marketing. 10 questions – 1 point each 5 questions – 9 points total 1 question - 11 points total

Chapter 10 Review FlashcardsMarketing

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

Question 1All businesses must complete some marketing

activities even if that is not their focus.

Question 1 - AnswerTRUE

Question 2A target market is a group of consumers that have

similar wants and needs.

Question 2 - AnswerFALSE

Question 3Effective marketing begins with a good product.

Question 3 - AnswerFALSE

Question 4Finding solutions to problems through carefully

designed studies involving consumers is called marketing research.

Question 4 - AnswerTRUE

Question 5Product packaging is the least important part of

product planning because consumers simply throw away the packaging before using the product.

Question 5 - AnswerFALSE

Question 6The first step in new product planning is to develop a

full marketing strategy.

Question 6 - AnswerFALSE

Question 7Highly complex and technical products generally have

higher prices than simple products.

Question 7 - AnswerTRUE

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.

Question 8 - AnswerFALSE

Question 9A farmer selling at a roadside stand tomatoes she

grew in her own garden is an example of a direct channel of distribution.

Question 9 - AnswerTRUE

Question 10Advertising is any form of communication used to

inform, persuade, or remind.

Question 10 - AnswerFALSE

Question 11This marketing function involves setting and

communicating the value of products and services.Financial AnalysisDistributionPricingSelling

Question 11 - AnswerPRICING

Question 12What is the first step in the consumer decision-making

process?Gather InformationSelect AlternativesEvaluate AlternativesRecognize a Need

Question 12 - AnswerRecognize a Need

Question 13A small number of consumers expressing opinions

about a new product or service in a group discussion is Target MarketFocus GroupSurvey GroupExperimental Group

Question 13 - AnswerFocus Group

Question 14The simplest form of a product is called the

Basic productBrand nameProduct featureOption

Question 14 - AnswerBasic product

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

Question 15 - AnswerConsumed at the same time they are produced

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

Question 16 - AnswerIf it has many features and options

Question 17Product costs + Operating expenses + Profit =

Gross marginSelling priceMarkupMarkdown

Question 17 - AnswerSelling price

Question 18Businesses usually specialize in producing a specific

type of product, while consumers want to purchase a variety of products. This illustrates differences inAssortmentQuantityLocationTiming

Question 18 - AnswerAssortment

Question 19Which of the following is an example of personalized

promotion?AdvertisingPublicityPersonal sellingSales promotion

Question 19 - AnswerPersonal selling

Question 20Non-paid promotion presented by the media rather

than by a business isTelemarketingAdvertisingSales promotionPublicity

Question 20 - AnswerPublicity

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

Question 21 - AnswerDistribution

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

Question 22 - AnswerFinal Consumers

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

Question 23 - AnswerProduct and Service Management

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

Question 24 - AnswerPromotion

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

Question 25 - AnswerEmotional Buying Motive

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

Question 26 - AnswerSelling

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

Question 27 - AnswerFinancial Analysis

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

Question 28 - AnswerBusiness Consumers

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

Question 29 - AnswerRational Buying Motive

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

Question 30 - AnswerMarketing-Information Management

Question 31A(n) __________ identifies how a company uses

marketing to achieve its goals.

Question 31 - AnswerMarketing Strategy

Question 32A marketing mix is the blending of four marketing

elements: (4 points)

Question 32 - AnswerProduct, Distribution, Price, and Promotion

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)

Question 33 - AnswerSecondary, Primary

Question 34The difference between the selling price and the

product costs is _____.

Question 34 - AnswerGross margin

Question 35The exchange of information so there is common

understanding by all participants is called _____.

Question 35 - AnswerEffective communication

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

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