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Marketing Review Questions

Total questions: 56

Worksheet time: 28mins

Name
Class
Date
1.

Matching — Choose the marketing term that best fits the statement: The activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

a)

Marketing

b)

Promotion

c)

Public Relations

d)

Distribution

2.

Matching — Choose the marketing term that best fits the statement: Any form of communication used to inform, persuade, or remind.

a)

Advertising

b)

Promotion

c)

Publicity

d)

Personal Selling

3.

Matching — Choose the marketing term that best fits the statement: Amount of money available after all costs and expenses have been paid.

a)

Gross Margin

b)

Profit

c)

Markup

d)

Price Skimming

4.

Matching — Choose the marketing term that best fits the statement: No frills low price.

a)

Premium Pricing

b)

Economy Pricing

c)

Penetration Pricing

d)

Price Skimming

5.

Matching — Choose the marketing term that best fits the statement: A temporary high price charged because there is a substantial competitive advantage for a limited amount of time.

a)

Price Skimming

b)

Premium Pricing

c)

Penetration Pricing

d)

Economy Pricing

6.

Matching — Choose the marketing term that best fits the statement: A set of promotional activities designed to generate sales in the retail setting.

a)

Advertising

b)

Merchandising

c)

Public Relations

d)

Distribution

7.

Matching — Choose the marketing term that best fits the statement: The difference between the selling price and the product costs.

a)

Gross Margin

b)

Profit

c)

Markup

d)

Price Skimming

8.

Matching — Choose the marketing term that best fits the statement: A specific group of consumers who have similar wants and needs.

a)

Brand Name

b)

Target Market

c)

Retailers

d)

Marketing Mix

9.

Matching — Choose the marketing term that best fits the statement: An ongoing program of non-paid and paid communications.

a)

Promotion

b)

Public Relations

c)

Publicity

d)

Advertising

10.

Matching — Choose the marketing term that best fits the statement: Amount added to the cost of a product to set the selling price.

a)

Markup

b)

Gross Margin

c)

Profit

d)

Penetration Pricing

11.

Matching — Choose the marketing term that best fits the statement: Uses a high price where there is a uniqueness about the product or service.

a)

Premium Pricing

b)

Economy Pricing

c)

Price Skimming

d)

Penetration Pricing

12.

Matching — Choose the marketing term that best fits the statement: Communicating directly with potential customers to determine and satisfy their needs.

a)

Selling

b)

Personal Selling

c)

Advertising

d)

Public Relations

13.

Matching — Choose the marketing term that best fits the statement: Unique identification for a company’s products.

a)

Brand Name

b)

Target Market

c)

Marketing Mix

d)

Retailers

14.

Matching — Choose the marketing term that best fits the statement: The blending of four marketing elements – product, distribution, price, and promotion.

a)

Merchandising

b)

Marketing Mix

c)

Public Relations

d)

Distribution

15.

Matching — Choose the marketing term that best fits the statement: Any paid form of communication through mass media directed at identified consumers to provide information and influence their actions.

a)

Publicity

b)

Advertising

c)

Promotion

d)

Personal Selling

16.

Matching — Choose the marketing term that best fits the statement: Non-paid promotional communication presented by the media rather than by the business.

a)

Public Relations

b)

Publicity

c)

Advertising

d)

Merchandising

17.

Matching — Choose the marketing term that best fits the statement: The final business organization in an indirect channel of distribution for consumer products.

a)

Retailers

b)

Distribution

c)

Marketing

d)

Target Market

18.

Matching — Choose the marketing term that best fits the statement: Direct, individualized communication with prospective customers to assess their needs and assist them in satisfying those needs with appropriate products and services.

a)

Selling

b)

Personal Selling

c)

Advertising

d)

Promotion

19.

Matching — Choose the marketing term that best fits the statement: An artificially low price set to gain market share.

a)

Economy Pricing

b)

Penetration Pricing

c)

Price Skimming

d)

Premium Pricing

20.

Matching — Choose the marketing term that best fits the statement: Locations and methods used to make a product or service available to the target market.

a)

Distribution

b)

Merchandising

c)

Marketing Mix

d)

Advertising

21.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the following target market represents the general personality, behavior, lifestyle, rate of use, repetition of need, benefits sought, and loyalty characteristics of your customers.

a)

Geographics

b)

Demographics

c)

Psychographics

d)

Behaviors

22.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which stage of the product planning process produces and tests the product in a small part of the market and analyzes/modifies results as needed.

a)

Limited Production & Test Marketing

b)

Idea Development

c)

Full-Scale Production

d)

Idea Screening

23.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which pricing strategy attempts to increase the amount customers spend once they've started to buy (i.e., airlines charging for luggage).

a)

Psychological pricing

b)

Consumer to Consumer

c)

Optional product pricing

d)

Business to Educators

24.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: What are the 4 Ps.

a)

Product, price, patron, partner

b)

Product, price, place, promotion

c)

Publicity, public relations, primary, price

d)

Primary, price, place, partner

25.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the following is NOT one of the 7 marketing functions.

a)

