WorksheetsBusiness Marketing Final
Total questions: 32
Worksheet time: 20mins
CRM is an acronym that refers to which marketing term
Creating Real-Time Methods
Customer Relationship Management
Cut, Repeat, Melt
Crying to Myself
An Instagram Ad is an example of (a) Media Marketing.
Which is NOT one of the 4 Core Market Offerings?
Products
Services
Experiences
Social Media Platforms
The interrelated departments within a company that influence marketing decisions form the ________ environment.
cultural
economic
internal
political
technological
New technologies most likely lead to ________.
less crops grown
reduced exports
trade deficits
new candy flavors
new markets and opportunities
Business legislation is enacted to protect ________.
consumers from unfair business practices
businesses from unfair attacks by consumers
consumers from competition by businesses
businesses from achieving unfairly high profits
society from profitable business activity
The term big data refers to the ________ generated by today's sophisticated information generation, collection, storage, and analysis technologies.
large reports
huge and complex data sets
information requests
social media contacts
e-mail messages
What is the primary benefit of utilizing marketing information?
setting competitive prices
evaluating financial performance
developing promotional strategies
gaining customer insights
launching new products
Which of the following is true with regard to marketing research?
The marketing research process depends primarily on sophisticated internal databases.
The marketing research process requires assessing macroeconomic forces.
Marketing research gives marketers insights into customer motivations.
Marketing research eliminates the need for a SWOT analysis.
Marketing research is a simple two-step process.
What is the term for the market consisting of individuals and families purchasing goods for personal use?
consumer market
industrial market
business market
government market
_______ involves enlisting established influencers or creating new influencers to spread the word about a firm's brands.
Influencer marketing
Direct selling
Affiliate marketing
Content marketing
Facebook, Snapchat and LinkedIn are all examples of ________.
social networks
search engines
e-commerce platforms
video streaming services
The sum of the ongoing experiences customers have with a brand.
Customer Journey
Variety-Seeking
Brand Awareness
Options
What is the primary characteristic that distinguishes micro-influencers in marketing?
Having millions of followers
Being celebrities or sports stars
Having a smaller but highly engaged and authentic follower base
Focusing solely on high-end luxury products
Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and (a) pricing.
comparative
competitive
cost-plus
Which of the following product mix pricing strategies involves pricing products that can only be used with the main product?
By-product pricing
Product bundle pricing
Captive product pricing
Product line pricing
Optional product pricing
Leicestershire Renovations has a history of problems with customers who do not pay their bills on time. Leicestershire Renovations wants to improve its cash situation, reduce bad debts, and reduce credit-collection costs. Which of the following forms of pricing would most likely help the firm achieve its goal?
By-product pricing
Zone pricing
Cash discounts
Product bundling
Quantity discounts
What is a potential drawback of introducing low-price fighter brands?
Increased market share
Enhanced brand image
Tarnishing the main brand's image
Higher profit margins
Limited competition
What term describes the strategy of adding a lower-price item to a product line to compete with budget rivals?
Premium branding
Fighter brand launch
Market segmentation
Price fixing
Economy extension
Market offering includes everything from pure tangible goods to pure services, as well as combinations of goods and services. Which of the following is NOT a product or service?
Breakfast cereal
Rental car
Free concert
Shoes
Haircut
Which of the following best describes the concept of cost-plus pricing?
Pricing based on competitor prices
Adding a fixed amount to the cost of producing a product
Pricing based on customer demand
A company calculates the cost to produce a product as $100 and wants a 20% profit margin. What is the selling price using cost-plus pricing?
$50
$120
$100
(a) shows the number of units the market will buy in a given time period at different prices during that time period.
Cost-plus pricing
A company notices that its competitors have lowered their prices. What strategic actions can the company take to remain competitive?
Lower their own prices or add value to their product
Increase their prices
Stop selling the product
A business wants to use competitive pricing but also maintain profitability. What should they do to balance these goals?
Analyze competitor prices and reduce costs or add value to their product
Ignore competitor prices
Only focus on reducing costs
Match each term to their definition
Markup
% added to the cost of creating
Elastic Demand
demand changes as price changes
Psychological Pricing
a price that gives an idea of value
Ineleastic Demand
demand of item doesn't change with price
Materials used to produce goods are an example of ___.
Fixed Costs
Variable Costs
Foot Locker has mastered online and mobile efforts that link seamlessly with store operations, offering options such as 'buy online, ship from store' and 'buy online, reserve in store' for pickup. This is an example of ________.
digital retailing
omni-channel marketing
web-based retailing
in-store ordering with a mobile device
social media
________ includes all activities involved in selling goods and services to those buying for resale or business use.
Wholesaling
Retailing
Franchising
Discounting
Showrooming
________ buy mostly from producers and sell to retailers and industrial consumers.
Warehouse clubs
Factory outlets
Wholesalers
Discount stores
Megaretailer
What is the primary function of a wholesaler in the distribution channel?
To manufacture goods
To sell goods directly to final consumers
To buy in bulk from producers and resell to retailers or business users
To provide after-sales service
Match each term with its definition.
Retailer
A business that sells goods to consumers
Wholesaler
A business that sells goods to retailers
Distributor
A business that purchases goods from manufacturers
Manufacturer
A business that produces goods for sale
