Marketing 11 Final test 2011
Multiple Choice Questions please answer all questions by selecting the most appropriate answer, on the
bubble card provided
1.
The barter system is
a) A system of trade that involves an exchange of goods and services for money
b) A system of exchange of money for goods and services
c) A system of trade that involves an exchange of goods and services of others
d) All of the above
2.
A good brand name should be which of the following
a) Brief
b) Easy to remember
c) Catchy
d) All of the above
e) None of the above
3.
“Niche marketing” means
a) Selling products that are non-specific
b) Targeting a wide-variety of people
c) Personalized products targeting narrow groups of people
d) None of the above
4.
In a modified free enterprise system
a) The government has no control
b) The government guides and oversees
c) The government controls everything
d) None of the above
5.
“Demographics” refers to
a) Money consumers are willing to spend
b) Numerical facts about a population
c) Numerical facts about sales
d) None of the above
6.
The process involved in moving the product from the producer to the consumer is referred to as:
a. Stream of Products
b. Channel of Distribution
c. Flow of Goods
d. All of the above
e. None of the above
7.
The type of business person who sells natural goods that are unaltered is called an:
a. Extractor
b. Farmer
c. Excavator
d. Remover
8.
An Ultimate Consumer is one who:
a. Buys products from retailers for personal use
b. Buys products and sells them to kids
c. Sells products from a retail store
d. All of the above
e. None of the above
9.
When a product is shipped from a producer to a retailer it is handled in the middle by
A: Shipper
B. Interpreter
c. Entrepreneur
d. Intermediary
e. None of the above
10. Stores like Costco are classified as:
a.
Discount Outlets
b.
On-line discounters
c.
Producers
d.
Retailers
e.
Wholesalers
11 Ways of thinking, acting, or feeling – are considered most important.
A. Skills
B. Attitudes
C. Self-esteem needs
d. Special Qualities
e. A and B
12. The consumer buying process includes the following steps.
a) Problem recognition, information search, evaluation of alternatives, making the purchase, reevaluating the purchase
b) Problem recognition, information search, evaluation of alternatives, making the purchase
c) Problem recognition, information search, making the purchase, re-evaluating the purchase
d) None of the above
13. Reference groups refer to…
a) One person that influences consumers
b) A group of people that influences consumers to buy
c) A company that references
d) A and B
e) None of the above
14. A human’s perception is….
a) The way a person discusses a situation
b) The way a person looks at perplexing problems
c) The way a person views the world
d) A and B
e) B and C
15. Wholesaling does not include which of the following services
a) Market research
b) Selling
c) Promotion
d) Distribution
e) None of the above
16. The group of customers to whom the company directs its marketing program towards is called
a) Test market
b) Target market
c) Retailers market
d) Marketable people
e)
None of the above
17. A pair of jeans would be considered
a) Convenience goods
b) Specialty goods
c) Shopping goods
d) None of the above
18. A 68 mustang would be classified as
a) Specialty goods
b) Shopping goods
c) Convenience goods
d) None of the above
19. Which of the following factors do not affect pricing:
a) Competition: product availability and popularity
b) Manufacturer’s suggested retail price
c) Planned Price Reductions
d) Store Profit
e) All of the above
20. Which is the highest level of brand loyalty
a) Brand preference
b) Brand recognition
c) Brand insistence
d) A and b
e) None of the above
21. Which is the lowest form of brand loyalty
a) Brand preference
b) Brand recognition
c) Brand insistence
d) C and d
e) None of the above
22. An ordinary Sony Playstation 1 would be in which stage of the product life cycle.
a) Maturity
b) Growth
c) Introduction
d) Decline
e) Obsolescence
23. The current Tide Laundry Detergent would be in which stage of the product life cycle.
a) Introduction
b) Growth
c) Maturity
d) Decline
e) None of the above
24. Distribution channels are…
a) Paths of distribution
b) Ways of buying goods
c) The paths products take from the producer to the consumer
d) The paths products take from wholesaler to consumer
e) A and D
25.
