BCOR 350 EXAM QUESTIONS WITH
100% CORRECT ANSWERS
This type of advertising is used to convince customers that a company's products or
services are the best, and it is used to influence attitudes and the underlying image of a
company or product.
A) Persuasive advertising
B) Informative advertising
C) Reminder advertising
D) Promotional advertising - Answer-A) Persuasive advertising
In digital content marketing, ____________, common in B2B applications, requires
users to complete contact information or a lead qualification form. Common examples
are research reports or whitepapers,
A) Gated access
B) Direct access
C) Paid access
D) Search engine access - Answer-A) Gated access
In this stage of the personal selling process, the sales person will assess their
customer's satisfaction with their performance and may ask for referrals for future
business.
A) Pre approach
B) Presentation
C) Close
D) Follow up - Answer-D) Follow up
This type of advertising appeal offer facts and information to help the target audience
make a purchasing decision.
A) Emotional appeal
B) Informational appeal
C) Cost- based appeal
D) Esteem appeal - Answer-B) informational appeal
True or False: The generic term used by firms for advertising placed with social media is
called "owned social". - Answer-False
Identify the most likely marketing channel structure for stereo equipment.
A) independent agents
,B) direct to consumers
C) manufacturer-retailer (no wholesaler)
D) manufacture-wholesaler-retailer - Answer-D) manufacture-wholesaler-retailer
Identify the most likely marketing channel structure for a bakery who makes all of their
products from scratch in their shop.
A) manufacture-wholesaler-retailer
B) independent agents
C) direct to consumers
D) manufacturer-retailer (no wholesaler) - Answer-C) direct to consumers
Identify the most likely marketing channel structure for automobiles.
A) independent agents
B) manufacture-wholesaler-retailer
C) manufacturer-retailer (no wholesaler)
D) direct to consumers - Answer-C) manufacturer-retailer (no wholesaler)
Identify the most likely marketing channel structure for Real Estate.
A) independent agents
B) direct to consumers
C) manufacture-wholesaler-retailer
D) manufacturer-retailer (no wholesaler) - Answer-A) independent agents
The type of marketing channel used by Costco and Sam's club is best described as:
A) independent agents
B) manufacture-wholesaler-customer
C) direct to consumers
D) manufacturer-retailer (no wholesaler) - Answer-B) manufacture-wholesaler-customer
What is price skimming? - Answer-Where a firm charges the highest initial price that
customers will pay and lowers it over time. You see this with technology products
What is penetration pricing? - Answer-A pricing strategy that is used to quickly gain
market share by setting an initially low price to entice customers to purchase from
What is high low pricing? - Answer-A pricing strategy in which a firm relies on sale
promotions to encourage consumer purchase. In other words, high low pricing set an
initial price...and then frequently discounts the price through sales etc.
What is prestige prices? - Answer-Prices are set higher than normal because lower
prices will hurt instead of helping sales, such as for high-end perfumes, jewelry,
clothing, cars, etc. Price is used as an indicator of quality.
What is bundle pricing? - Answer-In a bundle pricing, companies sell a package or set
of goods or services for a lower price than they would charge if the customer bought all
of them separately.
,What is psychological pricing? - Answer-Psychological pricing is the practice of setting
prices slightly lower than rounded numbers, in the belief that customers do not round up
these prices, and so will treat them as lower prices than they really are (e.g. $1.99
instead of $2.00). This practice is based on the belief that customers tend to process a
price from the left-most digit to the right, and so will tend to ignore the last few digits of a
price.
Quackenbush Widgets has developed a new type of widget that whistles, sings, and
plays the accordion making it unlike any other widget ever produced. Quackenbush
wishes to grab a hold in the musical widget market before its competitors create similar
products, so when it releases its new widget it prices it at only $250 even though most
of its other widgets start at $350. Which pricing strategy does this example show?
Cost-plus pricing
Price penetration
Price skimming
Value pricing - Answer-B
True or false: In the price-value equation, value equals perceived benefits minus
perceived costs. - Answer-True
In the competitive bid process, bids from competing _____ are solicited.
distributors
marketers
retailers
suppliers - Answer-D
True or false: Fixed costs change as the level of production goes up or down. - Answer-
False
The perceived benefits of a product may include all of the following EXCEPT:
convenience
price
quality
status - Answer-B
When the absolute value of the price elasticity is less than _____, the price is inelastic
and people are insensitive to changes in price.
zero
one
the break-even price
the price to produce an item - Answer-B
True or false: The competitive bid process creates an opportunity to tailor pricing for a
specific customer s needs, based on the value provided relative to a specific set of
competitors. - Answer-True
, If a firm wishes to maximize profits, which of the following is true with respect to setting
prices?
A.
Cut prices to gain market share
B.
Set prices higher but attract a less price sensitive segment of the market
C.
Price similar to competitors' prices.
D.
Set prices at cost plus 10%. - Answer-B
True or False: Distribution channels create efficiencies by reducing the number of
transactions necessary for goods to flow from many different manufacturers to large
numbers of customers. - Answer-True
What type of distribution method is best for products that are common, and are
purchased by many consumers on a very frequent basis?
A.
Selective distribution
B.
Exclusive distribution
C.
Intensive distribution
D.
Single distribution - Answer-C
When a manufacturer gets the help of one or more middlemen to move goods from the
production place to the place of consumption, the distribution channel is called:
A.
Direct channel
B.
Zero level channel
C.
Indirect channel
D.
Middleman channel - Answer-C
In delivering the best retail experience in the right place, __________ is a second
critical factor for the retailer and represents the face of the retail brand to the shopper.
A.
Promotion
B.
