BUS.120 MULTIPLE CHOICE FINAL QUESTIONS AND
ANSWERS
By definition, a(n)... satisfies consumer wants and needs, with goods, services, or ideas
- Answers - Product
... are products that are purchased without being connected to any service type activity -
Answers - Pure goods
Consumer product classifications include - Answers - Convenience products, shopping
products, specialty products, and unsought products
... are the characteristics of the product that companies offer the consumer. If a product
is well-designed, each element corresponds to meaningful ... - Answers - Product
features; product categories
Filbertina, a company that markets nuts and other healthy snack foods, has always tried
to project an upscale image. However, the company has decided to develop another
product line of less expensive snacks. Marketing manager, Joseph Hampton, generally
supports the strategy but is concerned that the new line will decrease sales of the
company's current brand. Joseph worries about the possibility of: - Answers -
Cannibalization
The fact that your favorite ice cream company regularly releases new flavors indicates
that it is following a strategy of ... - Answers - Line extension
A product in the ... stage is experiencing periods of rising sales and profits - Answers -
Growth
Which of the following is the most accurate statement about trends affecting promotion?
- Answers - Changes in technology are creating both major threats and major new
opportunities for those creating promotional messages
Many insurance companies utilize ..., while ... often handle real estate and seasonal
products. - Answers - Retailers; Distributors
Employing ... means selling products at a limited number of preferred retailers in a given
area, is a common approach for distributing medium and higher priced products -
Answers - Selective distribution
... is a subset of supply chain management that focuses on tactics rather than on
strategy - Answers - Logistics
, CVS drugstores might advertise very special sale prices on a few products while other
(everyday) prices may be higher than other stores - a strategy called - Answers -
High/low pricing strategy
Joanne works in the marketing department for a toy manufacturer. Her company will be
introducing a new type of toy and plans to profit on volume sales from a dominant
market share, which may discourage competitors from offering similar toys. The best
strategy for achieving this goal would be: - Answers - Penetration pricing
Products create all of the following types of utility, expect - Answers - Benefits
The best markets not only give consumers what they want but - Answers - Anticipate
their future needs
Which of the following is an example of ownership utility? - Answers - The furniture
store offers 90-days-same-as-cash financing to qualified buyers
The marketing concept - Answers - refers to a companywide customer orientation
... is the process of collecting and evaluating information to help marketers make
effective decisions - Answers - Marketing research
The use of regional warehouses by big box retailers is a part of their ... strategy -
Answers - Distribution
Which strategy below includes decisions about package design, brand names,
trademarks, warranties, product image, new-product development, and customer
service? - Answers - Product strategy
The Census Bureau is a major source of ... for marketers - Answers - Secondary data
... is part of the broader field of business intelligence, which is the task of using
computer-based technology to evaluate data in a database and identify useful trends. -
Answers - Data mining
Which of the following is Not a typical method of segmenting B2B markets? - Answers -
Psychographic
Marketers can influence the consumer behavior process - Answers - At every step
along the way
Managing customer relationships instead of focusing on transactions - Answers - often
leads to long-term, cost-effective exchange relationships
... segmentation is a vital starting point for most marketers - Answers - Demographic
ANSWERS
By definition, a(n)... satisfies consumer wants and needs, with goods, services, or ideas
- Answers - Product
... are products that are purchased without being connected to any service type activity -
Answers - Pure goods
Consumer product classifications include - Answers - Convenience products, shopping
products, specialty products, and unsought products
... are the characteristics of the product that companies offer the consumer. If a product
is well-designed, each element corresponds to meaningful ... - Answers - Product
features; product categories
Filbertina, a company that markets nuts and other healthy snack foods, has always tried
to project an upscale image. However, the company has decided to develop another
product line of less expensive snacks. Marketing manager, Joseph Hampton, generally
supports the strategy but is concerned that the new line will decrease sales of the
company's current brand. Joseph worries about the possibility of: - Answers -
Cannibalization
The fact that your favorite ice cream company regularly releases new flavors indicates
that it is following a strategy of ... - Answers - Line extension
A product in the ... stage is experiencing periods of rising sales and profits - Answers -
Growth
Which of the following is the most accurate statement about trends affecting promotion?
- Answers - Changes in technology are creating both major threats and major new
opportunities for those creating promotional messages
Many insurance companies utilize ..., while ... often handle real estate and seasonal
products. - Answers - Retailers; Distributors
Employing ... means selling products at a limited number of preferred retailers in a given
area, is a common approach for distributing medium and higher priced products -
Answers - Selective distribution
... is a subset of supply chain management that focuses on tactics rather than on
strategy - Answers - Logistics
, CVS drugstores might advertise very special sale prices on a few products while other
(everyday) prices may be higher than other stores - a strategy called - Answers -
High/low pricing strategy
Joanne works in the marketing department for a toy manufacturer. Her company will be
introducing a new type of toy and plans to profit on volume sales from a dominant
market share, which may discourage competitors from offering similar toys. The best
strategy for achieving this goal would be: - Answers - Penetration pricing
Products create all of the following types of utility, expect - Answers - Benefits
The best markets not only give consumers what they want but - Answers - Anticipate
their future needs
Which of the following is an example of ownership utility? - Answers - The furniture
store offers 90-days-same-as-cash financing to qualified buyers
The marketing concept - Answers - refers to a companywide customer orientation
... is the process of collecting and evaluating information to help marketers make
effective decisions - Answers - Marketing research
The use of regional warehouses by big box retailers is a part of their ... strategy -
Answers - Distribution
Which strategy below includes decisions about package design, brand names,
trademarks, warranties, product image, new-product development, and customer
service? - Answers - Product strategy
The Census Bureau is a major source of ... for marketers - Answers - Secondary data
... is part of the broader field of business intelligence, which is the task of using
computer-based technology to evaluate data in a database and identify useful trends. -
Answers - Data mining
Which of the following is Not a typical method of segmenting B2B markets? - Answers -
Psychographic
Marketers can influence the consumer behavior process - Answers - At every step
along the way
Managing customer relationships instead of focusing on transactions - Answers - often
leads to long-term, cost-effective exchange relationships
... segmentation is a vital starting point for most marketers - Answers - Demographic
