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WorksheetsMarketing Worksheet Questions (Review Material)
Total questions: 70
Worksheet time: 35mins
In our free-enterprise society the three specific groups that benefit from effective marketing are: 1. consumers 2. society 3. merchandize 4. company
1,2,3
2,3,4
1,2,4
1,3,4
Which of these statements best defines form utility
it refers to the shape, style or function of the good or service
it means having the offering available where consumers need it
it means having it available when needed
it means getting the product to consumers so they can use it
Effective marketing benefits the whole country because
it enhances competition, which in turn improves both the quality and quantity of products and services
Marketing furnishes employment, both in production work and in marketing activities.
Marketing provides a higher standard of living for its citizens
All of the above
It occurs when a person feels physiologically deprived of basic necessities
need
want
demand
desire
Which of the following describes exchanges?
they are shaped by person’s culture and individual development
Anything that can be offered to a market for attention and acquisition.
The act of obtaining a desired object from someone by offering something in return
It occurs when a person feels physiologically deprived of basic necessities.
These are felt needs as they are shaped by a persons culture and individual development
needs
want
demands
products
Exchange is the core concept of marketing. For an exchange to take place, several conditions must be satisfied which include 1. there must be at least one party 2. each party must have something of value to the other 3. each must be bale to communicate and deliver 4. each must be free to accept of reject the other’s offer
1,2,3
2,3,4
1,3,4
2,4,1
One of these statements describes a transaction
it consists of a trade of values between two parties
it is the act of obtaining a desired object from someone by offering something in return
it is anything that can be offered to a market for consumption
it is made up of actual and potential buyers or consumers
These are the individuals who use the goods and services purchased for a household or personal use. They do not buy products for the purpose of making a profit
ultimate consumer
organizational buyers
both a and b
neither a nor b
All but one are criteria that must be met for a group of people to be considered a market
the persons involved have a need for the product
they have a purchasing power
they are selective in buying products
they are willing to spend
Products which are tangible and have physical forms are called
goods
services
ideas
utility
This marketing philosophy puts primacy on the production process
production concept
product concept
marketing concept
societal-marketing concept
The marketing philosophies which guide business organizations include the following 1. Production concept 2. Societal-marking concept 3. Profit concept 4. Selling concept
1,2,3
2,3,4
1,2,4
4,3,1
Which of these statements best describes the societal-marketing concept?
it puts primacy on the production process
organization goals depends on determining the needs and wants of target markets
it tries to discover the needs and wants of consumers and comes up with goods that satisfy them and deliver them in a more efficient manner than competitors
it concentrates on the selling of their products and the promotional functions accompanying them
For the business man or business firm to stay in business it must strive to maintain or balance between these objectives 1. Satisfying the needs and wants of its customers 2. Satisfying the needs of the company for a return on its investment of profit 3. Satisfying the needs of society which is affected by the company’s activities
1 and 2 are correct but 3 is incorrect
2 and 3 are correct but 1 is incorrect
1,2,3 are correct
1,2,3 are incorrect
One of the following is not a goal of marketing system
maximizing consumption
maximizing profit orientation
maximizing choice
maximizing life quality
It includes the quality availability and cost of goods, quality of physical environment and the cultural environment
maximizing consumer satisfaction
maximizing choice
maximizing life quality
maximizing profit orientation
In its original meaning, market refers to
the place where sellers and buyers come together with the intention of exchanging goods and services
the buyers and sellers who transact over some goods and services
the composition of actual and potential buyers of products
none of the above
If market is the set of buyers, how do you call the set of sellers?