Sales = cost of goods + ___________ + profit
a) Demand
b) Operating expenses
c) Store mark-up
d) HST
26. Profit is:
a) The amount left over after all the costs of goods and operating expenses have been paid for.
b) The amount the store earns at the end of the day
c) The amount which an owner gets paid per hour
d) The portion of the retail-selling price that covers the retailer’s operating expenses.
e) None of the above
27.
a)
b)
c)
d)
The purpose of a display is to
Catch a customer’s attention
Encourage customer’s to brows and examine merchandise
Allow employees quick visual control of merchandise
All of the above
28.
a)
b)
c)
d)
The 2 main categories of displays are
Interior and exterior
Open and closed
Open and interior
Closed and exterior
“Visual merchandising” means
A desire that can be satisfied after basic needs are met
An effective display of goods that appeals to the customer’s senses, primarily sight
A term referring to all the business activities involved in buying, selling, and controlling so goods and
services can be transferred to the ultimate consumer
d) A person who recommends another person to a potential employer
29.
a)
b)
c)
30. What is a loss leader?
a) A reduction in price from the original selling price.
b) A claim placed on the property of another as a safeguard for payment of a debt in connection with
that property
c) An item sold below cost to get rid of access inventory
d) An item sold below cost in order to attract customers to the store
e) An informal group of personal and professional contacts.
31. Mark-down is:
a) A reduction in price from the original selling price
b) Selling goods in a foreign market at prices below those charged domestically ir below the costs of
production
c) The central shopping district of a community
d) The written portion of a print advertisement
e) A reduction on from the original cost price
32.
a)
b)
c)
d)
Two examples of exterior displays are
Storefront sign and gondola shelving
Table displays and dump displays
Display windows and sidewalk displays
Showcase displays and display racks
33.
a)
b)
c)
d)
A display principle is
Create simple and effective displays
Design from the customer’s point of view
Maintain displays
All of the above
34. Selling Price = cost price + __________
a) Profit
b) Final selling price
c) Original retail price
d) Mark-up
e) Mark-down
35.
a)
b)
c)
d)
A display should be first evaluated
After the first month
As soon as it is put into place
Just before it is taken down
None of the above
36.
a)
b)
c)
d)
The primary colors are
Red, green, yellow
Yellow, red, blue
Pink, green, orange
Purple, pink, blue
37. The federal laws concerning prices us part of the:
a) National Adverting Act of Canada
b) Competition Act
c) Merge Act of Canada
d) Pricing Act of Canada
e) There are only provincial acts
38.
a)
b)
c)
d)
A __________ is created when equal amounts of the primary colors are mixed together
Secondary color
Tone
Intermediate color
Neutral color
39. ________ is the amount left over after all the costs and operating expenses have been paid
A)
Profit
B)
Mark-up
C)
Mark-down
D)
None of the above
40.
a)
b)
c)
d)
Any 3 colors that are equally spaced from one another on the color wheel make up
An analogous color scheme
A complementary color scheme
A monochromatic color scheme
A triadic color scheme
41. When black and white are used alone or in some combination with each other they are considered to be
a) Neutral
b) Primary
c) Secondary
d) Intermediate
42.
a)
b)
c)
D)
What is the definition of a mark-up?
How much the manufacturer wants to bring the price up
The portion of the retail selling price that covers the retailer’s operating expenses and profit
The portion of a the amount of money it took to make the product and who made it
None of the above
43.
a)
b)
c)
d)
Gondola shelving is an example of
Interior closed display
Interior open display
Exterior closed display
Exterior open display
44.
a)
b)
c)
d)
Displays are a good way to
Discourage shoplifting
Streamline stock keeping and maintenance
Encourage self-service
All of the above
45.
a)
b)
c)
d)
First impressions are
Unimportant
Forgettable
Lasting
All of the above
46.
a)
b)
c)
d)
Customer confusion is reduced by
Cross-merchandising
Mixed merchandising
Counter merchandising
None of the above
50.
a)
b)
c)
d)
One of the functions of effective lighting is
To give a “summer” type atmosphere
To create store image
To make products look nicer than they really are
None of the above
51. If we have a product with a cost of $40.00 and a 15% mark-up on selling price the cost of the product is
closest to:
a) 45.00
b) 46.00
c) 47.00
d) 48.00
52. A common theft deterrent is
a) A well-lit store
b) Parcel check services
c) Raised point of sale terminal
d) All of the above
e) None of the above
53. One of the principles of store design and layout is
a) Make things complex
b) Maximize space for non-selling areas
c) Keep it simple
d) All of the above
54. “False economy” means
a) Spending a smaller amount of money on the business than is necessary, in the long run, in an attempt to
cut costs which eventually causes problems that cost more to fix than spending the necessary amount of
money in the first place
b) Being at liberty to do as you wish, when you wish, al long as it does not interfere with others doing as
they wish
c) A system of trade that allows a country to trade with any nation it chooses
d) None of the above
55.
