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- 1. Multiple Choice
Why are the "Seven Pillars of Marketing" important to marketing strategies?
First step to effective market segmentation
Help overcome separations and discrepancies between producers and consumers
Helps companies focus on specific consumers
Are need-satisfying offerings from companies
- 2. Multiple Choice
Which of the following is NOT an example of demographic segmentation?
Segmentation by income
Segmentation by ethnicity
Segmentation by location
Segmentation by occupation
- 3. Multiple Choice
The marketing mix includes place, price, positioning and promotion
True
False
- 4. Multiple Choice
Market segmentation involves which of the following?
Identifying generic markets
Collecting information to carry out marketing activities
Segmenting the generic markets into target markets
A and C
- 5. Multiple Choice
Marketers look at disposable income and discretionary income when marketing to consumers
True
False
- 6. Multiple Choice
Which of the following is NOT one of the seven pillars of marketing
Distribution
Financing
Selling
Economics
- 7. Multiple Choice
Which of the following combines finding a target market and using a marketing mix?
Marketing concept
Marketing strategy
Marketing foundation
Effective marketing
- 8. Multiple Choice
Mark goes to a department store in search of the perfect gift for his son's birthday. Mark is considered to be which of the following?
Consumer
Customer
Marketer
Distributor
- 9. Multiple Choice
There are how many foundations to marketing?
2
5
4
7
- 10. Multiple Choice
Effective marketing is difficult because of which of the following?
Producers and consumers are usually separated in several ways
Customers want to buy more than producers make
The assortment of goods is usually too large for customers
Manufacturers and retailers disagree on who is the customer
- 11. Multiple Choice
Marketers use MSA's for which of the following reasons?
Targeting consumers and launching promotional campaigns
Distributing promotions to the right producers
Adverting products
None of the above
- 12. Multiple Choice
What is NOT a type of pricing?
Prestige pricing
Bait pricing
Distributing pricing
Value in use pricing
- 13. Multiple Choice
Mass markets are a homogeneous group of consumers to which producers wish to appeal
True
False
- 14. Multiple Choice
The success of negative driven products relies on consumers
Fears of the consequences of not owning them
Loyalty to positive driven substitute products
Ability to absorb risks associated with them
Negative views on products they replace
- 15. Multiple Choice
It is rare for a completely new product to enter markets and be successful
True
False
- 16. Multiple Choice
A similar group of customers a company wants to attract is known as which of the following?
Marketing mix
Target market
Mass market
Specific market
- 17. Multiple Choice
Which of the following is NOT a type of segmentation?
Demographic
Geographic
Psychographic
Aerographic
- 18. Multiple Choice
Which of the following populations are the largest ethnic group in the USA?
Caucasian
Asian American
Hispanic
African American
- 19. Multiple Choice
Which generation is arguably the most educated?
Baby Boomers
Gen X
Gen Y
Gen Z
- 20. Multiple Choice
Targeting teenagers is an example of which type of segmentation?
Demographic
Geographic
Psychographic
Aerographic
- 21. Multiple Choice
What are the four marketing strategies businesses use to determine customer needs?
product, price, place, process
price, place, promotion, process
product, price, place, promotion
product, process, place, promotion
- 22. Multiple Choice
What is NOT a reason a new product might fail?
Too little marketing support
Unexpected consumer reaction
Poor positioning
Appropriate channels selected
- 23. Multiple Choice
Research group volunteers can effectively help by doing which of the following?
Reacting as they would in the real world to price
Determining prices of products
Being the only method of determining price
Determining target return pricing
- 24. Multiple Choice
Personal selling can be part of ____ and involves direct spoken communication between sellers and customers
Process
Price
Promotion
Product
- 25. Multiple Choice
Which of the following is NOT an example of sales promotion?
Coupons
Telemarketing
Catalogs
Samples
- 26. Multiple Choice
Which of the following is NOT considered a trend in marketing?
Relationship marketing
Industrial marketing
Distributive marketing
Mobile marketing
- 27. Multiple Choice
Industrial marketing is also known as which of the following
Business to consumer
Business to business
Wholesaler to retailer
Business to customer
- 28. Multiple Choice
Which of the following was NOT listed as a disadvantage of mobile marketing?
Variety of shapes and sizes of devices
Website navigation can be difficult
Privacy concerns on personal devices
Stores unwanted information on the device
- 29. Multiple Choice
Focusing on attracting and retaining customers by continually creating relevant products is known as which of the following
Co-branding
Content marketing
Online advertising
Societal marketing
- 30. Multiple Choice
Which of the following is NOT a way online advertising can be purchased?
Cost per view
Cost per thousand
Cost per click
Cost per action
- 31. Multiple Choice
Market Segments
similar group of consumers responding to the same marketing mix
aggregating process which clusters people with similar needs into market segments
- 32. Multiple Choice
Financing
determines prices for products in order to maximize profits
obtaining money necessary for business operations
- 33. Multiple Choice
Customer
person who uses the product
person who buys the product
- 34. Multiple Choice
Promotion
applying promotional techniques to potential customers
providing consumers with the products and services they desire
- 35. Multiple Choice
Product/Service Management
using channels to get products to consumers
developing, improving and maintaining a product mix
- 36. Multiple Choice
Money left after taxes are taken out of paychecks
Discretionary income
Variable income
Disposable income
Fixed income
- 37. Multiple Choice
Applies to a fairly homogeneous group of consumers
Target marketing
Mass marketing
Personal selling
Mass selling
- 38. Multiple Choice
Increase in cost
Pricing
Mark up
Financing
Disaggregate
- 39. Multiple Choice
Products the customer had not planned to buy but were at right place at right time
Staples
Specialty products
Impulse items
Emergency products
- 40. Multiple Choice
Involves direct spoken communication between sellers and consumers
Mass selling
Selling
Promotion
Personal selling
- 41. Multiple Choice
Any goods and services a business sells
advertising
product
market segment
profit
- 42. Multiple Choice
Activity that is done for another person, ex. house cleaning
service
sales
public relations
marketing plan
- 43. Multiple Choice
One promotional advertising message broadcast on tv or radio
communication
competitor
public relations
commercial
- 44. Multiple Choice
Specific offer designed to increase sales
repeat customers
publicity
sales promotion
ads
- 45. Multiple Choice
How and where the product will be made available to consumers in the market, selection of distribution channels, and partners
Product
Place
Promotion
Price
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