profiteers
merchandisers
industry
all of the above
It is a class of buyers which is made up of purchasers or individuals in their households who intend to consume or benefit from the purchased goods
consumer market
organizational market
industrial market
reseller market
Which of these statements describes an influences as a participant in the consumer buying process
person who first proposes that a product or service be bought
person whose opinions and advice are taken seriously
person who actually buys
person who consumers or uses the purchased product or service
When a person consumes or uses the purchased product or service he is referred to as the
user
buyer
decider
imitator
The following are the stages of the consumer buying process arranged in order 1. Purchases decision 3. information search 2. Information evaluation 4. Post purchase behavior
1,2,3,4,5
2,3,4,5,1
3,4,2,1,5
4,3,2,1,5
The purchase decision of consumer is influenced by a number of factors which include
attitude of the people surrounding him
unanticipated situational factors
both a and b
neither a nor b
All but one are types of organizational market
industrial market
reseller market
government market
consumer market
A company manufacturing shoes buy leather, small nails, rubber, rugby and other items to be used in the production of shoes. This refers to which type of organizational market
industrial market
reseller market
government market
consumer market
Is the group of prospective buyers who have common needs and will respond similarly to marketing action which is the result of market segmentation
total market
market segment
mass market
none of the above
Which of the following are types of market segmentation strategy 1. concentration segmentation 2. Niche segmentation 3. Multi-segment strategy
1 and 2 only
2 and 3 only
1 and 3 only
1,2,3
In this strategy, the company focuses on only one segment and prepares a marketing mix for the segment
concentration strategy
multi-segment strategy
focus strategy
profit-oriented strategy
Which of these statements best describes psychographic segmentation?
It divides a market into different groups based on personal interests and opinions, social class or life styles
It uses the importance of product benefits to group customers
The basis for grouping the market is the social characteristics of consumers such as age, gender, civil status etc.
Buyers are divided into groups based on their knowledge, attitudes, use or response to a product
One of the following refers to behavioristic segmentation
It divides a market into different groups based on personal interests and opinions, social class or life styles
It uses the importance of product benefits to group customers
The basis for grouping the market is the social characteristics of consumers such as age, gender civil status etc.
Buyers are divided into groups based on their knowledge, attitudes, use or response to a product
What is market targeting?
It involves evaluating each market segment’s attractiveness and selecting one or more segments to enter
It is a process by which marketers divide potential customers into smaller groups seek similar benefits from a market
It focuses on only one segment and prepares a marketing mix for the segment
None of the above
This is the set of controllable variables and their levels that the firm uses to influence the target market
marketing strategy
market positioning
marketing mix
market segmentation
One of the following defines available market
the set of consumers who have interest, income and access to a particular market offer
the set of consumers who profess some level of interest in a defined market offer
the set of consumers who have already bought the product
the target market that the company decides to pursue
It is the part of the qualified available market that the company decides to pursue
potential market
available market
served market
penetrated market
The total volume that would be purchased by a specific consumer group in a specific geographic area, in a specific time period, in a specific marketing environment under a specific level and mix of industry marketing effort is termed as
market potential
market demand
company demand
sales forecast
It is the art of anticipating what buyers are likely to do under a given set of condition
forecasting
estimating
forwarding
purchasing
In buying a high-priced consumer item, the father in a Filipino family usually makes the final decision because he is the
influencer
initiator
decider
user
Their purchases are always made through sealed bids
industrial market
government market
reseller market
none of the above
Wise sales persons who sell industrial products befriend secretaries of offices who make purchasing decisions since oftentimes secretaries are
users
initiators
deciders
gatekeepers
It is a continuing and interacting structure of people, equipment and procedures to gather, sort, analyze, evaluate and distribute pertinent, timely and accurate information for use by marketing decision makers to improve their marketing planning, execution and control
marketing process
market forecasting
marketing information system
none of the above
There are three possible sources of information which are needed by marketing managers. These are:
internal company records
marketing intelligence
marketing research
all of the above
A food manufacturer sends several of his people to supermarkets to find out buyers’ reaction to his products, how many pick up his product, read the label and place it in their cart, how many put back the product after reading it and so on. In this example, what kind of research approach was employed?
observations
surveys
experimentation
interview
“Why do you prefer bar laundry soap to a powdered detergent?” is an example of what type of research approach?
observation
experimentation
survey
none of the above
If the data to be used in a research were gathered by the researcher himself, it is said to be
secondary data
primary data
internal data
external data
Limitations of the mail questionnaire method are the following: 1. It requires a longer time to complete 2. The number of people who return the completed or answered questionnaires is often very small
1 only
2 only
Both 1 and 2
Neither 1 nor 2
Telephone interview method has some limitations and these include the following except
it introduces interviewer bias which may affect the respondent’s answer
the interpretations may vary across different interviewers
interviewers may resort to cheating
interviewer has more chance to probe more deeply on a question
What are the two forms of personal interviewing?