a)
b)
c)
d)
The successful retailer studies
Human behaviour
Animal behaviour
Paranormal behaviour
Stock Markets
56.
a)
b)
c)
d)
A habit is
A thought or feeling which that causes a person to act or react in a certain way
A characteristic way of thinking or behaving
A natural reaction
None of the above
57.
a)
b)
c)
d)
In Maslow’s Hierarchy of needs, one of the physical needs is
Food
Self-respect
Self-fulfillment
All of the above
58.
a)
b)
c)
d)
On a storewide basis, prices must be set at levels that will allow the owner to cover the cost of:
The product and new car they have waiting for them to buy
Merchandise and the operating expenses and to earn at least a satisfactory profit
Employee costs, rent and operating expenses
All of the above
59.
a)
b)
c)
d)
In Maslow’s Hierarchy of needs, one of the self-actualization needs is
Air
Security in job
Being self-fulfilled
None of the above
60.
a)
b)
c)
d)
A developed sales personality is
Positive attitude
Honesty and sincerity
Friendliness
All of the above
61.
a)
b)
c)
d)
One or more of the duties of a salesperson is
Sell goods and services
Direct customers
Handle returns and complaints
All of the above
62.
a)
b)
c)
d)
Stock keeping involves
Maintenance
Arranging and displaying goods
Replenishing shelves and racks
All of the above
63.
a)
b)
c)
d)
Possible causes of shrinkage
Goods that are out of style
Perishable items that have gone bad
Returns
All of the above
64.
a)
b)
c)
d)
Stock rotation is
Moving stock so that newer stock is in front
Moving stock so that older stock is in front
Mixing older and newer stock
Any of the above
65. Meeting the competitions prices is sometimes an attempt to:
A. Force the competitors out of the market
B. Make the most profit in a given situation
C. Simplify the price-determination process
D. Price according to the customers ability to pay
E. None of the above
66. A pricing method that lets the consumer compare price-per once against the full bottle is:
A. Price lining
B. Unit pricing
C. Psychological pricing
D. One-price strategy
E. None of the above
67. Introducing a new product at a price low enough to attract a large share of the market is called:
A. Penetration pricing
B. Skimming pricing
C. Psychological pricing
D. Geographic pricing
E. None of the above
68. When a manufacturer’s cost of an item depends on the number ordered or varying production costs, the
manufacturer is:
A. Mark-up pricing
B. Unit pricing
C. Cost-plus pricing
D. One-price strategy
E. None of the above
69. What is a loss leader?
f) A reduction in price from the original selling price.
g) A claim placed on the property of another as a safeguard for payment of a debt in connection with
that property
h) An item sold below cost to get rid of access inventory
i) An item sold below cost in order to attract customers to the store
j) An informal group of personal and professional contacts.
70. The economist relates price to
A) supply
B) demand
C) all of the above
D) none of the above
71. The portion of the retail selling price that covers the retailer’s operating expenses and profit is known
as
A) Profit
B) Mark-up
C) Mark-down
D) None of the above
72. On a storewide basis, prices must be set at levels that will allow the owner to cover the cost of:
e) Merchandise and the operating expenses and to earn at least a satisfactory profit
f) The product and new car they have waiting for them to buy
g) Employee costs, rent and operating expenses
73.The cost of goods include…
a) Amount of money a retailer actually pays
b) Amount of money a consumer pays
c) Who made the product
74. Operating expenses include
a) Food costs, your wages, cleaning bill
b) Employee wages, advertising, building rentals, utilities and others
c) Transportation fees and utilities
75. Manufacturers will often pay more to have their stock on ________.
a) Grab level
b) Ground Level
c) Waist level
d) Eye level
e) None of the above
76. Lighting which goes from the light fixture to the product with no reflection is called?
a) Indirect
b) Direct
c) Semi-direct
d) Diffused
e) Semi-indirect
77.
a)
b)
a)
b)
Lighting is important because
It helps creates a feeling of buying
It helps creates the stores atmosphere
It helps creates the stores blueprint
It helps sell slower moving items
78. The lighting in this classroom is called?
a) Direct
b) Panel
c) Semi-direct
d) Diffused
e) Indirect
79.
a)
b)
c)
d)
e)
Which of the following is a function of effective lighting?
