

a)

Business

b)

Government

135.

Who provides this service, a business, or the government?

a)

Business

b)

Government

136.

The Federal Reserve seeks an unemployment rate below _____________ percent.

a)

2.8

b)

3.4

c)

6.5

137.

Culture is the accepted behaviors, customs and values of a society.

a)

True

b)

False

138.

Which of the following best defines unemployment?

a)

The state of being able to work and actively seeking work, but unable to find employment

b)

The state of being able to work, but choosing not to

c)

The percentage of the labour force that is able and actively seeking work, but cannot find employment

d)

The total number of people who do not work

139.

Government tries to protect competition by

a)

controlling the prices of products.

b)

restricting the production of certain products.

c)

regulating monopolies.

d)

preventing all monopolies.

140.

A good or service produced in the home country and sold in another country.

a)

import

b)

export

141.

A good or service brought in from another country for sale.

a)

import

b)

export

c)

tariff

142.

A means of preventing a foreign product or service from freely entering a nation's territory.

a)

trade surplus

b)

trade embargo

c)

trade barriers

143.

A tax on imported goods.

a)

import

b)

export

c)

tariff

144.

A limit on the amount of a good that can be imported.

a)

import quota

b)

export quota

145.

A trade agreement that eleminates barriers between the United States, Canada, and Mexico.

a)

ASEAN

b)

EU

c)

NAFTA

146.

A ban; government prohibits the import of that item.

a)

embargo

b)

standard

c)

subsidy

147.

Government sets regulations to ensure safety of goods.

a)

embargo

b)

standard

c)

subsidy

148.

Government makes payments to local suppliers to reduce the production costs of the supplier.

a)

embargo

b)

standard

c)

subsidy

149.

This trade barrier limits the number of products that can be brought into a country.

a)

Tariff

b)

Quota

c)

Embargo

d)

Subsidy

150.

This is the most restrictive of the trade restrictions a nation can use to close off all importation of a product.

a)

tariff

b)

quota

c)

subsidy

d)

embargo

151.

If nations limit trade in of clothing who will benefit?

a)

Domestic Consumers of clothing

b)

Domestic producers of clothing

c)

Foreign Producers of clothing

d)

department stores who sell clothing

152.

If nations limit trade in of clothing who will benefit?

a)

Domestic Consumers of clothing

b)

Domestic producers of clothing

c)

Foreign Producers of clothing

d)

department stores who sell clothing

153.

The main justification for an embargo on foreign goods is to

a)

Punish a nation

b)

raise revenue

c)

Increase consumption or the good

154.

Who will be hurt by a tariff on medicine coming into the US.

a)

US medical companies

b)

US government revenue

c)

Sick people in US

155.

1. This country has the largest population in the world.

a)

USA

b)

Russia

c)

China

156.

2. This country is the largest in the world by area and has a mixed economy.

a)

Qatar

b)

Russia

c)

Japan

157.

This country is the U.S.’s 2nd largest trade partner thanks to NAFTA.

a)

Mexico

b)

Canada

c)

Chili

158.

Which is one of the ways of doing business overseas?

a)

Internet

b)

Antidumping

c)

Countervailing Duties

d)

Buy America

159.

Which of the following is an example of globalization?

a)

A business that has multiple branches

b)

A business that has multiple owners

c)

A business that has its headquarters and factories in different countries

160.

Which of the following are benefits of globalization? Check all that apply.

a)

Access to new cultures

b)

Local job loss

c)

Lower costs for products

d)

Foreign worker exploitation

161.

Which of the following are cultural aspects that affect global marketing? Choose all that apply.

a)

Language

b)

Product specialization

c)

Time & Punctuality

d)

Business Norms

162.

What is one example of business etiquette?

4 lines

163.

Buying goods and services from another country is considered?

a)

Exporting

b)

Importing

164.

Selling goods and services to another country is considered?

a)

Exporting

b)

Importing

165.

What is a balance of trade?

a)

when the value of imports exceeds the value of exports

b)

when the value of imports is equal to the value of exports

c)

when the value of exports exceeds the value of imports

d)

when the value of money exceeds the amount of goods and services trade

PBMF Final 2024

Total questions: 165

Worksheet time: 2hrs 0mins

Similar Resources on Wayground