AES Pricing, Promotion, and Distribution Test Review
6 months ago
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  • Question 1
    30 seconds
    Q.

    What is a product?

    answer choices

    Something for sale that you can touch

    The container or wrapping for an item

    Anything offered to a market that might satisfy a want or need

    Something for sale that cannot be touched

  • Question 2
    30 seconds
    Q.

    Which of these statements describes Time utility?

    answer choices

    Put a product where it is convenient for a customer to purchase it

    Provide the customer with more knowledge about the product

    Change a raw material or assemble parts to make a product

    Offer a product just as the need for it arises

  • Question 3
    30 seconds
    Q.

    What is the term that refers to a product's identity, as represented by its name and/or mark?

    answer choices

    Brand

    Generic

    Advertising

    Market segment

  • Question 4
    30 seconds
    Q.

    What is the difference between a customer and a consumer?

    answer choices

    A customer buys products, while a consumer uses products.

    A customer must be a business, while a consumer may be a private individual.

    A consumer buys a product either to resell it or make it into another product.

    A customer buys specialty products, while a consumer buys convenience products.

  • Question 5
    30 seconds
    Q.

    Which of these products are goods?

    answer choices

    New tires

    Taxi ride

    Car repair

    All of the above

  • Question 6
    30 seconds
    Q.

    What is the main factor to consider when classifying products?

    answer choices

    The facility where the product is made

    Why the product is being purchased

    How long it takes to make the product

  • Question 7
    30 seconds
    Q.

    Which of these market segments include both psychographic and behavioral factors?

    answer choices

    Large businesses who have internal marketing departments

    Single men, 40 and under, who live in the Midwestern U.S.

    Amateur photographers who prefer first-rate equipment to capture quality images

    People between the ages of 16 and 30 who work at least part-time and are paid hourly

  • Question 8
    30 seconds
    Q.

    What is economic utility?

    answer choices

    Sending financial information via phone or cable

    Adding value to a product by making it more useful

    Saving money on a product through a discount program

    A type of marketing aimed toward financial institutions

  • Question 9
    30 seconds
    Q.

    What is the term for the path that the product follows from the producer to the customer?

    answer choices

    Channel of distribution

    Physical distribution

    Public relations

    Market share

  • Question 10
    30 seconds
    Q.

    At what stage of the product life cycle do sales start to grow at a slower pace, or even level off?

    answer choices

    Introduction

    Decline

    Growth

    Maturity

  • Question 11
    30 seconds
    Q.

    The "4 Ps" (product, pricing, place, promotion) make up which of these items?

    answer choices

    Product Mix

    Marketing Mix

    Customer Relationship Management

    Integrated Marketing Communication

  • Question 12
    30 seconds
    Q.

    What is the main reason why generic products can be sold at a reduced price?

    answer choices

    They are lower in quality.

    They have less competition.

    Less money is spent to promote them.

    They are available in more store locations.

  • Question 13
    30 seconds
    Q.

    What is the term for unprocessed natural resources that are refined into end products?

    answer choices

    Component parts

    Raw materials

    Supplies

    Process materials

  • Question 14
    30 seconds
    Q.

    At what stage in the product life cycle would it be most likely to make a decision about deleting the product?

    answer choices

    Growth

    Decline

    Introduction

    Maturity

  • Question 15
    30 seconds
    Q.

    Nutrition data is included on the packaging of a food product. What type of economic utility is shown in this example?

    answer choices

    Form

    Time

    Information

    Place

  • Question 16
    30 seconds
    Q.

    Why do you think a business would set the price of their product above the competition?

    answer choices

    Higher prices usually lead to creating greater demand for a product.

    It's the only way to make a profit with competition-oriented pricing.

    A higher price often indicates higher quality to many customers.

    It's the only way to increase market share, especially for new products.

  • Question 17
    30 seconds
    Q.

    For which pricing method is it crucial to perform a breakeven analysis?

    answer choices

    Competition-oriented pricing

    Cost-oriented pricing

    Demand-oriented pricing

    All of the above

  • Question 18
    30 seconds
    Q.

    Which of these items is typical of business buying behavior?

    answer choices

    Has more frequent contact with the seller

    More likely to negotiate on price

    More likely to negotiate on price

    All of the above

  • Question 19
    30 seconds
    Q.

    The consumer (B2C) market includes people who buy products to:

    answer choices

    Make other products

    Use or benefit from them

    Resell them

    Use them to make a profit

  • Question 20
    30 seconds
    Q.

    Which of these statements about publicity is NOT TRUE?

    answer choices

    Publicity is free since the information appears in the news media

    Marketers control how the information is presented

    The information tends to be viewed as more credible

    Publicity is one part of public relations

  • Question 21
    30 seconds
    Q.

    Which promotional method involves direct communication between the sales person and the customer?

    answer choices

    Advertising

    Sales promotions

    Personal selling

    Public relations

  • Question 22
    30 seconds
    Q.

    What is the term for a document that lays out the details for how to focus marketing efforts on meeting the customers' needs and wants?

    answer choices

    Marketing Concept

    Breakeven Analysis

    Marketing Plan

    Product Life Cycle

  • Question 23
    30 seconds
    Q.

    Which of these terms refers to the group of all the product lines offered for sale by a company?

    answer choices

    Marketing mix

    Brand

    Target market

    Product mix

  • Question 24
    30 seconds
    Q.

    It's important for all elements of the marketing mix to work together. In good marketing strategy, what's at the center of all the efforts?

    answer choices

    The competitors

    The business

    The customer

    The product

  • Question 25
    30 seconds
    Q.

    What is a sales promotion?

    answer choices

    An ongoing effort to foster positive relationships with the public

    A short-term incentive used to get people to buy a product

    A paid advertisement to influence people about a product

    Placing information about a product in the news media

  • Question 26
    30 seconds
    Q.

    What is the term for any form of communication that a business uses to inform, persuade, or remind potential customers about their products?

    answer choices

    Packaging

    Distribution

    Marketing mix

    Promotion

  • Question 27
    30 seconds
    Q.

    Which of these statements defines the philosophy of marketing?

    answer choices

    Focus all of efforts on satisfying the wants and needs of the customer

    Produce a large amount of goods as quickly as possible to increase supply

    Use high-pressure sales tactics to increase profits for the business

    Focus on selling through lots of advertising and large sales forces

  • Question 28
    30 seconds
    Q.

    What is distribution?

    answer choices

    Communication directed toward customers to educate them about a product

    A company's portion of the total industry sales for a certain type of product

    Determining how to get the product to the right people, in the right amounts, at the right time and place

    Adding value to a product by making it more useful

  • Question 29
    30 seconds
    Q.

    Agents, wholesalers, and retailers are examples of _______

    answer choices

    Sales promotions

    Product lines

    Channels of distribution

    Consumers

  • Question 30
    30 seconds
    Q.

    What does the term physical distribution refer to?

    answer choices

    Business functions used to move a product through the channel to customers

    The path that a product follows from the producer to the customer

    The outlet, or place, where the customer can purchase the product

    Selling a product directly to a customer, without using any intermediaries

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