Personnel
C.
Product placement
100% CORRECT ANSWERS
This type of advertising is used to convince customers that a company's products or
services are the best, and it is used to influence attitudes and the underlying image of a
company or product.
A) Persuasive advertising
B) Informative advertising
C) Reminder advertising
D) Promotional advertising - Answer-A) Persuasive advertising
In digital content marketing, ____________, common in B2B applications, requires
users to complete contact information or a lead qualification form. Common examples
are research reports or whitepapers,
A) Gated access
B) Direct access
C) Paid access
D) Search engine access - Answer-A) Gated access
In this stage of the personal selling process, the sales person will assess their
customer's satisfaction with their performance and may ask for referrals for future
business.
A) Pre approach
B) Presentation
C) Close
D) Follow up - Answer-D) Follow up
This type of advertising appeal offer facts and information to help the target audience
make a purchasing decision.
A) Emotional appeal
B) Informational appeal
C) Cost- based appeal
D) Esteem appeal - Answer-B) informational appeal
True or False: The generic term used by firms for advertising placed with social media is
called "owned social". - Answer-False
Identify the most likely marketing channel structure for stereo equipment.
A) independent agents
,B) direct to consumers
C) manufacturer-retailer (no wholesaler)
D) manufacture-wholesaler-retailer - Answer-D) manufacture-wholesaler-retailer
Identify the most likely marketing channel structure for a bakery who makes all of their
products from scratch in their shop.
A) manufacture-wholesaler-retailer
B) independent agents
C) direct to consumers
D) manufacturer-retailer (no wholesaler) - Answer-C) direct to consumers
Identify the most likely marketing channel structure for automobiles.
A) independent agents
B) manufacture-wholesaler-retailer
C) manufacturer-retailer (no wholesaler)
D) direct to consumers - Answer-C) manufacturer-retailer (no wholesaler)
Identify the most likely marketing channel structure for Real Estate.
A) independent agents
B) direct to consumers
C) manufacture-wholesaler-retailer
D) manufacturer-retailer (no wholesaler) - Answer-A) independent agents
The type of marketing channel used by Costco and Sam's club is best described as:
A) independent agents
B) manufacture-wholesaler-customer
C) direct to consumers
D) manufacturer-retailer (no wholesaler) - Answer-B) manufacture-wholesaler-customer
What is price skimming? - Answer-Where a firm charges the highest initial price that
customers will pay and lowers it over time. You see this with technology products
What is penetration pricing? - Answer-A pricing strategy that is used to quickly gain
market share by setting an initially low price to entice customers to purchase from
What is high low pricing? - Answer-A pricing strategy in which a firm relies on sale
promotions to encourage consumer purchase. In other words, high low pricing set an
initial price...and then frequently discounts the price through sales etc.
What is prestige prices? - Answer-Prices are set higher than normal because lower
prices will hurt instead of helping sales, such as for high-end perfumes, jewelry,
clothing, cars, etc. Price is used as an indicator of quality.
What is bundle pricing? - Answer-In a bundle pricing, companies sell a package or set
of goods or services for a lower price than they would charge if the customer bought all
of them separately.
,What is psychological pricing? - Answer-Psychological pricing is the practice of setting
prices slightly lower than rounded numbers, in the belief that customers do not round up
these prices, and so will treat them as lower prices than they really are (e.g. $1.99
instead of $2.00). This practice is based on the belief that customers tend to process a
price from the left-most digit to the right, and so will tend to ignore the last few digits of a
price.
Quackenbush Widgets has developed a new type of widget that whistles, sings, and
plays the accordion making it unlike any other widget ever produced. Quackenbush
wishes to grab a hold in the musical widget market before its competitors create similar
products, so when it releases its new widget it prices it at only $250 even though most
of its other widgets start at $350. Which pricing strategy does this example show?
Cost-plus pricing
Price penetration
Price skimming
Value pricing - Answer-B
True or false: In the price-value equation, value equals perceived benefits minus
perceived costs. - Answer-True
In the competitive bid process, bids from competing _____ are solicited.
distributors
marketers
retailers
suppliers - Answer-D
True or false: Fixed costs change as the level of production goes up or down. - Answer-
False
The perceived benefits of a product may include all of the following EXCEPT:
convenience
price
quality
status - Answer-B
When the absolute value of the price elasticity is less than _____, the price is inelastic
and people are insensitive to changes in price.
zero
one
the break-even price
the price to produce an item - Answer-B
True or false: The competitive bid process creates an opportunity to tailor pricing for a
specific customer s needs, based on the value provided relative to a specific set of
competitors. - Answer-True
, If a firm wishes to maximize profits, which of the following is true with respect to setting
prices?
A.
Cut prices to gain market share
B.
Set prices higher but attract a less price sensitive segment of the market
C.
Price similar to competitors' prices.
D.
Set prices at cost plus 10%. - Answer-B
True or False: Distribution channels create efficiencies by reducing the number of
transactions necessary for goods to flow from many different manufacturers to large
numbers of customers. - Answer-True
What type of distribution method is best for products that are common, and are
purchased by many consumers on a very frequent basis?
A.
Selective distribution
B.
Exclusive distribution
C.
Intensive distribution
D.
Single distribution - Answer-C
When a manufacturer gets the help of one or more middlemen to move goods from the
production place to the place of consumption, the distribution channel is called:
A.
Direct channel
B.
Zero level channel
C.
Indirect channel
D.
Middleman channel - Answer-C
In delivering the best retail experience in the right place, __________ is a second
critical factor for the retailer and represents the face of the retail brand to the shopper.
A.
Promotion
B.
Personnel
C.
Product placement