Promotion

b)

Selling

c)

Pricing

d)

Media Buying

26.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which type of research study collects information by recording the actions of consumers rather than asking them questions.

a)

Surveys

b)

Experiments

c)

Observations

d)

Focus groups

27.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the 7 marketing functions communicates information about products and services to potential customers.

a)

Selling

b)

Pricing

c)

Financial Analysis

d)

Promotion

28.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the following target market represents the location, size of the area, density, and climate zone of your customers.

a)

Geographics

b)

Demographics

c)

Psychographics

d)

Behaviors

29.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the following is NOT a step in the consumer decision making process.

a)

Recognize a need

b)

Gather information

c)

Select and evaluate alternatives

d)

Build or grow the product on your own

30.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the 7 marketing functions obtains, manages, and uses market information to improve business decision-making and the performance of marketing activities.

a)

Distribution

b)

Marketing-Information Management

c)

Selling

d)

Product & Service Management

31.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the following is NOT a step in marketing research.

a)

Define the marketing problem

b)

Gather & analyze data

c)

Gross margin

d)

Propose a solution

32.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the following does NOT affect price.

a)

Weather

b)

Uniqueness

c)

Age

d)

Complexity

33.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: What provides protection and security for a product before it is used.

a)

Basic Product

b)

Brand Name

c)

Product Features

d)

Packaging

34.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which of the 7 marketing functions designs, develops, maintains, improves, and acquires products and services that meet consumer needs.

a)

Distribution

b)

Selling

c)

Marketing-Information Management

d)

Product & Service Management

35.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: A(n) ________ is an example of a Business to Business service.

a)

Telecommunications

b)

Personal Tax Accountant

c)

Hairdresser

d)

Tutor

36.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which stage of the product planning process studies the target market and develops the full marketing strategy.

a)

Idea Development

b)

Production & Financial Planning

c)

Idea Screening

d)

Limited Production & Test Marketing

37.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which type of research study presents two carefully controlled alternatives to subjects in order to determine which is preferred or has better results.

a)

Surveys

b)

Experiments

c)

Observations

d)

Focus Groups

38.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: All of the expenses of running a business that are associated with the product are called.

a)

Operating expenses

b)

Product costs

c)

Selling Price

d)

Profit

39.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Which type of message gets consumers attention and gives simple information.

a)

After Purchase Messages

b)

Later Messages

c)

Early Messages

d)

End of Life Cycle Messages

40.

Multiple Choice — Identify the letter of the choice that best completes the statement or answers the question: Why do so many new products fail.

a)

Poor positioning

b)

Too little marketing support

c)

Product didn't deliver promised benefits

d)

All of these reasons

41.

True/False — Indicate whether the sentence or statement is true or false: Price is the easiest of the 4 Ps to change.

a)

True

b)

False

42.

True/False — Indicate whether the sentence or statement is true or false: Mass promotion is the most expensive form of communication.

a)

True

b)

False

43.

True/False — Indicate whether the sentence or statement is true or false: Highly complex and technical products typically have higher prices than simple products.

a)

True

b)

False

44.

True/False — Indicate whether the sentence or statement is true or false: Products that are in high demand typically have a lower price.

a)

True

b)

False

45.

True/False — Indicate whether the sentence or statement is true or false: McDonald’s Value Meals are an example of promotional pricing.

a)

True

b)

False

46.

True/False — Indicate whether the sentence or statement is true or false: In retailing, products are called merchandise.

a)

True

b)

False

47.

True/False — Indicate whether the sentence or statement is true or false: Surveys use a small number of consumers to take part in group discussions and talk about their experiences with a product.

a)

True

b)

False

48.

True/False — Indicate whether the sentence or statement is true or false: A markdown is the amount added to the cost of a product to set the selling price.

a)

True

b)

False

49.

True/False — Indicate whether the sentence or statement is true or false: Advertising is the most effective form of promotion.

a)

True

b)

False

50.

True/False — Indicate whether the sentence or statement is true or false: Services are intangible and are consumed at the same time they are produced.

a)

True

b)

False

51.

What is marketing?

a)

The action of promoting and selling services, including market research.

b)

A boy named Mark who is dancing.

c)

The action of promoting products to be sold less than other products, including advertising.

d)

The business of promoting and selling products, including market advertising.

52.
A group of people or companies who want a product or service and are willing and able to buy it.
a)
price
b)
product
c)
advertising
d)
market
53.
What is marketing?
a)
The attributes of goods or services
b)
Both A and C
c)
The action of promoting and selling products or services.
d)
One that is heavily regulated by the government.
54.

What is the role of 'promotion' in the marketing mix?

a)

To determine the price of a product

b)

To inform, persuade, and remind customers about a product

c)

To design the product

d)

To distribute the product

55.

Which element is NOT part of the traditional marketing mix (4 Ps)?

a)

Product

b)

Price

c)

Promotion

d)

People

56.

_____ is an overall and coordinated approach for connecting an audience with a product or service that will meet the audience's need

a)

marketing

b)

branding

c)

positioning

d)

promotion