marketing i how well do u know marketing? 20 questions; 5 points each. the answers follow the qs

Marketing I

How Well Do U Know Marketing?

20 Questions; 5 points each.The answers follow the Qs.

The study of consumers and how they make decisions is called . . .

a. Buying Motives

b. Consumer Behavior

c. Psychographics

d. Self-Regulation

Question #1

The total revenue that can be obtained from a market segment is

a. Potential Earnings

b. Market Potential

c. Market Share

d. Market Segment

Question #2

Demographic characteristics include

a. Income

b. Hobbies

c. Personal Interests

d. All of the Above

Question #3

The failure rate for new products in the marketplace, on average, is

a. 10%

b. 50%

c. 30%

d. 70%

Question #4

A product will succeed if it (is)

a. Cute

b. Inexpensive

c. Useful to the consumer

d. Easy to make for the company

Question #5

Clearly defined segment focused on by the company.

a. Marketplace

b. Consumer Market

c. Target Market

d. Business Market

Question #6

Characteristics that make a basic product unique.

a. Options

b. Features

c. Image

d. Assortment

Question #7

The most flexible transportation method is

a. Trucks

b. Railroads

c. Ships

d. Airplanes

Question #8

What is an advantage of using Advertising?

a. Immediate Feedback

b. Mass Audience

c. Free

d. Little Control

Question #9

Who is best able to define consumers’ needs & what it takes to satisfy them?

a. marketers

b. businesses

c. consumers

d. All of the above

Question #10

Which marketing function establishes the value of products & services?

a. selling

b. pricing

c. product/service management

d. marketing information management

Question #11

Which marketing function helps customers better locate & obtain

products?

a. promotion

b. distribution

c. selling

d. financing

Question #12

The most difficult type of competition businesses face is a market in which they compete with

a. Similar products

b. Different products

c. Lower quality products

d. More expensive products

Question #13

Routine decision-making might be used when?

a. Hiring a new employee

b. Redecorating the office

c. Studying consumer behavior

d. Purchasing operating supplies

Question #14

The simplest type of distribution channel

a. direct

b. indirect

c. reverse

d. linked

Question #15

Which is not a component of the Marketing Mix?

a. Promotionb. Pricec. Proboscisd. Product

Question #16

Which is not a type of creative format used in advertising?

a. Musical

b. Special

c. Testimonial

d. Technical

Question #17

The process of gathering information about a company’s competition is

a. Information search

b. Problem recognition

c. Decision-making process

d. Marketing intelligence

Question #18

Which is not a characteristic of demographics?

a. Income

b. Lifestyle

c. Gender

d. Education

Question #19

Game costs $25 to make.Retail markup is $12.

What is the Selling Price?

a. $??

b. $??

c. $??

d. $??

Question #20

Marketing I

Here Are The Answers?Remember: 5 points each.