marketing. 10 questions – 1 point each 5 questions – 9 points total 1 question - 11 points total
TRANSCRIPT
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Chapter 10 Review FlashcardsMarketing
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True/False10 Questions – 1 Point Each
Multiple Choice10 Questions – 1 Point Each
Matching10 Questions – 1 Point Each
Fill in the Blank5 Questions – 9 points total
Essay Questions1 Question - 11 Points Total
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Question 1All businesses must complete some marketing
activities even if that is not their focus.
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Question 1 - AnswerTRUE
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Question 2A target market is a group of consumers that have
similar wants and needs.
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Question 2 - AnswerFALSE
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Question 3Effective marketing begins with a good product.
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Question 3 - AnswerFALSE
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Question 4Finding solutions to problems through carefully
designed studies involving consumers is called marketing research.
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Question 4 - AnswerTRUE
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Question 5Product packaging is the least important part of
product planning because consumers simply throw away the packaging before using the product.
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Question 5 - AnswerFALSE
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Question 6The first step in new product planning is to develop a
full marketing strategy.
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Question 6 - AnswerFALSE
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Question 7Highly complex and technical products generally have
higher prices than simple products.
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Question 7 - AnswerTRUE
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Question 8A markup should be thought of as a pricing mistake
because it reduces the amount of money the business has to cover operating expenses and profits.
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Question 8 - AnswerFALSE
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Question 9A farmer selling at a roadside stand tomatoes she
grew in her own garden is an example of a direct channel of distribution.
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Question 9 - AnswerTRUE
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Question 10Advertising is any form of communication used to
inform, persuade, or remind.
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Question 10 - AnswerFALSE
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Question 11This marketing function involves setting and
communicating the value of products and services.Financial AnalysisDistributionPricingSelling
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Question 11 - AnswerPRICING
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Question 12What is the first step in the consumer decision-making
process?Gather InformationSelect AlternativesEvaluate AlternativesRecognize a Need
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Question 12 - AnswerRecognize a Need
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Question 13A small number of consumers expressing opinions
about a new product or service in a group discussion is Target MarketFocus GroupSurvey GroupExperimental Group
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Question 13 - AnswerFocus Group
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Question 14The simplest form of a product is called the
Basic productBrand nameProduct featureOption
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Question 14 - AnswerBasic product
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Question 15Services are
Easier than products to examine to see if they will meet your needs
Consumed at the same time they are producedThe same no matter who provides themEasier than products to store
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Question 15 - AnswerConsumed at the same time they are produced
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Question 16A product will probably have a relatively high price
If it is hard to findIf its supply is highIf it has been on the market for a long timeIf it has many features and options
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Question 16 - AnswerIf it has many features and options
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Question 17Product costs + Operating expenses + Profit =
Gross marginSelling priceMarkupMarkdown
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Question 17 - AnswerSelling price
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Question 18Businesses usually specialize in producing a specific
type of product, while consumers want to purchase a variety of products. This illustrates differences inAssortmentQuantityLocationTiming
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Question 18 - AnswerAssortment
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Question 19Which of the following is an example of personalized
promotion?AdvertisingPublicityPersonal sellingSales promotion
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Question 19 - AnswerPersonal selling
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Question 20Non-paid promotion presented by the media rather
than by a business isTelemarketingAdvertisingSales promotionPublicity
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Question 20 - AnswerPublicity
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Question 21Marketing function that deals with determining the
best ways for customers to locate, obtain, and use a company’s products and services.
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 21 - AnswerDistribution
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Question 22Consumers who buy products and services for their
own use.
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 22 - AnswerFinal Consumers
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Question 23Marketing function that deals with designing and
improving products and services.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 23 - AnswerProduct and Service Management
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Question 24Marketing function that involves communicating
information about products and services to potential customers.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 24 - AnswerPromotion
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Question 25An example would be buying a birthday card for your
sister because you love her.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 25 - AnswerEmotional Buying Motive
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Question 26Marketing function that involves communicating
directly with potential customers to determine and satisfy their needs.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 26 - AnswerSelling
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Question 27Marketing function that involves budgeting for
marketing activities and providing financial assistance to customers so they can purchase goods and services.
Financial Analysis
Job Shadowing Career Internship Networking
PromotionQualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 27 - AnswerFinancial Analysis
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Question 28Consumers who buy products for incorporation into
other products to sell to others.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 28 - AnswerBusiness Consumers
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Question 29An example would be buying a certain automobile
because it gets the best gas mileage and has been rated a cost-effective purchase by a leading consumer magazine.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 29 - AnswerRational Buying Motive
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Question 30Marketing function that deals with obtaining,
managing, and using market information to improve business decision making.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
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Question 30 - AnswerMarketing-Information Management
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Question 31A(n) __________ identifies how a company uses
marketing to achieve its goals.
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Question 31 - AnswerMarketing Strategy
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Question 32A marketing mix is the blending of four marketing
elements: (4 points)
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Question 32 - AnswerProduct, Distribution, Price, and Promotion
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Question 33Solving a current problem with existing information
gathered for another purpose is _____ research; studies carried out to gather new information is _____ research. (2 points)
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Question 33 - AnswerSecondary, Primary
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Question 34The difference between the selling price and the
product costs is _____.
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Question 34 - AnswerGross margin
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Question 35The exchange of information so there is common
understanding by all participants is called _____.
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Question 35 - AnswerEffective communication
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Complete the table with the missing values:
Question 36
ProductProduct
CostMarkup Percent
Markup Amount
Selling Price
Total Cost Net Profit
A $50 40% $80 $10
B $30 $39 $6
C $100 25% $25 $145
D 50% $30 $90 $105
E $40 $6 $46 $4
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Question 36 - AnswerProduct
Product Cost
Markup Percent
Markup Amount
Selling Price
Total Cost Net Profit
A $50 40% $20 $70 $80 $10
B $30 30% $9 $39 $45 $6
C $100 25% $25 $125 $145 $20
D $60 50% $30 $90 $105 $15
E $40 15% $6 $46 $50 $4