True/False
Indicate whether the sentence or statement is true
or false. |
| | 1. | Companies
often sell similar products at similar prices. |
| | 2. | Product
identification is meant to help consumers remember a particular product. |
| | 3. | Marketing
programs remain the same at each stage of a product's life cycle. |
| | 4. | A larger
quantity of products will be demanded at lower prices than at higher prices. |
| | 5. | Promotion
depends partly on the type of consumer a company wants to attract. |
Multiple Choice
Identify the
letter of the choice that best completes the statement or answers the question. |
| | 6. | The purpose
of marketing is to convince consumers that a certain product or service will add to
their a. | savings. | c. | cost. | b. | investment. | d. | utility. | | | | |
|
| | 7. | What type of
utility is involved in refining crude oil into gasoline? a. | time
utility | c. | ownership
utility | b. | place utility | d. | form utility | | | | |
|
| | 8. | Having food
goods available at a convenience store that is open late at night is an example of a. | time
utility. | c. | ownership
utility. | b. | place utility. | d. | form utility. | | | | |
|
| | 9. | Which of the
following is an example of ownership utility? a. | catalog selling | b. | transforming cotton
into tee shirts | c. | luxury car | d. | fast-food store located in a shopping mall | | |
|
| | 10. | Which of the
following describes a reason for market research? a. | decide whether to sell stock in a
corporation | b. | find the best financing plan | c. | determine consumer
response to a product | d. | find out how to make new products | | |
|
| | 11. | Which aspect
of a marketing strategy is involved in offering an extended warranty on a product? a. | price | c. | promotion | b. | product | d. | place | | | | |
|
| | 12. | The use of a
slogan, a jingle, or a celebrity endorsement are examples of a. | product
pricing. | c. | price
leadership. | b. | direct-mail advertising. | d. | product identification. | | | | |
|
| | 13. | Which of the
following industries often use direct-mail advertising? a. | grocery
stores | c. | credit card
companies | b. | car dealers | d. | gas stations | | | | |
|
| | 14. | At the
introductory stage of a product life cycle, marketers would a. | use penetration
pricing. | c. | raise the price of the
product. | b. | find new uses for the product. | d. | redesign the packaging. | | | | |
|
| | 15. | One way to
extend the life of a product is to a. | raise the price. | c. | produce more of it. | b. | replace it with a
similar product. | d. | find new uses for
it. | | | | |
|
| | 16. | Which of the
following is an example of goods going directly from producer to consumer? a. | clothing sold at a
department store | b. | farm products sold at a grocery store | c. | automobiles sold at a
dealership | d. | vegetables sold at a roadside stand | | |
|
| | 17. | Which of the
following transportation methods would be the most practical for shipping large auto parts to an
assembly plant? a. | airfreighting | c. | overnight
express | b. | train and truck | d. | pipeline | | | | |
|
| | 18. | Department
stores, discount stores, supermarkets, and other businesses that sell goods directly to the public
are a. | retailers. | c. | consumers. | b. | wholesalers. | d. | producers. | | | | |
|
| | 19. | One benefit
of shopping at a club warehouse store is the a. | large selection of models and brands. | c. | membership fee. | b. | low
prices. | d. | small
inventory. | | | | |
|
| | 20. | Consumers
can avoid state sales taxes by buying goods a. | through catalogs from out-of-state
companies. | b. | from club warehouse stores. | c. | from
wholesalers. | d. | from discount retailers. | | |
|
Completion
Complete each sentence or
statement. |
| 21. | Locating a
gas station at a busy intersection is an example of ____________________.
|
| 22. | The
satisfaction a person receives from having expensive jewelry is ____________________.
|
| 23. | The first
step in market research is performing a ____________________.
|
| 24. | Market
research is based on the recognition of ____________________.
|
| 25. | ____________________ allows a company to see how well a product sells in a small area
before offering it nationally.
|
| 26. | A
____________________ usually has prices that are lower than those in nearby stores.
|
| 27. | A
____________________ is a business that sells goods directly to consumers.
|
| 28. | A
____________________ buys merchandise and resells it to a retailer.
|
| 29. | Anyone with
a credit card and access to the Internet can use ____________________.
|
| 30. | Consumers
who purchase goods through a ____________________ do not have to pay sales tax if the company is
located in another state.
|
Matching |
| | Match
each item with the correct statement below. a. | marketing | b. | consumer sovereignty | c. | utility | d. | market research | e. | test
marketing | | |
|
| | 31. | gathering,
recording, and analyzing data about the types of goods and services people want |
| | 32. | all the
activities needed to move goods and services from the producer to the consumer |
| | 33. | offering a
product for sale in a small area for a limited period of time |
| | 34. | role of the
consumer as the determiner of the types of goods and services produced |
| | 35. | amount of
satisfaction one gets from a good or service |
| | Match
each item with the correct statement below. a. | price leadership | b. | penetration
pricing | c. | promotion | d. | direct-mail advertising | e. | product life
cycle | | |
|
| | 36. | selling a
new product at a low price to attract customers away from an established product |
| | 37. | type of
promotion using a mailer that describes the product or service and an order blank |
| | 38. | practice of
setting prices close to those charged by other companies selling similar products |
| | 39. | use of
advertising to inform customers of a new product or service and to persuade them to buy
it |
| | 40. | series of
stages a product goes through from introduction to withdrawal from the market |
| | Match
each item with the correct statement below. a. | channels of distribution | b. | wholesalers | c. | retailers | d. | e-commerce | e. | club warehouse store | | |
|
| | 41. | businesses
that purchase large quantities of goods from producers for resale to other businesses |
| | 42. | conducting
business transactions over computer networks, particularly the World Wide Web |
| | 43. | distribution
channel that offers members a limited selection of goods in huge quantities at low
prices |
| | 44. | routes by
which goods are moved from producers to consumers |
| | 45. | businesses
that sell consumer goods directly to the public |