Give store “personality”
Give the store increase selling power of products
Give store “image”
Both b) and c)
Both a and c
80.
a)
b)
c)
d)
e)
The KIS principle in marketing refers to
Keep It Simple
Keep It Smart
Keep It Smiling
Both a) and c)
None of the above
81. Point of Sale Terminals refer to
a) Displays of merchandise
b) Discount stores
c) Sale display racks
d) Cash register
e) All of the above
82.
a)
b)
c)
d)
e)
A “cluttered” undemonstrated atmosphere best for a
Department store
Clearance store
Grocery store
Gas station
All of the above
83.
a)
b)
c)
d)
e)
First impressions often are
Lasting
Important
Fleeting
Both a) and b)
Both b) and c)
84. The stores floor plan is also called a
a) Store design
b) Store layout
c) Store blueprint
d) Both a) and c)
e) Both b) and c)
85. In none self-service stores, counters and displays are positioned to slow shoppers down. This is to
a) Encourage browsing
b) Encourage proper sales techniques
c) Encourage a friendly atmosphere
d) All of the above
e) None of the above
86. Which of the following is not a principle of store design and layout
a) Keep it simple
b) Balance quality and cost
c) First impressions count
d) Do not confuse customer
e) None of the above
87.
a)
b)
c)
d)
e)
A customer who knows what he/she wants is
A hurried customer
A talkative customer
A decided customer
An unhurried customer
An undecided customer
88.“ I see the Oilers won last night” (to a person wearing an Oilers baseball cap) is
a) Social greeting
b) Service greeting
c) Merchandise greeting
d) Both b and c
e) Both a and c
89.When determining wants and needs, it is important to
a) Rely on appearance
b) Listen attentively
c) Try to talk them into the products you want them to buy, even if it may not be what they want
d) None of the above
e) All of the above
90.“I’m afraid it will not last” is what kind of objection?
a) Store objection
b) Trade mark objection
c) Product objection
d) Brand objection
e) Price objection
91.“Your credit department is too tough” is what kind of objection?
a) Price objection
b) Store/brand objection
c) Product objection
d) All of the above
e) None of the above
92. Suggestion selling is
a) A recommendation for a specific complementary or accessory item to supplement the customer’s
purchase
b) The customers who are most likely to purchase a the particular products or services a retailer
c) A method of non-store retailing in which the salesperson makes a prepared sales pitch about the
company’s products or services on the telephone or television screen
d) All of the above
e) None of the above
93.
a)
b)
c)
d)
e)
“These are new arrivals” is
A service greeting
A social greeting
A merchandise greeting
All of the above
None of the above
94. The term “caveat emptor” means:
a. Let the buyer beware
b. The buyer is always right
c.
d.
The buyer is never right
None of the above
95. Legally retailers are not required to:
a. Take goods back
b. Return money
c. Give credit vouchers
d. All of the above
e. Both a and c
96. False arrest can lead to:
a. Cause embarrassment and customer dissatisfaction
b. Lawsuit against the store
c. A verbal apology and a letter of apology from a senior store management
d. All of the above
97. Stores mainly compete on:
a. Goods
b. Price
c. Customers
d. Location
e. Store design
98. If a retailer purchases a product for 50 cents and has a 50% mark-up on Cost, what is the retail selling
price of the product
A.. 50 cents
B. 1 dollar
C. 25 cents
D. 75 cents
E. None of the above
99. Introducing a new product at a price low enough to attract a large share of the market is called:
A. Penetration pricing
B. Skimming pricing
C. Psychological pricing
D. Geographic pricing
E. None of the above
100. Meeting the competitions prices is sometimes an attempt to:
A. Force the competitors out of the market
B. Make the most profit in a given situation
C. Simplify the price-determination process
D. Price according to the customers ability to pay
E. None of the above
a.
That’s it my friend