individual and group interviewing
internal and external interviewing
Mang Zimo is offering video tapes for rent. To attract client, he also offers additional services like free delivery, free pick up, free examination of customer’s betamax.
core product
tangible product
augmented product
all of the above
One of the following is the purpose of screening and evaluation stage in the new products process
to identify markets for which or for which new products will be developed
to have a quick analysis to eliminate ideas that do not warrant further effort
to expose to prospective consumers under realistic purchase conditions to see if they will buy
to develop test, refine and put into market the durable products
What is a trademark?
is a name, term, symbol, design or a combination of these to identify a seller’s product and differentiate them from the competitor’s products
is that part of a brand which can be spoken, including letters, words and numbers
is a legal designation indicating that only the owner has exclusive use of a brand or a part of the brand
is the legal name of an organization
One of the following is an external factor considered in pricing
product cost
economic condition
market demand
government control
It is the total expenses incurred by a firm in producing and marketing the product
total cost
fixed cost
variable cost
mass cost
A marketer wishes to make a 35% return on investment on an invested capital of P2,000,000 and having a cost base of P20 /unit with forecasted sales volume of 100,000 units. What is the target profit pricing?
P57
P47
P58
P48
Which of the following defines fixed cost?
costs that do not vary with production or sales volume within the relevant range
costs that increase in direct proportion to the number of units produced
costs incurred only when new equipment is purchased
costs that vary with marketing expenditures but not with production
One of the following is true about oligopolistic competition
this type of market consists of many buyers and sellers transacting in a homogeneous commodity
this type of market also consists of many buyers and sellers but they transact over a range of prices instead of a single market price
this market involves a few sellers who are highly sensitive to each other’s pricing and marketing strategies
this is the market where there is only one seller
A method of selecting price level that involves setting high price so that status-conscious consumers will be attracted to the product and buy it
skimming pricing
penetration pricing
prestige pricing
odd-even pricing
All but one are situations in which a marketer may increase prices
when there is a change in foreign exchange
when there is a shortage of raw material
when a product which was originally perceived as low quality brand is re-launched or repositioned
when there is an excess inventory
It refers to a series of interdependent marketing institutions that make easy the transfer of title to a product as it moves from manufacturer to ultimate consumers or industrial users
marketing channel
distribution
retailing
whole sailing
This distribution strategy is the most common form and is usually associated with shopping goods or services such as appliances and furniture
intensive distribution
exclusive distribution
selective distribution
none of the above
The objective of the physical distribution system include 1. The minimize the total cost of moving and storing the goods a firm uses and produces 2. To provide customer service satisfaction in terms of time, dependability, communication and convenience
1 only
2 only
Both 1 and 2
Neither 1 nor 2
The modern drugstore today carries food, camera, equipment, paper products, toys and small hardware items. This approach is called
convenience merchandizing
scrambled merchandizing
specialty merchandizing
department store merchandizing
A contractual arrangement between a parent company and an individual or firm that allows an entity to operate a certain type of business under an established name and according to specific rules is termed, as
cooperative
corporate chain
franchising
independent practice
These are wholesalers who own the merchandize they sell but do not physically handle, stock or deliver it. They simply solicit orders from retailers and other wholesalers and have the merchandize shipped directly from a producer to a buyer
rack jobbers
drop shippers
truck jobbers
cash and carry wholesalers
Coca-cola advertising agency assembles words and illustrations into an advertisement that will convey the intended message. What element of the marketing communication process is this?
encoding
decoding
feedback
media/channel
Which of the following refers to advocacy advertisement?
it is used for a new announcement about what a company is, what can do or where it is located
it states the position of a company on an issue
it promotes the advantages of one product class over another
it is used to bring the company’s name to the attention of the target market
All but one are steps in personal selling.
prospecting
approach
presentation
profiteering
A step in the personal selling process which involves the sales person searching and qualifying potential customers.
prospecting
profiteering
approach
presentation
In the Philippines, consumer oriented sales promotion include the following except
deals
premiums
discounts
samples
Which of the following are trade – oriented sales promotions
discounts
cooperative advertising
training of distributors sales force
point of purchase display
